Coinshift Reports Mid-Year Platform Results and Provides Operational Update
Total Payouts on Treasury Management Platform for DAOs surpasses $100 million
- Total Assets Under Management $1.6bn
- Launched V2 of the Coinshift platform and integrated 5 new blockchains
- Oversaw $115 million in total payouts, an increase of ~255% from 2H 2021
- 2753 new safes registered on Coinshift
- Closed a $15 million Series A funding round
SHERIDAN, Wyo., Aug. 24, 2022 /PRNewswire/ -- Coinshift, a leading treasury management and infrastructure platform that enables DAOs and crypto businesses to manage cash reserves, today disclosed its mid-year platform results and provided an operational update for 1H 2022.
During the first half of 2022, Coinshift saw success across its platform, especially after the conclusion of its $15 million Series A funding round led by Tiger Global. To meet the growing need for comprehensive treasury management solutions within the expanding decentralized finance (DeFi) ecosystem, Coinshift successfully launched V2 of its platform, bringing additional secure, transparent and scalable treasury management capabilities to users. V2's new multi-chain architecture allows unified and seamless access for protocols that need to manage treasuries that are diversified over a multitude of chains.
Tarun Gupta, Founder and CEO of Coinshift, commented on the news, "We are excited to see the growth on our platform and the continued support from our investors and community. Protocols that implement Coinshift's transparent treasury management solutions gain the tools necessary to help assure users that their funds are safe and secure. We are constantly working with our clients to provide the solutions needed and are looking forward to working with them as we continue to build out Coinshift V2 and increase the overall capabilities of the platform."
DAOs are one of the most important constructs in crypto, and they will change every aspect of the economy, politics, and probably even your social life in the years ahead.1 While DAOs have unprecedented potential, certain aspects of DAO tooling including treasury management remain particularly underdeveloped for these constructs to reach their full potential. Coinshift is filling this gap by providing the industry with the most sophisticated and intuitive multichain treasury infrastructure for Web3 allowing users to manage multiple safes for multiple chains under one organization to streamline operations and enable significant time savings in treasury operations.
Increasing upon its extensive suite of management services, Coinshift expanded the number of chains that integrated its cross-chain infrastructure during 1H 2022. By offering a single easy-to-use interface, Coinshift's V2 platform significantly reduces the time that developers need to devote to managing their treasuries. The addition of these new chains enables developers with assets across multiple networks to seamlessly monitor and manage their safes, while also increasing the overall transparency of the protocol.
- Conducted a $15 million Series A funding round led by Tiger Global and joined by Alameda Ventures and Sequoia Capital India
- Expanded treasury management services onto a total of 7 chains by integrating Arbitrum, Avalanche and Gnosis Chain
- The number of safes under management increased by 780% to a total of 3106
- AUM hit an all-time high of $1.2B during June
- Assisted in the distribution of $115 million in total payouts, a 255% increase over the previous period
- Rolled out V2 of the Coinshift treasury management platform with industry-leading launch partners
Coinshift is a leading treasury management and infrastructure platform that enables DAOs and crypto businesses to manage cash reserves, general financing, and overall risk. Coinshift provides a single and easy-to-use solution that facilitates and manages treasury operations in an efficient manner. Coinshift is built on the Gnosis Safe, which allows clients to utilize its core pay-out features to manage payments, engage in collaborative multi-signature transactions, and save up to 90 percent on gas fees. We extend Gnosis Safe functionality with additional reporting features, on Ethereum and Polygon, allowing users to save time and reduce operational and gas costs.
To learn more about Coinshift, visit: https://coinshift.xyz/
Media Contact
Toby Freeman
M Group Strategic Communications (on behalf of Coinshift)
646.859.5952
[email protected]
SOURCE Coinshift
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