The year 2017 saw a dramatic turnaround in the perception of cryptocurrency among the ordinary masses. The words 'bitcoin', 'blockchain', 'cryptocurrency' gained prominence with 'bitcoin' becoming the 2nd most searched word on Google in 2017.
In 2017, the Initial Coin Offering (ICO) market attracted investments of worth $6 billion, which is incomparable to the figures for 2015 while 20 times to the figures for 2016.
The DAOX project aims to meet the 4 major objectives: -
- Solve existing challenges related to crowdfunding and ICO
- Bring substantive increment in crowdfunding's popularity
- Implement software solutions which would allow creation and management of multi-functional decentralized autonomous organizations (DAO) on the Ethereum blockchain network
- Provide required conditions and create an ecosystem where the key factor for attracting ICO' and startup investments' would be the potential and quality of the project, rather than the ability of attracting investments
DAOX ECOSYSTEM
The key motive of establishing the DAOX Ecosystem is to offer the most efficient way of investing and attracting funding for startups.
The DAOX Ecosystem primarily consists of 4 broad categories: -
- Users
- Interfaces
- DAOs
- 3rd party tools and services (service providers)
HOW DAOX ECOSYSTEM WORKS
Each project on the DAOX ecosystem is launched in the following steps: -
A. A startup launches fundraising campaign on the daox.org platform or via any other interface
B. The campaign functions as an self-governing Decentralized Autonomous Organization (DAO) on the Ethereum blockchain
C. Once the funds are raised, it is stored securely with the DAO and received by members of the DAO in form of tokens
D. The DAO is managed by token-holders through a transparent voting system
DAOX PLATFORM
The daox.org is a platform which would allow interaction within the DAOX ecosystem through a simple and user-friendly interface. The daox.org will be means to access all the features hosted on the DAOX ecosystem through smart contracts.
The daox.org is a platform to create and integrate with organizations, which offers all the essential functionality, such as: -
To create a project
To collect and redistribute funds
To communicate with project’ authors and investors, etc.
The daox.org platform will also offer an open API which allows to integrate services from 3rd party developers and service providers.
Some of the features already available on the daox.org platform are as follows: -
- Registration and user profile
- Creation of a DAO
- Settings and launch of a fundraising campaign
- Creation and distribution of tokens
- Review of a fundraising campaign and a DAO
- Purchasing DAO tokens with Ether (ETH)
- Purchasing DAO tokens with DXC tokens
- Negotiation of requests and consideration of projects
- Proposals (withdrawal requests, other types of proposals)
- Review, discussion, and participation in a proposal
- Integration of services and widgets via the DAOX Open API
- Interaction with features of the DXC token
- Generation of Ethereum addresses for users
- Storage of tokens and ether
DXC TOKENS
DXC Tokens are the utility tokens used on the DAOX platform. The DAOX ecosystem is hosted on the Ethereum Blockchain Network and the DXC tokens are ERC-20 compatible tokens.
The DXC tokens will be used for financial interaction between users and 3rd party service providers within the DAOX ecosystem. The DXC Tokens will basically act as the cryptocurrency for fundraising DAOs.
Apart from that, DXC tokens can be used to carry out other activities such as: -
A. Reciprocal payments in the DAOX ecosystem
B. Payment for promotion of project on daox.org platform
C. Payment for daox.org' commission
D. Establishment of organizations
Pre-ICO June 20 - July 30
Main Sale July 31 - September 30
Main Sale Price 1 DXC = 0.20 USD
Soft Cap $4.5M
Hard Cap 300M DXC
Max Supply 300M DXC
CONCLUSION
Thus, DAOX is one of the most conceptualized projects with the core objective of bridging the gap between startups and investors, making crowdfunding through cryptocurrencies mainstream while improving the efficiency of investing and raising funds in a crypto based economy.
The DAOX project solves some of the challenges faced by startups seeking funds through conventional funding methods by deploying blockchain technology and popularizing cryptocurrencies led crowdfunding.
#daox, #dxc, #dao, #cryptocurrencies #ico
For more information on the DAOX project, please refer the following links: -
*Website - https://daox.org/
*Whitepaper - https://daox.org/#WhitePaper
*Join at Telegram - https://t.me/daoxchat
*Follow on Twitter - https://twitter.com/daoxorg
*Follow on Reddit - https://www.reddit.com/r/DAOx/
*Follow on Instagram - https://www.reddit.com/r/DAOx/
*Subscribe on YouTube - https://www.youtube.com/channel/UCxNfTHqdrl04RUyOmsmOvPA
*Follow on Medium - https://medium.com/daox
Published by 'Sameer S'
Telegram ID - @Sameer_R
BTalk Profile URL: - https://bitcointalk.org/index.php?action=profile;u=1978491
Disclaimer: - Kindly conduct your due diligence before making your decision on this project from the investment and legal perspective.