Jigstack Completes $3M Private and Public Sale to Build the DAO of DeFi
April 29, 2021
Jigstack has completed its private and public funding rounds. By raising $3 million, the team can continue building the ecosystem and the various decentralized products and services. The oversubscription of its private rounds confirms the broader interest in how Jigstack will transform the decentralized finance world.
The private round included prominent investors such as Block FIlms, Moonwhale Ventures, Exnetwork, DHC Capital, Blocksync Ventures, Gains, CSP DAO and X21 Digital. The private rounds were oversubscribed, confirming the global interest in this ecosystem. Consequently, the public salewhere $300,000 was raised completed relatively quickly. Such overwhelming demand for exposure to Jigstack’s STAK token indicates investors are keen on exploring the governance and revenue-generating potential of this new asset.
As a decentralized autonomous organization governing multiple revenue-generating protocols, Jigstack has a bold vision for the decentralized finance industry. Rather than focusing on greed, inefficiency and incompetence, the team introduces an ecosystem where quality standardization takes center stage. To achieve that vision, the tools and protocols must empower users, and DeFi needs to be for the people, by the people.
Multiple revenue products and protocols exist under the Jigstack banner. Tools include Lemonadea multi-platform token sale launchpad, Stakbank a staking- and rewards-oriented platform for the STAK token and Ethlink a decentralized affiliate marketing solution. Other protocols in development include crypto gifting platform Santa, cross-chain bridge JigBridge and high-end collectibles and art NFT marketplace ‘Gallery.’
All of these tools bring value to Jigstack’s STAK token, which receives a share of all transaction fees occurring via these protocols. Additionally, STAK holders govern the Jigstack DAO and all of its products. Jigstack paves the road for broader mainstream adoption of DeFi, with a strong focus on quality assurance and interoperability.
Paul Man of Bonded Finance said,
“The grab was the metaphorical ‘Microsoft of DeFi,’ intending to do for DeFi and crypto what Microsoft did for personal computing. It’s needed and it’s a natural evolutionary curve. But the light bulb moment for us was the concept of a well-organized DAO and the value potential of a single alpha coin governing an entire suite of decentralized financial tools. It’s basically an index play on the DeFi sector with a growth compounder.”
In the current landscape, decentralized finance primarily focuses on enriching the developer teams rather than empowering users. This creates a top-down approach rather than a level playing field for all participants. Jigstack’s vision is to create equal opportunities for all parties involved. More importantly, everything will be governed via the DAO, empowering token holders to help shape the future of this ecosystem.
Robert Weir of Jigstack said,
“Decentralized finance and decentralized governance are two of the most promising concepts in modern economics. We couldn’t just sit on the sidelines and watch such an important endeavor compromised by vulnerabilities I thought could be well mitigated. With Jigstack, we bring a new standard of quality, security and user-friendly, solution-oriented financial tools. It is my firm belief that adherence to these simple disciplines could be the catalyst for mainstream adoption.”
Jigstack is a decentralized DAO engineering and deploying institutional grade decentralized tools, fit for any user. Its purpose is to govern a range of high-quality, revenue-generating network solutions on the Ethereum blockchain to help foster an equitable and open, free market.
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