Realms Governance Center on Solana Blockchain Under New Leadership
Date: 2024-10-23 Author: Oliver Abernathy Categories: BLOCKCHAIN
The Realms cryptocurrency hub, which has been an important part of the Solana ecosystem since its inception, is now under the management of a new team. Realms was created to provide decentralized governance, helping startups and organizations on the Solana blockchain make key decisions. Now, the leadership is transferred to the Realms Today Trust, which intends to turn the project into a sustainable and profitable structure.
Dean Pappas, one of the leaders of Realms Today, noted that the project needs to start making money in order to continue to develop. At the same time, basic functions of the platform, such as project management through token holder voting, will remain free. However, other services, including consultations for DAOs on creating legal structures and bank accounts, as well as issuing a credit card for using cryptocurrency funds, will be paid.
These changes are aimed at monetizing the project, which already has significant assets. Realms has about $1.5 billion in cryptocurrency in its infrastructure, which is owned by various DAOs. It plans to provide $200,000 in grants to support new organizations on the Solana platform, although the exact source of these funds is not disclosed.
Realms was also one of the first projects to spin off from Solana Labs, the company behind the Solana blockchain. This move is similar to a similar process with Metaplex, the platform that developed NFT technology on Solana. Pappas explained that it is important for projects that have reached a certain level to start developing on their own.
As of 2023, Realms Today is now fully owned by Sebastian Bor, a DAO engineer at Solana Labs. Dean Pappas and Jose Neif Jury, representing BCB Group, have since joined the management team.
Today, the Realms team has 12 employees and plans to continue expanding. Among the priorities is the creation of new interfaces for token management, which will allow the solutions to be adapted for different types of decentralized organizations. Modifications to the SPL token governance standards on the Solana blockchain are also being considered, leading to the development of unique products based on open source code.
The changes to Realms governance mark a new stage in the project's development, which aims to become a sustainable and in-demand service for multiple DAOs on the Solana platform.
