With the success of decentralized solutions and the advent of Web3, companies and economic development projects are turning to decentralized autonomous organizations (DAO). XDAO is a platform that allows you to create your DAO in a few minutes and then evolve it thanks to a varied and unique tool palette.
XDAO, the solution to create and manage your DAO easily
XDAO is a decentralized solution designed for the creation and development of decentralized autonomous organizations (DAO). The keystone of Web3, DAOs are groups of people whose common actions are governed by immutable rules written directly into smart contracts.
If you are unfamiliar with the concept of DAOs, you can find our complete explanation of it in order to better understand the stakes of these decentralized communities.
After a difficult start, notably with the infamous story of The DAO which led to the Ethereum blockchain (ETH) fork, decentralized autonomous organizations have now become a reference solution for projects in the blockchain ecosystem.
There are many reasons for this, including the security they offer (multi-signature process) and what is commonly referred to as the governance system. Most often, this system is itself governed by a governance token. Distributed to the entities making up the network, the token allows them to take part in voting systems to make a project evolve in a parity and unforgeable way.
Faced with this boom, solutions allowing the creation of DAO have gradually emerged like XDAO, which is now considered a reference and which collaborates with giants such as the NBB Chain, Polygon (MATIC) or Moonbeam.
Today, the tools of the XDAO platform are suitable for any entity wishing to structure itself around a secure decentralized system. This can be particularly suitable for creating a decentralized treasury system, which is now a common scenario.
This model can for example be adopted by startups, DeFi projects, GameFi guilds, non-fungible token owners (NFTs), public funds or even venture capital funds.
What possibilities does XDAO offer?
As we said before, XDAO offers to create secure DAOs, and this is possible thanks to its system based on 2 tokens: governance tokens (GT) and LP tokens.
As their name suggests, governance tokens are distributed in such a way as to deliver a voting power, while LP tokens allow anyone to buy shares of the DAO materialized as tokens.
Thus, GT token holders are responsible for determining the future of the DAO and must define the structure and functioning of the DAO, including managing the project’s cash flow, managing the distribution of LP tokens, accepting new members, etc.
The power of XDAO and its uniqueness lies mainly in the multitude of modules offered by the platform: launchpad, Telegram bot, vesting system for tokens, document signing and even dividend and salary distribution, among others.
Currently compatible with more than thirty blockchains, XDAO allows DAOs to interact directly with a multitude of decentralized finance protocols (DeFi) such as Aave, Sushi, Beefy Finance or Uniswap, among many others.
Practical tools are also directly integrated in XDAO such as a bridge and a token swap solution. Overall, the most used tools in DeFi are accessible from the sidebar of the XDAO dashboard.
When creating your DAO, you will need to set a quorum to balance the voting power in your organization. Unlike a traditional multi-signature wallet, the quorum depends on the number of GT tokens needed to validate a transaction and not on a minimum number of signatures.
Thus, by intelligently distributing the tokens, it is possible to flexibly adjust the decision-making mechanism in a group.
For example, a DAO member can submit a governance proposal to be voted on by the group and make the project evolve. The options related to the proposal are completely flexible: it is notably possible to define a start and end date for the vote or to choose which token will be used for the vote (GT, LP or other).
Finally, we remind you that the XDAO token will be sold on October 20th and will offer many advantages to its holders such as access to the XDAO PRO solution, exclusive modules for DAOs, an innovative governance solution as well as access to various unique features.
Ultimately, XDAO is a fully customizable tool that can be used for a multitude of different purposes such as cash management, multi-signature portfolio process or as an investment platform. Also note that a DAO has no minimum or maximum size, it is a solution that can suit groups of any size.
If you are a company, you can also request the XDAO PRO solution in order to expose your project objectives to XDAO, which will then provide you with a turnkey DAO with the most suitable modules and an optimal configuration according to your needs.
Finally, starting October 10th, XDAO will launch a Learn-to-Earn system on its website so that visitors can learn more about XDAO while being rewarded via a quest system.