The bear market has meant many DAO tokens have witnessed a steep correction in their prices. Since most DAOs hold their tokens as their main treasury asset, this price correction has meant that many DAO treasuries have seen a significant drop in asset value.
Top 10 DAOs by Treasury Value (July,2022)
Uniswap – $3.5B
The world’s largest DAO by treasury assets continues to be Uniswap. The DAO that governs Ethereum’s leading decentralized exchange (also named Uniswap) has over $2.3 billion in liquid assets, and $1.2 billion in vesting tokens. Nearly 99% of the treasury is in UNI, Uniswap DAO’s governance token. The DAO’s treasury has recovered from lows in the past few months, largely due to the price increase in UNI.
BitDAO – $1.5B
Created by ByBit, BitDAO is the second largest DAO by treasury. Nearly 43% of its treasury in liquid BIT tokens, with no vesting tokens. 27% is held in Ethereum (ETH), and another 22.2% is held in stablecoins (14% is USDC, and 8.2% is USDT).
Gnosis – $1.5B
The world’s third largest DAO by treasury, Gnosis has the majority of its treasury in vesting tokens (including a recent $100m fundraise). Nearly 80% is held in GNO tokens, with another 15% in COW and 3.7% in SAFE tokens. The treasury had dipped below the $1 billion threshold in the past month, but has swiftly recovered.
OlympusDAO – $500M
The fourth largest DAO by assets is OlympusDAO, which governs the Olympus protocol. The entire treasury is comprised of liquid tokens. 43% is DISCO tokens, and another 25.4% are decentralized stabledoin DAI (by MakerDAO). 7% is SLP (Smooth Love Potion), the token from play-to-earn game Axie Infinity. Only 5.2% is OHM, the native token of the Olympus Protocol.
Lido – $375M
Lido is designed for ETH staking for Ethereum 2.0, and the DAO that manages the protocol is the fifth largest by asset value. Nearly 89% of the treasury is LIDO, the protocol’s native token, with another 9.1% in ETH and 2% in stETH.
Polkadot – $362M
Polkadot, which governs the Polkadot blockchain, is the sixth largest treasury. As expected with a blockchain DAO, 100% of the treasury is in the native token, Polkadot.
Merit Circle – $267M
The seventh largest treasury is the first gaming guild on our list – Merit Circle is a DAO focused on play-to-earn games. 86% of its treasury is in its governance token – MC. 11.5% is held in USDC, the stablecoin issued by Circle. 1.1% is in UNI.
Decentraland – $255M
Decentraland, the metaverse DAO, is the eighth largest treasury. 94 is in MANA – the native token of the protocol. Another 4% is in CLICK, and 1.6% is in SLP.
Mango DAO – $234M
The DAO that governs the Mango Markets Protocol, a decentralized exchange on the Solana blockchain, is the ninth largest DAO by treasury. 77% of its treasury is held in its token, MNGO, and the remaining 23% is held in USDC, the stablecoin.
Aave – $205M
Rounding out the top 10 is Aave, the lending and borrowing protocol on Ethereum. Nearly 28% of the DAO treasury is held in the protocol’s token (AAVE), and another 5.5% is held in aUSDC, the wrapped version of USDC.
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Note – this data is accurate as of August 2nd, 2022. Prices are likely to change and affect the information in this article.