10 best Decentralized Autonomous Organization (DAO) tokens to explore

Highlights Decentralized crypto organizations have been rising on the back of strict financial regulations. Most decentralized autonomous organization (DAO) tokens have yielded nearly three-digit growth in the last one year. Investment in DAO is said to be democratized and transparent. Thus, there are fewer incidents of manipulation. A decentralized autonomous organization (DAO) is a fully democratized corporation without a chief executive officer or a chief financial offer. DAOs execute all their transactions publicly. These blockchain-powered platforms include decentralized finance (DeFi) projects, crypto trading platforms, and fundraising projects. What is Decentralized Autonomous Organization? Top 10 DAO tokens Crypto investors can interact with DAO using its native tokens. Every decentralized enterprise has its unique code, which works over the blockchain network. Here are some DAO tokens worth exploring. UniSwap (UNI) The decentralized crypto exchange enables anonymous users to invest or trade in virtual tokens on its platform. UNI is the native token of UniSwap, which ranks in the 10th position in the crypto industry. UNI was trading at US$ 29.59 apiece on August 13, with 587 million tokens in circulation. Its market cap stood at US$ 17.56 billion. The token had gained as much as 645 per cent year-to-date (YTD) and the tier one altcoin registered a 20 per cent surge in the week ending August 13. Maker (MKR) MKR is the native token of Maker’s decentralized protocol that allows users to trade in DAI stablecoin. The Ethereum-based crypto token was moving at US$ 3,624 apiece on August 13, with a one-day surge of nearly 10 per cent. The 38th-ranked token was up 403 per cent in the last one year, with a market cap of US$ 3.27 billion. Its circulating supply was 991,328 tokens. At the time of writing this, MKR had appreciated by 44 per cent in the past 30 days. Dash (DASH) Dash is a decentralized digital payment project, which provides faster transactions than Bitcoin. The DAO has DASH as its utility token. DASH's price was at US$ 187.4 apiece on August 13, with a market cap of US$ 1.93 billion. About 10.27 million of its tokens were in circulation. It had increased by 17 per cent in the past one week at this point and surged by almost 80 per cent year-to-date (YTD), led by higher demand for anonymous transactions. Copyright © 2021 Kalkine Media Compound (COMP) The DeFi project facilitates crypto lending solutions to its users who can earn from their crypto inventories. COMP is the utility token of Compound. It was marching at US$ 473 apiece on August 13, with a market cap of US$ 2.6 billion. COMP had swelled around four per cent in one week, and it recorded a one-year growth of 118 per cent. The 49th-ranked token had 5.4 million tokens in circulation. However, COMP was down 48 per cent against its lifetime high of US$ 910 apiece (recorded on May 12). SushiSwap (SUSHI) SushiSwap offers its users a DeFi token pair swapping service. It is also known as an automated market maker. Its native crypto is SUSHI, which has a maximum supply of 250 million tokens. The DAO token was moving at 12.1 apiece, with an 11 per cent jump, on August 13. The 68th-ranked virtual coin was up by 70 per cent in the last 30 days and its one-week return stood at 26 per cent. There were 193 million SUSHI tokens in circulation at the time of writing this. 0x (ZRX) 0x is an autonomous crypto exchange that works through an open-source smart contract. It offers its users diverse cryptocurrencies to invest in. Its utility token is ZRX token, which is an ERC-20 coin. 0x charges in ZRX token for initial coin listings. It was moving at US$ 1.01 apiece on August 13, with a one-day rise of six per cent. The 98th-ranked cryptocurrency had over 102 million coins in circulation. The token delivered 117 per cent in the past one year, while its 30-day return stood at 41.4 per cent. However, it was down by 60 per cent against its all-time high of US$ 2.5 apiece (January 13, 2018). Curve DAO Token (CRV) Curve is a decentralized stablecoin trading platform, and its native token is CRV. The decentralized network’s tokens are available to trade through mainstream crypto exchanges like Binance and Huobi Global. CRV was up nine per cent to US$ 2.19 apiece on August 13, with a market cap of around US$ 834 million. It recorded an increase of 35 per cent in the last one month. However, the token tumbled as much as 96 per cent against its lifetime high of US$ 54 apiece (August 14, 2020). Copyright © 2021 Kalkine Media Synthetix Network Token (SNX) Synthetix enables its users to exchange ERC-20 tokens through its decentralized trading project. Its utility token, SNX, was up 16 per cent on August 13. Its market cap stood at US$ 2 billion, with a total circulation of 169 million SNX tokens. It had risen by 20 per cent in the last two weeks, while its one-year return was 111 per cent. The 76th-ranked crypto was trading in a bullish zone. Decred (DCR) The blockchain-based cryptocurrency project offers an open-source protocol. Its native token is DCR and it has a hybrid consensus, where its users interact using DCR coins. Decred’s utility token was up eight per cent to US$ 169.15 apiece on August 13. The 53rd-ranked token skyrocketed by 969 per cent in one year, with a market cap of US$ 2.23 billion. It was up 37 per cent in the past 30 days, with a circulating supply of 13.21 million tokens. However, DCR was down by 31 per cent against its all-time high of U$ 247 apiece (April 17, 2021). Stratis (STRAX) The smart contract service provider operates through proof-of-work and proof-of-stake models. The DAO’s crypto token is STRAX. The decentralized coin was at US$ 2.17 apiece on August 13, with a market cap of US$ 289 million. The 159th-ranked cryptocurrency had amplified by 25 per cent in the last 30 days. It was up by 239 per cent in the past one year, with a circulating supply of 100 million tokens. Bottom line: Trading in DAO tokens is anonymous, and investors can also hold these tokens to gain organizational voting rights.