XDAO is a project that allows all DAOs to perform transactions on different networks.
Management Platform for DAO’s
It can be considered as a DAO Manager. You have the opportunity to create your own DAO in the app and do fundraising. In other words, you can install it in XDAO without needing anything else.
Although DAOs are a good development in the sector, there are limited areas of movement. As you know, DAO is the name given to the Decentralized Anonymous Organization. It is managed only by the community, and decisions are made at the request of the community. Although these features are so-called for now, I am sure that in the future, DAO’s systems will develop and gain different perspectives. XDAO also offers multiple solutions to DAOs to help them.
You can create a DAO via Xdao.app, list it and let people review it. At the same time, they provide full consultancy and create a roadmap to customers, mostly VCs, who will establish DAO with their services called XDAO Pro. The text on the websites about the solution provided by the Service:
“With XDAO Pro, you will get the product by contributing your time only to consultation. We provide legal and technical support through the creation process and after the launch. Count upon experts. In other words, it is a project that is useful for DAOs both professionally and as a dApp.”
Token ($XDAO)
The $XDAO Token is the project’s utility token. The token will be used for purchasing modules that you can see in the app in general, for some subscriptions, paying for XDAO Pro services. It’s not just an organization that helps DAOs, it looks like they will launch their XDAO exchange platform in Q1-2023 as stated in their roadmap. I mean, the roadmap states that. Looking at the partners and the overall project, I think that exchange will be launched. It looks like so many opportunities will come.
Investment
XDAO recently raised $2.3 million in the seed round at a valuation of $50 million. DWF Labs, Telos Foundation and Grizzly Capital stand out among investors. Investing comes with a 12-month cliff, as we have often come across lately. After the cliff, there will be a linear distribution for 36 months. It is difficult to raise funds in this period. So, money like 2 million is not bad at all.
This Singapore-based start-up will make it much easier for DAO users to manage their tokens. Shavlidze said, “As a member of the DAO syndicate I noticed how difficult it was to set up operations in web3.” They claim that they will make it easier. Of course, the investment will be used for things such as expanding the team, new improvements. What else was going to happen?
It should also not be overlooked that they received grants from 20+ companies before the investment round. I thought there were more benefits with Grantler than there were in the seed round. Of course, when you go to the right places, taking a grant is not difficult at all.
Summary
DAO is a developing type of blockchain community and many more innovations will come. I think that we will soon see this project with different products, which tries to make DAOs, whose operations are not understood by most people, more simple and usable.
Source
https://xdao.app
Leave a comment