Since January 2022, the entire cryptocurrency economy has shed $1.36 trillion in value, dropping its market cap from $2.34 trillion to $979 billion today. While the value of the cryptocurrency economy is down, the volume of trade is lower, and the value held in decentralized finance (the challenge) has dumped billions, Treasuries held by Decentralized Autonomous Organizations (DAOs) have increased 7.69% in value since January, to nearly Of the $700 million added to the project caches in eight months.
DAO Bonds Jump 7.6% in Value of the US Dollar, Since 2016 the Value Held by Decentralized Independent Organizations has grown by 6,025%
On June 10, 2022, the total amount of funds held by DAO treasury bonds reached the $10 billion range for the first time in history. As the cryptocurrency industry deals with low prices and bearish sentiment, the value held by the DAO’s Treasuries has weathered the storm.
Currently, across 4,830 organizations, DAOs hold $9.8 billion, which is only $200 million less than the total value held by DAOs 112 days ago. While it’s $200 million less than it was three months ago, 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, collectively, $9.1 billion in DAO Treasuries. With $9.8 billion today, this represents a 7.69% increase in the value of the US dollar held by DAO Treasuries over the last 251 days.
At the time, Bitdao had $2.4 billion in treasury and was DAO’s largest treasury in January. Uniswap was the second largest company at the time, at $2.1 billion. Bitdao and Uniswap are still the best DAOs in terms of locker size, but Uniswap is now the largest.
On October 1, Uniswap was valued at $2.8 billion, while Bitdao’s cache shrank to $1.3 billion from $2.4 billion at the start of the year. Bitdao makes $1.3 billion the second largest treasury DAO followed by ENS which has nearly $1.2 billion.
251 days ago, ENS was 14th in terms of volume and at that time, Lido Finance was 3rd. Liquid staking protocol DAO is now the fifth largest, holding $283 million in Lido DAO today. DAO’s top ten treasury bonds include Uniswap, Bitdao, ENS, Gnosis, Lido, Olympus DAO, Mango DAO, Merit Circle, Compound, and Aragon Network.
Of the $9.8 billion total, 3.9 million are government token holders, and 698,400 are active voters and proposal makers. 109 DAOs have $1 million or more, while only three DAOs have more than a billion in funds.
While Uniswap holds $2.7 billion, 98.7% of the project’s treasury funds are held in uniswap (UNI) tokens, and Bitdao has a treasury made up of a range of different crypto assets that include tokens such as BIT, ETH, USDC, and USDT.
As the cryptocurrency economy continues to grapple with turbulent times, decentralized institutional independent treasuries have seen steady growth since the beginning of the year. Since the creation of the first DAO in 2016, DAO Treasuries have increased by 6,025% in value of the US dollar over the past six years.
What do you think of the thousands of DAOs today and the $9.8 billion held by DAO Treasuries? Tell us what you think about it in the comments section below.
photo credits: Shutterstock, Pixabay, Wikicommons
disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the Company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
from San Jose News Bulletin https://sjnewsbulletin.com/despite-crypto-market-downturn-dao-bonds-grow-by-700-million-since-january-defi-bitcoin-news/
No comments:
Post a Comment