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Since January 2022, the entire crypto-economy has lost $1.36 trillion in value, as its market cap fell from $2.34 trillion to today’s $979 billion. While the crypto-economy is down in value, trading volumes are lower, and the value locked in decentralized finance (defi) has shed billions, treasuries held by decentralized autonomous organizations (DAOs) have increased by 7.69% in value since January, to approximately 700 million dollars were added to the projects’ caches in eight months.
On June 10, 2022, the total amount of funds held by Decentralized Autonomous Organizations (DAO) treasury reached $10 billion for the first time in history. While the crypto industry is dealing with lower prices and bearish sentiment, the value held by DAO taxes has managed to weather the storm.
Currently, across 4,830 organizations, DAOs hold $9.8 billion, which is only $200 million less than the combined value of DAOs 112 days ago. Although it is $200 million less than it was three months ago, the DAO’s treasury values have increased by $700 million since January, according to statistics compiled by deepdao.io.
As of January 22, deepdao.io metrics recorded by archive.org indicate that there were 4,227 organizations at the time, and a total of $9.1 billion was held in the DAO treasury. At $9.8 billion today, there is an increase of 7.69% in USD value held by DAO Treasuries over the last 251 days.
At the time, Bitdao had $2.4 billion in its treasury, and it was the largest DAO treasury in January. Uniswap was the second largest at the time, with $2.1 billion. Both Bitdao and Uniswap are still the top two DAOs in terms of treasury size, but Uniswap is now the largest.
As of October 1, Uniswap has $2.8 billion, while Bitdao’s cache has shrunk to $1.3 billion from $2.4 billion held at the beginning of the year. Bitdao’s $1.3 billion makes it the second largest DAO treasury, followed by ENS which has approximately $1.2 billion.
251 days ago, ENS was the 14th largest, and at that time the third largest was Lido Finance. Liquid Stake Protocol’s DAO is now the fifth largest, with $283 million held in the Lido DAO today. The top ten DAO treasure chests include Uniswap, Bitdao, ENS, Gnosis, Lido, Olympus DAO, Mango DAO, Merit Circle, Compound and Aragon Network.
Of the entire $9.8 billion, there are 3.9 million governance token holders and 698,400 active voters and proposers. 109 DAOs have $1 million or more, while only three DAOs have more than a billion in funds.
While Uniswap has $2.7 billion, 98.7% of the project’s treasury funds are held in uniswap (UNI) tokens, and Bitdao has a treasury that consists of a bunch of different cryptoassets that include tokens like BIT, ETH, USDC and USDT .
As the crypto economy continues to deal with tumultuous times, decentralized autonomous organization taxes have seen steady growth since the start of the year. Since the first DAO was established in 2016, the DAO’s government bonds have increased by 6.025% in USD value over the past six years.
What do you think about the thousands of DAOs today and the $9.8 billion held by DAO taxes? Let us know what you think about this topic in the comments section below.
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