Pantera Capital Resumes On-Chain Governance Voting Participation, Arbitrum First
Capital returns to active on-chain governance participation, beginning with Arbitrum DAO. Unravel Pantera’s Panterastrategic move and its implications for the DeFi ecosystem
Pantera Capital, a prominent blockchain investment firm, has announced its return to active participation in on-chain governance. The firm has chosen to begin this new chapter with the Arbitrum DAO, a decision that not only reflects Pantera’s historical ties to the project but also shows Arbitrum’s growing importance in the Ethereum ecosystem.
Pantera Capital’s Return To On-Chain Governance
Pantera Capital, a leading blockchain investment firm, has announced its return to active participation in on-chain governance, with Arbitrum DAO as its starting point. This move signals a significant re-engagement with the decentralized finance (DeFi) ecosystem for Pantera, underlining the firm’s commitment to shaping the future of blockchain technology
The choice to begin with Arbitrum is not coincidental. Pantera Capital has a longstanding relationship with the project, having led the seed round for Offchain Labs, the core developers behind Arbitrum, in 2018. By joining the ranks of over 400,000 ARB token holders and 250,000 delegates, Pantera is positioning itself as an active participant in one of the most vibrant and decentralized DAOs in the Web3 space.
Pantera Capital’s approach to ecosystem participation is multifaceted, focusing on six key areas: long-term growth strategies, economic sustainability, user security enhancements, transparency and accountability, technological innovation, and research-backed insights for informed decision-making.
The timing of this announcement is particularly noteworthy, as it coincides with a critical period for the Arbitrum ecosystem. The project is currently navigating various initiatives, including the launch of new innovations like Stylus, BOLD, and Timeboost, exploring new markets through Orbit Chain launches and a Gaming Catalyze Program.
Also they are implementing economic adjustments such as ARB staking and gas fee modifications. Pantera Capital emphasized the crucial role of on-chain governance in maintaining and advancing the blockchain ecosystem. The firm also hinted at future participation in other blockchain projects, promising to share more details soon.
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Pantera’s Recent Investments and Partnerships
Prior to this announcement, Pantera Capital made significant moves in the blockchain space. The firm made its largest-ever investment in The Open Network (TON), the blockchain network developed by Telegram, demonstrating strong confidence in the technology’s future. Dan Morehead, Pantera’s founder and managing partner, highlighted this as a crucial strategic move for the firm.
Capital returns to active on-chain governance participation, beginning with Arbitrum DAO. Unravel Pantera’s Panterastrategic move and its implications for the DeFi ecosystem
Capital returns to active on-chain governance participation, beginning with Arbitrum DAO. Unravel Pantera’s Panterastrategic move and its implications for the DeFi ecosystem
Additionally, Pantera Capital partnered with Sentient Labs in a successful $85 million seed funding round, contributing to one of the largest seed rounds for AI startups. These investments and partnerships underscore Pantera’s commitment to fostering innovation and growth across various sectors of the blockchain and technology industries.
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In significant news for the XRP community, Ripple donated $1 million to the newly super political action committee (PAC) Commonwealth Unity Fund set up by pro-crypto lawyer James Murphy, known as MetaLawMan in the crypto community.
Ripple Contributes To Directly Support Pro-XRP John Deaton
The super PAC established by James Murphy, Commonwealth Unity Fund, received a $1 million donation from Ripple Labs. This super political action committee was set up this year to unseat anti-crypto Senator Elizabeth Warren and elect John Deaton in the Senate race.
James Murphy, known as MetaLawMan, reacted to Fox Business journalist Eleanor Terrett’s post on X revealing the donation by Ripple Labs in this new PAC. “For me and my family, this election is simply too important to just stand on the side lines. We desperately need a unite like John Deaton in the Senate,” he added.
He also requested the crypto community, especially XRP army, to contribute to the Commonwealth Unity Fund and support Deaton in the Massachusetts Senate election. Murphy donated $50,000 to the PAC.
According to the Federal Election Commission, the total donation to Commonwealth Unity Fund was $1050020. Moreover, the cash on hand until June 30 is at $909,405.
Also Read: Ripple Exits Investments in Crypto Firms Bitstamp And Tranglo
XRP Price Outlook Amid ETF Prospects
Ripple has donated millions to crypto-focused non-authorized PAC such as Fairshake to support technological and crypto innovation in the U.S. by contributing to political candidates. The company has donated $50 million to Fairshake. However, the PAC faced heavy scrutiny from crypto enthusiasts for not supporting John Deaton in his electoral campaign.
XRP price extends rally with 3% jump in the past 24 hours amid ETF news. The price is currently trading at $0.54, with the 24-hour low and high of $0.5241 and $0.5682, respectively. Furthermore, the trading volume has increased by 56% in the last 24 hours, indicating a rise in interest among traders.
The rally came as the Chicago Mercantile Exchange (CME) and CF Benchmarks announced the launch of the new reference rates and real-time indices for XRP. This sparked speculation of XRP ETF, with CEO Brad Garlinghouse also notifying the community of positive developments towards spot ETF.
