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 📰

🤖 Gnosis Labs Introduces Gnosis AI

Gnosis Labs has launched Gnosis AI, a new division dedicated to blending artificial intelligence with the web3 ecosystem. Gnosis AI focuses on agent-to-agent payments and prediction markets, aiming to position Gnosis as the key platform for AI agents in web3. Leveraging AI agents in prediction markets, the goal is to improve forecasting, risk management, and decision-making, promoting transparency and accuracy. Gnosis AI also plans to increase agent autonomy and improve the overall efficiency of their operations within the Gnosis ecosystem

Source: Gnosis Blog

👀 Compound Finance Faces Governance Turmoil

Compound Finance is embroiled in a governance dispute following the approval of proposal 289, passed on July 28, which has sparked allegations of a "governance attack" by the "Golden Boys" voting bloc. This proposal increases the COMP allocation for the goldCOMP treasury from 92,000 to 499,000 COMP, worth approximately $24.1 million. Critics argue this move centralizes control over funds. In response, a new governance proposal (290) seeks to transfer the Timelock Admin to CommunityMultiSig to prevent similar future initiatives.

Source: cointelegraph.com

📢 Aave DAO Introduces Lido-Specific Market

Aave Labs has launched the Aave V3 ETH Lido pool, partnering with Lido Finance to provide customized financial solutions using sETH and wstETH. This new market is set to offer flexible financial strategies, leveraging Aave’s V3 architecture for unique risk profiles and isolated collateral markets. Users of wstETH will benefit from additional staking rewards, improved collateralization, and optimized interest rates. The collaboration is expected to increase liquidity and drive long-term growth in Aave’s total value locked (TVL) and market share.

Source: cryptonewsz.com

☀️ SUN DAO by Sun.io

SUN.io has launched SUN DAO, a decentralized autonomous organization aimed at revolutionizing governance on the TRON blockchain. Central to this model is the veSUN certificate, allowing token holders to participate in decision-making. This shift to decentralized governance is expected to boost user participation, expand liquidity pools, and drive innovation within the SUN.io ecosystem.

Source: citybuzz.co

🚀 Elixir Launches 'Fully Decentralized' Synthetic Dollar to Compete with Ethena's USDe

Elixir has introduced its synthetic dollar, deUSD, to rival Ethena’s USDe, boasting $1 billion in liquidity for the new yield-bearing token. Elixir, known for its modular blockchain projects, uses stETH as collateral for deUSD, offering a delta-neutral position to maintain stability. Unlike Ethena’s USDe, which interacts with centralized exchanges, Elixir claims its synthetic dollar is fully decentralized, with open-source code and no reliance on centralized parties. This new asset is backed by substantial liquidity and support from DeFi platforms, positioning it as a resilient and transparent alternative in the synthetic stable asset market.

Source: theblock.co

Weekly DAO Changes 📊

New DAOs State

Over the past week, a total of 95 new DAOs were created, reflecting a 0.06% addition ratio in the overall DAO ecosystem. The majority were created through Snapshot (82), followed by Aragon (10) and Colony (3).

Top 3 Biggest Gainers and Losers

This week, ResearchHub Foundation takes the lead with a notable $80,744,931.73 increase, representing a 66.42% rise in treasury value due to a 60.3% uptick in $RSC token value. APWine follows with a significant gain of $2,830,021.22, showing a 27.72% increase, supported by a 42% rise in $APW token value. Code4rena also posts impressive growth, with a $167,249.48 increase, translating to a 27.32% rise in treasury value, driven by a large inflow of funds.

On the losing side, Nitro Cartel sees a steep decline of $419,801.25, marking a 30.11% drop in treasury value mainly because of a large outflow of funds. Jones DAO also faces a decrease of $1,461,906.67, a 26.57% drop, due to significant outflows. Lastly, Roko Network experiences a $1,438,616.83 decrease, equating to a 26.39% drop in treasury value, driven by a 23.7% fall in $ROKO token value.

Governance Activity

Over the past 7 days, a total of 98 new members joined the DAO ecosystem, representing a minor increase of less than 0.01% in total DAO voters. Additionally, 103 new proposals were submitted, marking a 0.01% increase in overall proposal activity.

Proposal Participation Highlights

DEFI DAOs

• Equilibria Finance: "[Epoch #60] Weekly Pendle Gauge Vote" - 251 voters.

• MetisDAO: "Ecosystem Proposal: Ormi - Bringing Ultra Low Latency and Reliable Data Indexing to Metis" - 108 voters.

• DYOR DAO: "DAO Governance №2" - 61 voters.

NFT DAOs

• Lil Nouns: "Lil Nouns Lab Initiative on Farcaster" - 26 voters.

• Lil Nouns: "Extending the Proposal Approval Timeline" - 18 voters.

• Rari DAO: "RRC-24 Empowering Latin American Artists Through Art (Corrected Version)" - 16 voters.

Noteworthy Active Proposals 💡

💰 DappRadar DAO Proposes Extension of SushiSwap V2 Rewards

With this proposal, DappRadar DAO aims to balance enhancing RADAR’s liquidity and addressing liquidity incentivization challenges, including impermanent loss risks to Liquidity Providers (LPs). DappRadar DAO proposes maintaining the APR on SushiSwap V2's ETH/RADAR pool at 120,889 RADAR per day, totaling 10,879,983 RADAR over three months. This strategy supports RADAR’s price stability while continuously reviewing the transition feasibility from V2 to V3 and exploring protocol-owned liquidity options on Ethereum.

Voting ends on August 1, 2024.

Full Proposal: [DCP-26] 🍣 SushiSwap V2 Rewards Extension (Re-up)

⚡ Rari DAO Proposes Governance Working Group Trial

Rari DAO has put forth a proposal to establish a three-month trial for a Governance Working Group (GWG) aimed at increasing the DAO's execution power. The GWG will moderate discourse, resolve disputes, maintain documentation, and train delegates for governance roles. his trial aims to transition governance from the RARI foundation to DAO delegates, with a final report to assess its effectiveness at the trial's end. Key goals include improving governance participation, operations, and documentation.

Voting ends on August 3, 2024.

Full Proposal: # RRC-31: Trial run a Governance Working Group

🌑 MoonDAO Proposes Shift to Ranked Choice Voting for Elections

MoonDAO has introduced a proposal (MDP-147) to transition its Executive Branch Leader election process to Instant Runoff Ranked Choice Voting (IRV). This change is intended to address the game theory issue posed by the current "first-past-the-post" system, which disadvantages third-party candidates. By adopting IRV, MoonDAO wants to ensure fairer elections where members can vote for their true preferences without fearing vote wastage.

Voting ends on August 5, 2024.

Full Proposal: MDP-147: Change Election Process to Ranked Choice Voting

🧙‍♂️ MakerDAO Proposes LITE-PSM-USDC-A Phase 1 Setup and Spark Proxy Spell

Governance Facilitators, Dewiz, Sidestream, and Phoenix Labs, have put forth an executive proposal for the setup of LITE-PSM-USDC-A Phase 1 and a Spark Proxy Spell. These actions will potentially improve the Maker Protocol's functionality and security, with an initial migration from PSM-USDC-A to LITE-PSM-USDC-A.

Voting ends on August 24, 2024.

Full Proposal: [Executive Proposal] LITE-PSM-USDC-A Phase 1 Setup, Spark Proxy Spell - July 25, 2024

💀 The Graph Proposes Deprecation of Mainnet Protocol

Pablo Carranza Velez of Edge & Node has proposed GGP-0044 to deprecate The Graph's L1 (mainnet) protocol, shifting all indexing rewards to L2 (Arbitrum One). Effective June 28, 2024, indexing rewards are fully on L2. By July 28, support for querying subgraphs on L1 will be removed, and by December 28, most transfer tools will be unsupported, marking the L1 protocol as End-Of-Life.

Voting ends on August 27, 2024.

Full Proposal: GGP-0044: Deprecate the L1 (mainnet) protocol

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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.