Crypto lawyer Gabriel Shapiro's startup, Metalex, has raised $2.75 million in a funding round, valuing the company at $27.5 million. Metalex aims to bring order to the chaos created by crypto projects in their quest for full decentralisation through Decentralised Autonomous Organisations (DAOs). The company is developing a business-to-business crypto software as a service that standardises smart contract-based processes for DAOs.

Shapiro is focused on addressing the issue of crypto projects claiming to be fully decentralised while being run as centralised entities. DAOs allow members to participate in organisational decisions using a governance token, but this can lead to complications when too many parties are involved. Metalex plans to introduce a "Cybernetic Organisation, or BORG", to govern the company's approach to participation in research, development, governance, incubation and acceleration of crypto/DeFi/web3 protocols.

BORG is a hard-coded construct that will enforce governance rules using smart contracts. Metalex also plans to launch an operating system for DAOs to streamline their governance decision processes. According to Shapiro, several crypto projects have already expressed interest in this service, including a layer-2 blockchain and a DeFi DAO.