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)