Home
News
- 1 A Decentralized Autonomous Organization (DAO) is a blockchain-governed organization working to bring revolutionary changes to centralized organizations.
- 2 Automated efficiency, less involvement of centralized authority in crypto transactions, and a high level of transparency boomed DAO’s value.
With centralized organizations, the chances of corruption, inefficiency, and high costs, increase. To resolve the issue to a certain extent, the concept of DAO was introduced to the crypto space. DAO is a decentralized organization running over the blockchain network to offer independent, transparent, and efficient services related to transactions. DAO works on the basis of smart contracts, making transactions more safe and faster.
Below are some powerful DAO Crypto projects to look at.
Uniswap (UNI)
The very first name on the list is Uniswap holding a market cap of $3.71 Billion with the current price of $4.396. It is one of the most popular exchanges on the decentralized protocol allowing users to trade crypto assets without any intermediators. Launched on the Ethereum blockchain in 2018, it revolutionized crypto trading with its unique features. The use of smart contracts to offer the decentralized trading of a wide range of digital assets makes Uniswap a reliable platform for crypto trading.
Lido Finance (LDO)
Lido Finance, launched in December 2020 is another popular name in the list. The platform allows users to stake digital assets on different Proof-of-Stake networks along with maintaining liquidity through stTokens. The current market cap of LDO is $2 Billion with a current price of $1.88. Lido is a multi-platform staking solution, offering crypto staking without fully locking the tokens that make the platform more useful and relevant.
Maker DAO (MKR)
The next top DAO project in the list is Maker DAO developed on the top of the Ethereum network, permitting users to borrow and generate stablecoin DAI. The platform was launched by Rune Christensen in 2014, to allow depositors to earn interest on the DAI. Maker protocol and Governance model are the main reasons behind the DAO’s popularity. The current price of Maker DAO is $1,166.80 with a market cap of $1.14 Billion.
Compound (COMP)
The next name in the list of top DAOs is Compound, an autonomous interest rate protocol designed to unlock the world of open financial applications. The protocol offers money markets with algorithmically set interest rates depending on the demand and supply. COMP was launched in June 2020, supporting lenders and borrowers working with well-known digital assets. COMP’s current price is $40.92 with a market cap of $318.67 Million.
Aave (AAVE)
Aave, launched in 2017 is another top DAO project to discover in September 2023. The current price of AAVE is $55.45 with a market cap of $818.37 Million. The platform made it easy for individuals to access and engage with financial services by offering open-source and non-custodial protocols to earn benefits. Also, AAVE holders have the power to govern the platform, creating and voting on proposals for platform updates and treasury making the platform an ideal choice for crypto trading.
Conclusion
DAO environment made interaction and crypto transactions much more efficient using the open-source protocol. Uniswap, Compound, Aave, Maker DAO, and Lido Finance are some top DAO platforms to discover in September 2023.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
