According to a recent report published by blockchain software company ConsenSys, the top 20 decentralized autonomous organizations now hold $6 billion worth of crypto assets in 2021. The data was revealed in the DeFi report for Q2.
The largest DAOs include projects such as Uniswap, Compound, Bankless, and open funding organizations like Gitcoin as well. The reports elaborated how DeFi is booming in the second quarter, offering a new type of coordination for financial decision-making for financing and capital development.
Decentralized exchanges are gaining momentum for taking measures to allow access to cryptocurrencies such as Bitcoin and Ethereum from anywhere in the world. Users are only required to have an internet connection and a wallet like MetaMask. MetaMask wallet is owned by ConsenSys and reached over 7.3 million users in a span of three months.
The appeal of MetaMask is that it offers functions as a Bitcoin wallet and has access to the Ethereum blockchain. It also enables users to sign in to Dapps and operate them on a regular browser.
The report explained:
“What makes DeFi so alluring is that anyone with an idea can coordinate, pool funds, and even create tokens that represent your share within the organization.”