Imagine an organization where decisions aren’t made by a select few at the top but are instead shaped by a diverse community of stakeholders who vote on every crucial decision. Welcome to the world of Decentralized Autonomous Organizations, or DAOs.
This article will look into what DAOs are and why they are important in the world of Blockchain.
We will also look at what we think are the 10 best DAO projects to invest in 2023.
So, let’s start with the basics. 👇
What is a DAO in crypto?
A DAO is a digital organization that leverages blockchain technology to facilitate a democratic governance system. In a DAO, every decision, from budget allocation to strategic direction, is reached through collective voting by members who hold the organization’s tokens.
Let’s break it down further:
“Decentralized” refers to the fact that no single party has complete control over the entire network.
“Autonomous” signifies the self-governing aspect of DAOs, where smart contracts (programmable contracts that self-execute when predefined conditions are met) automatically execute actions without requiring manual intervention.
Lastly, an “Organization” refers to a collective of individuals united by a common goal.
In essence, DAOs represent the democratization of blockchain technology. They bring about a new form of governance model where transparency, inclusivity, and shared decision-making are not just idealistic aspirations but actual realities. DAOs truly embody the democratic ethos of the blockchain revolution, potentially transforming the way we think about organizational structure and decision-making processes.
How do DAOs work?
DAOs are unique digital organizations powered by predefined rules. At their core, DAOs operate on smart contracts—self-executing agreements in code—that automatically perform actions like token transfers or decision executions once certain conditions are met.
Every DAO member holds tokens representing their voting power, with more tokens equating to more influence. Members can propose changes, which are then discussed and voted upon by the community.
All transactions and decisions within a DAO are publicly recorded on the blockchain, providing transparency and security. DAOs function autonomously, operating based on the rules established by their smart contracts. Changes are only possible through member consensus, eliminating the need for a central authority and ensuring resilience.
So, what benefits does such an organization system offer? Let’s find out. 👇
Benefits of DAOs
DAOs introduce a novel approach to organizational governance, carrying multiple advantages that redefine the way we collaborate and make decisions. These benefits include:
1. Democratized Decision-Making
DAOs put power back into the hands of the people. Every token holder has a say in decisions, ensuring a more democratic, equitable distribution of influence. This leads to a system where the best ideas can win, not just the ones backed by powerful individuals.
2. Transparency
In DAOs, all transactions and decisions are recorded on a public blockchain. This results in unmatched levels of transparency, as every action can be audited and verified by any participant, fostering a high degree of trust within the community.
3. Reduced Bureaucracy
DAOs remove the need for traditional bureaucratic structures. With smart contracts automating many tasks, administrative red tape can be drastically reduced, speeding up processes and lowering costs.
4. Global Inclusion
DAOs have no geographical boundaries. Anyone, anywhere, can participate, making DAOs a truly global phenomenon that’s accessible to anyone with internet access.
5. Resilience
Given their decentralized nature, DAOs are less susceptible to single points of failure. This leads to high levels of robustness and resilience, as issues or attacks at one point in the network don’t compromise the entire organization.
6. Innovation
DAOs provide a fertile ground for innovation. By bringing together diverse stakeholders and fostering a collaborative, open-source culture, they enable and incentivize continuous improvement and novel solutions.
Investing in DAOs means buying into these benefits and the transformative potential they hold. As we journey into our list of top DAOs to invest in 2023, keep these advantages in mind to understand the value these projects bring to the table.
10 Best DAO Projects to Invest in 2023
So, let’s dive into our top 10 DAOs list, keeping in mind that the token information below was collected in July 2023.
1. Uniswap (UNI)
Uniswap is a decentralized exchange platform (DEX) that was established in 2018 and has since evolved into a major decentralized autonomous organization (DAO). Built on Ethereum, Uniswap pioneered the automated liquidity protocol, allowing anyone with an Ethereum wallet to trade ERC20 tokens directly from their wallet app.
Uniswap’s innovative design eliminates the need for order books, instead using a formula to automatically calculate prices. This approach has proven to be extremely efficient and has subsequently been adopted by many other DEXs.
Uniswap is also unique in its truly permissionless nature. Anyone can list a token on the platform without needing approval, making Uniswap a vital tool for many up-and-coming projects in the Ethereum ecosystem.
The democratized and decentralized nature of Uniswap, its innovative automated liquidity provision, and its status as a forerunner in the DeFi space all contribute to making it a promising investment opportunity.
UNI Tokenomics
The UNI token was introduced in 2020 as the platform’s governance token. Holders of UNI tokens can vote on governance proposals, influencing the direction of Uniswap’s development and future updates.
UNI all-time price chart. Source: CoinMarketCap
| UNI Price | $5.623 |
| Trading Volume 24h | $75 M |
| Market Cap | $3.2 B |
| Circulating Supply | 577.501 M UNI |
| Total Supply | 1 B UNI |
| Market Rank | #24 |
UNI price prediction
DigitalCoinPrice predicts Uniswap (UNI) will rise to $11.96 by 2023, $18.86 by 2025, and $58.21 by 2030. In contrast, Priceprediction.net gives lower estimates for 2023 at $6.43, but higher for 2025 at $13.57 and a substantial $89.60 by 2030. These varying outlooks indicate that, while there’s consensus on a positive trend, the exact growth trajectory remains uncertain.
2. Internet Computer Protocol (ICP)
The Internet Computer Protocol (ICP), created by the DFINITY Foundation, is an ambitious project launched in 2021. Its goal is to extend the functionality of the public Internet to host backend software, replacing legacy IT infrastructure.
This groundbreaking platform creates a seamless environment where developers can build and deploy smart contracts that run at web speed, serve web content to users, and can directly interact with each other. This capability eliminates the need for centralized servers, databases, and commercial cloud services, making the internet itself a global computer.
ICP’s design stands out for its “Chain Key Technology,” which enables it to update smart contracts within 1-2 seconds, a significant leap from other platforms. Its governance system, the Network Nervous System (NNS), is also unique, managing everything from the economics of the network to upgrades.
ICP Tokenomics
The ICP token serves a crucial role in the platform, as it’s used in governance, providing the holders with voting power, and it’s also used to pay for computation and storage on the network.
ICP all-time price chart. Source: CoinMarketCap
| ICP Price | $4.52 |
| Trading Volume 24h | $32 M |
| Market Cap | $1.97 B |
| Circulating Supply | 437.68 million ICP |
| Total Supply | 500.15 million ICP |
| Market Rank | #31 |
ICP price prediction
For the Internet Computer Protocol (ICP), DigitalCoinPrice projects a climb to $9.29 in 2023, $15.70 in 2025, and $46.24 by 2030. In contrast, Priceprediction.net provides a lower 2023 estimate at $5.15, a slightly lower 2025 forecast at $10.88, but anticipates a significant leap to $75.41 by 2030. Despite variations in magnitude, both sources suggest a continued upward trend for ICP in the coming years.
3. Lido DAO (LDO)
Lido DAO is a decentralized and autonomous staking protocol that was launched in 2020. Operating on the Ethereum network, it offers a solution for Ethereum 2.0’s staking dilemma, allowing users to stake their Ether (ETH) without having to lock it away until the completion of the ETH 2.0 upgrade.
Lido’s unique design addresses the rigidity of ETH 2.0 staking, where staked ETH is locked and illiquid until the completion of Ethereum’s upgrade. With Lido, users receive stETH tokens in return for their staked ETH, and these stETH tokens represent the staked ETH plus staking rewards and are freely tradable.
Lido DAO is also distinctive in that it allows for liquid staking not only for Ethereum but also for other proof-of-stake blockchains like Terra and Solana, marking it as a multi-chain liquid staking solution.
The open and democratic nature of Lido DAO, its innovative solution to the problem of staking liquidity in ETH 2.0, and its ability to extend its services across multiple chains contribute to its status as a promising investment opportunity.
LDO Tokenomics
The LDO token is the governance token of Lido DAO. Token holders can vote on governance proposals, dictating the protocol’s evolution and future developments.
LDO all-time price chart. Source: CoinMarketCap
| LDO Price | $2.20 |
| Trading Volume 24h | $57.8 M |
| Market Cap | $1.93 B |
| Circulating Supply | 879.91 million ICP |
| Total Supply | 1 billion ICP |
| Market Rank | #32 |
LDO price prediction
For the Lido DAO (LDO) token, DigitalCoinPrice suggests an increase to $4.33 by 2023, $7.64 by 2025, and $22.03 by 2030. Priceprediction.net, however, projects a slightly lower average of $2.75 for 2023, $6.15 for 2025, but forecasts a substantial rise to $38.68 by 2030. Both platforms agree on the upward trend for LDO, albeit at different rates.
4. Aave (AAVE)
Aave is a groundbreaking decentralized finance (DeFi) protocol that was launched in 2017. Aave has been at the forefront of the DeFi boom, enabling users to lend and borrow a wide range of cryptocurrencies directly through its platform.
Aave’s protocol is distinguished by its unique lending model. Unlike traditional platforms where loans need to be matched individually, Aave creates pooled funds that users can borrow from. This innovative approach allows for greater liquidity and flexibility in the DeFi space.
Another remarkable feature of Aave is its introduction of flash loans, which are loans that allow users to borrow without collateral, provided that the loan is returned within the same transaction.
The pioneering and democratic nature of Aave, its unique features such as pooled funds and flash loans, and its influential status in the DeFi space make it a worthy investment consideration.
AAVE Tokenomics
The AAVE token serves a dual function. First, it’s used as a governance token, allowing holders to vote on changes to the protocol. Second, it’s used for staking on the platform, where stakers earn a portion of the protocol’s earnings.
AAVE all-time price chart. Source: CoinMarketCap
| AAVE Price | $73.68 |
| Trading Volume 24h | $122.49 M |
| Market Cap | $1.06 B |
| Circulating Supply | 14.45 million AAVE |
| Total Supply | 16 million AAVE |
| Market Rank | #41 |
AAVE price prediction
For Aave (AAVE), DigitalCoinPrice predicts a price increase to $152.07 by 2023, $237.96 by 2025, and a significant rise to $752.72 by 2030. Priceprediction.net forecasts a lower price of $84.70 for 2023, a similar trend with $182.34 for 2025, but a substantial leap to $1,326.70 by 2030. The platforms highlight a similar upward trend, but with substantial differences in the degree of increase.
5. MakerDAO (MKR)
MakerDAO is one of the earliest and most successful projects in the DeFi sector, launched in 2015. It’s best known for its stablecoin, DAI, which is pegged to the U.S. dollar and over-collateralized by a variety of digital assets.
MakerDAO’s protocol stands out due to its dual-token model. DAI is used for transactions, savings, and collateral, while the MKR token is used for governance, providing holders with voting rights on changes to the protocol.
MakerDAO also innovated the concept of decentralized stablecoins. By making DAI over-collateralized and managed by a DAO, it provides a stablecoin that isn’t subject to the same centralization and trust issues as traditional stablecoins.
The innovative and autonomous nature of MakerDAO, its dual-token model, and its influence in pioneering the DeFi space highlight its potential as an investment.
MKR Tokenomics
MKR tokens also serve a unique purpose in the Maker ecosystem. If the system’s collateral is not sufficient to cover the value of all DAI, new MKR tokens are automatically sold on the open market to raise the necessary funds.
MKR all-time price chart. Source: CoinMarketCap
| MKR Price | $994.11 |
| Trading Volume 24h | $97.32 M |
| Market Cap | $972.29 M |
| Circulating Supply | 977,631.03 MKR |
| Total Supply | 977.631.03 MKR |
| Market Rank | #43 |
MKR price prediction
For MakerDAO (MKR), DigitalCoinPrice projects a price increase to $2,037 by 2023, $3,375 by 2025, and a significant rise to $10,341 by 2030. On the other hand, Priceprediction.net offers a lower estimate of $968 for 2023, but predicts a similar upward trend with $2,064 by 2025 and a substantial leap to $12,490 by 2030. While both sources anticipate positive growth for MKR, there are notable differences in the magnitude of the projected price increase.
6. Arbitrum (ARB)
Arbitrum is a next-generation Layer 2 solution for Ethereum, launched in 2020 by Offchain Labs. The project aims to improve Ethereum’s scalability and efficiency by moving much of the computation and storage off the main chain while maintaining security.
Arbitrum’s unique design offers a drastic reduction in gas fees and transaction speed on the Ethereum network. This makes it attractive to developers looking to build scalable applications without migrating away from Ethereum.
Arbitrum’s key feature is its “rollup” technology, which aggregates many transactions into a single proof that is posted on the Ethereum mainnet. This technology keeps the security guarantees of Ethereum while greatly improving scalability.
Arbitrum’s ambitious goal to significantly improve Ethereum’s scalability, its innovative rollup technology, and its increasing adoption make it a compelling investment prospect.
ARB Tokenomics
The ARB token plays a key role in the Arbitrum ecosystem, being used for staking and paying for computation on the network. It is also planned to be used for governance in the future.
ARB all-time price chart. Source: CoinMarketCap
| ARB Price | $1.17 |
| Trading Volume 24h | $200.23 M |
| Market Cap | $1.49 B |
| Circulating Supply | 1.27 billion ARB |
| Total Supply | 10 billion ARB |
| Market Rank | #36 |
ARB price prediction
For Arbitrum (ARB), DigitalCoinPrice forecasts a rise to $2.50 by 2023, $4.10 by 2025, and $11.94 by 2030. Conversely, Priceprediction.net provides a lower estimate of $1.35 for 2023, $2.80 for 2025, and a more significant jump to $19.03 by 2030. While both predictions suggest a positive trajectory for ARB, the exact magnitude of the price increase differs between the two sources.
7. BitDAO (BIT)
BitDAO is a relatively new player in the decentralized autonomous organizations (DAOs) arena, having launched in 2021. However, it’s backed by substantial resources, with substantial funding coming from Bybit, one of the world’s leading cryptocurrency exchanges.
BitDAO’s main goal is to promote and push forward the growth and development of the DeFi ecosystem. The DAO plans to achieve this through strategic partnerships, grants, and liquidity incentives to projects that align with BitDAO’s mission.
BitDAO’s significant backing, its robust vision for DeFi, and its focus on community-led growth make it an interesting investment prospect.
BIT Tokenomics
The BIT token is the native utility and governance token of BitDAO. Token holders can participate in governance decisions such as approving treasury expenditures, new partnerships, or modifications to the DAO’s structure.
BIT all-time price chart. Source: CoinMarketCap
| BIT Price | $0.4959 |
| Trading Volume 24h | $26.73 M |
| Market Cap | $914.42 M |
| Circulating Supply | 1.84 billion BIT |
| Total Supply | 10 billion BIT |
| Market Rank | #47 |
BIT price prediction
For BitDAO (BIT), DigitalCoinPrice predicts a rise to $1.02 by 2023, $1.68 by 2025, and $4.98 by 2030. In contrast, Priceprediction.net estimates a lower average price of $0.51 for 2023, $1.08 for 2025, but predicts a more substantial increase to $7.29 by 2030. Both projections indicate a positive trend for BIT, but there is variation in the magnitude of the expected price growth.
8. Dash (DASH)
Dash, originally launched as XCoin in 2014, is a well-established DAO and digital currency, known for its speed and privacy features. Dash introduced a new type of decentralized governance and budgeting system, where proposals are voted on by master nodes.
Dash is distinguished by its ‘PrivateSend’ feature, which offers the option for transactions to be made privately by mixing. Its ‘InstantSend’ feature allows for near-instant transactions, something quite unique in the space.
Dash’s emphasis on privacy and speed, its innovative features, and its well-established status in the cryptocurrency market place it as a noteworthy investment.
DASH Tokenomics
The DASH token is used in transactions, as well as for governance. The network’s master nodes, which require a collateral of 1,000 DASH, can vote on proposals that come with implications for the Dash network.
DASH all-time price chart. Source: CoinMarketCap
| DASH Price | $37.70 |
| Trading Volume 24h | $70.89 M |
| Market Cap | $428.24 M |
| Circulating Supply | 11.35 million DASH |
| Total Supply | 11.35 million DASH |
| Market Rank | #92 |
DASH price prediction
For Dash (DASH), DigitalCoinPrice predicts a price increase to $79.98 by 2023, $129.43 by 2025, and $384.22 by 2030. On the other hand, Priceprediction.net provides a lower estimate of $46.96 for 2023, $99.12 for 2025, but anticipates a substantial rise to $641.82 by 2030. While both sources forecast an upward trend for DASH, there are notable differences in the magnitude of the projected price increases.
9. Decred (DCR)
Decred, which launched in 2016, aims to create a balance of power between miners and token holders to create a more robust currency. It achieves this through a hybrid proof-of-work (PoW) and proof-of-stake (PoS) consensus mechanism, which is quite unique in the space.
Decred’s standout feature is its governance model, which aims for a more decentralized and democratic process. All holders of the DCR token can vote on changes to the protocol, including consensus rule changes and treasury spending.
Decred’s emphasis on equitable governance, its hybrid consensus mechanism, and its drive to continuously evolve make it a viable investment prospect.
DCR Tokenomics
The DCR token also serves a dual function as both the governance token and the native cryptocurrency of the Decred network, used for transactions and staking.
DCR all-time price chart. Source: CoinMarketCap
| DCR Price | $16.73 |
| Trading Volume 24h | $2.23 M |
| Market Cap | $256.25 M |
| Circulating Supply | 15.3 million DCR |
| Total Supply | 15.3 million DCR |
| Market Rank | #121 |
DCR price prediction
For Decred (DCR), DigitalCoinPrice predicts a rise to $32.78 by 2023, $55.97 by 2025, and $171.10 by 2030. Conversely, Priceprediction.net estimates a lower average of $19.13 for 2023, $41.59 for 2025, but anticipates a more substantial increase to $274.59 by 2030. While both projections indicate a positive trend for DCR, there are notable differences in the magnitude of the projected price increases.
10. Balancer (BAL)
Balancer, launched in 2020, is a revolutionary automated portfolio manager and liquidity provider. It allows users to create liquidity pools with up to 8 tokens, each with its own weight, unlike most platforms that require a 50-50 split.
Balancer’s standout feature is its flexibility in creating pools, which can be customized regarding token ratios, trading fees, and even the ability to include asset management strategies into the pools.
The unique approach to liquidity provision, combined with the versatile use case of the BAL token and its role in shaping the DeFi space, make Balancer a worthy investment consideration.
BAL Tokenomics
The BAL token serves multiple purposes within the Balancer ecosystem. It’s not only a governance token but also a way to earn rewards. The more BAL tokens a user stakes, the more they earn from swap fees and BAL distributions.
BAL all-time price chart. Source: CoinMarketCap
| BAL Price | $4.943 |
| Trading Volume 24h | $4.089 M |
| Market Cap | $250.844 M |
| Circulating Supply | 50.682 million BAL |
| Total Supply | 57.862 million BAL |
| Market Rank | #123 |
BAL price prediction
For Balancer (BAL), DigitalCoinPrice predicts a price increase to $9.29 by 2023, $16.71 by 2025, and $50.84 by 2030. Conversely, Priceprediction.net offers a lower estimate of $5.94 for 2023, $12.18 for 2025, but anticipates a more substantial rise to $86.10 by 2030. While both projections suggest a positive trend for BAL, there are notable differences in the magnitude of the projected price increases.
How to Invest in DAO Tokens?
Investing in DAO tokens is a crucial step towards participating in the rapidly expanding world of decentralized finance. However, the process might seem daunting for beginners. That is why at Guardarian we strive to make buying crypto as streamlined, secure and intuitive as possible.
Guardarian is an exchange platform that allows you to buy and sell a wide array of tokens, including all the DAO tokens listed above. With a selection of over 400 tokens, we make it easy to invest in your chosen DAOs instantly, without registration. We offer the best rates possible, making it cost-effective for investors, and support all major payment methods.
How to buy DAO tokens instantly with Guardarian
Follow these five simple steps to get your DAO tokens in just a few minutes:
- Go to www.guardarian.com and choose the token you want to buy from the dropdown.
- Choose your payment currency and the amount required, then click “Buy”.
- Enter your crypto wallet address and select your preferred payment method.
- Complete our fast & intuitive checkout process.
- Check your wallet – your assets will be there in just minutes.
With Guardarian, investing in DAO tokens becomes as simple as buying any other thing online, with the added advantage of lower fees and seamless transactions. Happy investing!
Conclusion
Decentralized Autonomous Organizations (DAOs) are transforming the way we think about financial systems and governance. The projects highlighted in this article represent some of the most promising DAOs to consider for investment in 2023, each with its unique innovations and contributions to the blockchain ecosystem.
Remember, before diving into any investment, it’s important to thoroughly research the project and understand its tokenomics and governance structure. Cryptocurrency investing involves risk, and DAOs, while promising, are no different.
When you’re ready to start your investment journey into DAOs, Guardarian is an excellent place to do so. We simplify the process, offer competitive rates, and support a multitude of tokens. Most importantly, we enable you to buy DAO tokens instantly, making it easier for you to be part of the new wave of decentralization.
So, visit Guardarian today for the best deals on DAO tokens, and step into the future of finance and governance.
