{"id":266333,"date":"2021-06-04T06:43:17","date_gmt":"2021-06-04T03:43:17","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/deepdao-secures-3m-for-expansion-even-as-dao-treasuries-halve-in-one-month\/"},"modified":"2021-06-04T06:43:17","modified_gmt":"2021-06-04T03:43:17","slug":"deepdao-secures-3m-for-expansion-even-as-dao-treasuries-halve-in-one-month","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/deepdao-secures-3m-for-expansion-even-as-dao-treasuries-halve-in-one-month\/","title":{"rendered":"# DeepDAO secures $3M for expansion even as DAO treasuries halve in one month"},"content":{"rendered":"

“# DeepDAO secures $3M for expansion even as DAO treasuries halve in one month <\/strong>”
\n<\/p>\n

DeepDAO, a website aggregating data on decentralized autonomous organizations (DAOs), has raised $3 million for future expansion in a round led by venture capital firms Hypersphere and DFG.<\/p>\n

An announcement asserts the \u201coverwhelming demand for DeepDAO\u2019s seed round shows strong interest in data products for the DAO space and the belief the DAO ecosystem will grow.\u201d <\/p>\n

DeepDAO v1 currently provides data for more than 100 DAOs, aggregating data on organizations’ treasuries, membership, and governance.<\/p>\n

According to the site, DAOs currently represent more than 66,000 members and $587 million in assets under management (AUM) \u2014 although the AUM has fallen 46% from more than $1 billion in the past month amid the recent crypto market downtrend. DAO treasuries are still up more than 300% since early November however.<\/p>\n

Speaking to Cointelegraph, founding advisor to DeepDAO and Bitfwd Capital chairman, Daniel Bar stated the team plans to expand data coverage, integrate DAOs from additional networks, and launch new governance tools using the funds.<\/p>\n

Bar also noted the platform will offer an enhanced user experience, including social<\/a> feeds and forums and added:<\/p>\n

\u201cThe decentralized governance space is developing at a breakneck speed, DeepDAO is serving […] the DAO space by providing a one stop shop where governance can be tracked.\u201d<\/p><\/blockquote>\n

Despite this rapid growth, Bar notes a number of challenges facing the nascent sector, including identity, standardization, and a steep learning curve.<\/p>\n

\u201cMost people still think of DAOs as a nebulous concept, the \u2018Aha moment\u2019 that DAOs are Web3\u2019s social network didn\u2019t click to most people yet. But it\u2019s getting closer,\u201d he added.<\/p>\n

Hypersphere partner, Jack Platts, described the DeepDAO platform as making decentralized governance \u201ceasily accessible to everyone,\u201d stating:<\/p>\n

\u201cDecentralized protocols are governed by their users, but to unlock the transparency and inclusivity we need high quality tools.\u201d<\/p><\/blockquote>\n