NFT DAO Governance and Community 2

Question 1

What is a 'quorum' in the context of DAO voting?

Accepted Answer

The minimum participation threshold required for a vote to be valid

Answer

A quorum is the minimum percentage or number of token holders who must participate for a governance vote to be considered legitimate.

Question 2

In an NFT art DAO, what does 'delegated voting' allow members to do?

Accepted Answer

Transfer their voting power to another trusted member

Answer

Delegated voting lets token holders assign their governance weight to another member who votes on their behalf, increasing participation efficiency.

Question 3

Which mechanism is commonly used to prevent wealthy members from dominating NFT DAO votes?

Accepted Answer

Quadratic voting

Answer

Quadratic voting makes the cost of additional votes increase quadratically, reducing the outsized influence of large token holders.

Question 4

What is a 'multi-sig wallet' and why do NFT DAOs use them?

Accepted Answer

A wallet requiring multiple approvals before funds move, used for security

Answer

Multi-sig wallets require a set number of signers (e.g., 3 of 5) to approve transactions, preventing any single person from unilaterally controlling treasury funds.

Question 5

What is a DAO 'snapshot' in NFT governance?

Accepted Answer

A gasless off-chain voting platform used by many NFT communities

Answer

Snapshot is a popular off-chain voting tool that lets DAOs conduct gasless votes by recording token balances at a specific block height.

NFT - Art Practice Test

NFT - Art Practice Test

NFT DAO Governance and Community 2