Decentralized autonomous organizations (DAO) have emerged as a structure for groups to organize investment or enact social change. One of these DAOs that has emerged in recent years is called DAO Invest.
This DAO uses its funds to manage a community controlled crypto portfolio. It’s an interesting idea that has not really taken off to the extent that the founders likely envisioned.
Anyway, this article will offer a comprehensive review of DAO Invest.
What is DAO Invest?
As we mentioned in the introduction, DAO Invest is an investment based DAO. The collective decides the future of the liquidity pools by voting. At the moment, DAO Invest is a multichain project on Ethereum, Binance Smart Chain, and Polygon/Matic.
Now, the main selling point with $VEST is that it’s possible to stake $VEST and earn over 60% APY.
That’s a fairly high APY for traditional finance, but it’s fairly low for decentralized finance. It’s not high enough to be a cause for concern.
Is DAO Invest a Good Investment?
The price history of $VEST has been erratic with the price jumping almost 50% per day for the past few weeks.
Unfortunately, the price has fallen quite a bit in 2022. It did fairly well in 2021 when the price hovered around $0.09/VEST. The price currently stands around $0.01, which is not very good.
We would not rank DAO Invest as a particularly strong investment. The market cap is allegedly $120 million USD, but that’s a self-reported market cap.
The project has next to no publicity with no one on the English language internet discussing this project. There is no discussion on Reddit, none on Twitter, and we cannot find any Medium articles or anything like that discussing the project.
Admittedly, a lot of the discussion about the project could be occurring in other languages, but we find that unlikely.
Something about this project seems suspicious. We will not call it an outright scam, but it seems very suspicious. We would not invest in this project at the moment.
Where to Buy DAO Invest (VEST)?
You can purchase DAO Invest on PancakeSwap (BSC) or Uniswap (Ethereum and Matic). It’s also available on 1Inch and QuickSwap. The majority of the transactions appear to take place on a centralized exchange called Stex.
Is DAO Invest a Scam?
We are not sure if this project is a scam or not. It is not popular enough for anyone to come forward about their theories about the project.
Our general framework for investing in new projects is that all projects are scams until proven otherwise. DAO Invest has not done anything to prove they are not a scam. Granted, they haven’t done anything that shows they are explicitly a scam, but since there are so many scams in crypto it’s hard to take a project seriously at face value.
Our Problems With DAO Invest
We have issues with DAO Invest that we would like to see resolved before deeming this project a safe investment. These problems include the following:
- The project does not have a whitepaper.
- Yes, we understand that this is DAO, but a whitepaper explaining everything (tokenomics, purpose of the DAO, etc.) would be greatly appreciated.
- Why is the market cap on CMC so high compared to the social media engagement?
- CMC claims the market cap is $118 million.
- The tweets from the official Twitter account receive 0-3 likes and no comments.
Those are just two of the problems we have with DAO Invest. The developers need to resolve those two issues to make this project have a lot more legitimacy.
Quite frankly, we would not invest in this project just because it does not have a whitepaper or any communication from developers. We cannot think of a legitimate project that does not have a whitepaper or one that has such little communication from the developers.
To summarize, this is a very strange project. The developers have almost no communication with the DAO, the project has one proposal, and it receives no attention from the public.
Again, we will not call this project a scam, but the developers really need to put some more effort into this project. It seems like they just created a DAO without much plan or groundwork for the DAO to run itself.
For these reasons, we would not invest in this project at this moment in time.