XDAO Launched on CoinEx Smart Chain: To Help Users Create DAO Easily
Supported by CSC Multi-Million Dollar Supportive Plan, XDAO has recently been deployed on CoinEx Smart Chain (CSC), making it the first DAO-building platform on CSC. XDAO is a platform for creating and managing Decentralized Autonomous Organizations (DAOs). With XDAO, users no longer need to understand the code or be able to write a smart contract. Instead, they can create their own DAOs through XDAO on CSC in less than one minute and explore more DAO functions.
CSC Multi-Million Dollar Supportive Plan: To empower public chain projects
CSC Multi-Million Dollar Supportive Plan was founded in June 2021 to recruit and encourage outstanding developers to improve the CSC ecosystem. The Fund features 3 different supportive methods that come with different levels of project support: 1) Funding (new projects designed by new developers), 2) Funding + Publicity (projects created by experienced developers), and 3) Funding + Publicity + Ecology (mature projects).
Application link: https://www.coinex.org/million_dollar_plan
As an EVM-compatible public chain that features high performance and low fees, CSC aims to build a decentralized financial ecosystem. Since it was launched, the Fund has received applications from over 200 new projects. Last September, CSC introduced a Metaverse Special Fund as a gesture of great support for new projects. At the moment, the projects supported by the Fund span many trending categories, covering NFT, GameFi, DeFi, DAO, etc.
Approved by the Fund, XDAO will receive support for Funding + Publicity + Ecology from CSC’s Multi-Million Dollar Supportive Plan during different growth stages.
What is XDAO?
XDAO is a multi-chain DAO builder that allows anyone to easily create DAO for the joint management of crypto assets. It innovatively gives the DAO creators and managers governance rights (by issuing governance tokens or GTs), and investors can have a share in the DAO (by purchasing and holding liquidity provider tokens or LPs).
To enable simpler, more lightweight DAO protocols, XDAO uses functional modules for low-gas deployment. Just last month, it updated 7 programs, providing more use cases for DAO. XDAO now covers 20 blockchains, with functional modules that include Private Exit, Dividends, Launchpad, and Payroll. In addition, 8 DAO modular functions, including Vesting and Timelock, will also be introduced in the future.
A connector, accelerator, and incubator for innovative applications
CSC provides an efficient DAO-building bottom layer for XDAO. When building DAOs, users frequently suffer from network congestion. As such, XDAO decided to get deployed on CSC, a public chain where transactions are confirmed within seconds, to ensure the efficient running of DAOs. Moreover, the superior TPS and high system throughput of CSC facilitate smooth XDAO user experiences, and the extremely low gas fees reduce operating costs.
Interactive ecosystem planning with CSC injects vitality and value into XDAO. CSC now supports cross-chain swapping on ETH, BSC, and Tron. This means that assets on these chains can be quickly swapped for CSC-based assets through CSC Bridge, allowing more users to benefit from XDAO. In addition, the all-encompassing empowerment offered by CSC Multi-Million Dollar Supportive Plan in terms of promotion, user traffic, and resources has sped up the growth of XDAO and helped the platform quickly go through its infancy.
Backed by the Fund, XDAO has now become an emerging application on CSC, bringing new vitality to the CSC ecosystem. Since the boom of DeFi and NFT, in addition to a stable, efficient ecosystem, CSC has also supported many new projects with intensive, effective resources via CSC Multi-Million Dollar Supportive Plan. The public chain has evolved into an enabling habitat for projects in such categories as DeFi, NFT, GameFi, and DAO. In the future, CSC will continue to encourage promising, outstanding developers to apply for the supportive plan, and work with them to jointly promote the fast growth and success of the CSC ecosystem, exploring more future possibilities for public chains.