Share this article
BTC
$77,487.76
-
7.16%ETH
$1,541.71
-
15.04%USDT
$0.9995
-
0.04%XRP
$1.8160
-
15.11%BNB
$547.68
-
7.49%USDC
$1.0002
-
0.01%SOL
$102.93
-
14.52%TRX
$0.2263
-
4.12%DOGE
$0.1416
-
15.87%ADA
$0.5544
-
14.61%LEO
$8.9275
-
2.47%LINK
$10.89
-
15.08%TON
$2.8872
-
11.00%XLM
$0.2129
-
15.68%AVAX
$15.68
-
10.16%SHIB
$0.0₄1103
-
10.52%SUI
$1.8473
-
16.07%OM
$5.8742
-
4.93%HBAR
$0.1349
-
15.90%BCH
$265.43
-
10.48%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menuResearch
Common Protocol Raises $3.2M to Streamline DeFi Governance
The project looks to help token investors keep track of governance discussions across multiple blockchains.
Governance startup Common Protocol has closed a $3.2 million funding round led by Dragonfly Capital and ParaFi Capital.
STORY CONTINUES BELOW
Other participating investors included Framework, Hashed, IDEO, Nascent and angel investor Balaji Srinivasan.
Common develops interfaces and voting mechanisms for projects in the decentralized finance (DeFi) market. The San Francisco-based firm said Tuesday it will use the funding to build a community for token holders and new hires.
"As active governance participants across DeFi, we've found it hard at times to keep tabs on the ever-expanding number of discussions and proposals across our portfolio,” said ParaFi partner Santiago Santos.
Santos described Common as a governance aggregator that monitors and manages proposals from one simple interface. It joins a crop of DeFi governance startups, including Snapshot, Tally and Boardroom, that are looking to bring transparency to distributed decision-making.
Read more: Tally Raises $1.5M to Boost On-Chain Governance in Compound’s DeFi Ecosystem
"Our goal is to become the place for token communities to launch, discuss and grow in common,” Common Protocol co-founder Dillon Chen said. “To accomplish this, we’re building a multi-chain community platform that any EVM-, Substrate- and Cosmos-compatible protocol or token can use.”
As crypto becomes increasingly multi-chain, Chen says a cross-network governance dashboard will be key for token holders.
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
