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 📰
💡 Aragon Introduces Gasless Onchain Voting for Ethereum Mainnet DAOs
Aragon has launched gasless onchain voting for Ethereum Mainnet DAOs, a breakthrough aimed at enhancing participation and security in governance. By integrating LayerZero V2 and ZKsync’s account abstraction, the update enables DAOs to offer gasless voting across any EVM chain. The plugin is flexible, bridging tokens while maintaining onchain security. This new tool removes gas fees as a barrier, allowing members to participate in DAO decisions without cost, thereby promoting more active engagement and onchain execution.
Source: blog.aragon.org
⏳ Vitalik Buterin Sets Deadline for Layer 2 Networks to Reach Decentralization Milestone
Vitalik Buterin has called on Ethereum Layer 2 networks to achieve “Stage 1” decentralization by the end of 2024, following concerns about centralization vulnerabilities such as the Velocore exploit. Stage 0 networks rely on centralized multisigs for security, while Stage 1 requires fraud or validity proofs to prevent unauthorized transactions. Buterin emphasizes this shift as crucial for ensuring trust and security in Ethereum Layer 2 networks, pushing the ecosystem toward full decentralization.
Source: cointelegraph.com
🧩 SingularityDAO Integrates Cogito Finance’s Tokenized RWAs into DeFi Product Suite
SingularityDAO is partnering with Cogito Finance to integrate Real World Assets (RWAs) into its AI-driven DynaVaults. Cogito’s tokenized RWAs, including U.S. Treasury Bills and Green Bonds, will provide low-risk, liquid investment options, blending DeFi and TradFi. This partnership enhances SingularityDAO’s portfolio management, offering secure, compliant, and institutional-grade products that bridge the gap between decentralized finance and traditional assets.
Source: news.investingcube.com
🚀 ZKsync Launches Onchain Governance
ZKsync has activated its new onchain governance system, emphasizing resilience, distribution, and mission alignment. The system is structured around three independent bodies—the Token Assembly, Security Council, and Guardians—that ensure checks and balances. This governance model empowers token holders, security experts, and values-driven participants to collectively manage protocol upgrades and safeguard against governance attacks.
Source: blog.zknation.io
🚔 TRON DAO and Tether Form Anti-Crime Task Force
TRON DAO, in partnership with Tether, has created the T3 Financial Crime Unit (T3 FCU) to tackle illegal activities involving USDT on the TRON blockchain. The task force has already frozen over $12 million in USDT tied to illicit activities. This collaboration aims to improve the security and integrity of the ecosystem by preventing criminal misuse of stablecoins. The move follows growing concerns about financial crime in the blockchain space and sets a proactive precedent for other industry players.
Source: cryptoslate.com
Weekly DAO Changes 📊
New DAOs State
Over the past week, a total of 86 new DAOs were created, reflecting a 0.04% addition ratio in the DAO ecosystem. The majority were created through Snapshot (55), followed by Aragon (28), and xDAO (3).
Top 3 Biggest Gainers and Losers
This week, Notional Finance takes the lead with a significant $1,139,918.63 increase in treasury value, marking a 90.51% rise, largely driven by a 78.5% surge in the $NOTE token. Jenny Metaverse DAO follows with a $390,122.46 increase, representing a 29.26% rise due to substantial fund inflows. Decentral Games also shows strong performance, with a $517,972.49 increase in treasury value, reflecting a 14.84% growth, boosted by a 19.5% rise in $BAG token value.
On the downside, ValleyDAO suffers a decline of $214,503.45, an 8.95% decrease attributed to a large outflow of funds. APWine also faces a $500,669.68 decrease, down 8.49%, as the $APW token saw an 8.2% drop. Finally, dHedge reports a $228,530.20 decrease, translating to a 7.91% decline, driven by a 3.9% fall in $DHT token value.
Governance Activity
The past 7 days, a total of 530 new members joined the DAO ecosystem, representing a minor increase of less than 0.01% in total DAO voters. Additionally, 77 new proposals were submitted, marking a <0.01% increase in overall proposal activity.
Proposal Participation Highlights
DEFI DAOs
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Gracy DAO: "[GP-7] GRACY Staking Reward Pool Setup" - 575 voters.
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Radiant Capital DAO: "RFP-45: Onboard cbBTC on Base" - 124 voters.
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DYOR DAO: "DYOR TOKEN LAUNCH" - 29 voters.
NFT DAOs
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Aavegotchi DAO: "[AGIP 132] Gotchi Battler V1.7 & V2 funding request" - 156 voters.
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Aavegotchi DAO: "Funding request for Grid Gladiator V1" - 117 voters.
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Botto DAO: "BIP-63: Botto Gets Based" - 9 voters.
Noteworthy Active Proposals 💡
💸 Uniswap Accountability Season 3 Renewal
This proposal seeks approval for the Uniswap Accountability Committee (UAC) Season 3 renewal, focusing on expanding its operational capacity and maintaining efficient DAO management. The UAC requests 37,038 UNI to support an increase in member hours, the addition of a fifth committee member, and continued oversight of critical DAO functions. It also includes a 42,060 UNI request to rebalance program budgets due to token price fluctuations, ensuring smooth funding for ongoing initiatives. An additional 5,496 UNI is proposed for a 16th delegate reward spot, bringing the total request to 84,594 UNI.
Voting ends on September 23, 2024.
Full Proposal: Uniswap Accountability S3 Renewal and Rebalance
👻 Gotchi Battler V1.7 & V2 Development Funding Request
The Gotchi Battler team is seeking $190k in funding to develop and release versions V1.7 and V2, focusing on game balance and new features for the web app and Unity app. Planned updates include open-sourcing game logic, player profiles, an item shop, and advanced 3D battles in V2. The budget covers 6 months of work by key developers, designers, and community managers, with $120k requested upfront and $70k upon completion of V2.
Voting ends on September 27, 2024.
Full Proposal: [AGIP 132] Gotchi Battler V1.7 & V2 funding request
🎯 ArbitrumDAO Proposes Off-Site Event for Better Collaboration
ArbitrumDAO has put forward a proposal to host an off-site event aimed at improving communication, strategic alignment, and collaboration among its key stakeholders. The event is intended to bring together delegates and token holders to address key issues such as DAO governance and organizational design through structured workshops and discussions. The community is currently voting on the event format, with options including in-person events around DevCon, a standalone off-site, or a fully online event. The funding request ranges from $35,000 to $166,000, depending on the final event format chosen.
Voting ends on September 20, 2024.
Full Proposal: ArbitrumDAO Off-site
⌐◨-◨ Nouns Plush Expansion by Sun-Min & David, Creators of Uglydoll
Sun-Min Kim and David, creators of the popular Uglydoll brand, are looking to bring Nouns-themed plush toys into Japan’s high-end retail and museum stores. With a focus on organic brand discovery, the plan includes leveraging established retail channels like LOFT to introduce Nouns in culturally meaningful locations. The proposers seek $153,500 to fund production, testing, and trade show exhibitions, aiming for long-term sustainability by reinvesting profits to expand into Korea, Taiwan, and beyond.
Voting ends on September 22, 2024.
Full Proposal: Nouns plush by the creators of Uglydol
💰 SafeDAO Proposes First Revenue Stream with Community-Aligned Fees
SafeDAO is considering its first-ever revenue stream through a community-aligned fee system tied to Native Swaps within the Safe{Wallet}. This model would generate revenue from third-party integrations, with all proceeds converted to SAFE tokens and controlled by SafeDAO. The proposal estimates an annual revenue of $2.5M based on current usage, with the potential for future growth. If approved, this would provide a sustainable income stream for the DAO, further empowering token holders to manage resource allocation and ecosystem development.
Voting ends on September 30, 2024
Full Proposal: [SEP 44] Creating SafeDAO’s first revenue stream through Community-Aligned Fees
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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.