Thus, A decentralized autonomous organization is built on rules encoded as a computer program. DAOs have no centralized authority and do not answer to governments and authorities, so DAO members are virtual owners of the organizations.
DAOs use blockchain technology to secure and protect their data from unauthorized use and hackers. As of now, the legal status of The DAO is unclear. DAOs trade cryptocurrencies and have recently gained newfound fame.
The DAO allows investors to send money globally and anonymously.
Each DAO has a native cryptocurrency that acts as a governance token. It allows the user to become part of the administrative committee and have a say in future decisions. The DAO token can also be used for several other purposes such as communication within the network.
The top 5 examples of DAO Crypto:
The world’s most popular decentralized crypto exchange, Uniswap, has taken the throne as the largest decentralized autonomous organization today. Uniswap token was launched in September 2020 and went on to become a legitimate DAO.
It primarily functions as one of the most active decentralized autonomous organizations today, offering thousands of tradable crypto tokens as opposed to centralized exchanges with barely a few hundred coins.
If you have been an active user for some time, you can request administrative rights within the organization and become an integrated member. Uniswap has seen exponential growth in volume and membership due to its firm control over the Defi markets.
Uniswap DAO has risen to prominence in the crypto community over the past few years. Today, Uniswap has a market cap of $3.6 billion with the popular DAO token UNI.
DAO Maker aims to become the largest provider of growth solutions for new crypto startups in the blockchain industry. This organization has been the driving force behind several successful projects in the past year, such as Infinity Pad (IPAD), Seascape Network (CWS), My Neighbor Alice (ALICE), and Orion Protocol (ORN).
The platform uses DAO as its native cryptocurrency. Users can stake it in DAO Maker vaults to get a return. Soon, the token will also be in use to enable community management. The current token supply is around 71 million DAOs, with a total market cap of $116.3 million.
In addition, DAO Maker explores newer avenues in the cryptocurrency sector by facilitating easy access to real-world assets. Since granting governance privileges to its members, DAO Maker has expanded into new areas to move tradable goods such as freight invoices, real estate (both commercial and agricultural), trade loans, and other claims.
It has also partnered with Centrifuge, another Defi service, to cover more real-world assets for investors.
BitDAO is one of the largest decentralized autonomous organizations committed to developing a decentralized tokenized economy ecosystem. The organization invests funds to grow and support other projects and partners in the Defi space. The organization has also facilitated several initiatives that can benefit the industry.
The native token, BIT, acts as a project management token. BIT holders have the right to propose and vote on any decision regarding the project. This means that all decisions are made with the approval of a community proposal and a proper vote.
The BIT token price is $0.8 at the time of writing, with a total market cap of $479 million.
Aragon is another popular decentralized autonomous organization that allows other platforms to implement their DAOs. It works to allow clients to connect with anyone from anywhere globally within the DAO infrastructure. Today this has almost 1500 decentralized autonomous organizations with around 350 million dollars in each!
The DAO of Aragon token, ANT, is quite popular among users. It gives users the right to decide the future of any project they are interested in. Aragon offers one of the best DAO tokens that allows token holders to create or join Aragon-based DAOs.
Aragon supports other platforms as well for creating their DAOs or similar projects through its Fundraising project. With a market cap of nearly $371.38 million, ANT is skyrocketing in DAO tokens.
Decred is another top-rated platform dealing with DAO projects. The platform’s native token, DCR, acts as the governing cryptocurrency.
It is a hybrid work machine that is a combination of proof-of-work and proof-of-stake consensus model. This is decentralized and self-governing, leaving very little room for radical political change.
Decred is very popular among new DAO members because it allows equal rights and project opportunities for everyone, not just a handful of large stakeholders and miners. Thus, Decred’s market cap is nearly $538 million.
Source: https://coingape.com/blog/want-to-trade-in-dao-here-are-the-top-5-platforms-for-it/