'Gensler and Biden were just better for crypto,' says Tally CEO as DAO governance platform shuts down

Tally, a major platform providing on-chain governance infrastructure for over 500 DAOs including Uniswap and Arbitrum, is ceasing operations after six years. CEO Dennison Bertram stated that the demand for governance tooling has vanished due to two main factors: the disappearance of the regulatory threat under the successor administration, and the failure of the Ethereum ecosystem to produce the 'infinite garden' of protocols needed to sustain the business model. Bertram argued that the SEC's prior scrutiny under Gary Gensler forced protocols to decentralize as a legal strategy, making tools like Tally necessary; the current administration's signals that decentralization is optional removes this necessity. Furthermore, the expected proliferation of Layer 2s and consumer applications did not materialize, leading to industry consolidation and proving that a venture-backed business in governance tooling is currently unviable.

(Source：CoinDesk)