CNBC Announced: Here Are The DAO Coins That Get Attention!


As we enter the New Year, several crypto investors and traders hope that they will overcome the challenges associated with DAO coins and provide some sort of revival.

LidoDAO is the first among the DAO coins.

Launched in December 2020, the Lido protocol offers staking services for Solana, Polygon, Polkadot and other Proof-of-Stake (PoS) blockchains. It also operates the largest ETH staking pool with over 4.8 million Ether locked on the platform. Lido is also one of the most preferred for investors in 2023.

With the Ethereum update, Lido will allow users to withdraw their staked ETH and any staking rewards accrued over time. Considering that some users have kept their ETH locked on the Ethereum network for years, this is a highly anticipated update.

The Shanghai Update is expected to prompt more users to stake ETH. This is because until now staking ETH meant locking it indefinitely. However, the Shanghai Update will change that and make staking more convenient. This is good news for Lido as it can lead to a spike in new users and an increase in revenue.

This is why the anticipation around the Shanghai Update has led to the recovery of governance tokens of top liquid staking protocols, and Lido is leading the pack. Management token LDO has risen 35 percent over the past 7 days. This momentum also saw Lido briefly replace Maker as the leading DeFi protocol in terms of total value locked before returning the position on January 2.

Another project to watch out for in 2023 is MakerDAO

Maker is a decentralized autonomous organization (DAO) built on Ethereum that provides crypto lending and lending solutions. It is also the leading DeFi protocol in terms of total locked value (TVL) currently held over $6.2 billion in smart contracts. Going into 2023, the protocol looks set to release earnings.

First, despite a turbulent 2022, Santiment data shows that Maker’s trading volume has grown 175 percent in the last 7 days, from $14 million to $38.6 million. Also, for the past few months, the platform has been using its capital to invest in ETFs and short-term bonds. On January 4, the protocol announced that these investments resulted in profits of over $2.8 million.

Data from Dune Analytics also shows that overall revenue generated by the protocol has grown steadily over the past three months. The real-world assets (RWAs) mentioned were a large part of the revenue, while Maker’s Ethereum and stablecoin investments were also making good returns.

The project at the end of the list is BitDAO.

BitDAO is a decentralized autonomous organization (DAO) focused on building and growing the decentralized finance (DeFi) ecosystem. It is built on the Ethereum blockchain. It uses smart contracts to facilitate a range of financial services and products, including lending, borrowing, staking, and trading.

BitDAO is currently among the best DAOs on the market and has tremendous growth potential. The platform recently announced a $100 million buyback attempt for its native token BIT. With this initiative, which began on January 1, 2023, the protocol will repurchase $2 million worth of BIT for 50 consecutive days. As we mentioned, ICT has increased by approximately 23 percent in the last 7 days. Transaction volume has also increased 13% in the last 24 hours, surpassing $20 million at the time of this writing. Considering that the platform’s buyback is still in its early days, the project is expected to see continued gains in the first half of 2023.


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