Shutter DAO Adopts Fractal's Innovative Solutions for Secure DAO Governance
MIAMI, March 18, 2024 /PRNewswire-PRWeb/ -- Fractal, the leading modular governance platform for onchain organizations to progressively decentralize, announces the onboarding of Shutter DAO 0x36, a community-launched decentralized autonomous organization for Shutter Network, a protocol combating frontrunning/malicious MEV utilizing threshold encryption.
As the flagship project of Decent DAO, Fractal empowers users to manage their DAO's governance and treasuries with unparalleled safety and scalability. By leveraging Safe for treasury security, Fractal helps teams go from a multisig or Snapshot to fully onchain governance by offering composable tools, integrations, and workflows to decentralize without compromising on speed of execution.
Shutter DAO's adoption of Fractal was instrumental in a recent governance vote, which focused on the launch of its native governance token and DAO. Shutter will utilize onchain executable proposals through the Fractal framework. Shutter DAO 0x36 used Fractal to set custom governance parameters across voting strategy, quorum, voting period length, and execution time.
Leveraging Fractal's secure infrastructure built on the multisig Safe standard, Shutter DAO 0x36 voted to launch its governance token via a liquidity bootstrapping pool on Fjord Foundry to raise funds, resulting in a fully diluted value (at time of publication) of approximately $250 million.
Luis Bezzenberger, Product Manager for Shutter at brainbot, the core developer team of Shutter shared, "We proposed the blueprint and use of Fractal to the community and are excited to see Shutter DAO 0x36 committed to decentralization and focusing on community participation. By utilizing Fractal's onchain governance voting system, Shutter DAO 0x36 is well-positioned to maintain its growth and innovative trajectory. The community's decision to select Fractal to manage the governance and treasury is a testament to their dedication to ensuring secure, reliable, and easily implementable standards."
"We're thrilled to see Shutter DAO 0x36 choose Fractal to help empower their DAO with seamless governance and treasury management solutions," said Thomas Stuart, CEO of Fractal. "By providing a safe, scalable, and modular platform, Fractal enables important projects like Shutter DAO 0x36 to prioritize community involvement and operational reliability while embracing the principles of decentralization."
For media inquiries, please contact Jonathan Duran at (310) 260-7901 or Jonathan(at)MelrosePR(dot)com
About Decent DAO
Fractal is part of Decent DAO, an EVM-compatible platform that enables tokenized smart contract protocols to progressively decentralize governance and operations. Decent helps teams go from a multisig or Snapshot to fully modular, onchain governance by offering composable tools, integrations, and workflows that support decentralization without compromising on execution. Decent DAO is supported by the Decent Foundation and backed by investors and partners including BlockTower Capital, GSR, Cumberland DRW, and 1kx.
Learn more at http://www.decent-dao.org, on X @decentdao, and Farcaster /decentdao
About Shutter & Shutter DAO 0x36
Shutter employs threshold encryption with a Distributed Key Generation (DKG) mechanism to achieve base layer neutrality, information symmetry, and accessibility. Shutter has developed a protocol to prevent malicious MEV on the Ethereum ecosystem using threshold encryption-based Distributed Key Generation (DKG). The same protocol is also used in other applications, such as providing shielded voting for voting systems. The free, open-source software protocol has been initially developed by brainbot, which has been involved in Ethereum since March 2014.
Shutter DAO 0x36 is a community deployed DAO that follows the blueprint proposed by brainbot. As a real decentralized autonomous organization, Shutter DAO 0x36 indeed relies on the community to make proposals and vote on them!
Media Contact
Jonathan Duran, Melrose PR, 3102607901, [email protected], https://www.melrosepr.com/
SOURCE Decent DAO
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