As well as steering the direction of the project, the DAO aims to provide a kind of decentralized insurance against oracle failings.
The firm spent three years trying to develop credit scoring for crypto users, but realized that data collection on DeFi protocols fell short.
The partnership could bring fintech and banking customers into DeFi, says Open Bank Project founder Simon Redfern.
API3, a firm aiming to provide an alternative to oracle service Chainlink, has raised $3 million in a private funding round led by Placeholder.