Decentralized autonomous organizations (DAOs) are one of the most applicable, productive, and important innovations in the cryptocurrency market. Many crypto enthusiasts have made bank of trading and buying DAO tokens, and many are still looking for new DAOs that will bring them mouth-watering headways. A central authority does not control decentralized autonomous organization tokens, but the community members do. This way, members of the community or ecosystem can make decisions on the network’s growth.
We are here with three good DAO tokens that you should watch out for; GryffinDAO (GDAO), Curve DAO (CRV), and Aave (AAVE). Let’s find out why these tokens should be on your watchlist.
Curve DAO (CRV)
Curve DAO (CRV) is a DeFi protocol built on the Ethereum (ETH) network, and it was built to support decentralized finance transactions for stablecoins. The Curve DAO (CRV) token is the native token of the Curve ecosystem, which enables hassle-free token swapping. The curve ecosystem has over 70 liquidity pools where users can keep their tokens and generate a yield. The yields usually depend on the supply and demand, though some liquidity tools offer over 30% APYs.
Curve DAO (CRV) is, of course, a DAO, and the contributions of all community members govern it. So, there is room for innovative contributions to the ecosystem. Curve DAO (CRV) is gradually climbing in the cryptocurrency market as it is now part of the top 80 cryptocurrencies.
Next on our watchlist is Aave (AAVE). The potential for significant long-term gains on the Aave ecosystem looks very feasible. The Aave (AAVE) ecosystem is a decentralized lending protocol that allows borrowers and lenders to interact directly without a centralized intermediary. As a result of increased functionality, Aave (AAVE) has been able to support other networks as opposed to only Ethereum (ETH). Since its launch, the Aave (AAVE) token has surged over 2,300%, though it is now way below such price surges due to the present bear market.
Being a DAO, community members can have a say in using treasury funds and other ecosystem decisions. Also, the AAVE token can be used as collateral within the network. Aave (AAVE) is another token to watch for in the upcoming bull run.
Gryffin DAO (GDAO)
There is a new kid on the block with loads of promises, GryffinDAO (GDAO). GryffinDAO (GDAO) is a decentralized protocol that aims to build a truly decentralized and autonomous ecosystem. Through cutting-edge technology, it plans to facilitate a DAO platform that provides an all-around utility creation to its community members.
GryffinDAO (GDAO) will be hosted by the Binance Smart Chain (BNB), and it will also be compatible with Ethereum (ETH) Virtual Machine (EVM) to allow for a wide range of applications and a seamless importing of dApps from the Ethereum chain. This looks like a roadmap for success, and this might be a great decision to keep GryffinDAO (GDAO) on our watchlist.
The GDAO, AAVE, and CRV DAO tokens have real functionalities. It is only a matter of time before these functionalities yield and potentially skyrocket in value. You might want to be on the watch.