Realms, a key player in the world of crypto-governance on the Solana blockchain, has undergone a significant shift in management. The hub, which serves as a central location for crypto apps to vote, make decisions, and manage their treasuries, is now under the leadership of a new entity known as “Realms Today Trust.” This change marks a new chapter for the project, originally created by Solana Labs to provide startups on its blockchain with a platform to handle their internal affairs.
The new leadership team, spearheaded by Dean Pappas, aims to introduce profit-generating services to ensure the sustainability of Realms. Pappas emphasized that while the focus is on developing revenue streams, the essential public goods that support numerous Solana-based decentralized autonomous organizations (DAOs) will remain free of charge. These governance tools empower token-holders within projects to participate in decision-making processes.
In addition to maintaining existing services, Realms is rolling out new offerings to enhance its value proposition. One notable addition is a crypto-advisory service designed to assist DAOs in structuring their governance frameworks effectively. Furthermore, an incorporation-advisory line will support DAOs in establishing legal entities and bank accounts. Realms is also introducing a credit card feature that enables DAOs to utilize their crypto-treasuries for spending purposes.
These initiatives are aimed at capturing a portion of the substantial $1.5 billion in crypto assets that DAOs have stored within Realms’ infrastructure. Moreover, Realms plans to allocate $200,000 in grants to support emerging DAOs within the Solana ecosystem, demonstrating a commitment to fostering innovation and growth. While the source of this funding remains undisclosed, it underscores Realms’ dedication to empowering the community.
The transition to new ownership reflects a broader trend within the Solana ecosystem, where projects incubated by Solana Labs eventually evolve into independent entities. Realms’ new legal entity, Realms Today LTD, is led by Sebastain Bor, a DAO engineer at Solana Labs, along with directors Dean Pappas and Jose Neif Jury from BCB Group. The company’s expansion plans include scaling its team, which currently consists of 12 full-time employees, to support its growing operations.
Looking ahead, Realms intends to diversify its offerings by developing customized frontends for various tokenized governance applications. This shift marks a departure from the current one-size-fits-all approach, signaling a more tailored and specialized user experience. Additionally, Realms is exploring modifications to Solana’s governance standard for SPL tokens by forking the existing codebase to create innovative solutions.
As Realms embarks on this new chapter under fresh leadership, the Solana community can anticipate a wave of enhancements and innovations that will shape the future of crypto-governance on the blockchain. With a strong focus on sustainability, profitability, and community support, Realms is poised to play a pivotal role in driving the growth and development of the Solana ecosystem.