DeepDAO Launches New Interface For Examining Health And Wealth Of The Top Decentralized Organizations In Crypto
DeepDAO Launches New Interface For Examining Health And Wealth Of The Top Decentralized Organizations In Crypto
September 8, 2020
DeepDAO Launches New Interface For Examining Health And Wealth Of The Top Decentralized Organizations In Crypto
DeepDAO Launches New Interface For Examining Health And Wealth Of The Top Decentralized Organizations In Crypto
September 8, 2020

DeepDAO has launched a new interface for examining the health and wealth of the top decentralized organizations in crypto, as it provides insights and analysis into decentralized autonomous organizations (DAOs).

According to Eyal Eithcowich, the founder and CEO of DeepDAO, the growth of active decentralized autonomous organizations are accelerating, increasing from 10 last year to around 76 today.

It has been reported that the platform’s data shows that a large assets under management (AUM) figure does not necessarily indicate the health and good governance of a DAO.

However, mStable, for instance, is the top-ranking project by assets under management and capital flows, as it ranks poorly by membership and proposals, with just nine members having voted on 29 proposals in total.

By contrast, dxDAO ranks second by proposals with 268, and third for membership, with 428, despite having less than 10% of mStable’s AUM.

It has been analyzed that the recent decentralized finance (DeFi) boo has given renewed importance to DAOs as a critical component of the cryptocurrency ecosystem, with many projects seeking to distribute governance voting rights among their users.

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Eithcowich described:

“All the DAOs together [to] provide very clear and approachable data to inform a discoverability engine.”

He said that his interest in a decentralized organization stems from his activist past, noting that he was “part of a movement that had decentralized ambitions” in 2008 in his home country of Israel.

After the organization rose to prominence as the largest party in Tel Aviv’s city council elections, Eithcowich said that power had consolidated around a small group of individuals, resulting in the exodus of many activists and the death of the movement by 2014.

He added:

“We had the best intentions, but we still collapsed into a very narrow structure.”

Likewise, Eithcowich predicts that DAO’s will disrupt the governing structures for a myriad of organizations in the wider community, including the structure of political parties, insurance firms, venture capital funds, sporting teams, and publishers.

As per the report, the revamped website provides key overviews of the DAO sector, including weekly and monthly fluctuations in assets under management (AUM), a tally of the total membership of DAOs combined, and a running score of the DAOs that represent more than $1 million in AUM or more than 100 members.

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Thus, according to a variety of metrics, individual DAOs are ranked including their fiat value, membership, the number of proposals put forth by an organization, and rates of voter participation in governance processes.

Source: Cointelegraph | Image: Legal Desire


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. She is an archetypal writer, who loves to create her own little world with words and locutions. Apart from this, her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
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