In retrospect, it was inevitable: A team of blockchain developers has forked GitHub and come up with a system for collaborating on open source software. There’s even a decentralized finance (DeFi) twist.
Announced Thursday, Radicle, a fully decentralized code repository, has raised $12 million in funding, integrated its peer-to-peer network with Ethereum and launched the RAD governance token.
The funding round was led by NFX and Galaxy, with participation from Placeholder, Electric Capital and ParaFi Capital; Naval Ravikant, Balaji Srinivasan and Meltem Demirors were also involved. Notably, it’s the first crypto investment from NFX since Libra co-creator Morgan Beller left Facebook and joined the VC firm in September 2020.
The growing army of “Web 3.0” builders are mismatched with centralized platforms like Microsoft-owned GitHub, said Eleftherios Diakomichalis, co-founder at Monadic, which is building Radicle. The needs of these communities are better served by decentralized autonomous organizations (DAOs) controlling their code repositories, rather than
