GnosisDAO, the community behind the fully EVM-compatible layer 1 Gnosis Chain, has voted to spin off karpatkey, leaders in Web3 treasury management, as a stand-alone entity. karpatkey will be managed by the KPK token. The primary goal of the KPK token is to align parties actively contributing to the delivery of karpatkey's mission. Its full supply will be 1 million KPK.
Since its launch within GnosisDAO in 2021, karpatkey has executed over 7000 DeFi interactions for its partners, and currently manages over $2.6 billion USD in treasuries with zero funds lost or hacked. In addition to treasury management solutions, karpatkey also provides risk management infrastructure, on-chain financial services, and supports DAO business development initiatives.
karpatkey’s clients include the top names in crypto such as Aave, Uniswap, ENS, Balancer, GnosisDAO, CoW, Lido, MakerDAO, Safe, and Arbitrum, among others. As karpatkey’s network of leading DAOs has grown, so has their ability to manage joint liquidity, reduce portfolio risk, and support partner growth initiatives.
Commenting on the vote, Marcelo Ruiz de Olano, Co-founder of karpatkey said, “As traditional finance incorporates digital assets on-chain, managing financial resources by DeFi protocols becomes crucial to optimise token holder value and ensure the capital required for a stable, resilient, and innovative ecosystem. Since our inception, karpatkey has demonstrated exceptional resilience in the face of adversarial EVM environments and market volatility, and our recent significant milestones have indicated readiness for operation as a standalone entity. This next step will enable greater scalability, providing the opportunity for enhanced focus on core operations and driving growth.”
Martin Koppelman, Co-Founder of Gnosis, added, “Gnosis is committed to accelerating the development of industry-critical projects that support our mission, and we embarked on the development of karpatkey in response to the real-world treasury needs of the project. This is in line with Gnosis 3.0, where we are helping crypto builders harness blockchain technology for real-world application at a global scale.”
As an independent entity, karpatkey will also expand its footprint outside of its traditional Web3 business, with plans to launch a low-cost, non-custodial, actively managed open-end fund for institutional investors. karpatkey will also leverage its existing solution infrastructure and knowledge of on-chain finance to provide institutional access to DeFi protocols and yields, bringing more long-term investors into crypto.
The move to establish karpatkey as its own entity mirrors the success of other Gnosis projects including SafeDAO and CowDAO, underscoring Gnosis’ role in incubating promising projects from the point of inception to market-leading independent entities, and strengthening and expanding the broader DeFi ecosystem.
