Crypto shifts how talent coordinates and works together. For decades, the youngest talent entering Silicon Valley wanted to join companies emerging from YC batches. Today, we’re seeing droves of talent join early-stage protocols and digitally native organizations. In the past 5 years talent moving into the crypto ecosystem has grown dramatically, with the number of full-time developers alone growing by over 1000%.
Protocols and the communities that govern them, however, have a new set of needs and requirements compared to traditional corporate structures. One common structure is a DAO which provides an effective framework for individuals to pool their resources and work towards a common product or service. Contributors typically provide value in exchange for tokens issued on blockchain rails. Inherent to their philosophy, DAOs are more decentralized than traditional corporate structures, with contributors being employed across the world with a variety of roles. We’ve seen thousands of DAOs created over the past few years as digitally native organizations take off.
The realities, however, are that DAOs and Web3 organizations still need to provide crucial services to their employees and contributors around the world. Contributors require benefits like insurance and the ability to pay for expenses like rent. Even more—token administration requires infrastructure that existing Web 2.0 companies are not equipped to address. Enter Toku.
Toku offers the most comprehensive suite of payroll, token grant administration, tax and employment solutions in the market today. In working with a broad swath of organizations like Gnosis and Protocol Labs, Toku has solved edge cases, enabling Web3 organizations to support a wide array of global contributors in a legal and compliant manner. Toku’s services are available in over 100 countries, working within more than 100 regulatory frameworks.
While the regulatory landscape continues to pose challenges for builders and developers, Toku ensures that Web3 organizations are able to function in the most comprehensive and compliant manner. Ken O’Friel and Dominika Stobiecka, Toku’s co-founders, have demonstrated, in a short period of time, their expertise and skilled execution at delivering a world-class solution to their client base. We’re incredibly excited to partner with Toku in their seed financing as they support this next generation of builders, users and contributors in the Web3 world.
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