2021 continues to be an exciting year with massive developments and progress for the entire blockchain ecosystem. For DAOs, more members and token holders are entering the space, and projects are continuing to buidl. This is intriguing and clearly shows that DAOs and their value propositions are getting on more people’s radar. Today, there are 108 DAOs in total on our dashboards, and it’s exciting to see more form periodically. There will come a time in the near future when we will see 1000s of DAOs.
In April, the first DeepDAO Telegram group was initiated by our community. We are happy to see the engagement and interest we have experienced thus far, and are looking forward to more interactions with our community. All of this to make DeepDAO what our users and community members want.
👀DAO Recap
The DAO ecosystem’s total asset under management (AUM) is currently at $951.6M (May 4) and is up slightly over the past month ($20.2M). When it comes to members and token holders, the current total is around 65,700 with an increase of over 930 from early April.
The fact that we are seeing an increase in DAO members and token holders is a positive trend. As we are including more projects including both DAOs and DeFi projects (which are planned moving forward) that have transitioned towards becoming a DAO, these numbers will most likely increase significantly.
We’re excited about the times ahead and inspired by the constant development and progress taking place. We want to include everything DAO-related on our dashboards, and we are looking forward to bringing more data to our users.
💡Relevant Stories
Wyoming will recognize DAOs as a new type of LLC, starting from July 1
Summary: Wyoming is the first state to recognize DAOs as a new format for company structure. This is a grand step towards legitimizing DAOs as it provides many of the same benefits and protections that LLC has.The inaugural Polkadot DAO Alliance Global Summit took place with great presenters and panelists
Summary: Companies in the DAO ecosystem came together for the inaugural Polkadot DAO Alliance to talk about the current ecosystem and what they believe will happen in the future. Participants in one of the panelists included DeepDAO, Darwinia, Patract, Bifrost and Parity.“The DAO ecosystem is booming and we see the ongoing development of new legal frameworks and financial tools for DAOs with better UI. This will all help the adoption of Web3” said DeepDAO’s founder, Eyal Eithcowich.
Polkadot has a strong treasury to continue funding development and initiatives for its ecosystem
Summary: VP of Growth at Acala, Dan Reecer, highlights the fact that the Polkadot treasury would be amongst the top 200 market cap on Coingecko with over $500M in total. This is collectively owned and governed by all Polkadot holders, and its objectives are to drive and fund new initiatives and development in the ecosystem.What will be the relationship between tokens and communities?
Summary: Danny Zuckerman wrote perhaps one of the best threads on DAOs that we have seen this year. He brings up questions such as: Can DAOs bring virtue back to scaled organizations? A must-read for everyone that’s interested in DAOs and how the future might look like.0x DAO is live on mainnet
Summary: 0x announced in April that the 0x DAO is live on mainnet. ZRX holders now have control over 2M ZRX ($2.7M) as a community treasury where they can vote on proposals on how to use the funds.Boosting DAOs on DAOhaus
Summary: DAOhaus is actively working on making DAOs more composable so they interact with the wider ecosystem. This is by creating Boosts which are modules that can be mixed and matched in order to increase functionality, coordination and other desired features.
🌟Project Spotlight
DXdao is a decentralized organization that helps facilitate, govern and grow various DeFi projects. The project describes itself as the first super-scalable collective and includes decentralized products like Mesa, Swapr and Omen. The DAO no hierarchies, facilitate symmetry of information, and is open for everyone. These are the key metrics of DXdao:
As viewed from the metrics, DXdao is currently ranked as #7 of the top DAO overview based on AUM. It’s actually ranked #1 amongst the projects on the DAOstack platform. Furthermore, the DAO is amongst the most active ones and has in total 463 proposals (ranked #2) and 114 voters (ranked #3) with a voter participation of 25.3%.
📶People Spotlight
We want to highlight Peter Pan, a key member of the Ethereum ecosystem, in this people spotlight. For those who are unfamiliar with this section, it’s a way for us to feature the people that are a part of the DAO ecosystem. We believe people’s behavior and actions by looking at their on-chain activity as in participation, proposals and votes are crucial for tomorrow’s social platforms and resumes.
Peter is currently ranked #2 when looking at the participation in different DAOs (21 in total). He’s active in the space through projects like MetaCartel, PieDAO and Machi X, and also has 114 proposals and 166 votes in total. This includes numerous projects in the DAO ecosystem. Not only is he participating in this way, but he’s also an investor in the early-stage investor fund 1kx that helps grow the tokenized economy.
If you want to learn more about Peter and his background, you should definitely listen to this Bankless episode. We enjoyed it and believe you will as well.
🤔About DeepDAO:
DeepDAO is covering financial and governance data on the 100+ top DAOs that include the five major platforms Aragon, Moloch, DAOstack, OpenLaw and Colony. DeepDAO’s mission is to provide comprehensive discoverability for decentralized governance systems. DeepDAO presents extensive analytics and information gathering. The main dashboard product enumerates and ranks DAOs using several key metrics such as membership and assets under management (AUM).
We are constantly expanding both coverages of various DAOs, other chains and governance platforms, and the metrics that quantify and measure the dynamics of governance processes in DAOs.