Common, a Decentralized Autonomous Organizations (DAOs) cross-functional governance and community management platform, has raised 20 million USD in a fresh investment round. Commonwealth, as it is officially named, provides users with a comprehensive platform for creating, managing, and governing on-chain communities.
The company intends to use the additional funds to improve the platform’s end-to-end functionality as well as carry out its decentralization strategy. With the launch of the company’s currency, $CMN, in the next months, the decentralization plan will take off.
The project stakeholders will be able to use this governance token to effectively control protocol, drive relevant conversations, make financing decisions, and moderate the platform. Following its launch, this token is expected to take over governance on the Common DAO and Common platform.