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In a DAO model, smart contracts are utilized for building rules as set by the team of community members. There are numerous DAO governance models that have undergone rapid adoption across the globe. Majorly, there are four governance models that gained popularity- Constitution DAO, Ethereum Name Service DAO, Friends With Benefits DAO, and Juicebox DAO. Constitution DAO allows users to pool their resources for buying and sharing ownership of assets with the help of cryptocurrencies. Ethereum Name Service DAO is controlled by a three-layer approach including the discourse of proposals, off-chain voting used by delegates, and voting on the blockchain. Friends With Benefits DAO (FWB) token acts as a portal for FWB DAO and connects like-minded people while Juicebox DAO enables projects in raising funds from the public backed by smart contracts.

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