DeepDAO is an open source project that aims to apply blockchain technology to the financial world by providing a decentralized and self-sustainable platform for the management of financial resources. The platform is designed to offer maximum security, transparency, and efficiency, enabling users to make secure and efficient financial decisions in the future.
DeepDAO , the decentralized autonomous organization (DAO) that builds Decentralized Autonomous Organizations (DAOs) with Blockchain technology, has raised $3 million in funding to expand its operations.
DeepDAO is a decentralized application store that allows users to build and deploy smart contracts for any purpose. With a user interface that resembles Google Play, the DeepDAO app store is designed to be easy for developers to use, while also offering a powerful set of tools for anyone wanting to build applications on the blockchain.
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- Hypersphere and DFG led a round of funding for DeepDAO.
- Since November, DAO treasuries have risen by 300 percent.
- This money will be used to expand in the future.
In a round sponsored by venture capital companies Hypersphere and DFG, DeepDAO received $3 million.
DeepDAO is also a data-gathering website run by a decentralized autonomous organization (DAO). DeepDAO v1 data is now available for over 100 DAOs, gathering information on the treasury, membership, and governance.
DeepDAO also has 66,000 members and $587 million in assets under control (AUM). Because of the current crypto market crash, AUM has fallen 46 percent from over $1 million. Despite this, DAO treasuries have risen over 300 percent since November began.
This money is also used for growth, such as merging DAOs from other networks, expanding data coverage, and adding governance tools. Eyal Eithcowich, the creator and CEO of DeepDAO, estimates that the DAO’s total AUM would exceed $10 billion by the end of 2021, with over one million members. He goes on to say:
“We concentrate on delivering social features and services that allow a transparent and proactive community to catalog all of these governance systems across different chains and platforms, as well as study and evaluate them as a bigger ecosystem,” says the company. I’m dead set on doing it.”
Furthermore, Daniel Bar, the Founder Advisor of DeepDAO and Chairman of Bitfwd Capital, believes that the platform would offer a better user experience and social media forums. Despite DAO’s explosive development over the last year, Bar highlighted a number of difficulties for the fledgling industry, including identification, standards, and a steep learning curve.
Users have more influence over decentralized protocols, but high-quality tools are required to unleash transparency and inclusiveness. Furthermore, many people believe that DAO is a nebulous term.
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