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Tracy Wang
Tracy is a deputy managing editor at CoinDesk. It possesses btc, eth, mina, ens, miscellaneous stablecoins, and a few nfts.
Den, a multi-signature wallet startup, has closed $2.8 million in seed funding led by IDEO CoLab Ventures.
Other notable participants in the round included Gnosis, an Ethereum-based project that offers infrastructure and tooling to on-chain users, including its popular multi-signature wallet Safe (formerly Gnosis Safe). Den refused to divulge the complete assessment.
"We rely on secure contracts, which currently holds around 5 percent of all cryptocurrencies," said jonah erlich, co-founder of den. Den is also a guardian of SafeDAO, the decentralized autonomous organization that manages Safe, and Erlich and his co-founder Ittai Svidler are delegates of SafeDAO.
We rely on Safe contracts, which currently owns approximately 5% of all cryptocurrencies," said Jonah Erlich, co-founder of Den. This includes the resolution of coordination issues where multiple signature portfolios are involved, that often require nine out of thirteen or five out of seven designated signatories to approve a translation before being able to run on a blockchain. Getting started also means creating tools that make it easier for teams to initiate a transaction and understand what happens when transferring a token.
'We have created robots that send repeat notifications to automate the coordination process,' said erlich. 'Coordination is in fact the most frequently mentioned issue. We have set up robots that send repeat notifications to automate the coordination process," said Erlich.
Erlich and Svidler, both core contributors of the viral hit ConstitutionDAO, experienced the coordination problem firsthand when ConstitutionDAO put in a bid to buy a copy of the U.S. Constitution from Sotheby’s in November 2021. Sounds like an ordinary thing, That's not it." Erlich and Svidler, the two most important contributors to the viral coup constitutiondao, directly experienced the coordination issue when the Constitution tried to purchase a copy of the U.S. Constitution at sotheby's in November 2021.
"We needed nine out of thirteen signatures," said Svidler, who described ConstitutionDAO’s signatories as "high-profile crypto celebrities" who were "busy people."
"I had to run around New York City coffee shops and send Instagram DMs to get a hold of signers," Svidler told CoinDesk. "Nine out of 13 signatures were needed," said Svidler, That described the signatories of the Constitution as "Leading crypto celebrities" that were "busy people."" I had to run into the cafes in New York and send Instagram DMS to get my hands on signatories," Svidler said coindesk."
Nine out of 13 signatures were needed," said Svidler, Describing the signatories to the DAOConstitution as "elite crypto celebrities" who were "busy people." I had to run to the cafes in New York and send out Instagram DMs to get my hands on signatories," Svidler says CoinDesk. Svidler looks forward to simplifying the process for future organisations.
To date, the current den user list includes ethereum lido, non-fungible token collective pleasrdao, and olympusdao, a decentralized financial protocol, among others. "We really focus on serving the line's teams, regardless of the form in which they enter," says Svidler."
Read more: What Is a Multisig Wallet?
