WHAT IS $THE?
The Protocol is a decentralized token project launched on the Ethereum chain. It was birthed into existence by Vitalik in this tweet. The Protocol is the first ever wordcoin and the first ever token outside of Ethereum that Vitalik has requested to be created. The Protocol's first goal is to create a DAO to place the power in the hands of the community.
What is a DAO?
A DAO stands for a Decentralized Autonomous Organization. The basic idea of a DAO is that the governing power of a project is not held by any few individuals but in the community as a whole! This means that community members can create a proposal and the community will vote on it.
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