Decentralized Autonomous Organization Statistics Show $10 Billion Is Held by DAO Treasuries

During the early years of the cryptocurrency area, decentralized autonomous organizations (DAOs) and good contracts have been mentioned in principle. Nowadays many individuals contemplate The DAO, launched in 2016 by members of the improvement group, to be the primary good contract-based DAO. In 2022, there’s much more DAOs, as statistics present that $10 billion is held by DAO treasuries.

Thousands of DAOs, $10 Billion Held in Treasuries, 1.7 Million Governance Token Holders

Well earlier than the ideas have been launched, good contracts and decentralized autonomous organizations (DAOs) got here to the creativeness of some legendary cryptographers. Following Satoshi Nakamoto’s great invention, blockchain expertise coupled with good contracts opened the doorways for decentralized organizations.

In 2016, Ethereum builders and members of the group created what many refer to and cite as the primary decentralized autonomous group. After Stephan Tual, Simon Jentzsch, and Christoph Jentzsch introduced The DAO, the undertaking managed to lift $150 million from the tokens bought.

However, on account of vulnerabilities in its code base, The DAO was hacked and the attacker managed to siphon tens of millions of {dollars} in ethereum (ETH). “This is a matter that impacts the DAO particularly; Ethereum itself is completely secure,” Vitalik Buterin said in June 2016. The DAO assault didn’t cease the creation of DAOs, as a report revealed in September 2021 by Consensys recorded “978,000 DAO members.”

“Current tasks embody many who focus solely on token providers, governance, treasury administration, threat administration, development, group, operations, and improvement for DAOs,” the Consensys report particulars.

Academic Paper on DAOs Says Concept ‘May Introduce a New Era in Organizational Economics’

Statistics from the analytical internet portal exhibits there’s $10 billion in worth held by the highest decentralized autonomous organizations right now by way of treasury holdings. $7.1 billion is liquid and $2.9 billion is at present vested, in line with metrics on the time of writing.

Out of the highest DAOs there are 1.7 million governance token holders, and 669,000 lively voters and proposal makers. Uniswap’s DAO has the biggest treasury on the time of writing, with $2.2 billion, and Gnosis is the second largest with $1.5 billion.

Uniswap additionally has the biggest variety of governance token holders with 332,900 recorded right now. In phrases of governance token holder numbers, Uniswap is adopted by Decentraland, Compound, ENS, Aave, and Synthetix. Below Uniswap’s and Gnosis’s treasury holdings are Bitdao ($1.3B), Polkadot ($441.9M), and UXD protocol ($406.9M).

The prime three DAOs right now, by way of treasury dimension, maintain a number of tokens whereas Polkadot’s DAO solely holds DOT. UXD protocol leverages 5 totally different cryptos within the treasury, together with the undertaking’s algorithmic stablecoin based mostly on the Solana blockchain. Out of Uniswap’s 332,900 governance token holders, statistics point out there are solely 8,400 lively members.

Metrics present Gnosis has 17,700 governance token holders however only one,500 lively members. Uniswap has 83 governance proposals, Gnosis has 43 proposals, and Bitdao at present has 10 proposals customers can vote on. Pancake Swap and Decentraland have probably the most proposals as Pancake Swap has 3,300 and the metaverse undertaking Decentraland has 1,200 governance proposals on the desk.

DAOs are most undoubtedly a actuality now, however there’s a whole lot of debate on how decentralized and autonomous they are surely. Despite some setbacks, an academic paper on DAOs says that total, “DAOs could introduce a brand new period in organizational economics, reworking the worldwide company panorama from hierarchical organizations to democratic and distributed organizations powered by organizational entrepreneurship and improvements.”

What do you concentrate on the 1000’s of DAOs right now and the $10 billion held by DAO treasuries? Let us know what you concentrate on this topic within the feedback part under.

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