Welcome to your weekly dose of DAO news! In this newsletter, we'll cover the most important changes, proposals, and developments within the DAO ecosystem. Stay up-to-DAO with the latest trends and innovations as we delve into the dynamic world of decentralized governance.

DAO News 📰

💝 Gitcoin Grants 22 Launches with $1.2M+ in Matching Funds

Gitcoin has announced the launch of its 22nd round of grants, running from October 23 to November 6. With over $1.2 million in total matching funds, GG22 aims to support open-source software (OSS) and community-driven projects. The round features $1 million allocated across four OSS rounds and an additional $125,000 for seven community rounds.

New features like Mint Attestations and Quick Bridge streamline the donation process, allowing donors to contribute across multiple blockchains. The round continues to use Quadratic Funding to maximize community impact, ensuring even small contributions can make a difference.

Source: gitcoin.co/blog

🤝 SingularityDAO, Cogito Finance, and SelfKey Unite to Launch AI-Focused EVM Layer-2

SingularityDAO, Cogito Finance, and SelfKey have merged to create Singularity Finance, a new EVM Layer-2 platform aimed at tokenizing AI assets and enhancing DeFi applications. As part of the merger, tokens from each project—SDAO, CGV, and KEY—will convert into a unified SFI token, with specific conversion ratios. This combined effort is set to improve access to the AI economy by integrating real-world AI assets into decentralized finance, using Cogito’s tokenization framework and SelfKey’s identity solutions. A governance vote will be held from October 21 to 31 to guide the new entity's direction.

Source: cryptobriefing.com

🔴 Mint Blockchain Secures $1.35 Million Grant from Optimism to Boost NFT Ecosystem

Mint Blockchain has received 750,000 OP tokens, worth $1.35 million, from Optimism Governance in its 28th grant cycle, aimed at advancing NFT innovation on its Ethereum Layer 2 network. The grant will support Mint Blockchain’s efforts to enhance its NFT ecosystem, focusing on reducing gas fees, improving developer tools, and establishing robust NFT standards. As part of the celebration, 25% of the funding will be allocated to future token distributions.

Source: news.bitcoin.com

🦄 Uniswap Foundation Launches Unichain Developer Grants to Empower DeFi Builders

The Uniswap Foundation has introduced Unichain Developer Grants, aimed at supporting builders on its new Ethereum Layer 2, Unichain. This grants program offers various funding opportunities, technical support, and access to hackathons, boosting innovation in DeFi. With grants up to $7,500 and a focus on improving swapping mechanisms, liquidity tools, and DeFi applications, Unichain is set to attract developers at every stage.

Source: uniswapfoundation.mirror.xyz

🌱 Secret Network Expands Confidential Computing to Solana

Secret Network has integrated its Confidential Computing Layer with Solana, introducing private voting, encrypted storage, and enhanced data privacy for NFTs and DeFi applications. This move enables developers to utilize Trusted Execution Environments (TEEs) on Solana, offering a secure way to handle encrypted data. The collaboration also unlocks new features like secure random number generation and encrypted order books.

Source: cryptonewsland.com

Weekly DAO Changes 📊

New DAOs State

Over the past week, a total of 78 new DAOs were created, reflecting a 0.04% addition ratio in the ecosystem. The majority were created through Snapshot (59), followed by Aragon (18) and xDAO (1).

Top 3 Biggest Gainers and Losers

This week, Perion DAO takes the lead with a remarkable $8,545,894.14 increase, representing a 62.00% surge in treasury value, thanks to a 69.1% rise in $PERION token. Cult DAO follows closely with a $1,701,563.84 gain, showing a 55.00% increase, driven by a 54.9% boost in $CULT token value. Botto DAO also records impressive growth, with a $2,552,884.74 rise, reflecting a 39.00% increase, primarily due to a 74.8% jump of $BOTTO token.

On the losing side, Nexus Mutual DAO sees a significant $6,286,904.29 decrease, marking an 80.00% drop, largely due to a substantial outflow of funds. Physis experiences a $2,634,927.44 decline, translating to a 31.00% drop, impacted by a fall in $PHY token value. Lastly, Spool DAO records a $1,381,984.70 decrease, reflecting a 21.00% drop, with $SPOOL token value falling by 27%

Governance Activity

The past 7 days, a total of 542 new members joined the DAO ecosystem, representing a minor 0.01% increase in total DAO voters. Additionally, 232 new proposals were submitted, marking a <0.01% increase in overall proposal activity.

Proposal Participation Highlights

DEFI DAOs

• Equilibria Finance: "[Epoch #71] Weekly Pendle Gauge Vote" - 1078 voters.

• DeFi Kingdoms: "Do we have the best booth at Permissionless?" - 631 voters.

• Stargate: "Integrate with LightLink Network" - 394 voters.

NFT DAOs

• Aavegotchi: "Aavegotchi x TheSandbox Expansion and Maintenance Renewal" - 316 voters.

• Aavegotchi: "Smol funding request for Grid Gladiator V1 ($8000)" - 306 voters.

• Aavegotchi: "[AGIP 133] Funding Renewal Proposal for Pixelcraft Studios, 2024-2025" - 242 voters.

Noteworthy Active Proposals 💡

⚙️ Stargate DAO Integration with LightLink Network

The LightLink Foundation proposes integrating Stargate v2 with LightLink, an Ethereum Layer 2 network known for its gasless transactions. This strategic partnership includes launching Stargate v2 on LightLink and introducing USDC and USDT through Hydra assets for enhanced cross-chain liquidity. The proposal offers 4,000,000 LL tokens in incentives, with backup from 250,000 STG tokens, and features a joint marketing campaign to drive user adoption. The partnership aims to boost cross-chain transactions and strengthen both platforms' positions in the DeFi ecosystem.

Voting ends on October 20, 2024.

Full Proposal: Integrate with LightLink Network

📈 Uniswap Proposes New Growth Program Trial to Boost Expansion and Ecosystem Support

The Uniswap DAO is evaluating a Growth Program Trial aimed at boosting business development, marketing, and securing incentives for its ecosystem. Co-led by AlphaGrowth and the MetaGov team, the initiative focuses on proactive outreach to new chains, enhanced marketing of existing deployments, and securing grants to attract liquidity. The proposal highlights a 6-month trial period to implement these strategies, with a budget allocated for engaging new partners, deploying Uniswap v4, and amplifying liquidity incentives across multiple platforms.

Voting ends on October 21, 2024.

Full Proposal: Uniswap Growth Program Trial

🗳️ GMX Governance Committee Election

GMX is holding elections to select five new council members for its Arbitrum Governance Committee. The process allows voters to choose up to five candidates from a pool of experienced applicants, each bringing expertise in governance, grants management, and community engagement within GMX and Arbitrum ecosystems. The top five vote-getters will join the council to shape the future direction of GMX governance.

Voting ends on October 21, 2024.

Full Proposal: GMX Governance Committee Election

👻 Aavegotchi x TheSandbox Expansion

GFA Studio has submitted a proposal to the Aavegotchi DAO, requesting funding for a six-month extension to continue its collaboration with The Sandbox. The plan includes managing Aavegotchi’s presence in The Sandbox, updating in-game avatars, and organizing events like Alpha Season 4. The proposal seeks $26,940 in funding to strengthen Aavegotchi's integration and visibility within The Sandbox's ecosystem.

Voting ends on October 25, 2024.

Full Proposal: Aavegotchi x TheSandbox Expansion and Maintenance Renewal

🎯 Arbitrum DAO Events Budget for 2025

Arbitrum DAO is considering a $1.5 million budget for its 2025 events strategy, focusing on in-person delegate gatherings and ecosystem growth events at major industry conferences like ETHDenver and Bitcoin 2025. Managed by Entropy Advisors, the ADPC, and Disruption Joe, this proposal seeks to streamline event coordination and improve the DAO’s presence in the blockchain space.

Full Proposal: Establishing a DAO Events Budget for 2025

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⚠️ Disclaimer: The information provided in this newsletter is for informational purposes only and should not be considered as financial advice. Readers are encouraged to conduct their own research before making any investment decisions.