Get your popcorn and prepare to be amazed by the educational statistics that define the DAOs landscape in 2023.
This article unveils fascinating trends and data points that showcase decentralized organizations’ rapid growth, transformative impact, and captivating potential. From market capitalization figures that demonstrate their prominence in the digital economy to community activity statistics that highlight the power of collective decision-making, these numbers provide a glimpse into the remarkable journey of DAOs.
Note: Remember that the crypto ecosystem is constantly developing, and most numbers are subject to change, but we will keep them up-to-date.
Fundamental DAOs statistics
Below are the most notable DAO statistics and common questions about decentralized organizations’ vertical of Webb3. We will get into more detail about these stats later in this article.
- How many DAOs are there in 2023?
As of June 2023, more than 12,700 DAOs were created across the Web3 space (source).
- How many active DAOs are there?
The number of active DAOs (with 1 and more proposals, proposal = idea that a community member wants the DAO to consider) has crossed 6,000 as of June 2022 (source).
- How big is the DAO market?
The market capitalization of all DAO tokens is more than 15 billion as of June 2023. However, during the last bull market, it crossed the 50 billion market cap mark (sources: 1 and 2).
- How many DAO users are there?
Across different DAO projects are 6.8 million holders of governance tokens and 2.5 million active voters/proposal makers (source).
» Additional read: DAOs trends and future outlook
We got to the meat of DAO stats. Keep reading if you want to get deeper and see more exciting stats.
DAOs growth statistics
As stated above, the overall number of DAO organizations is getting to the 13k mark. But how it all started, and how did we get here?
Ethereum founder Vitalik Buterin posted an article with his thoughts on DAOs in 2014. This year marks the start of the decentralized organization’s era. And we saw the first DAO sensation.
- In 2016, a blockchain-based investment fund, “The DAO,” raised over $150 million in crowdfunding.
Unfortunately, it faced a controversial hacker attack that led to its termination.
DAOs of all kinds got more traction during the last crypto bull run that began in the middle of 2020 and lasted until late 2021.
- Google Trends showed search interest for the “Decentralized autonomous organization” topic peaking (100 points) around that same time in 2021.
- According to DeepDao founder and CEO Eyal Eithcowich, there were 10 active DAOs in 2019 and around 76 in late 2020 (source).
- SnapshotLabs recorded 6,000+ DAOs with >= 1 community member proposal in June 2022 (source).
- The number of active DAOs has increased by 60,000% since 2019 (if we consider that, 1 proposal counts as activity).
- 203 DAO projects have their cryptocurrencies and tokens tracked and recorded by Coinmarketcap as of June 2023 (source).
Note: DAOs growth correlated to wider industries usage. These organizations are no longer limited to cryptocurrency-related projects but have expanded into other verticals such as NFTs, gaming, finance, and more.
DAOs market capitalization stats
Market cap statistics of DAOs are a clear indicator of how projects are performing in this category of crypto space and impacting the new digital economy.
- Today (June 18th, 2023), the Market cap of all DAOs resides at the $15.2 billion mark (source).
- All-time high (ATH) market cap numbers were close to $60 billion at the bull market’s peak in late 2021 (source).
- More than 50% of DAOs’ market capitalization is formed by the top 5 projects: Uniswap, Internet computer, Lido DAO, Arbitrum, and ApeCoin (source).
Note: These numbers could be even higher, considering that not all DAO tokens are actively traded on exchanges or some DAOs don’t issue cryptocurrencies but NFTs instead (e.g., Nouns DAO is governed by Nouns (NOUN), unique Non-Fungible Tokens rather than fungible tokens, further illustrating the diversity within the DAO ecosystem.)
» Additional stats: NFT industry statistics
DAOs community activity stats
A decentralized organization’s success highly depends on its vibrant community ecosystem. This section delves into community activity statistics within DAOs, highlighting its members’ dynamic engagement and participation.
DAO members and the community are critical in driving collaboration, decision-making, and the collective power that propels these innovative organizations forward.
- There are 6.8 million people holding governance tokens of one of the DAO projects.
- Not all holders participate actively in DAO communities, but 2.5 million voters and proposal makers are active (source).
- A select few DAOs drive proposal activity; over 65% of all proposals are from just 10% of DAOs (source).
- DAOs members voting peaked in November 2021 and crossed the 800k votes mark (source).
- Unfortunately, 50% of users have voted just once, and 75% of users have voted for just 1 DAO.
- Top 5 DAOs by active members: PancakeSwap, Aave, Balancer, OlympusDAO, and Uniswap. (source)
DAOs treasury assets stats
- As of June 2023, the total treasury assets of all DAOs are estimated to be $18.4 billion in USD, with $15.8 billion liquid and $2.5 billion vesting assets (source).
- DAOs mostly hold stablecoins on their balance sheets: USDC, DAI, USDT, and rapped crypto assets such as WETH and WBTC. Roughly 50% of DAOs prefer USD Coins for holdings (source).
- Treasury assets balances are mainly concentrated around the crypto-financial sector in DeFi and Venture capital DAOs.
DAOs application stats
The DAOs sector shows endless possibilities and the rise of revolutionary applications. DAO applications shed light on the potential these organizations bring to various industries. These projects are reshaping finance, governance, and beyond. From decentralized finance (DeFi) to decentralized art marketplaces, DAOs are revolutionizing how we transact, collaborate, and make decisions.
According to August 2022 research by Cointelegraph with Deepdao, based on a pull of 550, we can see the following trend of applications.
- 45% of DAOs are concentrated around the fintech sector, with 40% in DeFi and 5% in investments.
- The second largest DAOs sector is NFTs, with 17%, and the third is infrastructure projects, with 8% (For blockchain gaming statistics, visit this page).
- Etherium is the most popular blockchain and technology used for DAOs, with Binance second and Solana third.
- DAOs prefer to use the following social tools and apps to communicate: Twitter, Telegram, and Discord.
DAOs funding stats
The dynamic world of Decentralized Autonomous Organizations (DAOs) is deeply intertwined with the influential role of venture capital, propelling their growth to unprecedented heights.
Over the past few years, especially since 2021, venture capital has emerged as a powerful catalyst, fueling the funding of DAO projects and aligning with broader macroeconomic and crypto market dynamics. The VC dimension within DAOs presents itself from two distinct perspectives: venture capital investments in DAOs and DAOs taking on the role of venture capitalists, revolutionizing funding models within the decentralized landscape.
How much funding DAOs get?
- In Q1 of 2022, roughly $160 million of VC investments was poured into DAOs hitting the pick (source).
- DAOs accounted for 9% in Q1 2022 and 6% in Q2 2022 of all VC investments in the same period (source).
- Top 3 notable DAOs funding rounds in 2020-2022
- OrangeDAO raised $15 million in March and $80 million in August 2022.
- Utopia Labs raised $23 million in a Series A in May 2022.
- Alliance DAO raised $50 million in January 2022.
How DAOs use the funding they get?
- Throughout 2022, $102 million was allocated from the DAOs’ treasuries to internal DAO labor.
- Of most investments, 58% went to Product & Development expenses and 22% to the Growth category, aiming to grow protocol usage.
Research is done based on DAO budget payments across 10 DAOs and 5 categories: Product & Development, Growth, Operational, Marketing, and Community (source).
- DAOs also fund other projects, with over $60 million given in grants (source).
DAOs hacker attacks stats
Enter the darker side of DAOs as we uncover the sobering statistics surrounding attacks and hacks.
In this section, we delve into the world of malicious actions targeting DAOs, shedding light on the unfortunate incidents that have affected these innovative organizations. Brace yourself as we explore the alarming figures highlighting the vulnerability and security challenges faced by DAOs, underscoring the importance of robust security measures and constant vigilance in the ever-evolving landscape of decentralized finance.
- June 17th, 2016, marked the first biggest hack in DAOs history. The DAO project got attacked, and the hacker drained 3.6 million ETH (worth around USD 50 million) from the fund.
- On June 17, 2020, a hacker took advantage of a flaw in the Compound’s Price oracle system to mint over $150 million worth of COMP tokens.
- In December 2021, the Bitcoin DeFi project Badger DAO suffered a $120 million loss after scammers conned Badger DAO members into approving malicious transactions.
These are just a few examples of the biggest hacks. Rekt shows a leaderboard here if you want to learn more about the attacks and exploits of different projects.
Conclusion
In recent years we’ve witnessed a remarkable surge in the world of Decentralized Autonomous Organizations (DAOs), and the statistics speak volumes about their transformative power and potential.
From jaw-dropping market capitalization figures that underscore their growing prominence in the digital economy to the vibrant community activity that drives collaboration and decision-making. Furthermore, the rise of DAO applications has ushered in a new era of decentralized innovation, revolutionizing traditional sectors and paving the way for groundbreaking projects that redefine how we transact, collaborate, and fund ventures.