The DAO solution Utopia, invested by Paradigm, will cease all services

ChainCatcher news, DAO solution Utopia announced that it will cease all services on November 6, and the product will be available for free until the end of this month. The project emphasized in the announcement that this action does not mean the closure of the company, but rather a shift away from existing products and current directions.

It is reported that Utopia is a provider of payroll, expense, and operations management for DAOs, which can streamline operations, manage payroll, and integrate financial reporting. Previously, in June 2022, the project raised $23 million in funding led by Paradigm, with participation from Circle Ventures, Coinbase Ventures, Infinity Ventures Crypto, Distributed Global, and others.