Tally, a blockchain-based platform for DAO governance, is shutting down after six years. The company, which processed over $1 billion in payments and supported protocols like Uniswap and Arbitrum, cited changing market conditions and a shift in regulatory clarity.
CEO Dennison Bertram attributed the decline to a lack of sustainable venture-backed business models for DAO tools. The closure follows a $8 million Series A round, highlighting rapid shifts in the crypto landscape.
Tally will cease operations by the end of the month, with transition plans for larger clients. The move reflects broader trends towards AI funding and reduced need for complex decentralized governance.