GnosisDAO has approved the spin-off of Karpatkey to become an independent entity with KPK token.
GnosisDAO has decided to spin off DAO financial risk manager Karpatkey into an independent entity that will utilize its own KPK governance token.
According to the statement, Karpatkey has been part of GnosisDAO since 2021 and has successfully executed over 7000 DeFi transactions during this period, managing over $2.6 billion in treasury without any losses or hacks.
Karpatkey provides treasury and risk management solutions, on-chain financial services, and support for DAO business development initiatives. We have worked with famous clients in the cryptocurrency industry, including Aave, Uniswap, ENS, and MakerDAO.
The proposal to spin off Karpatkey into its own DAO was first made last February and has now been approved through an on-chain vote.
As an independent entity, Karpatkey plans to expand beyond its traditional Web3 services, including launching low-cost, non-custodial, actively managed open-end funds targeting institutional investors.
As the project forms its own DAO, KPK token holders will influence its financial management strategy.
Spin-offs are also part of it gnosis 
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A broad strategy to support blockchain application development and strengthen the Web3 ecosystem.
Gnosis DAO oversees the Gnosis Chain, a sidechain that runs parallel to Ethereum. Previously, Safe and CoW Swap were also spun off from Gnosis into their own DAO.
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