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.

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

Natural disasters are disastrous for consumers’ financial health

  • 2 in 5 Americans live in states where losses due to natural disasters are higher than the national average.
  • But those in high-loss states are not covered by residential insurance at the same rate as those who live in low-loss states, which may leave consumers more financially vulnerable in the event of a natural disaster.
Rabab Ahsan | September 05, 2023
Data Snacks, Lending

46% of student loan borrowers aren’t ready to start making payments

  • Borrowers will be expected to start making student debt payments in October, but many report not being prepared for the end of forbearance.
  • Even though the government's Student Debt Forgiveness program was struck down by the Supreme Court, the government has introduced "on-ramp" policies that should ease the load of student debt payments in the first year. But many borrowers don't understand what these policies entail.
Rabab Ahsan | August 07, 2023
Data Snacks

Paying for the big white (and costly) wedding

  • The big white wedding is costly, and couples regret some of their expenditures.
  • Wedding costs present the financial industry with an opportunity to enable access to credit.
Rabab Ahsan | August 04, 2023
Data Snacks

What banks are prioritizing and focusing on for the rest of 2023

  • 2023 has come with its own shift in issues and priorities for banks.
  • On top of mind for most banks are deposits. 52% report it as a top priority.
Rabab Ahsan | June 28, 2023
Data Snacks, Fraud

Fraud and AML investigations are taking more time, but financial crime is getting faster

  • Money laundering in the US makes up 15% to 35% of all money laundering in the world.
  • Spending more time investigating financial crimes comes at a cost, yet most organizations are reporting increased timeframes. The criminals however are getting faster meanwhile.
Rabab Ahsan | June 08, 2023
More Articles