Cao Yin, Executive Director, Digital Renaissance Foundation: Completion of DAO may bring importance to the project.

On October 5, Cao Yin, director of the Digital Renaissance Foundation, told the 499 Island launch conference that DAO's completion could bring incredible value to the project. Cao Yin believes DeFi now refers to the division of trusted intermediaries in the financial sector, replacing the middle class with smart contracts, decentralizing business, but does not necessarily represent governance. The management and operational structure of DAOs is a major help for DeFi, in particular in the face of competition upstream from DeFi contracts. 499 Island (499dao.com) is a DAO management platform that supports project information, project initiatives, participation, voting, and other activities, and is committed to building a great DAO.