202225 May

Common moves to decentralize community management platform for DAOs, raises $20M

Summary

Common, a cross-functional governance and community management platform for decentralized autonomous organizations (DAOs), yesterday announced it raised $20 million in a new funding round. We work to reduce this pain point for the token communities, becoming the one place where they can discuss, vote on and fund projects together in a seamless way, said Chen in the companys press release.Traditional organizational structures have been experiencing significant levels of disruption since the dawn of DAOs. By owning these tokens (which are native to the project), Gartner says users can participate in voting decisions as project shareholders.On governance platforms like Common, varying DAO tokens like Uniswap, Aave, Dash, Curve DAO, among others, are used to control protocol but this new funding is designed to change that, said Chen in an interview with Venturebeat.Common plans to leverage this additional capital in expanding the end-to-end functionality of the platform, as well as executing its decentralization plan. This governance token will allow the project stakeholders to control protocol, drive relevant conversations, make funding decisions and moderate the platform effectively. These users will also have access to forums native to the blockchains digital currency; this will allow them to associate with a like-minded network and deliberate on new ideas.Common will also be launching its optimized crowdfunding functionality on June 1.

Source: Venturebeat

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