Ethereum governance solution Tally used by Uniswap, Arbitrum and others is winding down

Crypto governance solution Tally announced it is shutting down after more than five years of operation. CEO Dennison Bertram stated that the company decided against pursuing an initial coin offering (ICO) because it did not make sense in the current market, and they were not confident they could fulfill promises to token holders. Tally's infrastructure facilitated over $1 billion in payments and served over one million users and hundreds of organizations, including major protocols like Uniswap and Arbitrum, supporting sophisticated coordination and governance systems.

Bertram noted that the vision of an "infinite garden" ecosystem requiring such governance infrastructure has not materialized, concluding that "there isn’t a venture-backed business in governance tooling for decentralized protocols, at least not yet." The governance app will begin winding down at the end of the month, with the team assisting enterprise clients in transitioning to continuation plans, though the interface will remain live temporarily.

(Source：The Block)