CoinExSmartChain(CSC)| XDAO: A Beginner-friendly DAO Builder
Over the past two years, decentralized autonomous organizations (DAOs) have scored excellent performance in the crypto market, with exponential growth in DAO participants. According to DeepDAO, the number of DAOs on blockchain networks has surged since 2022. There are now over 10,000 active DAOs, up 200% from 4,000 in early 2022. Additionally, over 6 million users have become DAO members.
As organizations that operate without central leadership, DAOs are decentralized and autonomous. Plus, they can also converge with the trending AI technology, which fully meets the demand for growth in the Web3 era. Today, DAOs are even seen as a new paradigm for Web3 organizations. Furthermore, the DAO boom has attracted plenty of crypto enthusiasts and institutions to the field. To make it easier to establish DAOs, all sorts of DAO tools have emerged. Today, we will dive into XDAO, one of the well-known DAO builders.
What is XDAO?
XDAO is a multichain DAO ecosystem featuring secure asset management, a multi-signature wallet, and an investment platform. The DAO builder comes with a modular structure, allowing users to create DAOs with ease. XDAO, with its ingenious product design, won the DeFi 2.0 Newman Capital Innovation Award last year and is now running smoothly on CoinEx Smart Chain (CSC), with plans to keep expanding its market presence.
Many different types of DAOs have already been created on XDAO. They focus on all kinds of activities, including DeFi protocol maintenance and venture capital investment.
Advantages of XDAO
On XDAO, users can effortlessly create DAOs, store crypto assets, manage them through voting, sell DAO shares, and directly interact with DeFi protocols.
As a tool of DAO management, XDAO offers the following use cases:
- Trust Management: Collect funds and invest in other projects through Launchpad and other platforms;
- Venture Capital Investments: Decide on the spending of invested companies to reduce the risk of losses;
- Hedge Funds: Connect to any DeFi protocol and provide liquidity through a DAO;
- Gaming Guilds & NFT Funds: Create a DAO and let it function as a guild;
- Project Fund Management: Manage users’ shared project budget;
- Charity Management: Distribute funds transparently and securely through a DAO.
Create a DAO in 5 minutes
On XDAO, creating a DAO is pretty simple. Users only need to click on “Create a DAO” in the menu on the left, connect to the correct blockchain, enter the name of the DAO, give it a ticker symbol (Governance Token — GT), and then add partners’ addresses. GTs are minted right at the moment of a DAO creation and have the same address as the DAO. These tokens represent the voting power in this DAO.
When creating a DAO on XDAO, users benefit from the reliable solution provided by the platform, which clearly defines matters such as the storage and approval of expenditures, decision-making within the organization, etc. With XDAO, the rules of DAO governance are fully configured through the platform UI, saving users the trouble of writing codes. On this platform, all that users need to do is to allocate their GTs and balance on-chain/off-chain voting.
Users interested in having their own DAO may go to CSC and try out XDAO:
2022 saw a revolutionary change in the way organizations are run and managed globally. The concept of DAOs began to take hold as more and more individuals and organizations adopted the technology. With the help of DAO builders like XDAO, more organizations have been able to take advantage of the new system to manage assets and streamline development.
As the market leader among DAO builders, XDAO is always pushing the development of decentralized autonomous organizations. In 2023, it plans to launch some truly game-changing projects that will take the platform to the next level. Going forward, XDAO will keep on leading the charge in the world of DAOs and drive the adoption and innovation of even more DAOs.
