Decentralised Autonomous Organizations (DAOs) stand as the pillars of Web3. They are organisations with no centralised control. They are built on beliefs around decentralisation, transparent governance, and community-driven decision-making.

These organisations operate on blockchain networks, enabling individuals around the world to collaborate and execute impactful projects without centralised control.

Here are 10 remarkable DAOs that have revolutionised and shaped the landscape of Web3.

1. The DAO

The DAO was established in 2016 on Ethereum. And its goal was to function as a decentralised venture capital fund. That is, it allowed individuals to propose and decide on investments through voting using Ethereum-based tokens.

Despite its eventual collapse due to a critical exploit, The DAO remains influential for:

Exploring decentralised governance
Pushing subsequent DAO developments
Emphasising the importance of smart contract security.

2. MakerDAO

Founded in 2014, MakerDAO aims to create the stablecoin DAI, pegged to the US dollar. This was created on the Ethereum blockchain.

Users generate DAI by locking collateral assets into smart contracts, ensuring stability through collateralisation.

MakerDAO's DAI has significantly contributed to DeFi by providing a stable medium of exchange and store of value. It enables lending, borrowing, and participation in various DeFi protocols without exposure to traditional financial system volatility.

3. Uniswap

Uniswap, launched in 2018, introduced an automated liquidity protocol on Ethereum. This enables easy token swapping through liquidity pools.

Operating as a DAO, Uniswap promotes decentralised exchanges (DEXs) without order books. The result is instant and intermediary-free token swaps.

Uniswap's automated market-making (AMM) model has significantly boosted liquidity provision in DeFi. This boost now provides an accessible and permissionless token trading and liquidity provisioning environment.

4. Aave

Launched in 2020, Aave operates as a decentralised lending and borrowing protocol on Ethereum. Users can deposit assets into Aave's liquidity pools to earn interest or borrow assets by over-collateralizing their positions.

Aave is governed by the Aave Improvement Proposals (AIPs) voted upon by the community. This DAO offers innovative features like flash loans, providing instant liquidity without requiring collateral.

Its flexibility and diverse collateral options solidify its role as a DeFi cornerstone.

5. Yearn.finance

Founded in 2020, Yearn.finance serves as an automated yield aggregator in DeFi.

As a DAO, it optimises yield farming strategies by reallocating funds across various DeFi platforms to maximise user returns. That is, you offer capital and it finds the best platform for you.

Yearn.finance simplifies yield farming, making it more accessible and efficient for DeFi participants. This is possible through its governance token YFI and community-driven decision-making,

6. Compound

Established in 2017, Compound functions as a decentralised lending platform. It enables users to earn interest on deposits or borrow assets using collateral.

Operating as a DAO, Compound's community governs protocol changes transparently through voting mechanisms. This ensures efficiency and transparency in lending and borrowing operations within DeFi.

7. Aragon

Initiated in 2016, Aragon provides a framework for creating and managing DAOs on Ethereum.

It offers tools and templates for decentralised governance, empowering organisations to create and govern their entities autonomously.

Aragon aims to push a more decentralised and transparent future for organisations worldwide. Their goal is to allow communities to govern collectively without centralised control.

8. Synthetix

Synthetix, established in 2017, operates as a decentralised synthetic asset issuance protocol on Ethereum.

As a DAO, it enables users to mint and trade synthetic assets, mirroring the value of real-world assets, commodities, and currencies without holding the underlying assets.

Synthetix offers exposure to a wide range of assets within DeFi, enabling users to diversify their portfolios without traditional barriers.

9. Curve Finance

Launched in 2020, Curve Finance specialises in stablecoin trading on Ethereum, providing low-slippage swaps between stable assets.

As a DAO, Curve Finance aims to facilitate efficient stablecoin trading, minimising price fluctuations for users.

Its focus on stable assets has made it a key player in DeFi liquidity provision, especially for those seeking stable asset exposure.

10. Balancer

Established in 2019, Balancer operates as an automated portfolio manager and liquidity provider on Ethereum.

As a DAO, it allows users to create or add liquidity to pools with multiple tokens and varying weights.

Balancer aims to provide flexibility in portfolio management and automated trading strategies, offering users exposure to a diverse range of assets and reducing impermanent loss in liquidity provision.

The bottom line

Each DAO contributes uniquely to web3. Collectively they're reshaping governance, finance, and community collaboration. Hence, they pave the way for a more decentralised and inclusive future.

Now that you know each DAO and what it stands for, you can decide which aligns with your interest. Assuming you plan to join a DAO, you now have an idea of which to go for.