Crypto treasury management and infrastructure platform Coinshift announced Tuesday (Aug. 2) that it has formed a partnership with decentralized crowdfunding platform EarthFund.
According to a news release, the partnership will see Coinshift help secure and manage the treasuries for all projects in the EarthFund ecosystem.
Coinshift CEO Tarun Gupta said the partnership reflects the company’s belief in the “transformative power of DAOs,” or decentralized autonomous organizations.
Read more: PYMNTS DeFi Series: Unpacking DeFi and DAO
As PYMNTS has noted, DAOs are established by central authorities, specifically, the developers that built whatever protocol they created. That could be a decentralized exchange, marketplace, lending/borrowing platform, or video game. In most decentralized finance projects, the goal is to turn control over to a DAO after launch.
“By supporting DAOs dedicated to bettering the world, EarthFund is furthering that initiative. Coinshift’s intuitive V2 platform is designed to provide DAOs with simple, transparent and secure treasury monitoring and management services, enabling these ecosystems to focus on what truly matters and scale effectively,” Gupta said.
EarthFund offers a DAO-as-a-service platform that helps philanthropic causes create decentralized communities with no need for technical know-how, thus giving charitable causes access to new sources of funding.
Adam Boalt, co-founder of EarthFund, said one of the company’s “core missions is to make crypto accessible and simple by placing a premium on user experience and usability.”
Learn more: Crypto Treasury Management Firm Coinshift Raises $15M
The company’s first cause was the Mental Health and Wellbeing group founded by Deepak Chopra, The Chopra Foundation and NeverAlone, which has amassed a crypto treasury of more than $2 million from its native token (NeverAlone) and crypto donations.
The partnership comes months after Coinshift announced it was ready to launch a new version of its platform following a $15 million Series A funding round.
Founded in 2021, the company has said it manages more than 1,000 crypto safes, $1.3 billion in assets and $80 million in payouts for organizations including Consensys, Messari, Biconomy, Uniswap, Perpetual Protocol and Balancer.
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