Although the total number of DAOs and their participation rates have grown significantly over the past 12 months, this may not necessarily indicate that decentralized governance is gaining popularity. Therefore, how many DAOs are there in the world?
Although the total number of DAOs and their participation rates have grown significantly over the past 12 months, this may not necessarily indicate that decentralized governance is gaining popularity.
Over the past 12 months, there has been a startling 8-time increase in the overall number of decentralized autonomous organizations (DAO), the number of governance proposals submitted, and the number of votes cast.
Emre Caliskan, an Electric Capital Engineer, provided data collated by Snapshot Labs in a tweet on Thursday that showed the number of DAOs has expanded by 8.8 times, from 700 in May 2021 to 6,000in June. Over the past 12 months, from 448,000 to 3.7 million, there have been 8.5 times as many proposals and 8.3 times as many votes overall.
Snapshot is a platform for decentralized governance where DAO members can vote and propose new projects. Together with Web3 investment company Electric Capital, the data was gathered.
Although the results appear encouraging for decentralized governance models, only a small number of the most active DAOs were responsible for the rise in membership. Only 10% of DAOs submitted new proposals, and 60% of DAOs have had three or less submissions total since their creation.
However, the total growth is a striking demonstration of faith in the DAO structure.
There were only 4,833 DAOS as of Friday, according to rival DAO tracking tool DeepDAO, which offers slightly different statistics.
Caliskan attributed the rise in fresh suggestions to ConstitutionDAO's popularity and extensive media coverage. An organization with the goal of acquiring an original copy of the US Constitution was established in November. Despite being outbid at the last minute, the DAO demonstrated the potential such groups can possess.
PancakeSwap and Decentraland are the top two DAOs by proposal count, according to DeepDAO, with 3,300 and 1,200, respectively. At the time of writing, only the top 72 organizations had at least 100 proposals.
Despite the DAO's generally encouraging growth statistics, a draft bill released by the U.S. Senate on Tuesday may limit it if no amendments are made.
