According to Foresight News, Utopia, a DAO salary payment system that has received investment from Paradigm, announced that it will stop all services on November 6. Current gas-free transactions will be closed, the project will not fix any errors, and the product will be free to use before the end of this month. Utopia said the move does not mean closing the company, but rather abandoning existing products and existing direction.
Utopia is a payroll, expense and operations management provider for DAOs that can streamline operations, manage payroll and consolidate financial reporting. It previously received $23 million in financing led by Paradigm in June 2022, Circle Ventures, Coinbase Ventures, Infinity Ventures Crypto, Distributed Global and others participated in the investment.
