Friday, March 29

DAOs Hit Accelerators: Defi Alliance Raises $50M


The DAO (Decentralized Autonomous Organization) break into the accelerator business model with the Defi Alliance. This association, created by several investment firms in 2020, has raised 50 million dollars from 300 investors and announces that it will become a DAO, to accelerate the best startups of Web 3. After the success shown by the DAOs to raise funds in a short space of time, Defi Alliance is now betting on this new organizational model.

DAO Accelerators: Defi Alliance

Made up of Volt Capital, Jump Capital, Cumberland DRW and CMT Digital, Volt Capital partner Imran Khan has defined the new Alliance as the world’s first digital startup nation, dedicated to accelerating the best Web 3 startups. Under the name of Defi Alliance of Chicago, the association began its journey helping companies DyDx Y Yield. But he has also contributed to the development of Olympus DAO, Sushiswap or Synthetix.

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In his day, Khan explained that the name of Chicago was due to the fact that in this city there are real opportunities to use its financial and commercial experience to support DeFi products around the world. Since the DAO knows no borders, the Chicago name has disappeared. The same has happened with DeFi. In less than two years, the major capitalists involved in the crypto/blockchain industry seem to have agreed that the term that best defines what they are building is Web 3.

Web 3 to one billion users

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In their announcement, the DeFi Alliance explains that they are becoming a DAO to bring Web 3 to 1 billion users. The new DAO Alliance aspires to become the world’s first digital startup nation, to accelerate the best Web 3 companies. The Alliance specifies that the new DAO will be a virtual place where startups live. “Although the Alliance is first and foremost an emerging digital nation, it may ultimately become a much larger digital nation state,” they explain on their website.

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Alliance adds that four megatrends create the perfect storm for the rise of DAOs as digital nation states. Among them, he cites the decentralization of the global superpowers. “The United States has been gradually losing influence as the executor of the world order. The European Union is much less united today. China’s values ​​are fundamentally incompatible with the West, so it is neither able nor willing to assume the role of world policeman. This has created a vacuum that no nation state alone can fill,” he says.

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Megatendecias, DAO

The rise of Web3 is also cited as a megatrend. Thanks to Satoshi and other giants, a new technology arrived that gave us the ability to implement property rights through encryption, they explain. This new technology also brought the constitution and laws through smart contracts. Taxation through token issuance, transparent policy making through an open ledger, and international trading through DeFi.

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Alliance refers to The Fourth Turn as another of the great trends. In this sense, he underlines that we have entered an era of great internal division between the establishment and the commoners. Between progressives and conservatives, boomers and millennials, rich and poor, and between capitalists and socialists. Ordinary people are increasingly frustrated with these social problems, but the vast majority cannot choose the society, government and country they belong to, they explain.

The company will begin to take shape in the coming months and will explain how it will be governed and operated as a DAO and the services it will offer.

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