Matter Labs, BitDAO Back $200M DAO for ZkSync

Matter Labs, BitDAO Back 0M DAO for ZkSync
Matter Labs, the organization behind Ethereum layer 2 scaling protocol zkSync, has announced a $200 million decentralized autonomous organization (DAO) backed by BitDAO, a DAO-directed treasury with a balance of more than $2.6 billion.The new zkDAO will use the capital to help expand the zkSync ecosystem through public goods and infrastructure, security frameworks, research and development grants, and investments in other crypto organizations.A zero-knowledge rollup launched in 2019, ZkSync works to ease the congestion and high fees caused by scalability issues on the main Ethereum blockchain.“This proposal will not only benefit the collective Ethereum scaling effort but will provide tremendous…