TechFlow News — OpenChat, a decentralized messaging application built on the DFINITY Internet Computer, raised over $5.5 million in a crowdfunding sale last week.
The recent token sale had 2,375 participants who were able to purchase OpenChat’s native governance token CHAT, forming a DAO. Following this token sale, the OpenChat team stated that the on-chain messaging platform will now be owned and governed by its token holder community rather than a centralized tech company.
The team said that the new funds raised through the token “decentralization sale” will be held in OpenChat’s DAO Treasury, with token holders deciding how best to use them. The platform will allow users to directly vote on new proposals for upgrades, features, and treasury fund allocations via the Service Nervous System (SNS), the governance system model used on the Internet Computer.Original link
