What: Paris-based Paladin has developed a decentralized protocol for blockchain governance.
Why: In theory, blockchain systems are governed by the users. But those with few shares or votes are unlikely to participate due to their perceived lack of influence. Paladin's first tool is a vote-lending protocol that allows members to "loan" or pool their votes to have greater power in decision-making.
Seed round: $2.55 million
Investors: NFX, Galaxy Investment Partners (Galaxy Digital), Semantic Ventures, Greenfield Online
Next: Paladin will use this money to continue developing its protocol. In addition, it has begun distributing the initial batch of tokens that power its vote-lending system.