DeepDAO, an internet site aggregating knowledge on decentralized autonomous organizations (DAOs), has raised $3 million for future growth in a spherical led by enterprise capital corporations Hypersphere and DFG.
An announcement asserts the “overwhelming demand for DeepDAO’s seed spherical exhibits robust curiosity in knowledge merchandise for the DAO area and the assumption the DAO ecosystem will develop.”
DeepDAO v1 presently supplies knowledge for greater than 100 DAOs, aggregating knowledge on organizations’ treasuries, membership, and governance.
In line with the positioning, DAOs presently characterize more than 66,000 members and $587 million in property below administration (AUM) — though the AUM has fallen 46% from greater than $1 billion up to now month amid the latest crypto market downtrend. DAO treasuries are nonetheless up greater than 300% since early November nevertheless.
Chatting with Cointelegraph, DeepDAO founder and CEO, Eyal Eithcowich, predicts the overall AUM of DAOs will exceed $10 billion in AUM and characterize a couple of million customers by the top of 2021.
Founding advisor to DeepDAO and Bitfwd Capital chairman, Daniel Bar said the group plans to increase knowledge protection, combine DAOs from further networks, and launch new governance instruments utilizing the funds. Bar additionally famous the platform will supply an enhanced person expertise, together with social feeds and boards, stating:
“The decentralized governance area is creating at a breakneck pace, DeepDAO is serving […] the DAO area by offering a one cease store the place governance will be tracked.”
“We’re dedicated to itemizing all these governance programs throughout a number of chains and platforms, discover and analyze them as one massive ecosystem, and supply social options and companies to allow a clear and lively group,” added Eithcowich.
Regardless of the speedy progress of DAOs over the previous yr, Bar notes quite a lot of challenges going through the nascent sector, together with id, standardization, and a steep studying curve.
“Most individuals nonetheless consider DAOs as a nebulous idea, the ‘Aha second’ that DAOs are Web3’s social community didn’t click on to most individuals but. However it’s getting nearer,” Bar stated.
Hypersphere companion, Jack Platts, described the DeepDAO platform as making decentralized governance “simply accessible to everybody,” stating:
“Decentralized protocols are ruled by their customers, however to unlock the transparency and inclusivity we want top quality instruments.”