Venture studio decent_dao has launched a DAO to build and finance new protocols with $10 million in funding at a $56 million valuation. BrandyBetz reports
, a developer framework to help companies scale their operations as a decentralized autonomous organization . It turns out Fractal was the first project from Decent DAO, a new project formally announced on Wednesday with a $10 million on-chain investment at a $56 million valuation from top names in crypto investing.
A venture studio builds companies rather than offering up a passive investment, a tactic that McCurley thinks has lost its competitive edge. Decent DAO is a shared decentralized studio for venture funds, builders and others to come together and build protocols.Decent Labs has five years of experience developing decentralized finance solutions on Ethereum. Decent DAO has only the broad mission of supporting open-source decentralized systems that involve tokenization as an economic driver.
Decent DAO will staff each new project with core contributors in the areas of development, design, product and marketing to get it started.The definition of a DAO, like Web 3, differs depending on who is using the term. At heart, a DAO is simply a collection of people working toward a shared goal with some type of token ownership involved.
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