The total number of decentralized autonomous organizations (DAOs) has increased significantly over the past 12 months. There have also been upward trends in DAO member activity.
Snapshot, a popular voting platform for decentralized autonomous organizations (DAOs), partnered with venture capital firm Electric Capital to analyze activity in the DAO sector. Emre Caliskan, an Engineer at Electric Capital, tweeted that the number of decentralized autonomous organizations has grown from 700 to 6,000 in the last year, an increase of more than 750%.
According to Snapshot, not only has the number of organizations increased, but their members have also become more active. For example, there has been an 8.5x increase in the number of proposals put to the vote and an 8.3x growth in the number of active voting members of the DAO.
According to DeepDAO, the number of organizations with decentralized governance as of 10:00 a.m. (GMT+3) on Monday, June 13, is 4,833, which is significantly less than what Caliskan indicated. However, even relying on the lower value, the DAO sector is growing at an annualized rate of about 600%.
Emre Caliskan says the main boost to the sector’s growth was the ConstitutionDAO, created to buy a rare first edition copy of the U.S. Constitution at auction. In November 2021, ConstitutionDAO managed to raise $47 million in crypto. And even though the purchase failed, it “was a pivotal moment for DAOs,” said Caliskan.
Notably, only 10% of decentralized organizations show community activity. So, Caliskan claims that 65% of all offers arise in one-tenth of all existing DAOs. DeepDAO reports that PancakeSwap and Decentraland are the leaders in the number of offers, with 3,300 and 1,200 offers, respectively.
Snapshot estimates that the number of active DAO participants has increased by 725% over the year, from 448,000 in May 2021 to 3.7 million in May 2022. According to DeepDAO, the number of active members during the last week increased by 18,400 and by 49,500 during the last month. As of the moment of writing, the number of active members is 670,500. The leader in user activity is Ethereum Name Service (ENS), whose participants contributed only 42 proposals, but 86,200 members took part in the voting.
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