DAOs have been a use case in the blockchain space for a while. However, when you build a crypto portfolio of top DAO tokens and evaluate their historical performance using a crypto calculator, the outcomes look underwhelming. Could DAOs face legal challenges similar to privacy coins and struggle with limited adoption? Even in this BTC bull run, investor interest in DAOs seems to be low.
Wow, you made me think of Olympus Dao. I remember investing a little during COVID, tempted by the high APY. I was down fast and had to cash out. Thank goodness, it just kept dropping. I spent a lot trying to get my money in and out too. It was a big hassle.
Some of these are scams, while others are real. It’s like everything else.
(By the way, our MOON has been a DAO too.)
I think the Decred Treasury is what a real DAO should be. It’s truly decentralized, and spending is controlled by code that gets voted on. The proposals come from people whose votes count based on how much they have at stake.
If you want to see real products being delivered and tested, check out bigger DAOs like Maker.
DAOs are a joke. You can’t really control human behavior, even if they claim to put decisions behind a smart contract. Developers just change the contract whenever they want.
These will go down as a failed experiment from the 2018-2022 era and probably won’t be heard of again.
@Azalea
What are the alternatives to DAOs? Traditional shares are too hard to issue and manage.
coinbasedgod said:
@Azalea
What are the alternatives to DAOs? Traditional shares are too hard to issue and manage.
Yet they’ve been working fine for hundreds of years.
@Azalea
None of those DAOs were really autonomous, since the code could be changed without just voting.
But there are real ones out there - ICP is an actual functioning DAO, and any project built on the SNS on ICP is autonomous too.
You can’t change the smart contract without a vote. It’s literally impossible because the protocol controls it. True DAOs are just starting, like OpenChat, which is a fully on-chain chat app with proposals almost every day for changes.
Looks like more fake marketing from Botsfolio. Shouldn’t they have to pay moons or something to advertise here?