Despite new innovations and experiments around DAO governance, whale holders are still a force to reckon with in the industry. Notably, three major holders have foiled the attempt of Decentraland DAO to elect a new committee member. Meanwhile, MakerDAO is set to deploy up to $100 million USDC on Yearn Finance.
Here’s a roundup of some of the hottest DAO news over the past week.
Uniswap to deploy v3 on BNB Chain
Earlier this week, Uniswap DAO approved a proposal to deploy v3 on BNB Chain. 0xPlasma Labs has been tasked with handling the integration on behalf of the DAO, a move that is expected to drive an additional $1 billion in Total Value Locked (TVL) and 1-2 million new users into the Uniswap ecosystem.
Whales block Decentraland DAO’s attempt to elect a new committee member
In what could be described as a classic textbook example of whale activity in DAOs, three individuals/entities have stalled Decentraland DAO’s attempt to elect a new committee member. The voting power of these whale holders (Beluga, MetaArchs (developers working on Decentraland), and an unnamed wallet) surpassed that of other community members. This meant that all five applicants who made it to the final selection were rejected.
MetisDAO Foundation debuts first end-to-end operational infrastructure for DACs
Touted as “the first operational system for decentralized autonomous companies (DACs),” MetisDAO Foundation recently announced the launch of KORIS. The new end-to-end operational infrastructure for DACs is designed to serve the needs of businesses by deploying smart contracts for company operations. The product, which is currently in closed beta, offers features such as Discord notifications, task and treasury management, voting, BLS Wallet Integration for gasless transactions, and payroll management.
Experts give their take on the business models in DAOs at DaoLens’ roundtable
Following the launch of its new product, DAO Manager, DaoLens hosted a roundtable with several prominent voices in the DAO space over the past week. Read about some of the key takeaways from the discussion, which focused on business models in DAOs
Overview of the current state of Decentraland DAO's treasury
Decentraland DAO currently holds approximately $27.3 million worth of assets in its treasury. Join us as we explore the current state of the DAO treasury of the popular metaverse platform – its revenue and expenditure.
- Vesper DAO has agreed to shut down pools with low participation, a decision that the DAO believes could help it save between $5,000 and $10,000 every year.
- Hop DAO has signed a standard service provider agreement (SPA) with Authereum Labs. The new official service provider will conduct open-ended research related to trustless cross-chain infrastructure, as well as research and develop a roadmap for Hop Protocol.
- On Monday, DeFi giant MakerDAO passed a proposal to deploy up to $100 million worth of USDC stablecoin from its reserve on Yearn Finance. MakerDAO will earn an estimated 2% annual yield on the USDC deposit.