Common Secures 20 Million to Transform Decentralized Communities
Something is shifting within the structure of decentralized energy. Common, the creator of Commonwealth, has drawn in $20 million from a few of Web3’s most influential backers: Longhash, Polychain, Dragonfly, Wintermute, and Mirana Ventures, the enterprise arm of BitDAO.
Common goals to tackle a widespread subject: the chaos of Web3 governance. On chains like Ethereum, Solana, NEAR, and others, decentralized communities discover it tough to make selections, coordinate tasks, and keep up to date. Common is creating a platform that consolidates all these actions. Users can deploy governance contracts, fund new initiatives, and talk about proposals in built-in dialogue areas, making certain transparency and ease.
A Cross-Chain Home for the Decentralized World
According to CEO Dillon Chen, Common’s purpose is to make governance much less scattered and extra accessible. “The crypto area is just too fractured between a number of blockchains,” he mentioned. “It’s essential to have one cross-network governance dashboard that helps token holders keep concerned in discussions and proposals.”
This thought isn’t simply theoretical. More than 700 decentralized communities already use Common, together with main tasks like dYdX and Axie Infinity, in addition to ecosystem foundations equivalent to NEAR, Solana, Polygon, and BitDAO. These tasks rely on the platform not just for governance but in addition to foster lively, collaborative communities.
Looking forward, Common’s subsequent transfer will take this additional. The crew is engaged on an app retailer for DAOs, enabling communities to choose instruments tailor-made to their wants, from treasury administration to proposal analytics. The goal is to make DAO governance as versatile as managing a conventional enterprise, with out compromising decentralization.
From Platform to (*20*)
Aligned with this philosophy, Common can also be present process decentralization. The firm intends to introduce its personal token, $CMN, which is able to empower customers to have extra affect over the platform’s growth. This initiative embodies Common’s long-term purpose: reworking its customers into stakeholders who assist form the core instruments they rely on.
The $20 million funding spherical follows a $3.2 million seed funding final 12 months, led by Dragonfly Capital and ParaFi Capital, throughout Common’s early part. Among its preliminary angel buyers was Do Kwon, a determine who has since gained notoriety within the crypto group.
With over 60,000 lively customers and main Web3 gamers already onboard, Common has expanded past being only a governance instrument. It now goals to develop into the digital infrastructure the place the subsequent wave of DAOs will function, supporting voting, collaboration, and growth in a single platform for each group united by a shared purpose.
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