> For the complete documentation index, see [llms.txt](https://delnorte-terra-vision.gitbook.io/delnorte-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://delnorte-terra-vision.gitbook.io/delnorte-docs/dao/role-of-initial-investors.md).

# Role of Initial Investors

The original investors in a DAO act as its first market makers. By setting the initial token prices and participating in early trades, they establish a foundation for the DAO’s market activity. Over time, the DAO’s valuation will be shaped by market forces, reflecting investor confidence and the asset’s performance in real-world and macroeconomic contexts.