Every year the industry optimistically announces that 2018 or 2019 or 2020 will be “the year of the DAO.” Just watch, any minute now someone will tell you that about 2021.
While, personally, my favorite theme is how DAOs (or decentralized autonomous organizations, a way to organize capital without a centralized corporate structure) , when judged on their own promises and merits, in fact, we’ve seen lots of DAO action this year. And much of it is in the right direction. So let’s take a look at this year’s good, bad and ugly in the world of DAO.
The most positive development in the space is that DAO is being used for more than just random funding. While the technology is still far away from a full governance solution, the following use cases indicate that the range of applications is expanding beyond stablecoins and exchanges to include other DeFi apps and even some decentralized art collectives.
In terms of decentralized exchanges, dxDAO, Curve and Nectar all saw notable appreciation, while MakerDAO, mStable and Bancor continued to make their presence known in the world of decentralized finance (DeFi). The launch of the LAO, a law focused DAO, had notable experiments with governance while Trojan DAO and Dada.art attempted to gain a foothold in the burgeoning crypto art scene.
Aragon is the only DAO technology platform to date that is anywhere close to developing its own self-governance. In fact, it’s the only one even talking about it. This is a huge step towards the vision of DAO tech, which is to provide truly self-governing distributed software.
Aragon has continued to demonstrate outstanding leadership in developing a portfolio of improvements, both in governance – to launch a full DAO for its own governance and updates to the – and technologically (, , ). The DAO Governance module was a particularly bold transition.