# Understanding the DAO

## Functions

Lara is managed by the Lara DAO. The DAO members govern Lara to ensure its efficiency and stability. The Lara DAO should do the following:

* Build, deploy, update, and decide on key parameters of liquid staking protocols, approve incentives for parties that contribute towards DAO’s goals;
* Approve LGC(Lara Grant Committee) grants to support different research and initiatives that are worked upon for the benefit of the protocol;
* Payments to full-time contributors and other operational duties;
* Bug bounty program, respond to emergencies;
* Accumulation of service fees from Lara, which can be funneled into the insurance and development funds, distributed by the DAO;

### Actions & Governance

The `LARA` token governs all Lara DAO governance and network decisions to ensure its prolonged stability and decentralized decision-making to facilitate the growth of fair, and transparent liquid staking. The `LARA` contract address - `coming soon`.

To have a vote in the Lara DAO, and to contribute to the determination of any of the topics outlined above, one must hold the `LARA` governance token. Holding `LARA` gives DAO members a vote in the future of Lara, allowing each DAO member to have a personal say in the community. `LARA` voting weight is proportional to the amount  `LARA` a voter holds. The more `LARA` on a user’s address, the greater the decision-making power the voter gets. The exact mechanism of `LARA` voting can be upgraded just like the other DAO applications.

#### Software

Preparation for governance votes & communication will be managed via Dedicated Discord channels. Voting will be conducted via Snapshot.

{% hint style="info" %}
Our Snapshot space has been registered at <https://snapshot.org/#/laradao.eth> and our DAO has officially claimed the `laradao.eth` ENS name.
{% endhint %}


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