karpatkey

We’re excited to share that karpatkey has successfully closed a?$7M seed round?with the backing of over 40 investors, including?industry leaders like Joseph Lubin (ConsenSys)?and?Stani Kulechov (Aave), alongside institutional supporters such as?AppWorks?and?Wintermute?Ventures. Founded in 2020 to manage the Gnosis treasury, karpatkey now delivers a range of complex financial solutions to many of the most successful organisations in crypto, including Aave, Balancer, CoW, ENS, Lido, and Safe. As an active manager of treasury assets, karpatkey is heavily involved in protocol governance, working on various strategic initiatives with partners. The karpatkey treasury network has grown to over 1.8 billion USD in assets and its risk management infrastructure has been used to execute over 10,000 onchain transactions for partners without incident. Marcelo Ruiz de Olano, co-founder of karpatkey, noted,?“We are thrilled to see such overwhelming support from our investors, including many of our existing partners. Their trust in karpatkey’s vision reflects the quality of our solutions and our focus on building long-term relationships with the DAOs we serve.” karpatkey will also expand its solutions beyond DAOs, targeting traditional financial institutions. Beginning with actively managed open-ended funds, karpatkey will offer institutional investors exposure to blue chip DeFi tokens and yield by leveraging its existing infrastructure at extremely competitive prices. Read more about our plans in the full blog post: https://bit.ly/3C4V88n

At karpatkey, security is more than a priority, it’s the core of everything we do. With over 10,000 non-custodial transactions completed and zero funds lost, we’re proud to help DAOs thrive safely and sustainably. We’re thrilled to share our latest milestone: a token-for-equity deal with Hypernative, a leader in real-time Web3 security solutions. This partnership isn’t just about enhancing security, it’s about setting a new standard for how DAOs and corporations can work together to drive innovation and adoption. Hypernative’s advanced risk monitoring has already helped us safeguard treasury positions for our DAOs. Now, through this mutual investment, we’re taking our collaboration to the next level, bridging the gap between traditional equity and onchain tokens to unlock new possibilities. Learn more in our latest blog: https://lnkd.in/ghhwcYqR

?? Growing the Gnosis Ecosystem: karpatkey’s July–October 2024 Report We’re excited to share highlights from the past quarter, where we’ve supported Gnosis in advancing the Gnosis Chain ecosystem through impactful collaborations and key initiatives: 1?? Ecosystem Developments This quarter, we’ve worked with trusted partners to expand Gnosis Chain’s deployments and integrations: ?ParaSwap: A leading DEX aggregator now on Gnosis Chain, enabling seamless trading with the best rates ?Hyperdrive: An AMM protocol offering flexible fixed and variable interest rates for users ?StakeWise V3: Unlocking staking for?GNO, enabling users to mint?osGNO?via permissionless ‘Vaults’ with enhanced rewards and customisable terms ?Buenbit: Gnosis Chain integration enables?xDAI?deposits and withdrawals, bridging traditional and decentralised finance 2?? Gnosis Pay Cashback Rewards Programme To drive Gnosis Pay adoption, we helped launch and manage a cashback programme designed to reward GNO holders: ?Tiered cashback rewards from?1% to 4%?based on GNO deposits in Safe wallets ?An extra?1% cashback?for GnosisPay OG NFT holders ?Cashback applies to payments made with Gnosis Pay cards (ATM withdrawals excluded) Gnosis Chain is going from strength to strength, continuing to iterate on one of the most secure, liquid and thriving ecosystems across the whole industry. karpatkey’s recent initiatives are aimed squarely at helping to encourage adoption, innovation and usability. The future of the Gnosis ecosystem is bright! ?? ???Read the full report here:?https://lnkd.in/eCcZ_E7h

We had the opportunity to attend Devcon Bangkok 2024, a four-day Ethereum conference showcasing innovation and collaboration across the Web3 ecosystem. ???? With 13 karpatkey attendees, we made the most of every chance to build relationships and gain valuable insights This year marked our highest participation in talks and panels, reinforcing our position as thought leaders in the space. ?? Key Highlights: ? Our largest-ever presence: 13 karpatkey attendees, numerous panels, and talks positioning us as thought leaders. ? We had productive meetings with key players of the Web3 ecosystem. ? We attended 20+ side events during the Devcon week which helped in strengthening partnerships and explore new opportunities. ? Hosted the 4th edition of the karpatkey Cocktail with 51 attendees from ENS DAO, Balancer, Aura Finance, Wintermute, and other leading organisations. From insightful discussions to strategic collaborations, Devcon Bangkok was a success! Shoutout to our amazing team and everyone we connected with. ?? ?? Sharing a snapshot from our team dinner.

A must-read for anyone navigating DAO governance and DeFi treasury strategies: https://lnkd.in/gkWFupRd

In partnership with ENS DAO, we developed an Investment Policy Statement (IPS), which has recently been approved on Snapshot. This IPS serves as a strategic guide for effective governance of a DAO’s treasury, ensuring sustainability and long-term growth. It clearly defines the roles of everyone involved, from the Endowment Manager to the DAO itself, promoting transparency and accountability at every level. So, what does this IPS mean for the future of ENS? 1?? A Framework for Stability DAOs are dynamic, fast-evolving ecosystems where multiple stakeholders, a range of service providers, and shifting priorities can create confusion. To bring clarity and direction, we worked closely with the ENS community to create an IPS that’s more than just a set of guidelines. It’s a ‘north star’ that guides us through the complexities of treasury management, ensuring every investment decision aligns with ENS’s mission to support public goods and strengthen the Ethereum ecosystem. 2?? Sustainable Financial Growth With the adoption of the IPS, ENS DAO reiterates its commitment to ensuring that the DAO financially self-sustainable. Over time, the Endowment funds core operations such as Labs, Working Groups, and Streams without using the main assets. But to achieve this vision of financial independence, the DAO needs to have right strategy. 3?? Asset Allocation: 60% ETH, 40% Stablecoins The strategy introduces a 60/40 asset allocation: 60% ETH, 40% stablecoins. It includes biweekly rebalancing, moving 1,000 ETH tranches to maintain this ratio, while ensuring at least three years of runway in stablecoins. This approach provides stability, protects against market volatility, and empowers ENS DAO to navigate market shifts without compromising its mission. 4?? Values-Based Risk Management The IPS reflects ENS DAO’s strong commitment to decentralisation and security by excluding speculative trading, prioritising blue-chip DeFi protocols, avoiding centralised exchanges, and limiting exposure to permissioned providers. Managing risk is our top priority. We monitor market, liquidity, smart contract, and operational risks to ensure the Endowment is deployed in safe, reliable venues, with ETH considered as low-risk asset, reflecting ENS DAO’s commitment to its ecosystem. Liquidity is also prioritised, with at least three years of runway in stablecoins, allowing ENS to operate smoothly without selling core assets like ETH. 5?? Transparency and Regular updates karpatkey supports ENS with real-time risk monitoring, weekly MetaGov updates, monthly performance reports, and annual reviews, ensuring that our strategy remains adaptive and evolves with both market and community goals. Thank you to everyone in the ENS community who contributed to this vision. We’re not just securing ENS’s future, our mission is to help it strengthen and grow. Check out the IPS for yourself, to see how we plan to achieve this: https://lnkd.in/gdGT_Qra

Introducing the karpatkey Governance Newsletter! Our latest channel to keep you informed; delivering monthly updates on DAO governance, strategic insights into leading DeFi protocols, and success stories from across the industry. This month, we highlight our new role managing the dYdX Treasury subDAO, the SafeBoost initiative, an innovative new Aave credit line arrangement for Gnosis , and much, much more. Let’s dive in! ????

We’re excited to announce that our proposal to establish a new dYdX Treasury subDAO has passed on Mintscan! By aligning fees with growth, managing over $1B in non-custodial AUM and the total value of our partner treasuries exceeding $2.1B, and staking 40M DYDX to generate 4.8M USDC annually, we aim to diversify and solidify dYdX's treasury, setting a strong foundation for long-term sustainability and ecosystem expansion. Thank you to everyone in the dYdX community that supported our proposal—stay tuned for our next steps!

Crypto can at times feel like a dark forest -- you never know what predators are watching your onchain activity from the shadows. When you manage $2.6 billion in treasury assets for leading DAOs including Gnosis, Aave, Balancer, and ENS, the stakes are high. That's why karpatkey is one of the most sophisticated users of the Hypernative Platform. Here is Petros G. Sideris, engineering manager at Karpatkey, on how they use Hypernative to protect their clients' funds. Learn how to bulletproof your Web3 defenses with custom agents, watchlists, and automated actions: https://buff.ly/3MPgCbx

We’ll be attending ##Mainnet2024?in NYC from Sept 30 - Oct 2! This year, our Head of Institutional, Ruca Sousa Marques, will be sharing how karpatkey is leveraging its on-chain asset management expertise to build an actively managed, open-end investment fund for institutional investors. Mark your calendar: ??? October 1st, 11:00 AM (GMT-4) ??Pier 36, NY We’re bridging the gap between TradFi and DeFi. Interested in connecting? Drop us a DM!