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Cointelegraph raises $9M for Solana-based protocol to decentralize ridesharing

$9M raised for Solana-based protocol that decentralizes ride-sharing

The ride-sharing industry is poised for another paradigm shift with Web3 protocols, allowing new companies and drivers to bid for rides using a matching algorithm, according to the Decentralized Engineering Cooperation (DEC) — the company behind the Solana-based protocol TRIP that enables mobility-based applications.

DEC states that riders and companies can join forces on the TRIP platform to compete in a shared market. The protocol rewards active participants by giving them a stake in its governance, which is beneficial for both customers and drivers.