Tally, a leader in governance tools in the chain, has assured $ 8 million in series funds aimed at expanding its government technology to more cryptographic decentralized organizations (DAO).
Tally is better known for the Tally protocol, which drives the infrastructure to help leading protocols to carry out effective governance in the chain of their DAO, including the arbitration, UNISWAP Dao, Zksync, Wormhole, Eigenlayer, Obol and Hyperlane.
“We have built this complete software battery to operate these organizations in the chain,” said Dennison Bertram, CEO and co -founder of Tally Protocol, in an interview with Caindeesk. “We can take him from his idea to launch his token, to distribute his membership or property, until the accumulation of value for his protocol.”
The platform began as a DAO governance tool and has become the most widely adopted software stack for chain organizations throughout Ethereum and Solana Blockchains, he said in a statement.
“Governance in the chain and capital formation could, in theory, drastically reduce the complexity and cost of training and operation of organizations by transferring these processes completely to software instead of traditional jurisdictions guided by platforms like Tally,” Bertram said.
One day, organizations in the chain could be seen as a way of competing with the national states, he argued, referring to the expensive and intensive process of registration of foundations and other legal entities typically used for cryptography.
“Who hugs the cryptographic could really be completely adopting the future,” he said.
Fixing voting participation for a better government
A topic that Tally aims to address with the financing of Serie A is the low participation of voters and apathy in the Dao government, which has led to sometimes controversial results.
Last year, for example, a group of compound compound tokens holders, called Golden Boys, successfully approved a controversial proposal to create a performance with performance called Goldcomp.
Despite the initial creation of the traction, the proposal faced a significant controversy due to the perceived irregularities, the low participation of the voters and the lack of generalized community commitment.
Ultimately, the Golden Boys agreed to cancel Goldcomp, which highlighted the widest issue of governance apathy within DAO instead of any technical exploit or malicious intention.
“Many of the people you should expect to vote ‘no’ in something like this did not appear,” Bertram said in a previous interview. “What it shows is that the democratic process of governing a DAO is imperfect and needs an improvement.”
To address this, Tally has developed rethinking mechanisms designed to economically reward the participants of active governance. Users can rethink their government tokens to receive Liquidation Tokens (TLST) from Tally Liquid (TLST), gaining passive yields and automatically compounds while retaining voting rights within damage.
“This collection of funds is really about relying on the original vision,” said Bertram. “Now that we have shown that this works, that you can have these great organizations, it is time to really climb it.”
Institutions are getting involved in damage
Bertram also emphasized that recent regulatory clarity and changes in attitude towards cryptographic governance in the United States have opened the door to greater institutional participation in damage.
“With this clarity, we will have much more participation, not necessarily of the average tokens headlines, but on large organizations that depend on the infrastructure in which they are building,” he said. “These organizations will need and want the ability to govern the infrastructure in which they operate.”
Ultimately, Bertram sees Tally’s role as fundamental in the advancement of decentralized governance and unlocking of greater economic value for tokens holders by directly rewarding active and informed participants.
“Given the new acceptance of cryptography as a key driver of future value in the United States, it is time to climb it beyond cryptography and turn it into a primitive nucleus to create new organizations,” he said.
The round was directed by AppWorks and Blockchain capital with the participation of Bitgo, among others.
Tally previously raised $ 7.5 million in 2021 in two rounds of financing.
