Decentralized Autonomous Organization (DAO) treasuries are growing rapidly and have just passed a major milestone, according to DeepDAO.
According to data from the DAO data platform, on March 31, the total assets of all decentralized autonomous organizations reached a record $25.1 billion.
Treasury is the total amount of assets that the DAO can use at its discretion. Excludes assets managed but not owned by the DAO, such as investment accounts and reward fees.
About $22 billion of that total is liquid with about $3.5 billion set aside for takeovers, according to DeepDAO.
Interestingly, assets in DAO vaults have more than doubled since the start of 2023, which is no mean feat for a bear market.
Furthermore, the $25.1 billion figure represents about 40% of the total value locked for all of DeFi, as reported by DeFillama. That currently stands at $61.7 billion after a 39% increase since the beginning of this year.
DeepDAO is a discovery and analysis engine DAO ecosystem which reports and analyzes financial and management data for the fast-growing sector. DeepDAO reports that there are 12,108 DAOs, of which 2,353 are analyzed by the platform.
Related: The DAO gains legal recognition in the US following the passage of the DAO Act in Utah
A DeepDAO representative told Cointelegraph that the big movers are Layer 2 DAOs, with infrastructure now the leading category overtaking DeFi.
“Until recently, Uniswap and BitDao were the biggest at over $2 billion each, and now with the addition of Optimism, Arbitrum, Polygon we have a whole pack of really big DAOs,” said DeepDAO’s Daniel Bar.
the total value in all DAO vaults exceeded $25 billion for the first time ever pic.twitter.com/VcymWJOkOy
— Jacquelyn Melinek (@jacqmelinek) March 30, 2023
Optimism Collective is the leader in treasury assets with $5.5 billion, giving it a 22% market share. Optimism is the second most popular Ethereum layer-2 solution provider after Arbitrum One L2beat.
However, Arbitrum has a slightly lower DAO treasury with $4.4 billion giving it a 17.5% stake.
The remaining DAOs that make up the top five include BitDAO, Uniswap and Polygon with treasuries of $2.6 billion, $2.5 billion and $1.5 billion respectively.
DeepDAO also reports that it is the most active DAO in the past week, Pancake has been replaced with 66 decisions. The total number of decisions made for all DAOs analyzed in the past month was 3,300, which is a decrease compared to February’s 3,700 decisions.
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