# KulaDAO Q1 2023 Update

**Published by:** [KulaDAO](https://paragraph.com/@kuladao/)
**Published on:** 2023-04-05
**URL:** https://paragraph.com/@kuladao/kuladao-q1-2023-update

## Content

The absence of recent posts does not imply project inertia. Rather, our silence here is matched in significant strides forward, which have kept our focus and attention. As we already close out Q1 we will be dropping three posts. This one will review all that’s been going on internally with KulaDAO, a second and soon to follow, will focus what is happening with our partners in the growing KulaDAO family, and a third post will look forward to the horizon of Q2. The Kula team has been on a deep dive; even a granular adventure through the global DAOscape — and used our learning to ensure our project kicks off with the strongest possible foundation. We continue to learn, continue to grow, and just keep getting more excited. Here is what’s been going on with us: Our first KulaDAO Guilds are starting: We have kicked off our first guild on governance after a comprehensive analysis of governance issues in the world of DAOs. We discovered much, and while there are some shining examples of how healthy governance has been applied to decentralized operations, the reality is for most DAOs, governance is skin deep. We are learning from the successes and failures of others in this space and are in a lively discussion as a community on how we will structure contracts to execute decisions. If you want to track what is going on with our guilds and jump in on the action join our Discord Community. FINMA Switzerland Update: Our legal team has completed our application to FINMA in Switzerland. We are now waiting on their questions, clarifications, and ultimate decision. It was a long process to get to this exciting milestone and we are grateful for the expertise and guidance of a wonderful team in Zug. Audience and Message: We looked again at our messaging and while our mission has not changed - Kula is building a DAO ecosystem that aligns the interests of different people to create shared value - it is equally true that Kula is making fair-trade investments that use blockchain technology to make the process transparent and accountable. That second messaging line has seemed to land with our first financial partners and consequently it means that we have... Investment: We have our first external seed funding! It has been perhaps one of the most difficult seasons for raising capital in recent memory. We have certainly found this to be true for Kula. Add to the fact that DAOs are not yet in common vernacular, and we realized we can spend more time on the education of our audience than pitching the opportunity of the project. Breaking through on this is encouraging for each person working daily on the launch of this exciting project. As we move forward as a team, we are increasingly confident, not only in the idea and concept that has fueled our passion to birth and grow this project, but that the foundations of Kula are being established for a lasting future. There is more to come! Look out for next week’s post. If you want to know more and stay more connected to the development of this project, please join our monthly AMA (Ask Me Anything), where the founders talk about the last month’s developments and answer community questions. Read our White Paper, follow our socials, and join our Telegram & Discord Communities to keep up to date with the project’s chatter. See here. -The KulaDAO Team

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