DeSo Foundation, a blockchain developer, has raised $200 million to launch DAODAO, an app for fundraisers. With this app, users can invest bitcoin, Ethereum, Solana or fiat currency into founders before their pitches go out to venture capitalists, according to a press release.
The app automatically converts cryptocurrency into dollars, and founders can give contributors a liquid token which they can then trade on DeSo’s exchange.
“DeSo is the only blockchain that could support something like DAODAO today,” Arash Ghaemi, growth marketing lead at DeSo, said in the release. “DeSo’s recent USDC integration and the use of MegaSwap to convert crypto into USD were both critical, and no other chain has both. On top of that, DeSo’s order-book exchange is the fastest in the world, capable of performing 40,000 matches per second.”