# DAO Overview Traditional equity offerings drain investor value through multiple layers of fees:

Up to USD 2,500,000 is lost before trading begins, plus the lengthy application process and regulatory overhead, with no guarantee of success. In contrast, Royalty Token DAO disrupts this model with the following:

Item	Problem	Our Alternative
Investment Banking	Expensive. Not aligned with long term investor and company interests. Often incur additional selling pressure post-IPO, inflicting losses on investors.	Performance-based vesting for financial intermediaries.
Market Maker	High fee and high spread	Automated market-maker
Legal and Audit	Expensive and slow	Real time validated data oracle and smart contract based enforcement
Exchange and Infrastructure	High listing fee, barrier and regulatory overhead	Blockchain partnerships and DEXs

The value reclaimed is redistributed back to stakeholders of the DAO, this creates a fairer, more efficient market where investors capture the value traditionally lost to intermediaries. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.liquidroyalty.com/dao/dao-overview.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.