As its creators have outlined, zkDAO is community oriented and is currently looking for contributors.
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On Thursday, a proposal to fund the decentralized autonomous organization zkDAO was approved via treasury protocol BitDAO with nearly 200 million votes. The proposal was endorsed by Matter Labs – the organization behind the Ethereum scaling protocol zkSync – and Mirana Ventures.
Using zk-Rollups, zkSync and its line of technologies will build a layer 2 infrastructure capable of returning succinct proofs to the Ethereum network without sending all the data. The result, if implemented, would mean a much faster network. Zero-knowledge-based solutions have attracted a lot of attention in recent months due to the persistently high level of congestion on Ethereum, as well as high gas fees. For example, Polygon is committing $1 billion to zero-knowledge protocol and technology companies. In addition to scaling, zero-knowledge proofs can also be used to obscure transactions and enhance individual privacy, such as through the Panther protocol.
As for BitDAO, it is currently one of the largest decentralized treasuries, with a balance of over $2.5 billion. In November 2021, the organization allocated $500 million towards a decentralized blockchain game proposal. Jonathan Allen, head of Mirana Ventures and a BitDAO contributor, made the following comments about the development:
“This proposal will not only benefit the overall Ethereum scaling effort, but will provide tremendous value to the BitDAO ecosystem, continuing to act as a leading force across industries as it creates produce brand new purpose-built DAOs that also need to scale efficiently on-chain. ”