Blockchain Governance — A Look at the Top 5 DAO Treasuries in 2023

Over seven years in the past, on April 30, 2016, the primary decentralized autonomous group (DAO) emerged, marking a major shift within the digital world. Nevertheless, simply three months later, a cyberattack introduced it down, resulting in its unlucky collapse. Immediately, the panorama has reworked dramatically, with quite a few DAOs thriving, and 179 treasuries surpassing $1 million. In complete, these organizations maintain $18 billion in belongings, each liquid and vested. As of 2023, the highest 5 DAO treasuries alone maintain $11 billion, unfold throughout numerous token belongings.

2023’s Main DAOs

Numerous sectors on the earth of digital belongings have been hit by the crypto winter however decentralized autonomous organizations (DAOs) have seen development. In essence, a DAO stands as a digital governance mannequin, orchestrated by good contracts, with choices documented on a blockchain. With 179 DAO platforms overseeing belongings surpassing $1 million, the next is an summary of the highest 5 DAOs as they stand in 2023.

On April 15, 2022, the DAO ecosystem had a valuation of $10.8 billion. As of right this moment, the mixed worth of DAOs has risen considerably to $18 billion. This evolution continued into 2022 when the top-ranking DAOs had a distinct composition. Uniswap and Bitdao, which has subsequently rebranded as Mantle, occupied the highest positions. Nevertheless, there was a shift in dynamics, with the opposite three contenders on the top-five checklist—Uxd Protocol, Mango DAO, and Lido’s DAO—yielding their positions.

Arbitrum DAO

The Arbitrum DAO, with the biggest treasury amongst DAOs, leverages a community-driven governance mannequin facilitated by the arbitrum (ARB) token. This DAO is intently related to the layer two (L2) Ethereum scaling community, Arbitrum. Along with governance, Arbitrum DAO operates a complete treasury system and safety council to boost its operational effectivity. At present, its treasury holds a various array of belongings valued at $3.4 billion, together with ARB and numerous stablecoins.

Optimism Collective

Whereas most DAOs primarily maintain native tokens, a substantial quantity have diversified into stablecoin crypto belongings. The second-largest DAO by belongings underneath administration (AUM) is tied to the L2 scaling protocol Optimism. The Optimism Collective‘s treasury holds $3.1 billion in numerous belongings, together with OP, the DAO’s native asset for digital governance. The governance construction of Optimism’s DAO is uniquely shared between two entities: the Residents’ Home and the Token Home.

Mantle

Arbitrum and Optimism optimize their respective networks for treasury operations, but Mantle (previously Bitdao), rating because the third-largest DAO, administers $2 billion in AUM using the Mantle community for its treasury administration. The DAO made its debut in August 2021 and underwent a metamorphosis from Bitdao to Mantle, following a governance vote on Could 19, 2023.

Uniswap DAO

Rating fourth in 2023 is the Uniswap DAO, commanding a treasury at the moment valued at $1.7 billion. Affiliated with the Uniswap decentralized trade (dex) protocol, the Uniswap DAO manages a treasury comprising its native token UNI, together with numerous fiat-pegged tokens. Governance inside this group is performed by way of UNI tokens, entrusting the DAO with decision-making and the implementation of modifications to the Uniswap dex.

Gnosis DAO

Securing its place because the fifth-largest DAO in 2023 is the Gnosis DAO. This entity is devoted to crafting infrastructure to bolster the Ethereum ecosystem, taking part in a pivotal position within the growth of merchandise like Gnosis Secure, Cow Protocol, and Zodiac, which serves as a regular and toolkit for creating decentralized purposes (dapps) on Gnosis. In its treasury, the Gnosis DAO manages belongings value $813 million in AUM, together with GNO, ETH, and numerous stablecoins.

Past the highest 5 DAOs ranked by treasury dimension, the next 5 within the high ten spectrum handle belongings starting from $200 million to $800 million. The DAO panorama right this moment is lively, with greater than 8 million governance token holders and a couple of.8 million entities actively collaborating in voting and proposal creation. In a putting comparability, the present high 5 DAOs are collectively about 73.33 instances bigger than the 2016 DAO, which had a price of $150 million.

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