Over the past 12 months, the total number of Decentralized Autonomous Organizations (DAOs), the number of governance proposals put forward, and the number of votes have all grown a staggering 8x.
Emre Caliskan, an engineer at Electric Capital, shared data compiled by Snapshot Labs in a tweet on June 9, emphasizing that the total number of DAOs has increased 8.8 times, from 700 in May 2021 to 6,000 now. In the past 12 months, the number of proposals has increased by 8.5 times, and the total number of votes has increased by 8.3 times, from 448,000 to 3.7 million.
Snapshot is a decentralized governance engagement portal where DAO members can propose and vote on new initiatives, compiling data in partnership with Web3 investment firm Electric Capital.
While the findings make decentralized governance models look promising, the increase in participation was only driven by a handful of the most active DAOs. Most new proposals come from 10% of DAOs, and 60% of DAOs have three or fewer proposals from the beginning.
Still, the overall growth is an impressive demonstration of confidence in the DAO structure.
Data from its rival DeepDAO tracking tool is slightly different, showing only 4,833 DAOs as of June 10.
Caliskan attributes the increase in new proposals to the popularity and broad reach of the Constitution DAO. This is an organization formed last November to purchase the original copy of the U.S. Constitution. This DAO was beaten in an auction at the last minute, but it's a testament to the power these organizations can have.
Most DAO proposals come from only 10% of organizations
According to DeepDAO, PancakeSwap and Decentraland are the two DAOs with the largest number of proposals, with 3300 and 1200 proposals respectively. As of this writing, only the top 72 organizations have submitted at least 100 proposals.
While overall DAO growth numbers are promising, the U.S. Senate’s June 7 draft could dampen DAO growth if no changes are made. The draft requires all crypto projects to register with the government and disclose the identities of their users and founders.
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