As decentralized finance further enmeshes itself into the mainstream, the principles it represents also develop in strength. DAOs (Decentralized Autonomous Organizations) are community-led entities lacking central authority representing true democracy, with every proposal subject to a vote.
With the current trajectory of the crypto space, it appears that 2023 is going to be a massive year for DAOs, specifically, Uniglo (GLO), Maker (MKR), Lido DAO (LDO) and Aave (AAVE).
Uniglo (GLO)
Uniglo is a social currency that delivers a viable long-term store of value by leveraging asset ownership and scarcity principles. The Uniglo Vault will hold a collection of physical, NFT, and digital assets. These assets give GLO a value-backed floor price. And being a DAO, holders of GLO will vote on purchases and sales relating to the Vault.
Regarding scarcity principles, the whitepaper outlines a revolutionary burning strategy titled the Ultra Burn mechanic. It sees 2% of every transaction burnt, and this drastic reduction in total supply makes GLO DeFi’s first hyper-deflationary token.
Uniglo has built itself to deliver value whilst allowing investors to direct the future direction of the protocol, and this is a DAO ready to explode in value.
Maker (MKR)
Maker DAO governs the Maker Protocol responsible for minting DAI, the fourth largest stablecoin by market cap and the largest decentralized stablecoin. Investors collateralise crypto and then can mint DAI. MKR holders govern this protocol; they can influence the savings rate, the accepted collateral assets, and even the risk parameters.
As DAI’s market cap continues to swell as more and more people globally access digital dollars, it is natural that the value of MKR will rally.
Lido DAO (LDO)
Lido solved an issue that has plagued the digital asset space for years, the inherent illiquidity of staking. Lido has devoured vast amounts of liquidity and become by far the largest Ethereum validator as investors globally exchange ETH for stETH. This allows them to gain staking rewards whilst maintaining liquidity for other DeFi purposes.
LDO is the governance token, and since Lido has introduced staking options for PolkaDot and Kusama, this token is expected to continue its tear through the rankings.
Aave (AAVE)
AAVE is both a governance token and a utility token. As well as entitling holders to cheaper interest rates for loans, it allows them to vote on proposals. The most recent proposal approved a new stablecoin, GHO, which will be minted against collateralised cryptos, whilst these collateralized assets still receive interest payments- making GHO the first example of a yield-generating stablecoin.
Closing Thoughts
The incoming bull market will be massive for DAOs, and investors who hold these governance tokens gain entry into the inner workings of the digital asset space, joining something larger than themselves, all whilst making terrific profits.
Investors should not miss the opportunity to load up on governance tokens at their current valuations.
Find Out More Here
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
Telegram: https://t.me/GloFoundation
Discord: https://discord.gg/a38KRnjQvW
Twitter: https://twitter.com/GloFoundation1
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