Blockchain software tech provider company Consensys revealed its 2022 progress report. Major highlights of the report included its closing of financing round worth $450 million, achievement of $7 billion valuations, and the growth of its products and services.
In a recent funding round, Ethereum’s production studio Consensys raised a total of $450 million of investment. As per the reports, the funding round was led by blockchain and defi capital venture ParaFi Capital, which was also participated by Temasek, Japanese multinational bank’s fund division SoftBank Vision Fund 2, Anthos Capital, Sound and C Ventures.
One of the most popular products, ConsenSys’ non-custodial crypto wallet MetaMask has seen an increase of 42% in its monthly active users count in four months. Metric stated a total of 30 million users and suggests it still attracted more from DeFi and NFT sectors.
The United States remains one of the most crypto-occupied countries in the American region. At the same time, Brazil, Germany, the Philippines, and Nigeria are the countries that occupied their positions in their respective areas.
The recent funding will increase the production studio’s position in the Ethereum network. In the long term, the company has been a bull of ETH, and now its funds for producing interest yield via different DeFi protocols and staking mechanisms of them.
On top of that, ConsenSys announced the creation of DAO, a decentralized autonomous organization, and the launch of a MetaMask native token. However, users showed a mixed response after the announcement. The reason for this, as reports show, is the accidental blocking of Venezuelan users by Infura, the Ethereum infrastructure provider.
After such incidents, the community got skeptical and started discussing alternative services that are less vulnerable to single failure points. MetaMaskDAO and its governance token creation seem to address the same issue.
As per ConsenSys, MetaMask is moving towards a kind of progressive decentralization. Users already began discussing incentives, yield interest farming, the ticker of the token, and potential incentives. However, the complete details about the governance model and its new token have not been entirely provided.
CEO of ConsenSys, Joseph Lubin, emphasized the company’s capabilities to capitalize on distinct trends like DeFi protocols, wallets, bridges, NFTs, token launches, and many more. Further, Joseph said that the view has synced with their crypto itself and growth investors in a Series D, enabling them to operate powerful strategies. The recent round took in digital assets and fiat and converted immediately to ETH.
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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2022/03/16/consensys-raised-450m-to-increase-position-on-ethereum-and-metamask-upgrade/