In addition, DAO is an organization managed by codes and programs, operating independently without an intermediary or central entity. Using Smart Contract, DAO receives external information and operates based on opinions derived from the information. The entire operation of a DAO is conducted according to the designated Smart Contract without any human intervention. DAO is usually operated by community equity holders who provide incentives according to token mechanisms. DAO's rules and transaction records are transparently stored on the blockchain ledger, and those rules are usually determined through voting among share holders. In general, decisions within DAO are made when a proposal acquires votes from most of equity holders or a a proposal meets a set of network agreement protocol.