# Galaxy DAO Whitepaper V1
Galaxy DAO operates as a decentralized autonomous organization (DAO) - a new organizational form stared in the 2020s, and operates a user-participatory exchange.
### Founding Phylosophy
Galaxy DAO strives to pursue the "prosperity" of its participants.
By combining existing exchange frameworks and advanced models that utilise blockchain technology, we aim to incorporate traditional users, as we promote innovation, enhance community engagement, and create a unique platform.
Furthermore, we believe that "prosperity" encompasses not only materialistic wealth but also comprehensive fulfillment of financial wellness and mental well-being. We consider the concept of "DAO" as a crucial element in achieving these goals.
### Progressive Decetralization
Progressive Decetralization is a concept proposed by Jesse Walden of [a16z](https://a16zcrypto.com/posts/article/progressive-decentralization-crypto-product-management/).
1. Product/market fit
2. Community participation
3. Sufficient decentralization (community ownership)
As of 2023, Galaxy DAO is currently in the phase of achieving product and market fit. While it carries the name DAO, there may be instances where participants feel frustrated with limited involvement in decision-making. However, it is important to note that this is a temporary phase, and as the project progresses, there will be a shift towards the participation of community for descision making.
There is no greater irresponsibility than conveniently interpreting the term DAO and completely delegating decision-making to the community. We believe that the community will gradually participate in desicion making when there is a clear roadmap in place. Therefore, during the initial launch, the founding members will fully commit to the project on a full-time basis to provide the guildelines and direction.
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