ConstitutionDAO Raises $40 Million

Wednesday, November 17, 2021

Quick Take

  • ConstitutionDAO raises over $40 million.

  • StarkWare releases StarkNet Alpha 4 on the Gorli testnet.

  • ConsenSys raises $200 million at $3.2 billion valuation.

  • Polygon commits $1 million to Gitcoin grants.

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ConstitutionDAO Raises $40 Million

ConstitutionDAO, a project aiming to purchase an original copy of the U.S. constitution, has raised more than $40 million from supporters. The copy of the Constitution will be auctioned through Sotheby’s. The document is one of 13 surviving copies and the only one known to be privately owned. Sotheby’s estimates the piece will sell for $15 million to $20 million.

ConstitutionDAO plans to team up with a museum or historical society to exhibit the document in a free, public setting. The exact location that will house the piece for display will be voted on by the DAO. Financial supporters of the project will not receive fractional ownership of the artifact, but rather a share of $PEOPLE governance tokens to be used for voting. ConstitutionDAO claims funds will be refunded in case the auction is lost.

StarkWare Releases StarkNet Alpha 4

StarkWare has released StarkNet Alpha 4 on the Gorli testnet. The Alpha 4 release includes a token bridge that uses the  L1 <> L2 messaging protocol which supports instant withdrawals. StarkNet is a permissionless L2 Ethereum ZK-Rollup solution developed by StarkWare.

This version of the release also introduces a change to the way contract addresses are calculated. Blocks are now identified via hash rather than Id. Contracts can also now get their own address via the new syscall. If successful, this version of the release will be deployed on ethereum mainnet by the end of November.

Consensys Raises $200 Million

ConsenSys has raised $200 million in a fresh round of funding from HSBC, Coinbase Ventures, Marshall Wace, ParaFi and Thirdpoint among others. The new round was raised at a $3.2 billion valuation. This comes after the company recently raised $65 million from Mastercard and JPMorgan earlier in April. 

ConsenSys is a blockchain technology company focused on products built for Ethereum. ConsenSys is known for its developer tool Infura and wallet browser extension MetaMask which has surpassed 21 million monthly active users. Joseph Lubin has already floated the idea of a MetaMask native $MASK token.

The company plans to use the $200 million to expand its presence in Asia, of which ConsenSys is supporting CBDC projects in Hong Kong, South Korea and Singapore. ConsenSys also plans to hire 400 new employees. The company had notably laid off 20% of its workforce in February of 2020.

Polygon Donates $1 Million to Gitcoin

Polygon has committed $1 million to Gitcoin grants in support of digital public goods. The funds will be allocated evenly across Gitcoin’s quarterly grants rounds over the next 12 months. Initially, $200k will be allocated towards Grants Round 12 which begins on December 1st. $100k will be set aside towards funding projects focused on Polygon’s layer2 solutions.

Polygon marks the fourth organization that has committed over half a million to Gitcoin, joining ENS, Badger, and the Ethereum Foundation as top contributors. Gitcoin will also be adding support for Polygon’s $MATIC token as a checkout option. Until now, Gitcoin has only supported funding through mainnet Ethereum and zkSync.

Gitcoin is a quadratic funding platform for supporting ethereum public goods such as this podcast. You can support ETH Daily on Gitcoin by visiting gitcoin.co/ethdaily and contributing to our grant.

Adidas Releases POAP NFT To App Users

Adidas has released a POAP NFT for users of its “Adidas CONFIRMED” mobile application. Adidas released an in-app notification that linked users to the POAP site where they could claim the collectible on their ethereum wallet.

There is only a supply of roughly 3k POAPs of which all have already been claimed on a first-come basis. Adidas CONFIRMED is mobile application that gives fashion enthusiasts access to exclusive collaborations and original editorial content. It marks the company’s first move towards web3 interactions.