Sarcophagus DAO Closes $5.4m to Build the First Decentralized Dead Man’s Switch
Sarcophagus was built to be a general purpose, decentralized, and immutable dead man’s switch. It runs on Ethereum and Arweave, a rapidly growing permanent file storage network. After a year in alpha development; the application now has over $5m in fresh funding to further develop and proliferate the software. The list of investors includes some of the most well-known players in the space including Placeholder, Greenfield One, Inflection, Infinite, Lattice, LD Capital, Lo Enterprises, Compound VC, Hinge, Blockchange, Arweave and several angels.
Sarcophagus is 100% decentralized and open source (Unlicense) using a DAO architecture. The investors were required to work directly with the DAO, and votes were conducted approving the respective investor agreements and vesting schedules. The best part: It’s all recorded on-chain, available to the public, forever:
Votes: https://client.aragon.org/#/sarcophagus/0xf483c1f7858dd19915d0689d26cb3487fc90b640/
Tx: https://client.aragon.org/#/sarcophagus/0x3299f6a52983ba00ffaa0d8c2d5075ca3f3b7991/
The use cases for Sarcophagus are nearly infinite, but some of the most obvious are emerging in Web3 when it comes to multisig systems and pseudonymous identities. Sarcophagus users are able to pre-define and pre-fund actions to happen on chain in the event of their removal from control of their wallet. Quote from “supersecretevilmegallc.eth” (one of the Sarcophagus Builders): “Using a Sarcophagus dead man’s switch can be thought of as ‘upside down programming’ where the program only progresses to the next branch of actions as a result of a failure of the user to act.”
The potential for this type of software is nearly limitless, especially given that there is no central party of control or censorship. There are no ongoing bills to pay, no credit card transactions, and no emails. The Sarcophagus builders plan to expand the dApp to support lower cost EVM networks like Arbitrum and Polygon, as well as build tooling to make it easier and easier for 3rd party developers to integrate the dead man’s switch functionality into their dApps.
“Composability of dApps is maybe the most important ingredient in the fairy dust that makes web3 so powerful. Not only should the liquidity that makes dApps self-sustaining be standardized and cross-chain, but the application itself should be designed in a way that makes it an easy “money lego” for new devs to stack on to their novel applications. This way the dApp can provide sustaining value as part of the greater web3 infrastructure.” - supersecretevilmegallc.eth (Sarcophagus Builder).
For further information about Sarcophagus visit: