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 📰
🔥 DAOBase and Partners are "Bringing it On(Chain) at Devcon, Bangkok 🇹🇭"
Alongside our key Web3 partners Animoca brands, Colony, The Sandbox Game, Demether, Karpatkey, Aragon Project and Celo, we are hosting an exciting event in Bangkok on November 12.
Join us in exploring the onchain economy’s impact on finance, identity, and gaming, offering insights, networking, and a panel on customer app adoption. Attendees will enjoy Thai cuisine, inpiring insights and the chance to connect with thought leaders in the blockchain space.
See you there!
Source: lu.ma event page
👀 TON Foundation Unveils Society DAO
The TON Foundation has launched Society DAO, a governance model aimed at fostering decentralization and fair access to capital across the TON ecosystem. Society DAO, backed by TON Core, TON Society, Wallet in Telegram, and developer group TON Studio, will tackle issues of transparency and reduce centralization risks. By empowering community-led resource allocation and integrating self-custody options through Wallet on Telegram’s TON Space, the foundation seeks to provide Telegram’s 950 million users with seamless access to decentralized applications on TON.
Source: cointelegraph.com
⚡ XRP Ledger to Launch DAO, Pushing for Full Community Governance
The XRP Ledger (XRPL) ecosystem is gearing up for a transformative shift with the launch of a new Decentralized Autonomous Organization. Announced by XRPL Commons CEO David Bchiri, the DAO will establish an independent board and specialized committees to oversee core areas like development, compliance, and UNL publishing. This move aims to decentralize XRPL governance, amplifying transparency and putting the community in the driver’s seat of XRPL's future.
Source: bitcoinist.com
📈 Jones DAO Launches jHYPER to Boost Yields on $HYPER Tokens
Jones DAO has launched jHYPER, a new strategy aimed at driving user engagement and maximizing returns on $HYPER tokens through streamlined, automated compounding. Announced via their official social channels, Jones DAO highlighted jHYPER’s capacity to simplify earnings with a “set-and-forget” approach. Developed in collaboration with partners like Hidden Hand of Dinero and ThrusterFi, this new strategy offers two user options—one for maximizing yields and another for added liquidity flexibility—underscoring Jones DAO’s ongoing commitment to enhancing the DeFi experience for $HYPER token holders.
Source: blockchainreporter.net
📝 Sky Considers Deflationary Token Model for Core Token
Rune Christensen, co-founder of Sky (formerly MakerDAO), has introduced a proposal for a strictly deflationary token model aimed at eliminating regular token emissions to enhance stability and reduce inflation within the Maker ecosystem. This proposed model would include a systematic token burn process, allowing emissions only under severe financial strain to protect stablecoins USDS and DAI. Christensen’s proposal also introduces a reward mechanism with Star Tokens to incentivize governance engagement. Alongside this, the Maker community will vote from November 11–14 to decide on core token branding, choosing between retaining MKR or transitioning fully to SKY.
Source: bitget.com/news
📊 VeChain’s Q2-Q3 2024 Financial Report is Out
VeChain’s latest financial report is online, outlining a strong treasury position, with $304.9 million in Q2 adjusted to $287.9 million by Q3 2024. Key expenditures include $2.57 million toward sustainable development initiatives, $12.79 million in marketing partnerships like UFC, and $7.23 million invested in technical operations to enhance blockchain infrastructure and developer tools.
Source: crypto-news-flash.com
Weekly DAO Changes 📊
New DAOs State
Over the past week, a total of 69 new DAOs were created, reflecting a 0.04% addition ratio in the ecosystem. The majority were created through Snapshot (49), followed by Aragon (19) and xDAO (1).
Top 3 Biggest Gainers and Losers
This week, dHedge leads with a remarkable increase of $1,396,475.62, reflecting a 37.72% boost in treasury value, fueled by a 34.5% uptick in $DHT token value. ShapeShift DAO follows closely with a $4,948,979.64 increase, marking a 35.15% rise, bolstered by a 6.9% increase in $FOX token value. AVA Foundation rounds out the top gainers, posting a 24.19% increase due to substantial fund inflows totaling $135,488.05.
On the downside, AA Multisig experienced a significant drop of $4,766,675.10, down 88.9%, driven by a steep 94.1% decline in $ANT token value. Memeland also saw a substantial loss, with a decrease of $14,191,000.50, representing a 76.83% decline, linked to a 12.6% drop in $MEME token value. Finally, Originals DAO recorded a 71.91% drop in treasury value, losing $1,831,618.22 due to a large outflow of funds.
Governance Activity
The past 7 days, a total of 335 new members joined the DAO ecosystem, representing a minor 0.01% increase in total DAO voters. Additionally, 246 new proposals were submitted, marking a <0.01% increase in overall proposal activity.
Proposal Participation Highlights
DEFI DAOs
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Stargate: "Stargate Deployment to Sonic" - 8542 voters.
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Equilibria Finance: "[Epoch #74] Weekly Pendle Gauge Vote" - 1005 voters.
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SelfKey: "Merger of SelfKey into Singularity Finance" - 852 voters.
NFT DAOs
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Aavegotchi: "[AGIP135] Official DAPP new features added by the DAO" - 119 voters.
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Mutant Cats DAO: "Should the DAO approve the Thanksgiving Initiative?" - 112 voters.
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ENS DAO: "[EP 5.23] [Executable] blockful's governance security bounty" - 66 voters.
Noteworthy Active Proposals 💡
🛠️ 1inch Explores Fusion+ Upgrade for Improved Cross-Chain Swaps and Security
The 1inch DAO is evaluating a proposal to upgrade its interface with Fusion+, offering gasless, cross-chain swaps alongside bolstered security measures. The initiative, with a budget of $66,000 over six months, aims to streamline trading, improve the user experience, and introduce features like Permit2 and phishing protection. This modular approach is designed to integrate seamlessly with DApps and enhance infrastructure stability.
Voting ends on November 9, 2024.
Full Proposal: [1IP-66] - Transition to Fusion+ for the Alternative Modular Interface of 1inch
🌌 SPACE ID to Expand Rewards for Q4 2024 Cosmic Council Program
This SPACE ID proposal is requesting $16,500 from the DAO treasury to support its Cosmic Council rewards for Q4. The proposal will fund both community contributors and newly introduced KOL ambassadors, who will elevate SPACE ID’s visibility through active social media promotion. With a monthly distribution, the rewards are set to motivate continued contributions, attract fresh talent, and drive brand presence. Starting in November, 60% of the budget will go towards KOL contributors, enhancing SPACE ID’s reach and engagement across platforms.
Voting ends on November 12, 2024.
Full Proposal: [IDP10] Cosmic Council Program Rewards for Q4 of 2024
🗳️ ENS DAO Special Meta-Governance Working Group Elections
ENS DAO is holding a special election to appoint a new steward to its Meta-Governance Working Group after the recent resignation of Avsa.eth. The election, held under approval voting rules, allows community members to vote for any or all candidates they support. The candidate receiving the highest approvals will step into the role, ensuring continuity in governance through the remainder of Term 5.
Voting ends on November 10, 2024.
Full Proposal: Special Election: Meta-Governance Working Group Steward (Term 5 Vacancy)
🧬 Bio.xyz "Bionomics" Upgrade
Bio.xyz has proposed an upgrade to its Bionomics framework, shifting token allocations to support community and ecosystem development. The revised model increases the community allocation from 49% to 56%, reallocates 7% of tokens from core contributors to ecosystem incentives, and establishes a Molecule-led Ecosystem Fund.
Voting ends on November 8, 2024.
Full Proposal: BIOPSY-12 🧪 Bionomics Upgrade
🎮 StarHeroes Season 2 Leaderboard Point Distribution Finalization
StarHeroes is conducting a vote to determine the point distribution structure for the Season 2 Main Leaderboard. With two proposed options, the community will decide the weighting of points across gameplay, hero duties, and social activities. Option 1 favors Space Shooter performance with a 47.5% weighting, while Option 2 balances gameplay and hero duties at 40% each.
Voting ends on November 8, 2024.
Full Proposal: Season 2 Leaderboard Point Distribution Design
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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.