Blockchain Governance — A Look at the Top 5 DAO Treasuries in 2023

Over 7 years ago, connected April 30, 2016, the archetypal decentralized autonomous enactment (DAO) emerged, marking a important displacement successful the integer world. However, conscionable 3 months later, a cyberattack brought it down, starring to its unfortunate collapse. Today, the scenery has transformed dramatically, with galore DAOs thriving, and 179 treasuries surpassing $1 million. In total, these organizations clasp $18 cardinal successful assets, some liquid and vested. As of 2023, the apical 5 DAO treasuries unsocial clasp $11 billion, dispersed crossed assorted token assets.

2023’s Leading DAOs

Various sectors successful the satellite of integer assets person been deed by the crypto wintertime but decentralized autonomous organizations (DAOs) person seen growth. In essence, a DAO stands arsenic a integer governance model, orchestrated by astute contracts, with decisions documented connected a blockchain. With 179 DAO platforms overseeing assets surpassing $1 million, the pursuing is an overview of the apical 5 DAOs arsenic they basal successful 2023.

On April 15, 2022, the DAO ecosystem had a valuation of $10.8 billion. As of today, the combined worth of DAOs has risen importantly to $18 billion. This improvement continued into 2022 erstwhile the top-ranking DAOs had a antithetic composition. Uniswap and Bitdao, which has subsequently rebranded arsenic Mantle, occupied the apical positions. However, determination has been a displacement successful dynamics, with the different 3 contenders connected the top-five list—Uxd Protocol, Mango DAO, and Lido’s DAO—yielding their positions.

Arbitrum DAO

The Arbitrum DAO, with the largest treasury among DAOs, leverages a community-driven governance exemplary facilitated by the arbitrum (ARB) token. This DAO is intimately connected to the furniture 2 (L2) Ethereum scaling network, Arbitrum. In summation to governance, Arbitrum DAO operates a broad treasury strategy and information assembly to heighten its operational efficiency. Currently, its treasury holds a divers array of assets valued astatine $3.4 billion, including ARB and assorted stablecoins.

Optimism Collective

While astir DAOs chiefly clasp autochthonal tokens, a sizeable fig person diversified into stablecoin crypto assets. The second-largest DAO by assets nether absorption (AUM) is tied to the L2 scaling protocol Optimism. The Optimism Collective‘s treasury holds $3.1 cardinal successful assorted assets, including OP, the DAO’s autochthonal plus for integer governance. The governance operation of Optimism’s DAO is uniquely shared betwixt 2 entities: the Citizens’ House and the Token House.

Mantle

Arbitrum and Optimism optimize their respective networks for treasury operations, yet Mantle (formerly Bitdao), ranking arsenic the third-largest DAO, administers $2 cardinal successful AUM utilizing the Mantle web for its treasury management. The DAO made its debut successful August 2021 and underwent a translation from Bitdao to Mantle, pursuing a governance ballot connected May 19, 2023.

Uniswap DAO

Ranking 4th successful 2023 is the Uniswap DAO, commanding a treasury presently valued astatine $1.7 billion. Affiliated with the Uniswap decentralized speech (dex) protocol, the Uniswap DAO manages a treasury comprising its autochthonal token UNI, on with assorted fiat-pegged tokens. Governance wrong this enactment is conducted done UNI tokens, entrusting the DAO with decision-making and the implementation of modifications to the Uniswap dex.

Gnosis DAO

Securing its presumption arsenic the fifth-largest DAO successful 2023 is the Gnosis DAO. This entity is dedicated to crafting infrastructure to bolster the Ethereum ecosystem, playing a pivotal relation successful the improvement of products similar Gnosis Safe, Cow Protocol, and Zodiac, which serves arsenic a modular and toolkit for creating decentralized applications (dapps) connected Gnosis. In its treasury, the Gnosis DAO manages assets worthy $813 cardinal successful AUM, including GNO, ETH, and assorted stablecoins.

Beyond the apical 5 DAOs ranked by treasury size, the consequent 5 successful the apical 10 spectrum negociate assets ranging from $200 cardinal to $800 million. The DAO scenery contiguous is active, with much than 8 cardinal governance token holders and 2.8 cardinal entities actively participating successful voting and connection creation. In a striking comparison, the existent apical 5 DAOs are collectively astir 73.33 times larger than the 2016 DAO, which had a worth of $150 million.

What bash you deliberation astir the apical 5 DAO treasuries successful 2023? Share your thoughts and opinions astir this taxable successful the comments conception below.