Number of DAOs increases 8X along with spike in votes and proposals

Please fol­low and like us:
Pin Share

The total num­ber of decen­tral­ized autonomous orga­ni­za­tions (DAO), the num­ber of gov­er­nance pro­pos­als put for­ward, and the num­ber of votes cast, have all seen astound­ing 8X growth over the past 12 months.

Data com­piled by Snap­shot Labs, shared by Elec­tric Cap­i­tal Engi­neer Emre Caliskan in a June 9 tweet, high­light­ed that DAO num­bers have increased by 8.8X, from 700 in May 2021 to 6,000 now. The num­ber of pro­pos­als has increased by 8.5X, and the num­ber of total votes have increased by 8.3X over the past 12 months, from 448,000 to 3.7 million.

Snap­shot is a decen­tral­ized gov­er­nance par­tic­i­pa­tion por­tal where DAO mem­bers can pro­pose new ini­tia­tives and vote on them, the data was com­piled in col­lab­o­ra­tion with Elec­tric Cap­i­tal, a Web3 invest­ment firm

While the find­ings look promis­ing for decen­tral­ized gov­er­nance mod­els, the increase in par­tic­i­pa­tion was dri­ven by just a small hand­ful of the most active DAOs. New pro­pos­als most­ly came from just 10% of DAOs, while 60% of DAOs havhad three or few­er pro­pos­als since their inception. 

Nev­er­the­less, the over­all growth is an impres­sive show of con­fi­dence in the DAO structure.

Rival DAO track­ing tool Deep­DAO has slight­ly dif­fer­ent fig­ures and shows there are only 4,833 DAOS as of June 10. 

Relat­ed: ApeCoin DAO offi­cial­ly favors remain­ing with­in Ethereum ecosystem

Caliskan attrib­uted the increase in new pro­pos­als to the pop­u­lar­i­ty and wide cov­er­age of Con­sti­tu­tion DAO. It was an orga­ni­za­tion set up last Novem­ber with the intent of buy­ing an orig­i­nal copy of the US Con­sti­tu­tion. The DAO was out­bid at the last moment, but it proved the pow­er such orga­ni­za­tions can have.

Most DAO pro­pos­als come from just 10% of organizations.

Accord­ing to Deep­DAO, Pan­cakeSwap and Decen­tra­land are the two top DAOs by pro­pos­al count with 3,300 and 1,200 respec­tive­ly. Only the top 72 orga­ni­za­tions have at least 100 pro­pos­als as of the time of writing.

Despite the over­all promis­ing num­bers in DAO growth, a June 7 draft bill from the US Sen­ate could cur­tail their growth if no changes are made to it. It ini­tial­ly calls for all cryp­to projects to reg­is­ter with the gov­ern­ment and reveal the iden­ti­ties of their users and founders.



Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *