GnosisDAO approves Karpatkey’s spin-off to become independent entity with KPK token
GnosisDAO voted to spin off Karpatkey as an independent entity. Karpatkey has been a part of GnosisDAO since 2021.
GnosisDAO voted to spin off DAO treasury risk manager Karpatkey as an independent entity, which will now operate under its own management and utilize its own KPK governance token.
Karpatkey has been a part of GnosisDAO since 2021 and in this time it has successfully executed over 7000 DeFi transactions, managing more than $2.6 billion in treasuries without any losses or hacks, according to the DAO.
Karpatkey provides treasury and risk management solutions, on-chain financial services, and support for DAO business development initiatives. It has worked with high-profile clients in the crypto space, such as Aave, Uniswap, ENS, and MakerDAO, among others.
The proposal to spin-off Karpatkey into its own DAO was first made in February, which was now approved via an on-chain vote.
As an independent entity, Karpatkey plans to broaden its business beyond traditional Web3 services, including launching a low-cost, non-custodial, actively managed open-end fund aimed at institutional investors.
With the project forming its own DAO, KPK token holders would influence treasury management strategies.
The spin-off is also part of Gnosis GNO +0.98% ’ broader strategy to support the development of blockchain applications and improve the Web3 ecosystem.
Gnosis DAO oversees the Gnosis Chain , a sidechain running parallel to Ethereum, and the CoW Protocol, a decentralized exchange. Previously, Safe and CoW Swap also spun off from Gnosis into its their own DAOs.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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