DAOs are working towards destroying their traditional governance structure, said Nischal Shetty in a tweet today. Over the last year, they earned over $9.2B in total treasury. DAOs are breaking traditional governance models In the past year DAOs have accumulated $9.2 billion+ in total treasury58k decisions were made on DAOs with 3.5M votes. There are currently 1.7M governance token holders A great sign for #Web3 where consensus is key in communities — Nischal (Shardeum) ⚡️ (@NischalShetty) May 30, 2022 DAOs Governance Structure & Nischal Shetty According to Nischal Shetty, DAOs are shattering the traditional governance structures. They have amassed more than $9.2B in total treasury over the last year. With 3.5 Million votes, people made 58k choices on DAOs. There are 1.7 Million people who own governance tokens. That’s a positive indicator for Web3, where community agreement is crucial. There will always be a structure of some sort in a conventional business. Executives and senior management make up most organizations’ core structure of authority. These top members handle any recommended adjustments. It’s tough to get into the top ranks in most traditional companies once you’ve achieved it. It’s usual for the same directors and executives to stay in power for decades. There’s no opportunity for lower-level employees to have a real say in the firm’s running. By lowering the hierarchy, DAOs aim to undermine the old model. It dep...
