# "The Weekly DAO" Newsletter [May 3 - 9]

By [DAOBase](https://paragraph.com/@daobase) · 2024-05-09

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_Welcome to your weekly dose of DAO news! In this newsletter, we'll cover the most important changes, proposals, and developments within the DAO ecosystem. Stay up-to-DAO with the latest trends and innovations as we delve into the dynamic world of decentralized governance._

**DAO News 📰**
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### **🏛️ Arbitrum DAO seeks opportunities to invest in real-world assets**

Arbitrum DAO plans to invest 35 million ARB tokens, worth around $37 million, in liquid and stable assets, aiming to diversify its holdings. The initiative follows an open call where over twenty-four companies pitched their products, including traditional financial giants like Franklin Templeton and BlackRock, interested in tokenizing assets on the blockchain.

_Source:_ [_cryptonewsz.com_](https://www.cryptonewsz.com/arbitrum-dao-seeks-opportunities-to-invest-in-real-world-assets/)

### **🐶 K9 Finance DAO Unveils Bone Crusher Liquid Staking dApp Update for Shiba Inu Community**

Shiba Inu partner K9 Finance DAO has revealed details about its upcoming liquid staking dApp, Bone Crusher, through an exclusive product update. The update demonstrates how members of the Shiba Inu Army can interact with the application to stake and earn rewards, aligning with the project's mission to integrate DeFi capabilities within the Shiba Inu ecosystem.

_Source:_ [_thecryptobasic.com_](https://thecryptobasic.com/2024/05/08/shiba-inu-partner-unveils-exclusive-product-update/)

### **👀 MakerDAO Unveils NewStable (NST) and NewGovToken (NGT) Tokens**

MakerDAO has announced the launch of two new tokens, NewStable (NST) and NewGovToken (NGT). NST is an upgraded version of DAI aimed at broader adoption, while NGT facilitates enhanced governance participation and dynamic decision-making within the MakerDAO ecosystem. Holders of these tokens will have the flexibility to convert between them and existing Dai (DAI) and Maker (MKR) tokens

_Source:_ [_coingape.com_](https://coingape.com/makerdao-teases-plans-to-launch-two-new-tokens/)

### **💸 Gitcoin Grants 20 Concludes Successfully, Raising Over $632,000**

Gitcoin successfully concludes GG20, raising $632,000 from 35,109 donors to fund Ethereum open-source software projects. With $1.4 million in total matching funds, GG20 prioritized support for hackathon alumni, dApps, developer tools, and Web3 infrastructure, alongside community rounds.

_Source:_ [_binance.com/square_](https://www.binance.com/en/square/post/2024-05-08-gitcoin-grants-20-concludes-successfully-raising-over-632-000-7802088092570)

### **🪂 $ZERO Airdrop is LIVE**

ZeroLend's $ZERO airdrop is LIVE on Linea since May 6th, and users can convert earlyZERO and Zero Gravity Points to $ZERO Tokens. With an 18% supply allocated for community airdrops, participants can stake $ZERO for governance rewards, with a detailed vesting schedule

_Source:_ [_ZeroLend Mirror blog_](https://mirror.xyz/0xb32591b2D8b8129702A4214CE344D2F87A9250F2/NCXIwkYRYwn-cchp-MmRjloWSZqSyYXHHsiY-5Q38Fs)

**Weekly DAO Changes 📊**
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### **New DAOs State**

Over the past week, a total of 259 new DAOs were created, reflecting a 0.15% addition ratio. The majority were created through Snapshot (213), followed by Aragon (25), XDAO (7), Colony (13) and Party (1).

### **Top 3 Biggest Gainers and Losers**

Taking the lead among gainers, "UPDAO" experienced a remarkable treasury increase of $930,735.95 (101.24%). Following closely, "Ease" demonstrated substantial growth with a treasury boost of $455,444.35 (52.26%), while "AVA" Foundation secured third place with a notable gain of $159,991.38 (29.19%).

In contrast, "Umami DAO" faced the most significant setback, witnessing a considerable treasury decrease of -$1,622,675.01 (-74.33%). Additionally, "Matrix World" and Code4rena" experienced notable losses, declining by -$745,721.09 (-44.64%) and -$529,578.82 (-44.61%) respectively.

### **Governance Activity**

The past 7 days, a total of 655 new members joined the DAO ecosystem, representing a 0.01% increase in total voters. Additionally, 122 new proposals were submitted, marking a 0.03% increase in proposal activity.

### **Proposal Participation Highlights**

**DEFI DAOs**

1.  GMX DAO: "MPs Update" - 1,701 Voters
    
2.  Arbitrum DAO: "Pilot Phase: M&A for Arbitrum DAO" - 860 Voters
    
3.  Aave DAO: "\[ARFC\] Onboard ggAVAX to Aave V3 on Avalanche" - 338 Voters
    
4.  Aave DAO: "\[ARFC\] Renewal of Aave Guardian" - 2024 - 324 Voters
    
5.  Aave DAO: "\[ARFC\] LT/LTV Reductions on Aave V2 Stablecoins" - 306 Voters
    

**NFT DAOs**

1.  ApeCoin DAO: AIP-419: "Expansion of ApeChain Presence in Key Asian Events" - 261 Voters
    
2.  ENS DAO: "\[EP5.7\] Security Council" - 244 Voters
    
3.  ENS DAO: "\[5.8\] ENS Steward Vesting Proposal" - 224 Voters
    
4.  ApeCoin DAO: "AIP-417: IP Ecosystem with CLIP Powered by ApeCoin" - 191 Voters
    
5.  ApeCoin DAO: "AIP-426: Special Council- Future election requirement and role clarification" - 171 Voters
    

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**Noteworthy Proposals 💡**
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### **🦍 ApeCoin DAO to Refine Special Council Role?**

ApeCoin DAO AIP-426 introduces changes to the "Special Council's" role and election process. It suggests renaming the Special Council to "Advisory Board," setting eligibility criteria for nominees, and removing weekly reports established by AIP-305.

Voting ends on May 16, 2024.

_Full Proposal:_ [_AIP-426: Special Council- Future election requirement and role clarification_](https://daobase.ai/proposal/details/493656)

### **🔁 Return CityDAO Treasury Funds to Citizens**

CIP 212 suggests distributing CityDAO Treasury funds among citizens due to challenges in reaching agreement on spending. With key personnel leaving, the proposal aims to return funds, estimated at $320 per NFT, to citizens. A Return of Funds Task Force will be formed upon passage to develop the implementation mechanism within 30 days.

Voting ends on May 14, 2024.

_Full Proposal:_ [_CIP 212 - Return Funds to Citizens_](https://daobase.ai/proposal/details/494966)

### **📈 Compound Growth Program Renewal**

AlphaGrowth proposes a 12-month extension of the Compound Growth program after a successful trial period, aiming to expand the protocol's reach, increase TVL, and generate revenue for the Compound DAO. The program seeks 75,246 COMP for expenses, marketing, and integrations.

Voting ends on May 10, 2024.

_Full Proposal:_ [_Compound Growth Program 12-Month Term_](https://daobase.ai/proposal/details/494954)

### **🔒 Galxe DAO Transitioned to Stake-Based Voting**

Galxe DAO community voted in favor of transitioning the voting mechanism from allowing all GAL holders to vote to permitting only those who have staked GAL. This change aims to raise engagement, ensure decisions align with long-term goals, and promote informed decision-making.

Voting ended on May 04, 2024.

_Full Proposal:_ [_\[GP27\] Transitioning to Stake-Based Voting in GAL_](https://daobase.ai/proposal/details/493031)

### **🕹️ Nouns Esports Coast-to-Coast Smash Bros Gaming Events**

Nouns Esports is requesting 145,920 USDC to organize three prominent Super Smash Bros tournaments in 2024. These events, spanning Atlanta, Los Angeles, and New York City, aim to increase community involvement, showcase Nouns commitment to Esports, and contribute to charitable initiatives.

Voting ends on May 9, 2024.

_Full Proposal:_ [_Smash Bros Coast to Coast: Gaming Events in Atlanta, LA, and NYC_](https://daobase.ai/proposal/details/493583)

**Stay ahead of the game**
==========================

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_⚠️ Disclaimer: The information provided in this newsletter is for informational purposes only and should not be considered as financial advice. Readers are encouraged to conduct their own research before making any investment decisions._

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*Originally published on [DAOBase](https://paragraph.com/@daobase/the-weekly-dao-newsletter-may-3-9)*