Key Takeaways
- DAOs have evolved into core pillars of Web3governing billions in treasury assets across financecultureinfrastructureand social impact.
- The ten largest DAOs in 2025 span stablecoinsdecentralized exchangeslendingstakingderivativesblockchain infrastructureand AI networks.
- Unlike traditional companiesDAOs rely on token-holder governance and smart contracts rather than hierarchical decision-making.
- Despite growth and influenceDAOs still face low participationpotential vote manipulationand challenges balancing decentralization with operational efficiency.
In recent years, decentralized autonomous organizations (DAOs) have emerged as an influential new organizational form. A DAO is an entity whose rules are encoded on a blockchain and governance is broadly carried out by token-holders. While initially DAOs were largely experimentaltoday they’re being used for a wide range of purposesfrom investing and insurance to governance of protocolscollective purchase of artand real-world assets.
For examplethe mission of “The One DAO” was to pool funds and purchase a luxury estatewhereas PleasrDAO bought the only copy of the Once Upon a Time in Shaolin album by the Wu‑Tang Clan to conserve cultural heritage. These eye-catching examples illustrate the broad spectrum of things DAOs can do.
In this articlewe’ll explore ten of the biggest DAOs in 2025their missionscontextand major milestones.
10 Biggest DAOs in 2025
Below are ten of the largest and most influential DAOs in 2025 (not ranked strictly by treasurybut by influencegovernance sizeand ecosystem role).
1. MakerDAO – Create a DecentralizedStableInflation-Resistant Currency
MakerDAO’s mission is to provide a stablecensorship-resistantand inflation-proof decentralized currencyDAI (now USDS)one of the longest-standing and most widely used stablecoins in crypto. Operating on Ethereum and other blockchainsMakerDAO allows users to lock collateral (such as ETHwBTCor real-world assets) in smart contracts and mint DAIwhich maintains its soft peg to the US dollar through algorithmic stability mechanisms.
Founded in 2014 by Rune ChristensenMakerDAO pioneered decentralized finance before “DeFi” even became a mainstream term. It operates through the Maker Protocolgoverned by MKR token holders who vote on risk parameterscollateral typesdebt ceilingsand stability fees.
Over the yearsthe DAO has undergone one of the most successful decentralization transitions in blockchain history. It phased out the Maker Foundation and moved toward full community governance. Recent developments include MakerDAO’s rebrand to Sky and its “Endgame” plana sweeping protocol redesign that introduces “sub-DAOs,” enhances resilienceand diversifies DAI’s collateral through real-world assets such as U.S. Treasuries and tokenized bonds.
MakerDAO is a cornerstone of DeFianchoring countless lendingtradingand yield protocols that use DAI as a stable medium of exchange. Its governance model is a template for how decentralized systems can manage complex monetary policies transparently.
DAI maintains high stability despite volatile markets with the DAO holding billions in treasury assetsand its community continuing to refine the model of algorithmicdecentralized stability.
2. Uniswap DAO – Govern the World’s Largest Decentralized Exchange
Uniswap DAO governs Uniswapthe world’s leading decentralized exchange (DEX)which revolutionized crypto trading through automated market makers (AMMs) instead of traditional order books. By issuing the UNI governance tokenUniswap has empowered its community to control fee structurestreasury allocationsand major protocol upgrades.
Launched in 2020 and now in its fourth iterationUniswap remains a dominant force in decentralized liquidity. In 2025the DAO rolled out Uniswap v4introducing customizable liquidity hooks and a new “singleton” architecture to reduce gas costs and enable on-chain innovation. Moreoverthe DAO introduced the “Uniswap Unleashed” initiativereforming governance for greater regulatory resilience and institutional adoption.
For examplekey governance activities include proposal submissions via gov.uniswap.orgdelegation of votes to key representativesand cross-chain expansion to Layer-2 ecosystems like ArbitrumBaseand Optimism. With nearly 400,000 token holders and billions in total value locked (TVL)the DAO has one of the most active governance forums in DeFi.
Uniswap DAO sets the benchmark for decentralized trading infrastructureinfluencing policy debates on DeFi regulation and transparency. It demonstrates how community-governed exchanges can remain competitive with centralized platforms while preserving open access and liquidity efficiency. Over the yearsit has achieved multi-chain expansionhigh liquidity depthand played a growing role in shaping DeFi governance standards globally.
3. Arbitrum DAO – Decentralized Governance of Ethereum’s Leading Layer-2 Rollup Network
Arbitrum DAO governs Arbitrum One and Arbitrum Novatwo of the most widely used Layer-2 rollups that scale Ethereum by reducing gas fees and increasing throughput. The DAOgoverned by the ARB tokenmanages the protocol’s parameterstreasuryand ecosystem funding.
Its mission is to empower the community to steer the evolution of Arbitrum. From approving new chains to managing governance frameworksand ensuring long-term decentralization. Governance happens through Arbitrum Improvement Proposals (AIPs)which are submitteddebatedand voted upon via the DAO’s on-chain portal.
In 2025Arbitrum DAO became one of Ethereum’s most active and well-funded DAOswith over 3.5 billion ARB in treasury assets. It also launched sub-DAOs dedicated to ecosystem grantsdeveloper educationand governance research. Howeverthe DAO has faced challenges balancing efficiency with decentralization. In mid-2025it proposed adding veto power for a foundation oversight bodysparking community debate about the concentration of influence.
Arbitrum DAO is a case study in scaling governance alongside technology. Its success shows how decentralized organizations can govern complex infrastructure without sacrificing performance. The DAO has demonstrated rapid ecosystem growthtransparent grant fundingand the development of scalable on-chain governance tools.
4. Aave DAO – Enable DecentralizedPermissionless Lending and Borrowing
Aave DAO governs the Aave protocola decentralized liquidity market where users can lend and borrow crypto assets through non-custodial smart contracts. Since its launch in 2017Aave has evolved into one of DeFi’s largest platformsoperating across multiple networks including EthereumPolygonand Avalanche.
The DAO’s mission is to maintain securepermissionless access to financial services. Through the AAVE tokencommunity members vote on proposals that adjust interest rate modelscollateral eligibilityand risk parameters. The DAO also oversees ecosystem grants and treasury deployment for R&D.
By 2025Aave DAO had integrated GHOits native decentralized stablecoingoverned and stabilized by community votes. It also expanded its Aave Arc initiativebridging institutional liquidity providers with DeFi protocols while maintaining on-chain transparency.
Aave DAO exemplifies a balancedlong-term governance approach that blends decentralization with risk management. It has managed to remain one of the largest lending protocols by both liquidity and user count.
5. Lido DAO – Simplify and Decentralize Staking Across PoS Networks
Lido DAO manages Lido Financethe leading liquid staking protocol for Ethereum and other Proof-of-Stake networks. Its mission is to make staking securedecentralizedand accessible to everyoneremoving the technical barriers that prevent everyday users from participating in staking.
Through its LDO tokenLido DAO governs key protocol parameters such as validator selectionfee structureand treasury distribution. Initially launched for EthereumLido has expanded to networks like PolygonSolanaand Polkadot (though some have been sunset for security reasons). The DAO maintains a treasury that funds ecosystem grantsR&Dand validator performance audits.
In 2025Lido remains the largest staking provider by market shareholding billions in staked ETH via its token stETH. The DAO has also introduced “dual governance” to reduce centralization risksgiving stETH holders veto rights over major decisions.
Lido DAO demonstrates how decentralized governance can manage stakinga critical layer of blockchain infrastructure. It underpins Ethereum’s security while rewarding participants with yield-bearing tokens.
6. Curve DAO – Provide EfficientDecentralized Stablecoin and Pegged-Asset Liquidity
Curve DAO governs Curve Financea decentralized exchange optimized for stablecoins and pegged assets. It’s known for its efficient automated market maker algorithm that minimizes slippage on stable pairs. The DAO operates through the CRV governance token and the veCRV time-locking system. Consequentlythis aligns incentives between liquidity providers and long-term participants.
Its mission is to build the foundational liquidity layer for the decentralized economy—trustlessautonomousand community-controlled. Governance decisions determine pool weightsliquidity incentivesand protocol upgradesall recorded transparently on-chain.
In 2025Curve DAO expanded aggressively into cross-chain liquidityintegrating with rollups and non-EVM networks. It also recovered from the 2023 CRV market shockrestructuring emissions and introducing a new tokenomics model to sustain long-term stability.
Curve DAO’s governance modelparticularly its veCRV systemhas influenced DeFi tokenomics across the industry. It remains essential infrastructure for stablecoin liquidityyield optimizationand cross-protocol integrations. It established the “Curve Wars” as a yield-governance standard and maintained resilience through multiple market cycles.
7. Compound DAO – Govern Algorithmic Money Markets for Decentralized Borrowing and Lending
Compound DAO governs Compound Financeone of DeFi’s earliest and most respected lending protocols. Its mission is to create algorithmic money markets that allow anyone to supply or borrow assets securely and transparently.
Governed by the COMP tokenthe DAO manages protocol upgradescollateral factorsand interest rate models. Every decisionfrom integrating new assets to adjusting risk parameterspasses through community proposals and on-chain voting.
In 2025Compound DAO continues to play a major role in DeFi infrastructurewith multiple v3 deployments that streamline collateral management and improve capital efficiency. In additionthe DAO has also pursued real-world asset integration and improved governance tooling for delegate transparency.
Compound DAO pioneered decentralized lending governance and remains a reference model for how DAOs can evolve financial systems. Its transparentdata-driven governance process set early standards for DeFi decision-making.
8. Synthetix DAO – Power On-Chain Synthetic Assets and Derivatives Markets
Synthetix DAO governs the Synthetix protocola decentralized platform for creating and trading synthetic assets that mirror the value of real-world instruments such as fiat currenciescommoditiesand indexes. Using the SNX tokenstakers back the issuance of “Synths” and participate in governance through a structured council system.
The DAO’s mission is to democratize access to financial derivatives. In other wordsit allows anyone to trade and hedge positions on-chain without relying on centralized brokers. It oversees parameters for staking rewardsdebt poolsand protocol upgradeswhile maintaining decentralization through community-elected councils.
Most recentlySynthetix DAO completed its migration to Synthetix v3introducing modular architecture and permissionless market creation. This shift allows builders to launch custom derivatives markets directly on Synthetix infrastructure.
The DAO showcases how decentralized governance can operate a derivatives exchange at scale. It continues to push the boundaries of synthetic financethus aligning protocol sustainability with community participation. It has continuous liquidity incentivesits own stablecoin with sUSDand it’s becoming the backbone for multiple perpetual futures and DeFi derivatives platforms.
9. Internet Computer DAO – Govern a Fully DecentralizedOn-Chain Cloud and Smart Contract Platform
Internet Computer DAO governs the Internet Computer blockchain (ICP)a decentralized computing network built by the DFINITY Foundation but transitioned to community governance. Its mission is to create a truly decentralized internet where apps and smart contracts run entirely on-chainwithout relying on traditional servers or cloud providers.
By 2025the Internet Computer DAO has grown into one of the largest and most technically sophisticated DAOs in the world. Governance occurs through the Network Nervous System (NNS)—a fully on-chain voting and upgrade mechanism where token holders stake ICP to form “neurons” that vote on proposals. The DAO is responsible for changing protocol parameterssubnet managementtreasury allocationsand decentralization of node operations.
Internet Computer DAO is a next-gen DAOone that governs not just finances or DeFi protocolsbut the entire infrastructure of a blockchain network. Moreoverit demonstrates how DAOs can evolve into fully autonomous governance systems for complexself-upgrading software ecosystems.
In 2024–2025the DAO completed major decentralization milestonesincluding open node participationnew subnet additionsand more.
10. Bittensor DAO – Build a DecentralizedIncentive-Driven AI Network and Marketplace
Bittensor DAO governs the Bittensor networka decentralizedblockchain-based machine-learning protocol. It rewards contributors for providing AI models and computational intelligence. The DAO’s mission is to build an openpermissionless marketplace for artificial intelligencewhere developersvalidatorsand data providers collaborate and are rewarded in the native tokenTAO.
Bittensor DAO has become one of the most innovative and rapidly expanding DAOssitting at the intersection of AI and Web3. The DAO manages incentive mechanismsnetwork subnetstreasury distributionand governance over protocol updates. Unlike traditional AI platforms controlled by centralized companiesBittensor allows thousands of independent participants to train and share AI models across an open network.
The DAO oversees parameter votingsubnet proposalsTAO reward adjustmentsand ecosystem development grants. In 2025it approved subnet expansions to support large-scale AI model training and forged partnerships with major DeFi and data-storage DAOs.
This evolution demonstrates how decentralized governance can move beyond finance and infrastructureredefining what a DAO can be.
DAO vs Company – What’s the Difference?
| Feature | Traditional Company | DAO |
|---|---|---|
| Governance Structure | Managed by executivesa board of directorsand hierarchical decision-making | Governed by token-holders through on-chain proposals and voting mechanisms |
| Decision-Making | Top-down; decisions flow from management to employees | Bottom-up; proposals are submitted and approved by the community |
| Legal Entity | Registered legal entity under specific jurisdictional laws | Often lacks formal legal status or operates via wrappers (e.g.foundationsLLCs) |
| Ownership Model | Concentrated among shareholdersfoundersor private owners | Distributed among token-holders with transparent on-chain records |
| Transparency | Limited to internal disclosures or regulated financial statements | All transactions and votes are public on the blockchain |
| Participation | Restricted to employeesinvestorsor appointed board members | Open to anyone holding the governance token; pseudonymous participation possible |
| Funding & Treasury | Funded through equitydebtor traditional investment | Funded via token issuanceprotocol revenueor community treasury |
| Adaptability | Requires formal restructuringapprovalsand compliance processes | Upgradable via code and governance votes; rapid iteration possible |
A company typically has a CEOboardand hierarchyso decisions are pushed top-downwith employees executing. In contrasta DAO is built around smart contracts and governance by token-holders: proposals are submittedvoted onand executed.
Furthermorewhereas companies are constrained by legal forms and jurisdictionsDAOs operate across borders. Anyone with tokens can influence their treasuries. That saidDAOs are not free from centralization as top token-holders still hold a large concentration of power. DAOs shift governance toward the community and logic of codewhereas companies still rely on centralized human decision-making.
Closing Thoughts
In 2025DAOs have evolved from experiments into core pillars of the Web3 ecosystem. Moreoverthey manage billions in treasury assets and engage millions of token holders across financeinfrastructurecultureand social good. Yet governance participation remains limitedraising concerns about concentration of powervote manipulationand the trade-off between decentralization and efficiency. Stilltheir diversity of missions underscores why DAOs remain one of Web3’s most dynamic and versatile organizational models.
