Muse Strategic Funding
We are excited to announced that we successfully diversified part of the MUSE treasury into $750k DAI based on this governance vote
DeFiance Capital and Stake Capital have joined NFT20 and MUSE as strategic investors, supporting the core team and community with valuable experience and resources as we continue to develop liquidity and DeFi solutions for NFTs.
Defiance Capital— founded by Arthur Cheong (@Arthur_0x) is a leading DeFi focused Cryptoasset Fund combining fundamental research and active involvement strategy.
Stake Capital — Founded by Julien Bouteloup (also member of Blackpool DAO and StakeDAO) provides financial instruments and services on top of the leading DeFi and staking networks.
DeFiance believes that NFTs are an improvement in asset ownership and will continue to see exponential growth.
We are proud to support NFT20 in their vision to offer increased utility for NFTs and integrate NFTs into the broader DeFi ecosystem. We respect the team’s strong ability to ship product and openness with their development process. — Arthur Cheong
The new resources available for the DAO are already put in use:
- Creating more ambitious products at the intersection of DeFi and NFTs.
- Re-structuring how development and operation is done to enable builders hop in and off the DAO more easily.
- Shaping our brand and spreading the word of our product.
- Integrating the protocol with 3rd parties.
Terms of the deal
Both parties agreed to buy MUSE from the DAO at spot price at the time of the deal.
Due to par of the DAO funds being vested, Adam and Jules (core developers) lent the DAO a total of 4837 MUSE. They will be paid back from the DAO as the funds are released from vesting.