State of the DAOs — May 2nd

3 min readMay 2, 2023

DAO treasury total shed another $630M, consistent with the ETH price retraction. Yet the number of DAOs and members keeps steadily growing, and there are as many active proposals as always.

DAO News

DAO Tokyo brought together various crypto leaders and DAO builders to discuss the future of the decentralized world.

CityDAO is building a decentralized blockchain city somewhere in Wyoming. Here’s what they’re up to so far.

Speaking of Wyoming, here is why this US state is so friendly to DAOs.

Not to be left behind, Utah passed its own DAO act, which grants DAOs legal recognition and liability protections.

Airbitrum’s is a drop that keeps on dropping as the DAO just gave 90 million ARB to 125 DAOs working with the Arbitrum ecosystem to promote and reward integrations that grow the Arbitrum network.

OlympusDAO’s proposal to deploy OHM LP pairs on Arbitrum passed with over 99% yes votes.

Per a recently approved proposal, Angle DAO is relaunching its borrowing module on multiple networks.

Gitcoin grants are back and its DAO just approved spending $95k in GTC to pilot specific quadratic funding rounds.

DAO Proposals

This week’s two high-importance proposals are by Gelato and the Friends With Benefits DAO. The former seeks to grow the DAO faster by allocating ~20% of the total GEL supply or 43% of the current treasury to future financing considerations. The latter wants to spin out a software company focused on expanding the use cases for the FWB token while keeping the other activities of the FWB DAO as a separate non-profit entity.