Značka: BitDAO

Game7 allocates $100M in open-source technology grants for Web 3.0 gaming companies

On November 28, blockchain gaming accelerator Game7 announced that it would allocate $100 million in open-source technology grants to upcoming Web 3.0 startups. As told by the Game7, distributions will support individuals and entities building blockchain games, smart contracts, core software infrastructures, and community tooling. The grants will be paid in USD Coin (USDC).What’s first?Open source technology grants are the first to launch – and we’ll be supporting individuals, DAOs, and companies working on:Game development toolingSmart contracts and standardsCore infrastructureCommunity tooling— Game7 (@G7_DAO) November 28, 2022Beyond the initial funding, the team said developers will also gain access to tech support, mentoring, and early Game7 initiatives. The decentralized autonomous organization, or DAO, claims it is chain agnostic and will support applications from any blockchain network. While award amounts have not been disclosed, in a list of frequently asked questions, Game7 explained that “applicants should not view grants as a substitute for venture funding.”In addition, upfront payments are only awarded “in exceptional cases,” and most payments will only be issued contingent on the completion of certain project milestones. Developers must also undergo know-your-customer checks, sign a contract, and apply with their digital wallets. However, developers are not bound by any exclusivity agreements and can also apply for other grants or VC funding. Game7 estimates that after submission, its due diligence process will take four to six weeks before a decision is issued.Game7 was created on November 18, 2021, as part of a $500 million blockchain ecosystem accelerator backed by BitDAO. Most of the funding came from its namesake decentralized treasury. At the same time, Forte, Mirana Ventures, Warner Music Group, Aleo, Avalanche, Interchain Foundation, Off-chain Labs, OP Games, Polygon Studios, Solana Ventures, and now defunct Alameda Research also participated in the seed round. 

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BitDAO launches $200M zkDAO to advance Ethereum scaling via zkSync

On Thursday, a proposal to fund decentralized autonomous organization zkDAO passed via treasury protocol BitDAO with close to 200 million votes cast. The proposal was authored by Matter Labs — the organization behind Ethereum scaling protocol zkSync — and Mirana Ventures.Utilizing zk-Rollups, zkSync and its family of technologies will build layer-2 infrastructure capable of returning succinct proofs to the Ethereum network without sending the entire data. The result, if implemented, would mean a vastly speedier network. Zero-knowledge-based solutions have attracted much attention in recent months due to recurrently high levels of congestion on Ethereum, as well as exuberant gas fees. For example, Polygon is committing $1 billion to zero-knowledge tech firms and protocols. Aside from scaling, zero-knowledge proofs can also be used to obscure transactions and enhance individual privacy, such as via the Panther protocol.As for BitDAO, it is currently one of the largest decentralized treasuries, with a balance of over $2.5 billion. In November 2021, the entity allocated $500 million to a decentralized blockchain gaming proposal. Jonathan Allen, head of Mirana Ventures and a BitDAO contributor, gave the following remarks regarding the development:“This proposal will not only benefit the collective Ethereum scaling effort but will provide tremendous value to the BitDAO ecosystem, which continues to act as a leading force across industries as it creates entirely new purpose-built DAOs that also need to scale effectively on-chain.”

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DAO treasuries surged 40X in 2021: DeepDAO

The total combined value of treasuries, or assets under management (AUM) for the use of decentralized autonomous organizations, increased by around 40 times between January and September of 2021. According to data from DAO stats platform DeepDAO, the total AUM for DAO treasuries listed on the platform increased from around $380 million in January to a peak of roughly $16 billion in mid-September. Looking ahead at 2022:✍️How far and how deep will DAOs go into the mainstream, and into which use cases?✍️(When) will DAO treasuries exceed $100B?Lots of interesting questions, but together we can BUIDL this! pic.twitter.com/JDEC9JBuHC— DeepDAO.io (@DeepDAO_io) December 30, 2021As of mid-December, the total AUM has decreased by 28.1% since the high water mark to sit at $11.5 billion, dropping a hefty $3.6 billion over the past 30 days alone. User participation in DAOs has surged as well throughout 2021, with the total DAO members and token hodlers tallying in at around 1.3 million in December, marking a 130x increase since the start of the year. DeepDAO ranks the DAOs for decentralized exchange (DEX) Uniswap, the general purpose BitDAO, and decentralized finance staking platform Lido Finance as the top three in terms of total treasury value at $2.9 billion, $2.4 billion and $602 million apiece. The Uniswap DAO has roughly 275,000 members that can vote on the project’s roadmap and maintain governance over the DEX. Uniswap has been the dominant DEX throughout 2021, pulling in more trading volume than all of the other DEXs combined according to Dune Analytics data. The Lido DAO governs its platform, and users are granted governance rights via the Ethereum-based LDO token. Lido Finance has also exploded in 2021, with the platform’s total value locked increasing from $12.5 million at the start of January to a whopping $11.68 billion in late December. According to data from DeFiLlama, Lido Finance currently sits as the sixth-highest ranked DeFi platform in terms of TVL.Related: DAO aims to raise $5M to resurrect Blockbuster VideoBitDAO is focused on supporting decentralized projects across any blockchain that are voted on by BIT token holders.The DAO has around 10,000 members and focuses on proposals relating to direct partnerships or swaps with projects, and expansion opportunities such as the launching of autonomous artist guilds, farming cooperatives and ecosystem funds. DAOs are becoming the digital native dream of the future of workA global movement that is amassing copious amount of capital and has turned into a powerful talent magnet providing alternative to big tech https://t.co/0LxGnRziYN— DeepDAO.io (@DeepDAO_io) December 28, 2021

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Universities including Berkeley, MIT, Harvard, Oxford to form EduDAO to promote Web 3 innovations, financed by BitDAO treasury

On Thursday, BitDAO, one of the world’s largest decentralized autonomous organizations with over $2.5 billion assets under management, and its partner Mirana ventures announced the creation of EduDAO with eight of the world’s top universities including University of California Berkeley, MIT, Harvard and Oxford University.EduDAO is financed by the BitDAO treasury, and will allocate $11 million in funding each year project grants, research, and standalone product development with $33 million in initial capital. The funds will go to academic research for next-generation blockchain and Web 3 technologies.EduDAO is financed by the BitDAO treasury, and will allocate $11 million in funding each year project grants, research, and standalone product development with $33 million in initial capital. The funds will go to academic research for next-generation blockchain and Web 3 technologies.Roman Ugarte and Virat Talwar, co-presidents of the Harvard Blockchain Club, said: “Placing the power of targeted funding and information distribution in the hands of a decentralized collective of students, faculty members, and alumni is a revolutionary step forward for institutions such as Harvard.”Jocelyn Weber Phipps, UC Berkeley’s Deputy Director for RDI [Responsible Decentralized Intelligence], added:UC Berkeley is honored to partner with EducationDAO and further build on our new Berkeley RDI Center’s efforts to act as a hub and platform for collaborations globally with other organizations & researchers, as exemplified in leading the first DeFi MOOC with thousands of students enrolled from 30+ countries and our non-dilutive Berkeley Blockchain Xcelerator open to teams around the world.

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