Bitcoin

The number of active DAOs has increased by 660% since 2019

The growth of active decentralized autonomous organizations (DAO) is acceleratingincreases from 10 last year to around 76 todayAccording to Eyal Eithcowich, Founder and CEO of DeepDao.

DeepDAO provides insights and analysis into decentralized autonomous organizations. The platform recently released a new interface that allows users to better examine the health and wealth of DAOs.

Data from the platform shows that having large numbers of assets under management (AUM) does not necessarily indicate the health and good governance of a DAO.

The number of active DAOs has increased by 660% since 2019
The number of active DAOs has increased by 660% since 2019

For example, mStable is the highest-ranking project for managed assets and cash flows, but ranks low on membership and proposals, with only nine members voting for a total of 29 proposals.

In contrast, dxDAO ranks second for proposals with 268 and third for membership with 428, although less than 10% of mStable’s AUMs are available.

The recent surge in decentralized funding (DeFi) has renewed emphasis on DAOs as a critical part of the cryptocurrency ecosystem. Many projects aim to distribute the voting rights for governance among their users.

Talk to Cointelegraph Eithcowich described the platform’s mission as bringing together “all DAOs to provide very clear and accessible data” to inform a “discovery engine”.

Eithcowich said his interest in the decentralized organization stems from his activist past, noting that in 2008 he was “part of a movement that had decentralized ambitions” in his native Israel.

However, after the organization rose to fame as the largest party in Tel Aviv’s city council elections, Eithcowich said power had been consolidated around a small group of people, leading to the exodus of many activists and the death of the movement in 2014.

We had the best of intentions, but we still collapsed into a very tight structure.

Eithcowich predicts that DAOs will disrupt the governance structures of a large number of organizations in the wider community. including the structure of political parties, insurance companies, venture capital funds, sports teams and publishers.

New DeepDAO homepage: DeepDAO

The revamped website provides key overviews of the DAO sector, including weekly and monthly fluctuations in Assets Under Management (AUM), a total number of members of the combined DAOs, and a current number of DAOs representing more than $ 1 million in AUM or more than 100 members.

Individual DAOs are ranked on a variety of metrics, including their trust value, membership, number of proposals submitted by an organization, and frequency of participation in governance processes.

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