The investment community and the “social experiment” UniWhales have raised $ 2.2 million as part of a larger effort to switch to Decentralized Autonomous Organizations (DAOs).
Signum Capital announced on Tuesday that it led the round at Hyperchain Capital, Faculty Capital, Impossible Finance and Double Peak Capital. Several angels also contributed, including PopcornKirby, Kris Cheng, Polygon’s Sandeep Nailwal, and Daedalus Angel Syndicate.
As the world of decentralized finance (DeFi) expands into part of the $ 88 billion crypto economy, most of the money is used to build DAOs and add team members to develop new products. increase.
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According to UniWhales co-founder Matt Aaron, this increase is a sign of increased project ambition. “We’re raising money because it started as an experiment using token-driven Web3 data analysis,” he said. “But now we want to be a full-fledged DAO and have staff to move from a tokenized platform to a fully decentralized DAO.”
In an interview with CoinDesk, Aaron said the project was initially launched as a simple Telegram alert channel to inform people about the most important activities on the decentralized exchange Uniswap.
Following the popularity of the channel, Aaron and co-founder Timur Milzoshalipov launched a token-controlled access service that captivated a wide section of the DeFi community, including engineers, venture capitalists and renowned Twitter crypto traders. Membership requires 5,000 UniWhales (UWL) tokens, approximately $ 3,700.
Contribution to the community
The community is currently UniWhales’ largest asset as it wants to expand its services. “Many of our DAO members are individuals with high net worth connections,” said Aaron, with more than 35% of DAO members commenting on how the product works.
He joked that dynamics would lead to a much more efficient repetitive system than the “need to bribe users with Starbucks gift cards” business.
“Web 2 has teams, products, and customers, and Web 3 has teams and DAO members working on products together.”
One of the products the team develops is Drip, an online marketing marketing product built on Polygon. It first appeared in the ETH Global Non-Fungible Token (NFT) Hackathon. In addition, the team continues its “mission to reduce DeFi brain fatigue” through its members’ “compiled” community data.