Synthetix announces $12 million raise led by Paradigm, Coinbase Ventures, and IOSG

The Synthetix DAO has added some new, perhaps surprising voices to its governance.

Today the synthetic asset protocol announced a $12 million dollar fundraise led by venture capital firms Paradigm, Coinbase Ventures, and IOSG. The funds purchased SNX tokens directly from the DAO treasury, and “will contribute where possible by providing liquidity in the form of SNX collateral, and also participate in its rapidly evolving community governance system,” the announcement reads.