Top 10 Influential DAOs and What They Represent
The DAO movement is on fire. And the trend isn’t slowing down: we’re seeing more DAOs spring up everyday, in every industry and around the world. But what exactly are these new organizations? And how can you find your own DAO? Here are our top 10 most influential DAOs to watch out for in 2022:
1. Uniswap
THE WHAT?
In September 2020, Uniswap introduced its governance token and solidified its position as a significant DAO
As the top DAO project, Uniswap’s main features centre on the DeFi tool for Uniswap users, which is community-controlled
The wider implications of Uniswap DAO have made waves in the cryptocurrency community
2. Maker
THE WHAT?
Maker focuses on bringing real assets into the world of cryptocurrency
In actuality, the DAO Maker token seeks to develop into DeFi’s biggest central bank
It also emphasizes developing DAI, the biggest decentralized stablecoin
With its algorithmic stablecoin DAI, Maker has demonstrated significant potential as the biggest central bank in the DeFi
3.BitDAO
THE WHAT?
With investments totalling over $2.5 billion in various DeFi projects, BitDAO is the largest DeFi treasury in the entire world
The distinctive reputation of BitDAO in the DAO ecosystem is largely a result of its creative prowess
BitDAO is one of the promising DAO examples that has attracted the attention of major investors
4. Aragon
THE WHAT?
Aragon is focused on giving users the freedom to communicate with anybody, from anywhere, using a DAO infrastructure
The Aragon DAO token, ANT, allows token holders to indicate their approval or disagreement with decisions that affect operations
One of the most popular DAO tokens is provided by Aragon, enabling token holders to start or join DAOs with Aragon as their base
The Aragon Fundraising project likewise emphasizes giving DAO members the authority to raise money for their group
5. Dash
THE WHAT?
Another illustration of how the top DAO project might drive DeFi’s future is Dash
It is a decentralized digital payment initiative with the goal of providing transactions that are as quick as Bitcoin
Dash, the DAO’s utility token, has recently displayed encouraging growth
There are currently over 10.27 million DASH tokens in use
Dash has been utilizing tremendous growth opportunities, particularly given the significant need for anonymous transactions
6. Compound
THE WHAT?
Compound is a DeFi startup that offers consumers passive income opportunities in addition to crypto lending alternatives
With price increases, Compound’s utility token, COMP, has established a strong reputation among DAO tokens
Compound now has a market value of $1.22 billion, providing a solid basis for future growth
7. Curve DAO
THE WHAT?
Curve DAO, an autonomous market maker system, controls liquidity and concentrates on exchanging assets of the same value
If you pay close attention, the Curve DAO token strengthens the entire Curve financial platform
The skills of Curve DAO as an automated liquidity provider and market maker open up new possibilities for its uses in the coming years of DeFi
8. Aave
THE WHAT?
Aave is a decentralized, open-source money market platform that offers a wide range of debt-based products
Aave, which was created on the Ethereum network, supports Ether, stablecoins, and ERC-20 tokens
Through the utilization of liquidity pools, Aave enables users to generate passive income from their digital assets
The Aave protocol, one of the best DAO projects for running a cutting-edge money market, has adopted the DAO style of governance
9. 0x
THE WHAT?
0x is an open protocol that enables asset exchange between peers using the Ethereum network
0x made the decision to adopt the DAO governance model in April 2021, giving rise to 0x DAO
0x and it's native token ZRX have the potential to rule the DAO market as an independent cryptocurrency exchange powered by open-source smart contracts
10. Decred
THE WHAT?
When looking for the greatest DAO project that fits your demands, Decred is another top platform that comes to mind
In order to address Bitcoin’s scalability problem, the platform’s native token, DCR, functions as a cryptocurrency
Decred uses its native currency to give the community the ability to vote on the project’s destiny, leveraging the DAO concept
The fact that Decred is entirely autonomous and decentralized, which leaves minimal room for a hard fork, is maybe the most significant aspect of all
The combination of Proof of Work and Proof of Stake consensus techniques is another intriguing feature of Decred and DCR coins, among other top DAO tokens
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DISCLOSURE:
None of these articles constitutes financial advice. Articles are highly summarised to make it easy for the reader and save time, so please DYOR further before putting your hard-earned money into any product mentioned.
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