State of the DAOs — September 21st

DeXe Protocol
2 min readSep 21


BitDAO’s treasury regains the top spot while Magic Square’s lifetime vote count reaches 8 figures.

DAO News

At Singapore’s Token2049 event, Polygon introduced Polygon 2.0, which it touts as the “value layer” of Web3.

Speaking of Polygon, CoffeeDAO is minting COFFEE tokens on Polygon and giving them out to people purchasing coffee in local coffee shops in an attempt to decentralize cafes and build a local loyalty program.

Mantle Network (formerly known as BitDAO) has launched a $200M ecosystem development fund.

Polkadot’s introduction of Polkadot OpenGov is having some controversial side effects.

The Nouns DAO fork is now official, with around half of its NFT holders taking the fork and $27M in ETH with them.

There is a proposal in ApeCoin DAO to establish a sister DAO for the purpose of buying influential NFTs.

DeFi protocol Gro DAO voted to dissolve itself after its main product failed to gain traction.

DAO Proposals

18 mid- and 20 low-importance proposals this week.

Most proposals deal with Team (10), Governance (7), and Parameters (7). Osmosis is still the most active DAO.

DAOs with the most lifetime votes:

Magic Square is leading the pack with over 11M lifetime votes, with Stargate Finance looking to also break into 8 figures soon.

Magic Square — 11,295,255

Stargate Finance — 9,870,526

Aave — 2,488,125

Optimism — 1,142,373

Arbitrum — 865,328

Stay tuned!

Website | Telegram channel | Binance Feed | Telegram chat | DeBank | Facebook | Medium| LinkedIn | Twitter | Reddit | Discord



DeXe Protocol

An innovative infrastructure for creating and governing DAOs.