Boardroom Raises $2.2M Seed Round for Governance Management

Boardroom – a governance management platform – has closed a $2.2M seed round led by Standard Crypto to create a cross-platform governance aggregator.


Boardroom believes that crypto networks will overtake traditional forms of management and ownership structures. It aims to provide the tooling & infrastructure necessary to scale the new ownership economy through a trusted governance dashboard by supporting protocols like Compound, yEarn Finance, Powerpool, Rarible, Yam, Aave, Balancer, and Curve.

The seed round comes with participation from VariantCoinFundIDEO CoLab VenturesFramework Ventures, and Slow Ventures along with community-based organizations and angels MetaCartel VenturesDivergenceThe LAOStani Kulechov (Aave), Kain Warwick, Jordan Momtazi (Synthetix), Tarun Chitra (Gauntlet), Spencer Noon (DTC), Bollinger Investment Group, and Free Company.

Why Boardroom?

Managing governance across multiple protocols is becoming increasingly more complex as different standards and voting frameworks are being introduced every day.  The Boardroom Hub gives users a simple way to participate across various protocols all through one dashboard, offering extensions and context on proposals to easily inform decisions and delegating voting power to trusted individuals.

Besides building tools for high-value digital stakeholders to scale their governance participation across various protocols, Boardroom also aims to serve as an aggregator of fragmented data relating to governance. The Boardroom SDK will give builders an easy way to access standardized governance data across protocols. This data can be integrated into any native UI, providing a foundation on which others can continue to build on top of.

Company Origins

Boardroom started as a hackathon project named Kora Governance, the first minimum viable version of Boardroom was launched 4 months ago. Since then, the idea has been able to greatly improve the product with the help of feedback from proven builders and industry leaders such as Stani Kulechov, Kainwarick, Tarun Chitra, MetaCartel Ventures, and more.

The Boardroom team has made it clear that their doors are open if any builders want to chat about governance systems and UX. If you’re interested in participating in giving feedback on Boardroom or otherwise engaging with the team, join their Discord here.

The raise goes to show that governance is continuing to grow in DeFi as platforms like Snapshot and Boardroom offer tools for teams to quickly plug into voting tools to better engage token communities in a simple, intuitive fashion.

To stay up with Boardroom, follow the project on Twitter.

The post Boardroom Raises $2.2M Seed Round for Governance Management appeared first on DeFi Rate.

Aave Raises $3M for Aavenomics Governance Migration

Aave – a sector-leading lending protocol – has closed a $3M round on the back of LEND tokens in lieu of their upcoming Aavenomics upgrade.

Positioning themselves as a protocol for money market creation, Aave’s latest round saw $3M worth of contributions from Three Arrows Capital and Framework Ventures when LEND was $0.10 per token. Since then, LEND has soared to over $0.25 per token ahead of an Aavenomics governance upgrade in which LEND will migrate to AAVE with a suite of new protocol incentives.

This comes in tandem with other reputable funds like ParaFi and Spencer Noon’s DTC Capital, both of which have made it public that they also hold significant positions in LEND. DeFi Rate has also received intel that many other prominent DeFi funds have been accumulating positions in LEND, giving good credence to the DeFi token‘s parabolic growth in recent weeks.

Aavenomics Teaser

The raise foreshadows the launch of Aavenomics – a governance upgrade in which the migration to AAVE will introduce new protocol incentives through staking and yield farming. In short, users will stake AAVE as insurance against protocol deficits in return for both AAVE rewards and the vast majority of protocol fees. The staking module is expected to offer both vanilla AAVE staking in tandem with an 80/20 AAVE/WETH Balancer pool. This gives flexibility for those looking to stake with just AAVE while incentivizing those to provide market liquidity to Balancer in exchange for BAL rewards and swap fees.

AAVE staking comes in tandem with yield farming rewarding from protocol usage, similar to COMP and BAL liquidity mining schemas which have driven exponential growth in recent weeks. While the details have yet to be released, we expect users to earn AAVE rewards from lending and borrowing any of Aave’s 20+ supported assets along with special liquidity incentives similar to Synthetix‘s LP rewards.

Distributed Governance

Outside of vast protocol incentives, AAVE governance will distribute key decision making to tokenholders though onchain voting. Using Aave Improvement Proposals (AIPs), AAVE holders will dictate key protocol, market and risk policies for both Aave and different money markets like the Uniswap Money Market. Aave has vocalized that its governance process is meant to stimulate large amounts of discussion before going to an onchain vote, contrary to what we’ve seen so far with Compound and it’s 48-hour window voting periods.

These upgrades will be publicized in a formal Aavenomics governance paper in the next two weeks, kicking off a countdown to Genesis Governance in which LEND tokenholders will be able to vote on the start of AAVE migration in tandem with the proposed incentive allocations mentioned above.

Credit Delegation

Last week, we covered Aave’s proposal for Credit Delegation, essentially letting any two parties enter into undercollateralized lending agreements to use a counterparties capital as collateral to draw a line of credit with aTokens. While the program is set to be largely limited to OTC trading desks and exchanges to start, Credit Delegation is another example of Aave’s continuous innovation in the vibrant DeFi sector.

Aave Continues to Shine

As if it wasn’t clear enough, Aave has solidified itself as a force to be reckoned with in the great crypto landscape. With top firms publicizing their token holdings in tandem with the upcoming Aavenomics, it’s clear that the protocol for money market creation has a very bright future lined up for the coming months.

It’ll be interesting to see how the lending wars pan out, with protocols like Aave, Compound and bZx fighting for TVL in a rapidly growing sector full of strong incentives.

If one thing is for sure, DeFi Rate plans to play a big role in Aave governance and will be introducing a formal protocol bid upon the launch of Genesis Governance in a few week’s time.

To stay up with Aave, be sure to follow them on Twitter or join the conversation on Discord.

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The post Aave Raises $3M for Aavenomics Governance Migration appeared first on DeFi Rate.