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Tag: OlympusDAO

Blueberry Protocol Launches High-Leverage DeFi Hub Optimized For Liquidity Access and Risk Control

January 23, 2024 – Blueberry Protocol today announces the launch of its decentralized prime brokerage terminal, delivering industry-leading Loan-to-Value (LTV) ratios of up...

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MakerDAO Mulls Proposal To Boost DAI Savings Rate

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Pendle Descriptions

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OlympusDAO Hacker Returns $300K Hours After Attack

The hacker behind this morning’s $300,000 attack on OlympusDAO has returned the stolen funds. Hacker Returns Funds to OlympusDAO OlympusDAO has recovered all of its stolen funds. According to statements...

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Can New Launches from Aave and Sushi Usher in DeFi’s Comeback?

Sushiswap Sushi

Sushi rolls out long-awaited Trident framework on Polygon, while Aave’s V3 brings money markets cross-chain

The post Can New Launches from Aave and Sushi Usher in DeFi’s Comeback? appeared first on Blockworks.

Gitcoin Platform Raised $1.2 Million In ETH To Help Ukraine

The Gitcoin platform raised $1.2 million in ETH to help Ukraine and its fundraising round attracted participation from OpenSea, Chainlink, Polygon, NounsDAO, and OlympusDAO as well as other notable Web3 names so let’s read more in our latest Ethereum news. As the military conflict between Russia and Ukraine continues, Web3 gathered to help Ukraine and […]

Gitcoin Grants Have Raised $1.2 Million in Ethereum for Ukraine

Gitcoin’s round for Ukraine has attracted participation from Polygon, OpenSea, Chainlink, OlympusDAO, NounsDAO, and other Web3 names.

Crypto Taxes 2022: Here’s What You Need to Know According to CoinTracking

crypto-taxes-2022:-here’s-what-you-need-to-know-according-to-cointracking

PRESS RELEASE. Crypto changes quickly, with new tax laws and regulations coming to several countries in 2022, impacting how people need to report their crypto gains on taxes. New regulations in the US are a hot discussion topic among crypto investors, with a bill coming to fruition severely increasing the reporting needs for crypto brokers…

The post Crypto Taxes 2022: Here’s What You Need to Know According to CoinTracking appeared first on Bitcoin News Miner.

1/9/90 in Crypto

Distributed autonomous organizations (DAOs) are one of the most vibrant areas of crypto. DAOs are groups of people with the right to vote to change how a crypto company operates.

DAOs pop up for many different reasons: to form a social club that requires a token to join, to buy a copy of the Constitution, to manage open source software. Almost any group of people can organize a DAO to pursue a shared purpose.

Anyone holding a voting token can vote, much like anyone who buys a share of voting stock in a public company can vote during a shareholder meeting.

But DAO culture is unique. It’s no boardroom. The vibe is more Github, less Goldman.

Within DAO forums, token-holders propose ideas. Any member of the DAO can suggest a proposal, which members debate then ratify or strike-down. A proposal may advocate altering the roadmap (evolve from proof-of-work to proof-of-stake); or distributing some funds from the company’s treasury (as a dividend or to pay a vendor for a service); or advocate changes voting rules, among many other things. To get a feel for these types of conversations, visit Uniswap’s DAO.

DeepDAO, a provider of data on DAOs, counts more than 4000 DAOs with more than 0.5m active voters.[1] By examining the behavior of the top 20 most valuable DAOs, we can see some patterns emerge.

image First, DAO populations follow a power law. ENS (Ethereum Name Service), which sells usernames for people and names for wallets, manages the largest of these DAOs with more than 95,000 active members who have cast 98.6k votes across 15 different proposals.

In contrast, Radicle counts 68 active members for a DAO worth $249m who have cast 76 votes across 5 proposals, according to the DeepDao data.

image

Second, there seem to be at least two clusters DAO types by activity rate. Those with high member participation rates and those with very low participation rates. This behavior seems to be scale-free or independent of size.

ENS has more than 100,000 members and nearly 100% of them are active. Aave has a similar size voter base but the opposite level of activity. OlympusDAO and Ribbon break the mold with relatively large voting populations a moderate rate of activity at 25%.

What’s best? It depends on the goals of the DAO. A social club might seek maximum participation. A highly technical Defi protocol may prefer a coterie of experts to shepherd its direction. Some DAOs see many proposals. Decentraland, a 3D virtual world, counts more than one thousand; while others' ballots number in the single digits.

One of the key responsibilities of DAO founders will be determining how they prefer their community to behave, what norms they will seek to encourage. Setting those early will be key to the success of the DAO.

I suspect 1/9/90 heuristic - 1% of the population creates, 9% comments, and the remaining 90% lurk - will emerge as the dominant pattern. This rule seems to govern most social networks today and DAOs are another form of social network - one with hundreds of millions of dollars behind them.

DAOs hold the promise to a new way to organize people with a shared interest in project or purpose. We should expect some of the same behaviors in existing social networks to arise within DAOs, and some entirely new ones enabled by large treasuries and the voting construct that enables self-determination.


[1] DeepDAO is in alpha so there’s likely to be some tightening up of the numbers as the company progresses.
[2] Active rates are noisy because voters can provide their votes to a protocol proxy, who votes on their behalf.

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