# ContributionDAO secures $2.8M funding from KASIKORN X Venture Capital (KXVC)

- Link: https://www.thailand-business-news.com/companies/128823-contributiondao-secures-2-8m-funding-from-kasikorn-x-venture-capital-kxvc
- Published: 2024-03-01T11:26:26+07:00
- Author: J. Allan

ContributionDAO, a Singapore-based platform that offers staking and community management
solutions for blockchain projects, has secured $2.8 million in a seed funding round
led by KASIKORN X Venture Capital (KXVC), the VC arm of Thailand’s largest commercial
bank.

The funding will help ContributionDAO develop new staking products, support its 
global community, and grow its presence in the Southeast Asia blockchain market.
The platform aims to connect global blockchain projects to Southeast Asia by providing
node and community management services.

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ContributionDAO claims to have contributed to several global blockchain projects
such as Axelar, Sui, Celestia, Sei network, etc. It also recently launched ProofSquare.
xyz, a tool that allows contributors to verify how their funds are used by the projects
they support.

Jom Vimolnoht, Managing Director, KXVC Added:

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“ContributionDAO is our key strategic partner of KASIKORN X to endorse the Web3.0
ecosystem in Southeast Asia, with their proven capabilities, and the key results
of contributing to various global projects, we are excited to work with ContributionDAO
to support them in the journey of creating new cutting edge Staking solution, and
community management tools that bridge global to local Southeast Asia market.”

The funding will allow the company to expand its staking services across Southeast
Asia by placing it in a leading position across the region.

ContributionDAO has a social and educational component, as it seeks to raise awareness
among the citizens about the benefits of cryptocurrencies, both for economic development
and the environment, as well as to educate merchants and consumers about the functioning
and advantages of these new payment systems.

ContributionDAO is a pioneer in decentralized finance, as it aims to democratize
the funding process for open-source projects and innovative ventures, allowing individual
contributors to have a stake in the projects they support.

The crypto company currently holds over $400 million in assets under management 
in its node-staking platform with over 10,000+ community contributors and investors.