According to DeepDAO data, assets held in the DAO treasury have more than doubled since the beginning of 2023.
Funding for the decentralized autonomous organization (DAO) is growing rapidly and has just passed a major milestone, according to DeepDAO.
According to the DAO Data Platform, total assets across all decentralized autonomous organizations reached a record high of $25.1 billion on March 31.
The Treasury is the total amount of assets that the DAO can use at its discretion. It does not include assets that the DAO manages but has no owner, such as staking accounts and reward fees.
Of that, about $22 billion is in liquid funds and about $3.5 billion is vested, according to DeepDAO.
Notably, DAO treasury assets have more than doubled since the beginning of 2023, no mean feat during a bear market.
“The first time we aggregated DAO funds on DeepDAO, the total was $23 million, so we’ve seen 1,000x growth,” DeepDAO founder Eyal Eithcowich told Cointelegraph.
Furthermore, the $25.1 billion figure represents about 40% of the total value locked in all DeFi, as reported by DeFiLlama. It currently stands at $61.7 billion, up 39% since the beginning of the year.
DeepDAO is a discovery and analytics engine for the DAO ecosystem, listing and analyzing financial and governance data for the rapidly growing industry. DeepDAO reports that there are 12,108 DAOs, of which 2,353 are analyzed by the platform.
The biggest movers are layer 2 DAOs, Eithcowich said, with infrastructure now the leading category ahead of DeFi.
Daniel Bar of DeepDAO said, “For a long time, Uniswap and BitDAO were the only DAOs holding over $2B in treasuries, however, in the past week alone, the DeepDAO organization ranking board has added three giants: Arbitrum (over $4B) Optimism (over $5B), and Polygon (over $1B). This marks the total amount of DAO treasuries aggregated by DeepDAO exceeding $25B.”
Optimism Collective is the leader in treasury funds, with $5.5 billion in funds and 22% of the market share. According to L2beat, Optimism is the second most popular Ethereum layer-2 solution provider after Arbitrum One.
However, Arbitrum’s DAO funding is slightly lower at $4.4 billion, which represents a 17.5% share.
The remaining DAOs that make up the top five are BitDAO, Uniswap, and Polygon, with $2.6 billion, $2.5 billion, and $1.5 billion in funding, respectively.
DeepDAO also reports that the most active DAO over the past week was PancakeSwap, with 66 decisions. The total number of decisions across all DAOs analyzed over the past month was 3,300, down from 3,700 decisions in February.
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