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 📰
💳 Uniswap Labs Launches Wallet Browser Extension Supporting 11 Blockchains
Uniswap Labs has launched its wallet browser extension on Chrome, supporting 11 blockchains including Ethereum, Base, and Arbitrum. Initially announced in February, the extension amassed 793,391 waitlist users and allows seamless crypto transactions directly from the browser sidebar.
Source: theblock.co
📢Animoca Brands Joins Core DAO as Validator, Advancing Web3 DApps Integration
Animoca Brands has joined Core DAO as a validator, enhancing Core's decentralization and collaboration within the Web3 ecosystem. This strategic partnership involves Animoca Brands securing the Core chain and contributing to Bitcoin finance (BTCFi). Additionally, Animoca Brands plans to integrate select decentralized applications from its portfolio into the Core network, driving innovation and expanding opportunities in the ecosystem.
Source: bsc.news
⚖️ UK Law Commission Sees No Need for DAO-Specific Legal Entity
The UK Law Commission recently published a scoping paper suggesting that decentralized autonomous organizations (DAOs) can be accommodated within existing financial regulations and tax frameworks, without the need for separate legal oversight. The paper highlights the complexity of implementing a blanket law due to the diverse nature of DAOs and recommends reviewing the Companies Act 2006 for oversight of DAOs operating as limited liability partnerships.
Source: cointelegraph.com
🦍 Apecoin launches ApeChain Testnet Curtis
ApeCoin launched the ApeChain testnet, Curtis, on July 16, marking a significant advancement in its blockchain capabilities. Built on Arbitrum Orbit, ApeChain enhances interoperability and performance, supporting decentralized applications in the ApeCoin ecosystem. This Layer 3 app chain aims to boost efficiency and scalability, particularly for web3 gaming applications, as it moves towards its mainnet release.
Source: nftevening.com
🤝 DeXe Partners with HOT to Empower Telegram with DAO Creation
DeXe Protocol, a leading DAO on the BNB chain, is teaming up with HOT, a fast-growing web3 application and wallet with 16 million users. This partnership aims to leverage HOT's extensive user base to enhance on-chain interaction and governance. HOT's 300,000 Villages will transition to a DAO model, becoming sub-DAOs with their own governance mechanisms. DeXe will provide the technical infrastructure, expanding its reach and integrating millions of users under the HOT DAO framework, creating a transparent and incentivized ecosystem for community participation.
Source: thedefiant.io
Weekly DAO Changes 📊
New DAOs State
Over the past week, a total of 70 new DAOs were created, reflecting a 0.05% addition ratio in the overall DAO ecosystem. The majority were created through Snapshot (40), followed by Aragon (20), xDAO (8) and Colony (2).
Top 3 Biggest Gainers and Losers
This week, Hot Boxy took the lead with a remarkable increase of $113,208,436.10, reflecting an 80.40% rise in treasury value, driven by a significant 80.4% surge in $BOXY token value. Dtravel followed, showcasing a strong gain of $4,684,551.80, a 75.43% boost in treasury value, supported by a 35.1% rise in $TRVL token value. Psy Finance also performed notably well, with a $637,487.87 increase, equating to a 54.66% rise in treasury balances, thanks to a substantial 132.2% increase in $PSY token value.
Conversely, Beanstalk DAO faced a sharp decline, losing $415,027.52 and seeing a 74.45% drop in treasury value due to a large outflow of funds. Spiral DAO reported a decrease of $802,179.20, a 36.05% reduction, primarily from significant fund withdrawals. Physis also encountered a decline, with a $19,925,372.74 reduction, representing a 31.60% drop in treasury value, driven by a 34.2% decrease in $PHY token value.
Governance Activity
Over the past 7 days, a total of 26 new members joined the DAO ecosystem, representing a minor increase of less than 0.01% in total DAO voters. Additionally, 105 new proposals were submitted, marking a 0.03% increase in overall proposal activity.
Proposal Participation Highlights
DEFI DAOs
Compound: "Update rsETH and weETH price feeds in cWETHv3 on Mainnet" - 14 voters.
Arbitrum DAO: "Pilot for a Questbook Jumpstart fund for problem definition and DAO improvement" - 14 voters.
Compound: "Add wstETH as collateral into cUSDCv3 on Arbitrum" - 14 voters.
NFT DAOs
Lil Nouns DAO: "Enhancing Participation with Extended Voting Period" - 13 voters.
Lil Nouns DAO: "Revisiting Auctions Duration Adjustments" - 12 voters.
Lil Nouns DAO: "Sponsor Lil Tuesday Trivia @ Noun O'Clock" - 12 voters.
Noteworthy Proposals 💡
💸 2024 Q3+Q4 Treasury Transfers for Cryptex Finance Operating Expenditures
Cryptex Finance proposes the transfer of assets from the treasury to support Q3 and Q4 operations. The proposal includes a budget increase of 125,000 USDC for part-time contributors to develop a new TCAP version and yield-generating vaults, 70,000 USDC for operational audits, and 75,000 USDC for a pending integration fee.
Voting ends on July 18, 2024.
Full Proposal: 2024 Operating Expenditures Treasury Transfers for Q3+Q4
🌑 MoonDAO Q2 2024 Incentives Distribution Proposal
MoonDAO proposes the distribution of Q2 2024 incentives, allocating 11,026,378.36 vMOONEY staked for 4 years and 18.1405 ETH among various completed projects. The community is tasked with reviewing project reports and voting on the proposed reward distribution.
Voting ends on July 22, 2024.
Full Proposal: MDP-146: Q2 2024 Incentives
🔮 Replenishment Proposal for Aura Ecosystem Fund
Aura DAO is considering a proposal to replenish the Aura Ecosystem Fund (AEF) with 244k USDC and 500k AURA. Established in Q3 2022, the AEF supports project development, security audits, contributor stipends, and more. The proposal includes returning unused off-chain funds to the treasury and focusing on on-chain fund operations. Total prior expenditures amounted to 654,933.27 USDC, with grants and security audits being significant expenses. This funding aims to sustain the growth and security of the Aura protocol.
Voting ends on July 21, 2024.
Full Proposal: [AIP-69] Replenish the Aura Ecosystem Fund
👨👨👦👦 Proposal for Head of Community Development at Frax
Frax DAO is reviewing a proposal to create a Head of Community Development position. The role includes managing the Discord server, weekly developer updates, and daily social media posts. The candidate, @westwood, brings extensive experience in community building and governance.
Voting ends on July 22, 2024.
Full Proposal: [FIP - 382] Head of Community Development
☕ Nounspresso: A Nouns-Owned Coffee Shop & Community Hub in Indonesia
Nounspresso proposes to establish Indonesia's first Nouns-branded coffee shop in Bandung, West Java, with a funding request of $154,535 USDC. The project aims to create a sustainable community space, returning profits to the Nouns Treasury annually. It will feature a coffee shop, merchandise store, and event space, using local coffee beans and employing local talent. The funds will be allocated in three phases for rent, renovation, furniture, licenses, marketing, and merchandise.
Voting ends on July 22, 2024.
Full Proposal: NOUNSPRESSO: A Sustainable, Nouns-Owned Coffee Shop & Community Space
Stay ahead of the game
Stay up-to-date with the most exciting updates, insights and DAO statistics as well as earn platform points (👀) by subscribing to the "The Weekly DAO" Newsletter!
🔗Useful Links
-
Website: https://daobase.ai/
-
Twitter: https://twitter.com/daobase_ai
-
Telegram: https://t.me/daobase_ai
-
Warpcast: https://warpcast.com/daobase
-
Medium: https://medium.com/@daobase_ai
⚠️ 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.