TechFlow news — On August 1, according to CoinDesk, MetaDAO, a governance experiment built on Solana, has raised $2.2 million in a funding round led by venture capital giant Paradigm.
MetaDAO aims to build governance structures through market forces rather than voting—a model known as "futarchy." With the 2024 elections approaching, prediction markets are gaining increasing traction. Market leader Polymarket currently holds nearly $90 million in open interest. Supporters argue that market participants can make better decisions than politicians.
According to Proph3t, MetaDAO's anonymous founder, Paradigm will hold 3,035 META tokens, becoming the largest single holder of META, representing 14.6% of the total supply. Approximately 30 angel investors purchased another 965 META tokens, bringing the total fundraising amount to $2,229,950.
