https://101blockchains.com/top-dao-tokens/#:~:text=The top DAO tokens are,privileges to the community members.
The most popular decentralized crypto exchange in the world has also introduced the biggest DAO in the crypto space. Uniswap launched its governance token in September 2020 and established its identity as an influential DAO. The primary functionalities of Uniswap as the best DAO project focus on community-controlled DeFi utility for Uniswap users. For example, the voting by Uniswap for reducing trading fees in certain stablecoin swaps resulted in exponential growth of volume. Therefore, one can notice how Uniswap clearly has a stronghold over the DeFi market as of now.
Uniswap DAO has garnered headlines in the crypto community for its broader implications. For example, a proposal on Uniswap in May aimed at using almost $40 million from the project’s treasury to establish political safeguards for DeFi in general. The proposal never saw the light of the day as the group favoring the proposal were delegates from a notable investment firm. As of now, Uniswap has a market capitalization of $9.94 billion with a popular DAO token in UNI.
Another top mention in a DAO tokens list would obviously refer to Maker. It focuses on introducing real-world assets into the crypto domain. As a matter of fact, the DAO Maker token aims to evolve into the largest central bank for DeFi. It also focuses on creating the largest decentralized stablecoin DAI. Maker has shown promising potential as the largest central bank in the DeFi with its algorithmic stablecoin DAI. The market capitalization of the stablecoin has jumped to almost $9 billion.
Interestingly, the DAO Maker token is exploring new territories in the crypto industry by facilitating the onboarding of real-world assets. Owners of the governance token of Maker DAO voted for using tokenized versions of short-term trade receivables, freight-shipping invoices, revenue-based small business loans, and agricultural real estate.
The project passed the proposals and leveraged Centrifuge for tokenization of non-crypto assets. In collaboration with Centrifuge, Maker has started exploring new dimensions for adding more real-world assets into the crypto sector. With a market cap of almost $2.12 billion, the DAO Maker token surely has some promising roads to cover ahead.
The next top entry among popular DAO projects would bring the name of BitDAO. It is the biggest DeFi treasury in the world, with almost $2.5 billion investments in various DeFi projects. The reputation of BitDAO in the DAO ecosystem is quite unique and relies largely on its innovative capabilities.
It has successfully accumulated a treasury of over $2.5 billion and has a market cap of $1.12 billion. Most important of all, BitDAO is one of the promising DAO examples where big investors have shown interest. For example, a Singapore-based crypto exchange, ByBit, has dedicated almost 0.025% of the total trading volume to BitDAO.
The future of BitDAO in the DAO tokens list seems to be quite promising as it ventures into DeFi investments. At the same time, BitDAO can also start rolling out grants alongside encouraging token swaps for diversifying their treasury. The DAO is presently focused on creating tools that can enable the use of DAO treasury for lending, staking, and other activities.
You could not go through a guide on “What is DAO token?” only to miss out on Aragon. It is another decentralized autonomous organization with a specific focus on allowing others to introduce their own DAOs. Aragon focuses on empowering clients to connect with anybody from any location within a DAO infrastructure. As of now, Aragon has almost 1500 DAOs which have almost $350 million locked in all of them.
The DAO token of Aragon, ANT, enables token holders to express their agreement or disagreement on the choices influencing operations. Aragon offers one of the top DAO tokens, which allows token holders to create or join Aragon-based DAOs. On top of it, the Aragon Fundraising project also focuses on empowering DAO members to collect fundraising for their organization. With almost $371.38 million in terms of market capitalization, ANT is surely one of the top entries among DAO tokens.
Dash is another example of how the best DAO project can become a driving factor for future of DeFi. It is a decentralized digital payment project focused on offering faster transactions in comparison to Bitcoin. The utility token of the DAO is DASH and has shown promising growth in recent times.
Almost 10.27 million DASH tokens are already in circulation. Most important of all, the $1.41 billion market capitalization of Dash present its DAO token in a favorable light. In addition, Dash has also been capitalizing on exceptional prospects for growth, particularly with high demand for anonymous transactions.
You could also find the name of Compound in a discussion about DAO examples, especially for its reputation in DeFi. Compound is a DeFi project known for offering crypto lending solutions to users alongside offering passive income for users. The utility token of Compound, COMP, has gained a formidable reputation among DAO tokens with price elevations. As of now, the market capitalization of Compound lies at $1.22 billion, thereby indicating a strong foundation for its growth.