Much DAO: Open DeFi unveils DAO to support the entire ecosystem
Open DeFi’s new DAO will be community governed through a governance token.
Decentralized finance alliance, Open DeFi, has announced it will create a decentralized autonomous organization, or DAO, to support its vision for an open and global cross-chain DeFi ecosystem.
The alliance launched in late 2020 with the goal of bringing together Western and Eastern DeFi projects and has since seen some of the sector’s top projects join its ranks including as Aave, Synthetix and Balancer.
The responsibilities of the Open DeFi DAO, or OD DAO, will include launching DeFi products across multiple layer-one networks, and exploring multi-chain applications for emerging decentralized assets, including data tokens and nonfungible tokens.
The DAO will also incubate early-stage protocols and infrastructure, and seek to “generate long-term value through community-based strategies.” Open DeFi’s Marek Laskowski stated:
“The goal of Open DAO is to develop a truly integrated multi-chain DeFi ecosystem that will open up liquid markets and establish a new operating system for finance.
Coin Telegraph - 6th May 06:05