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”

Banking, Data Snacks

Data Snack: 65% of customers expect primary banks to be fully online in the next 5 years

  • Only 35% of customers expect primary banks to maintain offline channels and presence in the next 5 years.
  • Banking executives are drilling down on the areas they think are most important: integration and product offerings.
Rabab Ahsan | January 23, 2023
Data Snacks, Member Exclusive

Data Snack: Banks may have a ways to go to get more tech talent

  • Banks have been putting a whole lot of effort into getting tech talent onboard.
  • But the salary hikes aren’t doing the trick, it seems, with only 15% of banks’ workforce comprising IT roles.
Rivka Abramson | December 28, 2022
Data Snacks, Member Exclusive

Data Snack: This year, banks are less optimistic about their future

  • Banks have their work cut out for them with macroeconomic headwinds and rising competition from fintechs.
  • Confidence in the future is swaying due to structural and process-based issues. Could partnering with the right technology company be the answer to these bank woes?
Rabab Ahsan | December 12, 2022
Data Snacks, Member Exclusive

Data Snack: The dawn of bank branch 2.0?

  • The ‘death of the branch’ saga was all the rage back in 2020.
  • But now, with back-to-routine vibes emerging, it’s time to re-evaluate the role of a bank branch.
Rivka Abramson | December 05, 2022
Data Snacks, Member Exclusive

Data Snack: Millennial retail traders rise during the bear market

  • Millennials opened 46% of all new retail trading accounts in the first half of 2022, according to DriveWealth’s Global Investor Report.
  • The ability to invest with small dollar amounts was the most frequently cited motivator to start investing.
Lindi Miti | December 01, 2022
More Articles