Data Snacks

Data Snack: DAOs are gaining traction with consumers as well as regulators

  • The number of DAOs has increased by 8.8 times, reaching 6000.
  • A leaked draft of an upcoming bill shows that regulators may soon call for founders and users of all DAOs to disclose their identity to the government.
close

Email a Friend

Data Snack: DAOs are gaining traction with consumers as well as regulators

Recent data shared by Snapshot Labs’ Electric Capital Engineer Emre Caliskan shows that DAOs have increased in number by 8.8 times to 6000. The number of proposals and votes has seen a similar jump, with an increase of 8.5x in proposals and 8.3x in votes.

Source: Electric Capital

Although these findings point to a rising interest in DAO models, most of the increased activity was experienced by a small number of already popular DAOs. Most new proposals came from 10% of DAOs, while 60% of DAOs have had only 3 proposals since their foundation.

A recently leaked draft of an upcoming bill shows that regulators will soon be looking closely at all crypto platforms and protocols to safeguard users. This oversight may cut back on some of the freedom DeFi and DAOs have been enjoying so far and ask them to register with the government, as well as disclose the identity of their founders and users.

Meanwhile, Tron DAO, which is responsible for managing the algorithmic stablecoin USDD, bought $50 million worth of Bitcoin to “safeguard the overall blockchain industry and crypto market”. This move comes after stablecoin Terra’s fall from grace, prompting Tron to increase the capital backing for USDD to prevent a similar crash. The company will start publishing real-time data from June 5 on Tron DAO Reserve.

0 comments on “Data Snack: DAOs are gaining traction with consumers as well as regulators”

Data Snacks

Data Snack: Digital authentication is a hard nut to crack for banks

  • The age of passwords seems to be giving way to more frictionless mechanisms like biometrics or behavioral analysis.
  • Passwords, biometrics and Face ID are the computer engineer’s answer to traditional and real-world authentication processes.
Rabab Ahsan | November 08, 2022
Data Snacks

Data Snack: PayPal continues to report slow user growth, focusing on monetization

  • PayPal reported its third-quarter results last week, beating market expectations on both top and bottom lines.
  • However, much of the focus went towards its stagnant user growth figures, which left the market pondering over the firm's strategy through the market downturn.
Iulia Ciutina | November 07, 2022
Data Snacks, Member Exclusive

Data Snack: Cross-border payments prepare to digitize; cards and ATMs lose their sheen

  • Consumers and businesses alike now demand fast cross-border payments, but current systems can only go so far.
  • Newer technologies like APIs, tokenization, and blockchain come with the promise of secure lines and instant settlements.
Subboh Jaffery | October 31, 2022
Data Snacks

Data Snack: Crypto apps earn the most revenue per user, Cash App ranks third

  • A recent study explored the revenue made by finance apps to find out how much, on average, each app is making per user.
  • Results showed that crypto companies take the top two spots, followed by Cash App, which ranks third on the list.
Lindi Miti | October 28, 2022
Data Snacks, Member Exclusive

Data Snack: Businesses view digital payments favorably, but are wary of associated risks

  • Businesses are adopting digital payments in increasing numbers, motivated by rising consumer demand and the promise of operational efficiencies.
  • With digital payments, however, businesses also open themselves up to new risks. Over the last five years, the FBI reports that cybercrime losses in the US amounted to $18.7 billion.
Subboh Jaffery | October 19, 2022
More Articles