New DAOs in The Making
Aragon Network is getting a makeover, Emurgo to spruce up Cardano ecosystem, Why DAOs > corporations, and updates from mesha
Hi there! 👋
Welcome to the mesha tribe: a weekly newsletter by mesha that brings you the latest updates on funding, DAO news and governance to help you take your project #ToTheMoon🚀
In this edition, we discuss:
· The treasury changes of top 5 DAOs
· Latest in web3 deals
· News hot from the web
· Good reads
· Updates from mesha
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Top DAOs By AUM
Weekly Deals You Should Know About
· Cardano’s Founding Firm Plans $200M For Ecosystem Boost
Emurgo, the company that launched the Cardano blockchain, is planning to invest up to $200M over a three-year period to boost the ecosystem’s growth. The funds will be used to fuel Cardano projects.
· MPCH Bagged $40M To Build New Crypto Security Product
MPCH Labs raised $40M in funding, led by Liberty City Ventures, ahead of its first product launch – Fraction. The product will be a customizable operating platform geared towards security of digital assets, wallets and workflows.
· Space and Time Gets $20M From M12
Microsoft’s venture capital firm M12 has funnelled $20M into Space and Time, a decentralized data platform. The funds will be put to use to engineer a product that is more mature and an enterprise-secure data warehouse, according to the firm’s CEO.
· Eclipse Raises $15M to Build “Universal Layer-2”
Eclipse, a blockchain scaling firm, has raised $15M, co-led by Tribe Capital and Tabiya, to build a customizable rollup that will be compatible with different Layer-1 blockchains.
📰What’s Cooking in Web3? 📰
· Tribe DAO Will Pay Back Rari Capital Hack Victims in Full
After all the crypto hacks that have been doing the rounds, there’s some good news. Tribe DAO, a merger of Rari Capital and Fei Protocol, is paying back its Rari Capital Hack victims in full.
In April this year, individuals and DAOs who had invested in Rari Capital liquidity pools lost $80M to a cyber hack. After several rounds of voting and governance proposals, the DAO has finally agreed to pay back its members from its treasury. Individuals will be paid back in FEI and DAOs will receive their lost funds in DAI.
The final decision comes after four rounds of voting since May. Tribe DAO will shut down after paying off all its dues.
· Aragon Network Asks Members to Vote on New DAO Structure
Aragon Network, the open-source software popularly used to create and manage DAOs, is holding a vote to decide important parts of its new organizational structure.
Members can cast votes until October 5th in two stages – the first vote will determine how the DAO’s treasury funds will be used once it ceases to exist and transitions to a new structure; the second vote will address the new DAO’s charter.
What’s happening? Aragon Network, though used to create DAOs, wasn’t initially set up as one. It is now transitioning to a DAO structure. The new DAO will enable delegated voting, wherein members of the DAO can transfer their voting rights to other members, who can vote on their behalf.
· Karate Combat Proposes a DAO to Shift Power to Athletes and Fans
DAOs can be used in exciting ways and testament to that is martial combats league Karate Combat’s announcement to launch a DAO that will shift governance to fans and athletes.
The DAO is part of Hedera’s HBAR Foundation that is expected to launch in December 2022. The league plans to distribute 50% of its tokens, KARATE, to the community for free. Holding the tokens will enable members to make key decisions including fixing the league’s budget, resource allocation, marketing strategies, rule changes, fighter contracts and fight match-up selections.
Karate DAO has an online community of over 3.5 million members. The upcoming DAO will put more power in the hands of those who watch the league.
· Vitalik Lists 3 Reasons Why DAOs Are Better Than Corporations
· Blurring the line between crypto and TradFi could redefine global finance
· Can the Metaverse exist without blockchain?
· McLaren Racing Unveils Crypto-Inspired Car Livery Ahead of Singapore GP
Mesha is building the bank for Web3
mesha is building tools to secure and simplify finance ops for Web3 teams, DAOs and start-ups.
Our suite of products include corporate credit cards for web3 teams, on-chain expense management, multi-safes, reimbursement management, DeFi, payroll and advanced team management features for powering finance teams at top DAOs and leading web3 startups.
If you’re a web3 team or DAO looking to simplify finance ops and bring real-time performance tracking to your fingertips try mesha now.
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