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 📰

🔁 Jupiter DAO to Revisit Airdrop Proposal Following Governance Vote

Solana-based DEX Jupiter plans to revise its airdrop strategy after failing to secure the 70% supermajority required to approve a $1.6 billion JUP token distribution. The initial proposal, spanning two planned airdrops in January, garnered 58% approval from voters but fell short of consensus. The Jupiter DAO will conduct a second vote after addressing feedback from dissenting community members.

Source: decrypt.co

📝 Japan’s New Prime Minister Restructures Web3 and Crypto Policy Units

Prime Minister Shigeru Ishiba has reorganized Japan’s web3 and crypto policy-making framework, dissolving the Liberal Democratic Party’s (LDP) web3 Project Team (PT) in favor of a new unit within the Digital Society Promotion department. Former web3 policy chief Akihisa Shiozaki will lead the revamped team, signaling continuity in Japan’s blockchain ambitions. The reorganization reflects Ishiba’s commitment to pro-web3 policies, emphasizing tax reform, DAO promotion, and blockchain use in local development.

Source: cryptonews.com

🚨 Vestra DAO Faces $480K Exploit Within a Month of Launch

Vestra DAO has suffered a $480K exploit targeting its VSTR token staking contract, with stolen funds funneled through Tornado Cash. The attacker exploited a contract logic flaw, staking VSTR 30 days prior to initiate the breach, which allowed repeated withdrawals of 20,000 tokens per transaction. VSTR tokens lost significant value, dropping from $0.013 to $0.005, with half the market cap wiped out. While Vestra DAO claims user funds are safe, the project faces reputational damage, liquidity risks, and scrutiny over its security measures.

Source: binance.com/square

🛠️ VeBetterDAO Introduces NFT Upgrades, New Mascot, and Node Delegation

VeBetterDAO has launched Galaxy Member NFT upgrades, introduced its AI companion mascot B3MO, and unveiled Node Delegation, allowing node owners to share capabilities with delegated addresses. The upgrades link GM NFTs to node ownership, automatically adjusting tiers based on node status while enabling non-node users to upgrade via B3TR token donations. Node Delegation enhances community participation by securely transferring rights without compromising ownership. The launch has boosted B3TR token value, reflecting strong user engagement and anticipation for these ecosystem innovations.

Source: crypto-news-flash.com

🚀 SynFutures Launches Governance Token and Foundation to Boost Decentralization

SynFutures, a decentralized perpetual derivatives platform, is launching a governance token, F Token (F), alongside a new foundation to further decentralization efforts. The ERC-20 token will release 10 billion tokens over three years, with allocations to the community, backers, treasury, and contributors. The exchange has processed $235 billion in cumulative trading volume and recently raised $22 million in Series B funding. Governance mechanisms and staking incentives will follow the token launch, signaling a new chapter for SynFutures' community-driven evolution.

Source: cointelegraph.com

Weekly DAO Changes 📊

New DAOs State

Over the past week, a total of 81 new DAOs were created, reflecting a 0.05% addition ratio in the ecosystem. The majority were created through Snapshot (62), followed by Aragon (18) and xDAO (1).

Top 3 Biggest Gainers and Losers

This week, APWine DAO takes the spotlight with a massive $11,421,349.13 increase, representing an impressive 304.00% surge in treasury value, driven by a remarkable 305.2% increase in $APW token value. Curve follows closely with a $21,686,395.73 gain, reflecting a 120.00% rise in treasury value, fueled by a significant 127.5% uptick in $CRV token value. Braintrust also shows strong performance, with a $5,532,752.99 increase, equating to a 100.00% boost, supported by a 52.0% rise in $BTRST token value.

On the losing side, Lucidao records the steepest drop, with its treasury value plummeting by 79.00% ($2,109,636.99), driven by a sharp 92.1% decrease in $LCD token value. OlympusDAO DAO follows with a $46,588,037.28 reduction, equating to a 40.00% drop, largely attributed to a substantial outflow of funds. Lastly, Decentral Games experiences the most significant loss, with a 852,839.62 decrease, reflecting a 26% drop, due to a 23% decrease in $BAG Token.

Governance Activity

The past 7 days, a total of 526 new members joined the DAO ecosystem, representing a minor 0.01% increase in total DAO voters. Additionally, 411 new proposals were submitted, marking a <0.01% increase in overall proposal activity.

Proposal Participation Highlights

DEFI DAOs

• Stargate DAO: "Final Data RFP Vote - Choice of Artemis Options" - 7,112 voters.

• Arbitrum DAO: "[Non-consitutional] User Research: Why build on Arbitrum?" - 4,782 voters.

• Arbitrum DAO: "Designing and operating the reporting and information function" - 4,335 voters.

NFT DAOs

• Aavegotchi DAO: "[AGIP 140] Renewal and Election of DAO Facilitator Roles" - 277 voters.

• Aavegotchi DAO: "Rarity Farming Season 10" - 195 voters.

• Aavegotchi DAO: "Pixelcraft marketing funds for RF SZ10" - 168 voters.

Noteworthy Active Proposals 💡

⌐◨-◨ NNS Labs Proposes Final Act to Elevate the Nouniverse Ecosystem

NNS Labs has presented a proposal to Nouns DAO for a 12-month funding stream of $576K to finalize its vision for the Nouns ecosystem. The team aims to boost $NOGS utility, expand Noggles Club into a full platform, and launch recurring revenue systems like Resolver and Referral Rewards. With prior successes, including a $4M $NOGS airdrop and multiple ecosystem contributions, this mandate seeks to solidify financial sustainability for NounsDAO and broader community engagement across the Nouniverse.

Proposal voting closes on Dec 07, 2024.

Full Proposal: NNS Labs Season 3 - Final Act ⌐◨-◨

💰 SPACE ID DAO Eyes DeFi Yield with $1M Allocation to Latch Protocol

SPACE ID DAO proposes investing $1 million in stablecoins from its treasury into Latch Protocol’s DeFi vaults, targeting over 10% APY. This move is expected to generate approximately $100,000 annually, which will be reinvested into the DAO’s ecosystem. Latch’s audited contracts and cross-chain capabilities ensure security and liquidity, with funds accessible via the DAO’s multi-sig wallet. The initiative aims to enhance financial sustainability and diversify revenue streams for long-term growth.

Proposal voting closes on Dec 09, 2024.

Full Proposal: [IDP11] Allocate Idle Funds in DAO Treasury to the Latch Protocol for DeFi Yield

🎨 SquiggleDAO Seeks Unlimited Treasury Management Flexibility

SquiggleDAO has proposed removing the $1M cap on its treasury management activities, allowing multi-sig holders greater flexibility for yield generation and asset diversification. The proposal outlines previous successes, including $243K in unrealized ETH profits and effective use of treasury assets to generate $2.7M in value. It emphasizes a conservative approach, prioritizing long-term sustainability and careful selection of protocols, while empowering the DAO to seize future opportunities in a volatile market.

Proposal voting closes on Dec 07, 2024.

Full Proposal: SDGP-008: Treasury Management

🤝 Stargate DAO Finalizes Dashboard Options with Artemis

Stargate DAO has entered the final voting phase to decide between two Artemis dashboard options. The DAO can choose between an integrated dashboard within Artemis’ existing infrastructure for $90K (stables) or $120K (STG), or a standalone dashboard with a unique frontend for $200K (stables) or $240K (STG). The decision will shape the DAO's data analytics and visualization strategy, with Artemis poised to begin development immediately following the vote.

Proposal voting closes on Dec 06, 2024.

Full Proposal: Final Data RFP Vote - Choice of Artemis Options

🎉 FWB FEST 2025: Expanding Horizons in Culture and Technology

Friends With Benefits (FWB) proposes FWB FEST 2025, a premier cultural and tech event in Idyllwild, CA, slated for July 31-August 3, 2025. Building on 2024’s success, the festival aims to deepen partner collaborations, enhance community-focused experiences, and integrate $FWB as the native currency. With innovative ticketing models and strategic refinements, FEST 2025 is set to further bridge technology and culture, cementing its reputation as a pioneering event in the emergent tech space.

Proposal voting closes on Dec 10, 2024.

Full Proposal: FWB FEST 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.
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P.S. Happy 100k BTC Milestone everyone 🚀