DAO treasuries still down 40% after October’s DeFi downtrend

Decentralized autonomous organizations, or DAOs, were heavily hit by October’s decentralized finance downtrend, with the total value of assets managed by DAOs crashing by 40% from 30 days ago.

According to data from DeepDAO, the combined assets under management controlled by DAOs was more than $290 million as of early October. By the second week of November, the AUM of DAOs had fallen more than 50% to tag $140 million.

As of this writing, DAOs currently manage $172.7 million in assets, with the total having increased by20% alongside the partial recovery posted by many top DeFi tokens over the past week.

Despite DAO treasuries shrinking during October, sector-wide membership increased by 1,100 (around 10%), with 11 DAOs now boasting more than 100 members each.

However, a DAO’s total membership is not necessarily a good indicator of how robust an organization’s governance may be.

Bancor is currently the largest DAO, with 4,156 members. However, the organization is yet to vote on any proposal. Similarly, pNetwork is the third-largest, with 1,243, despite conducting zero votes so far.

PieDAO is the second-largest DAO by members, with 2,145, despite only six voters participating in its sole governance proposal. PieDAO is also the largest DAO by fiat value, controlling more than $51 million worth of assets.

By contrast, dxDAO shows well-rounded strength, ranking fourth by fiat value and membership, in addition to hosting the third-largest number of governance proposals and the second-most voters of 87 decentralized organizations.

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Source: https://cointelegraph.com/news/dao-treasuries-still-down-40-after-october-s-defi-downtrend