A key role of Decentralized Autonomous Organizations (or DAOs) is to make funds, resources and people in these online communities as transparent as possible, but finding, researching and connecting with these diverse groups can be difficult for everyone, least for the more tech-savvy users.
On Thursday (27), the DAO analysis website DeepDAO launched a new search engine that makes it easy to find answers to the most common DAO-related questions.
Recently, DAOs have become a popular way of organizing groups online, such as for a new startup or non-fungible token project (or NFTs), usually governed using a cryptocurrency or token.
Launched in February 2020, Tel Aviv-based DeepDAO is a data aggregation and analytics website for DAOs, currently listing over 4.1 thousand organizations. DeepDAO claims that it ranks DAOs using several key metrics, such as membership and assets under management.
Eyal Withcowich, founder and CEO of DeepDAO, told Decrypt that the idea for the project came while he was a member of the Genesis Alpha DAO.
He said he wanted to see the internal governance mechanisms of a DAO, key voters, who creates the bulk of the proposals, who is voting and for whom, and who is winning or losing.
But the team at Genesis Alpha DAO didn’t have time to create an explorer, he said, so he decided to do it himself.
“People loved it, so I started adding DAOs and platforms and here we are, with thousands of DAOs and many more to come,” he said.
Ranking 4,100 organizations with a combined $8.2 billion treasury under management, according to DeepDAO, is time consuming.
DeepDAO claims that this new search engine feature allows users to skip the long search part and quickly find the information they want. For example, the largest monetary holders in a DAO, user governance profiles and interactions.
DeepDAO appears to be the first platform to include this amount of information in one place.
While websites such as DeFi Pulse, DAOlist, and DeFi Prime may contain financial information for different projects and their tokens, DeepDAO goes further by providing the wallet addresses and, in some cases, names of DAO members, as well as links to other DAOs that have the same members.
Eithcowich told the Decrypt that DeepDAO gathers its information from a variety of sources, including directly from the DAO blockchain, using application programming interfaces (or APIs) to obtain data while the DeepDAO team curates the gathered information about treasures and governance systems.
Eithcowich said the biggest challenge is to model and normalize all this data and bring it into a single dashboard.
Initially, DeepDAO had been funded through a $3 million seed round led by venture capital firm Hypersphere Ventures.
While the project is not yet profitable, it plans to offer premium DAO services in the future, such as data explorers and access to its API.
*Translated and edited by Daniela Pereira do Nascimento with permission from Decrypt.co.