• Grape Protocol, based in Solana Beach, California, has received $1.2 million in seed funding

  • Grape Protocol, which provides DAOs with tools, has received $1.2 million in seed funding. The protocol was also the cause of Solana’s 17-hour outage last week, when demand for its first token sale crashed the blockchain.

    Grape Network, a “DAO infrastructure” protocol based in Solana, has raised $1.2 million in seed funding.

    Multicoin Capital led the round, which was joined by SkyVision Capital, Definitive Capital, LongHash Ventures, Double Peak Group, and Solana Capital.

    Grape recently raised $600,000 through a so-called IDO (initial DEX offering) on Raydium AcceleRaytor, a crowdfunding platform. In an IDO, a blockchain project raises funds from retail investors by making a token’s first public debut on a DEX (in this case, Raydium).

    But it was a mess. The IDO was responsible for Solana’s outage last week because too many participants, including bots, attempted to participate, resulting in a denial-of-service (DoS) attack on the network. The blockchain attempted to handle 400,000 transactions per second at its peak.

    Grape’s seed funding round, like its IDO, was raised through a token sale, according to the protocol’s core contributor Dean Pappas. Grape intends to double its current team of ten with the new capital, according to Pappas.

    “Demand for our toolset has exceeded all expectations, and we need to double the team size to handle the demand while still developing in accordance with our roadmap,” he said.

    Grape provides decentralized autonomous organizations (DAOs) with tools to help them manage their communities more effectively. According to Pappas, most DAOs today use Telegram and Discord, which can be “confusing and jarring.”

    “The goal of our tools is to direct attention, more efficiently organize groups and committees, and incentivize work that directly advances a community’s mission,” he added.

    Grape Access, Grape’s first tool, allows DAOs to grant exclusive access to community members based on their wallet balances. It accomplishes this by linking their social accounts to their cryptographic keys. “With Grape Access and our workplace module, DAOs can identify true contributors and delegate responsibilities to advance the organization’s goals,” Pappas explained.

    At the moment, the Grape protocol is only concerned with serving the Solana ecosystem. Saber Labs, Degen Ape Academy, SolanaMonkeyBusiness, and others are among the popular Solana projects that use the protocol.

    Grape, according to Pappas, is working on more DAO tools, including a “intra-DAO payments system” that will allow DAOs to program faster token payments.

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