Last Week in Governance: Secret Network launches $SEFI, first private voting for on-chain governance, Biconomy raises $9M ahead of governance token launch, YGG moves toward DAO with 25M tokens sold out in 31 secs
A roundup of some of the most interesting developments in the crypto & blockchain worlds - with a special focus on DAOs & Governance - over the past seven (ish) days.
Secret Network, the “first private voting for governance built on blockchain”, launches $SEFI Governance (Tweet)
Secret Network, a privacy-enabled layer-1 blockchain that utilizes hardware and software-based privacy technologies to protect data, recently closed a $11.5M fundraise led by Arrington Capital and BlockTower Capital. They had been teasing their $SEFI mainnet launch for the past few weeks, which would be the first private voting application to be deployed on a public blockchain. On July 27, they announced via their forum that SEFI Governance was live on mainnet.
Biconomy, Mumbai-based blockchain transaction platform, has raised $9M ahead of governance token launch $BICO (Article)
The investment round was led by Mechanism Capital and Digital Asset Capital Management, with participation from Coinbase, Bain Capital, Ledgerprime and others. The company is gearing up to launch its native token, $BICO, as part of decentralising its multi-chain infrastructure. The native token, scheduled for release later this year, will secure the network, enable community governance and incentivise all stakeholders. Biconomy is currently integrated with more than 30 applications across five different blockchains.
Yield Guild Games’ $12.5M Token Sale Sells Out in 31 seconds (Article)
Decentralized gaming startup Yield Guild Games (YGG) sold all 25 million of its native tokens in 31 seconds. According to their blog post on Wednesday, they raised nearly $12.5 million in Circle’s USDC. The sale was held via MISO on SushiSwap. According to the blog, “the launch of the YGG DAO is now officially underway. One of the first tasks of the DAO will be distributing tokens to the YGG community as a way of rewarding their early participation in the guild. It will also serve to properly onboard them as DAO members.”
Breaking down how DAOs are organized & run (Article)
Last week ShapeShift announced its plan of transitioning from a traditional corporate governance structure to a decentralized autonomous organization. Bitcoin KE further digs into what this means in terms of their implementation - from smart contracts, to funding & deployment.
Governance and Supply Chain use cases for blockchain from PwC Blockchain Lead (Article)
In this interview with Husen Kapasi, European Blockchain Lead at PwC, Kapasi discusses the potential of blockchain technology when it comes to future supply chains. “Governance is how platforms and ecosystems are designed. Supply chain governance helps shape the ecosystem and blockchain governance is key in shaping the platform,” he said. “Then there is blockchain governance itself. How do you shape it? Where are the nodes, who operates the nodes, who owns the nodes? What will the consensus mechanism look like and so on…”
Popular NFT Blockchain Game, Splinterlands, secures $3.6M via Private Token Sale (Article)