Top 5 Crypto DAO Projects to Look Out for in 2023

Uniswap (UNI)

Uniswap is a decentralized exchange (DEX) where users can trade crypto assets with- No intermediaries and no complex order books. According to Defillama, UNI is the largest DEX protocol with Total value locked (TVL) about $5.45 billion. It was launched on the Ethereum network in 2018 and has revolutionized crypto trading through its seamless and user-friendly platform. One of key features of Uniswap protocol is its automated market maker (AMM) model, that allows anyone to participate as a liquidity provider, contribute to liquidity pools and earn a share of platform fees. It initially enabled swapping of ERC-20 based tokens and later on, expanded to Binance Smart Chain supporting BEP-20 tokens as well.

Latest News

Latestly, Uniswap has announced its version 4- a potential upgrade that can resolve prevailing inefficacy of the DeFi ecosystem. This upgrade introduces various features such as a single smart contract for all pools (singleton architecture), customizable AMM models, fee tiers, and much more. 

So Here’s @Uniswap v4: The AMM that Can Do It All

Also, I summarized the comparison b/w Uniswap v2, v3 & v4 for easy understanding.

Features of Uniswap v4:

1. Customizable pools through hooks: Allows developers to create custom pools with arbitrary code hooks, which can be… pic.twitter.com/k9zrPi3TNn

— Arhat (@0xArhat) June 13, 2023

UNI Price Prediction 

• UNI price today is trading at $4.95, with a 24-hour trading volume of $55 million. The UNI price has gained around 2.52% during the last 24 hours with its market cap of standing at $3 billion as on June 30, 2023.
• UNI price has been in a downtrend since the past few months, it tried to break the trend but has failed to do so.
• However, if it bounces back there is a possibility that the UNI price might go above $5.

Read On: Top Cryptos with Lowest Transaction Fees

Lido Finance (LDO) 

Lido launched in 2020, has emerged as one of the popular liquid staking solutions for Proof of Stake based cryptos and is currently the largest DeFi protocol with TVL around $13.83 billion. It enables individuals to stake any sum of crypto assets in the protocol and retrieve their tokenized version, which can be utilized across DeFi protocols to earn passive income. That means for every ETH you stake in Lido, you will receive a liquid token stETH in 1:1 ratio. Lido comes with support for multiple PoS blockchain including Ethereum, Polygon, Solana, Polkadot and Kasuma. Its protocol is governed by a transparent decentralized community, Lido DAO that makes majority decisions on the protocol working.

LDO Price Prediction

• LDO price today is trading at $1.88, with a 24-hour trading volume of $28 million. The LDO price has gained around 2.8% during the last 24 hours with its market cap of standing at $2 billion as on June 30, 2023.
• LDO price has been trading near its resistance level at $1.94 and its recent support is residing at $1.63.
• The current market sentiment looks bullish and if LDO price rises above its resistance it might make new highs.

Additional Read: Top Liquidity Staking Cryptos

Aave 

Aave is a decentralized protocol for lending and borrowing without any centralized authority involved. It was launched in 2017 by Stani Kulechov, providing an efficient platform where users can lend and borrow a variety of crypto. It offers various features that sets it apart, including flash loans, variable interest rates, multichain support, interoperability and more.

At the core of Aave lies the concept of “money markets.” These markets act as liquidity pools, allowing users to deposit their crypto assets and earn interest while enabling others to borrow those assets with their collateral. Users can easily interact with various money markets, monitor their deposits and borrowings, and explore a wide range of supported assets through its platform.

AAVE token holders are one to govern the platform, they create and vote on proposals for the platform’s treasury and updates.

Latest News

Aave has added a single transaction feature for stkAAVE token that enables users to redeem their staked AAVE tokens and restake them again in one transaction saving on fees and time.

New stkAAVE upgrade: Redeem and restake AAVE rewards in a single transaction. Save on fees, time, and avoid hassle. Efficiency and user experience enhanced. pic.twitter.com/elxDn0RJnb

— Aave (@AaveAave) June 20, 2023

AAVE Price Prediction 

• AAVE price today is trading at $55.75, with a 24-hour trading volume of $28 million. The AAVE price has gained around 2.8% during the last 24 hours with its market cap of standing at $2 billion as on June 30, 2023.
• The AAVE price has been in a downtrend but it has recovered around 26% from its recent low at $49.
• RSI-14 level also indicates a positive market sentiment so there is a possibility of AAVE reaching $60 soon.

Read More: Top DeFi Projects 2023

Maker DAO

Next in top DAO projects we have, Maker DAO- a decentralized organization built on top of Ethereum blockchain. It allows users to borrow and generate stablecoin DAI, by depositing collateral assets into a smart contract known as a Collateralized Debt Position (CDP). 

The reasons behind the popularity of MakerDAO is its Maker protocol and governance model. Maker protocol ensures stability and security of the system by maintaining sufficient collateralization ratio and liquidates CDP if ratio falls below threshold. It opens new opportunities for users and developers to build upon its infrastructure, utilize and intergate Dai with various DeFi protocols and applications. 

The platform is governed by MKR token holders who collectively figure the direction of MakerDAO and make decisions about the protocol’s parameters, such as platform fees, interest rates, collateral types, etc.

Latest News

MakerDAO has increased its stablecoin DAI saving rates(DSR) from 1% to 3.49%, meaning more yield for holders. DSR is a special smart contract module within Maker protocol that provides DAI token holders a share of revenue generated by Maker platform. As of June 2023, Maker platform has over 166 million tokens locked in DSR.

Effective June 19th, at 14:00 UTC. major changes are set for Stability Fees and the Dai Savings Rate (DSR) on @MakerDAO

In our blog you can find all the information and suggested steps if you own an affected vault or want to deposit in the DSR.https://t.co/kOmdYyDLeT
Read on
👇

— Summer.fi ☀ (formerly Oasis.app) (@summerfinance_) June 19, 2023

MKR Price Prediction 

• MKR price today is trading at $687.78, with a 24-hour trading volume of $28 million. The MKR price has gained around 1.59% during the last 24 hours with its market cap at $672 million as on June 30, 2023.
• MRK price has been in a downtrend for the past few months with its strong support level at $657.5
• Tracking back the price movements there is a possibility of MKR price reaching $750 in the upcoming times.

Curve DAO

Curve DAO, another leading decentralized governance model, operates as an decentralized exchange and automated market maker (AMM) that focuses specifically on stablecoin pairs. Curve DAO has been popular among users thanks to its liquidity management, low-slippage and seamless trading platform. 

The platform’s curve algorithm provides users with stable prices and sufficient liquidity for seamless swapping of stablecoins, ERC-20 tokens and other cryptos. Users can deposit their stablecoins into Curve DAO’s liquidity pools and earn yields in the form of trading fees and rewards. Curve determines the yield for liquidity pools based on supply and demand of tokens.

Latest News

Curve finance has introduced a new trading user interface in its platform with graph features. The new interface presents data feeds from selected Curve pools instead of centralized exchanges. This might eliminate price discrepancies, latency issues and other inefficiencies providing users with better trading experience.

Loving graphs? Now in Curve UI. The data is taken from the Curve pool you select, not from centralized exchanges!

As a bonus: you can also see the LP token price pic.twitter.com/4JEEtB7fGW

— Curve Finance (@CurveFinance) June 21, 2023

CRV Price Prediction

• CRV price today is trading at $0.7096, with a 24-hour trading volume of $46 million. The CRV price has gained around 7.47% during the last 24 hours with its market cap of standing at $615 million as on June 30, 2023.
• CRV price has recently formed a death crossover of 200MA and 50MA, but it has rebounded from support at $0.56
• The ADX direction suggests a short term bear market, but still there is a possibility of CRV price touching 0.9 in the upcoming times.

Conclusion

A DAO is a crucial component of a protocol’s decentralized development. They foster a sense of community, aligning users interests and promoting active engagement. While these top DAO projects showcase immense potential investors are advised to perform thorough research and understand the associated risks. As each DAO project has its shortcomings, including smart contract vulnerabilities, market volatility, and others, which should be carefully evaluated.

How to invest in Top DAO Projects 2023

Investing in top DAO cryptos is made easy, secure and safe with CoinDCX app. All you have to do is download the CoinDCX app from playstore and follow below steps to start you crypto investing journey:

• Once you have downloaded the app, Enter your details to register
• Complete KYC and verify mobile & email
• After Verification, add funds to your wallet
• Buy any UNI, LDO, AAVE, MKR or CRV tokens.