Decentralized Autonomous Organizations (DAO) are at the core of blockchain. As the name implies, they're decentralized protocols not controlled by a central authority. Instead, DAOs have a bottom-up approach, enabling the community to govern the organization and determine the project's future. This article features the 10 best DAO crypto projects to invest in September 2023.
Uniswap is one of the pioneers in the decentralized exchange industry that are aimed to upgrade the crypto exchanging experience and enable no third-party cryptocurrency transactions. Uniswap uses the Ethereum blockchain which means that it enables swapping between all the ERC-20 tokens. All the ERC-20 tokens can be listed on the Uniswap exchange through the technology known as Smart contracts.
Lido DAO is a decentralized autonomous organization (DAO) which provides staking infrastructure for multiple blockchain networks. Most notably, the platform provides a liquid staking solution for Ethereum, allowing users to stake their ETH and receive stETH (Lido staked ETH) tokens in exchange, which represent the user's staked ETH and staking rewards.
Arbitrum is an Ethereum layer-two (L2) scaling solution. It uses optimistic rollups to achieve its goal of improving speed, scalability and cost-efficiency on Ethereum. Arbitrum benefits from the security and compatibility of Ethereum. Another benefit is the higher throughput and lower fees compared to Ethereum. That is made possible thanks to moving most of the computation and storage load off-chain.
The APE token is the native coin of the ApeCoin decentralized autonomous organization which aims to contribute to the Ape ecosystem. It is a governance token for the ApeCoin DAO and the holders can play a role in the decision-making process. Additionally, APE is used within several games, platforms, and services that build the APE ecosystem.
The Internet Computer blockchain incorporates a radical rethink of blockchain design, powered by innovations in cryptography. It provides the first "World Computer" blockchain that can be used to build almost any online system or service, including demanding web social media, without need for traditional IT such as cloud computing services.
Aragon is a decentralized autonomous organization and a structured block for others to introduce their DAOs. It aims to enable clients to connect with anybody from any place under the system of a DAO. It proclaims to be the platform for around 1,500 DAOs to date. These DAOs encompass around 350 million dollars in joined assets.
Maker (MKR) is the governance token of the MakerDAO and Maker Protocol — respectively a decentralized organization and a software platform, both based on the Ethereum blockchain — that allows users to issue and manage the DAI stablecoin.
Raid Guild is a decentralized group of hired professionals whose goal is to help their customers assemble, debug, and refine their Web3 projects. It is a non-proprietary decentralized network of website developers and designers who have a couple of Web3 projects added to their repertoire and expect to include them to their portfolio. Raid Guild functions utilizing the MetaCartel Network.
Founded in 2017, Compound is an Ethereum-based platform that enables people to borrow and lend cryptocurrencies in the liquidity pools. It is a type of decentralized exchange that works through the principle of the automated market maker so users do not need any third-party involvement to borrow or lend cryptocurrencies.
Another of the best DAO crypto projects to keep in mind is Aave. Like Compound, Aave is a decentralized lending protocol, allowing borrowers and lenders to interact without a centralized intermediary. The protocol was initially hosted on the Ethereum blockchain, but its popularity has allowed it to integrate with multiple other networks.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.