When people think of Decentralized Autonomous Organizations (DAOs), governance becomes an important aspect. Moreover, most DAOs have a Treasury to be used for various purposes. Per DeepDAO, the following projects have the largest Treasury, although that doesn’t warrant governance participation whatsoever.
Uniswap ($2 billion)
It is interesting to see Uniswap lead the rankings for DAO Treasury size, although not too surprising. Being the world’s largest decentralized exchange has its perks on that front. Most funds come from $UNI tokens, which have lost much of their value in recent months. However, the Treasury still holds over $227.5 million UNI today.
There are – theoretically – 316.1k members who can make their voice be heard on the governance front. However, only 2,800 members are active. They made roughly 17 proposals, gaining just over 3,100 votes. UNI holders’ lack of overall participation shows interest in this token is virtually non-existent today, and its price may not recover either.
BitDAO ($1.9 billion)
The BitDAO initiative has a sizable DAO treasury of $1.9 billion. Like Uniswap, most of its Treasury originates from the native token – $BIT – although there are sizable amounts of ETH, FTT, USDC, and USDT too. A more diversified approach – including stablecoins – can introduce some interesting opportunities on the Treasury front.
Governance-wise, BitDAO performs far worse than Uniswap, which is rather surprising. Almost 17,000 addresses hold the $BIT token, yet only 27 numbers have been active recently. That still resulted in six proposals and 54 votes, although those numbers do not spark any significant excitement whatsoever.
Mango DAO ($654.4 million)
As one of only two Treasuries on this list to note a decline in value over the past 24 hours, Mango DAO finds itself in a curious position. Though, a 5.4% decline is not necessarily too problematic when talking about hundreds of millions of dollars. As MNGO makes up 91% of holdings – and USDC is the rest – it is not hard to see where the decline originates.
What is intriguing is how less than 1,000 addresses are holding $MNGO tokens at this stage. Fishing from a smaller pool of users may prove beneficial in the long run, as there have been 388 active members in recent times. Moreover, they made 172 proposals attracting 2,400 votes. There certainly is more activity where this DAO is concerned.
Lido ($564.3 million)
The popular liquid staking provider operates under a DAO structure for users to provide feedback on the protocol, among other things. Thanks to $564.3 million in the DAO Treasury, the project ranks far higher than one would expect. As is to be expected, $LDO is the main source of value, followed by ETH (10%) and stETH (1.4%). All of these assets are relatively volatile but also align with the service Lido provides.
Per the statistics, over 13,000 unique addresses are holding $LDO. Just 462 of those are counted as active in recent days, which isn’t necessarily impressive. However, there have been 63 proposals and 1,500 votes. Overall, it would seem that Lido’s DAO structure is in a good place, and its Treasury looks rather healthy.
UXDProtocol ($563.4 million)
The second DAO Treasury to lose value in the past 24 hours belongs to UXDProtocol. A 28% dip is nothing abnormal when dealing with volatile assets, though. Its Treasury mainly consists of $UXP tokens, and 1.3% is kept in USDC. Anything that isn’t a stablecoin will go up and down in value.
Additionally, it is worth nothing UDXProtocol has 162 governance token holders, almost half of which are active regularly. The 196 proposals confirm that many interesting ideas are being put forward, although not all will turn into protocol changes. There were 799 votes, indicating every governance token holder has multiple votes on average.
CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio. Contact us if you have any questions: [email protected] None of the information on this website is investment or financial advice. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. No reviews should be taken at face value, always conduct your research before making financial commitments.