GnosisDAO Approves Spin-Off of Karpatkey into Independent Entity with New KPK Token

GnosisDAO has voted to spin off its treasury risk manager, Karpatkey, into an independent entity. Karpatkey will now operate under its own management and governance, utilizing a new KPK token for governance purposes.

Since joining GnosisDAO in 2021, Karpatkey has successfully managed over $2.6 billion in treasuries through more than 7,000 DeFi transactions without incurring any losses or hacks, according to the DAO.

Karpatkey serves a number of high-profile clients in the crypto industry, including Aave, Uniswap, ENS, and MakerDAO, among others. The firm offers a variety of services such as treasury and risk management solutions, on-chain financial services, and support for DAO business development initiatives.

As an independent entity, Karpatkey aims to expand its services beyond traditional Web3 offerings. It plans to launch a low-cost, non-custodial, actively managed open-end fund targeted at institutional investors.

With the formation of its own DAO, KPK token holders will have a say in treasury management strategies. This move aligns with Gnosis’ broader strategy to foster the development of blockchain applications and enhance the Web3 ecosystem.

GnosisDAO oversees the Gnosis Chain, a sidechain that runs parallel to Ethereum, and the CoW Protocol, a decentralized exchange. Previously, both Safe and CoW Swap also spun off from Gnosis into their own DAOs.

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