A major U.S. cryptocurrency exchange recently published a report with new research on the state of onchain governance. According to the report, onchain governance for decentralized autonomous organizations (DAOs) continues to struggle with highly concentrated governance tokens and low participation rates. The report states that less than 0.1 percent of total governance token holders own more than 50 percent of the total supply for several major governance tokens on the Ethereum network. The report also finds that only 1 percent of DAO token holders are active in governance voting discussions, and even fewer token holders participate in the final voting process.
Another major cryptocurrency exchange recently released research examining the growing intersection between artificial intelligence and cryptocurrencies. The report begins by comparing AI agents, which retain a level of autonomy, with bots, which are task-specific programs. The report then details several implementations of AI agents in the crypto space, including, among others, the use of an AI agent to market a "memecoin"; a platform where users may create and tokenize AI agents; and the creation of AI agent-led hedge funds using a DAO structure. The report concludes that while AI agent development is in its early days, there is a promising future for the technology to be paired with crypto.
Finally, blockchain analytics company Chainalysis recently published a report detailing the steps it believes traditional financial institutions should undertake when considering cryptocurrency product rollouts. The report describes the following phases, which it refers to as the "Crypto Maturity Journey": (1) education, strategy and planning; (2) supporting and interacting with cryptocurrency businesses; (3) offering cryptocurrency-based investment products, such as Bitcoin ETPs; (4) offering crypto deposits and custody; and (5) expanding into complex products such as crypto loans, DeFi and stablecoin payments.
For more information, please refer to the following links:
- CB Monthly Outlook: Onchain Governance in Theory and Practice
- [] Research: Exploring the Future of AI Agents in Crypto
- Exploring the Future of AI Agents in Crypto
- Chainalysis: The 2024 Crypto Maturity Journey
- The 2024 Crypto Maturity Journey: How traditional finance can adopt cryptocurrency in stages
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