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February 28, 2022

Syndicate Protocol And The Rapid Increase In DAO Formation

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The total number of Decentralized Autonomous Organizations (DAOs) spiked by more than 10% over the last month. But what factors caused the increase in DAO formation? One leading factor has been Syndicate, a decentralized investing protocol allowing users to create investment club DAOs.

In a tweet last week, Syndicate claimed that 10% of all DAOs currently in existence were created using its protocol in less than three weeks. Members of the club may contribute digital assets including cryptocurrency, stablecoins, and NFTs by connecting a digital wallet to the protocol. (Syndicate Tweet)

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