DAO boom: the number of projects in the sector grew by 660%

  • The number of DAO projects is increasing due to the popularization of DeFi.
  • The number of DAOs increased 6 times over the past year.
  • Experts believe that DAO projects will change the work of many structures and companies.

According to the analytical resource DeepDAO, the number of projects working in this area has increased 6 times in just a year. Today there are 76 DAO projects on the market.

Rich does not mean popular

An important feature of the new analytical resource is its mechanism for assessing the capital of the project. However, as the developers say, even very expensive projects are not popular with the audience. For example, mStable ranks first in terms of assets under management and capital flows, but in terms of the number of participants and proposals, it ranks low – only nine participants voted for 29 proposals. Conversely, dxDAO ranks second in offerings with 268 and third in membership with 428, even though mStable has less than 10% of AUM (assets under management).

The recent surge in the decentralized finance market has given new meaning to DAO projects. The founder of the DeepDAO project, Eyal Eytkovich, emphasized that the popularization of the DAO will change the way many organizations work, including the structure of political parties, insurance companies, venture funds, sports teams and publishers.

DAO’s second wind

DAO projects has got their second breath with the rapid growth of the decentralized finance market. Recall that after the collapse of the cryptocurrency market in March of this year, several DAO projects were closed at once. The MarketDAO resource has closed and is selling its assets after it could not survive the fall of Bitcoin and Ether to record lows. According to the founder of the company, Rune Christensen, control over the supply of unallocated governance tokens has been transferred to the owners of MKR. As stated in the official announcement posted on the organization’s website, the MKR token contract is now fully controlled by MKR holders. Since MKR holders now have full control over this contract, decentralized governance is the only way to change the authorization of MKR tokens.

In June, another DAO project, which was attacked by hackers and lost $ 55 million, announced the launch of an analogue. The new LAO platform will limit the number of users and the number of cryptocurrencies that can be invested in projects. So far, the company has raised 3,600 Ethers worth about $ 878,000 and provided its first funding to the startup. According to Aaron Wright, co-founder of OpenLaw, the digital contract system that helped to create LAO, DAO was a very ambitious project until it was attacked by hackers.

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