xDAO Announces a Strategic Partnership with Polygon
xDAO – the framework for creating Decentralized Autonomous Organizations (DAOs) – and the Polygon blockchain have announced the entering a strategic partnership as a part of cooperation in building a next generation DAO ecosystem.
The xDAO project was launched in April 2021 on the Binance Smart Chain and still remains the only DAO builder in the BSC ecosystem. The service allows you to quickly and easily create a DAO, combine the assets of various people or institutions, collectively manage them and interact with DeFi protocols. A version with similar functionality was launched in June on Polygon.
In addition, in April, the xDAO team became the winners of the BSC hackathon, gaining the largest number of support votes from the community.
The Polygon (previously Matic Network) project was launched in 2017 by a team of former Ethereum developers. Blockchain is a second-layer solution for dApps built on Ethereum. With using it, developers can reduce the commission and speed up transactions in their applications.
Previously in July, xDAO announced the upcoming launch of its own $XDAO token and the release of the second version of the framework in the 4th quarter of 2021. V2 will operate on several blockchains (Ethereum, Polygon, BSC) using an off-chain voting system, when users do not have to pay the gas fee, which is especially important in the case of using Ethereum.
However, if it is important for the DAO to record all the results of the decisions made online, Polygon as a Layer 2 with extremely low transaction fee is the best suited for solving this issue.
In addition to the new decision-making system, xDAO v2 will support the ability to directly connect the DAO to any DeFi protocols through a proprietary Web3 extension (as familiar for everyone MetaMask).
One of the key features of xDAO that distinguishes it favorably from other DAO builders is a clear and convenient user interface. In order to fully use the platform, users do not need any knowledge of the code and the need to finalize smart contracts manually.
We are making xDAO the way we would like to see a modern DAO framework. The time when people were willing to spend months studying and configuring DAO builders has passed. Today, the product should work right out of the box, and its study should not take more than a few minutes. At the same time, it must be technologically perfect and use all the most advanced solutions.
The creators of xDAO will offer users of DAOs that were created on other builders, to transfer the management of their organizations to xDAO and receive regular remuneration in $XDAO tokens. The $XDAO token itself will be involved in the operation of the platform in the format of payment for a subscription, as well as the purchase of additional modules.
In v2, we completely redesigned the architecture and logic of the platform. Our smart contracts have become more flexible and versatile, while initially created DAOs will be able to expand their functionality through additional modules – they can be connected with one click directly through the interface. In addition, we have implemented an off-chain voting system, when only the final transaction is recorded in the blockchain. This will significantly reduce the gas fee.
The xDAO platform has a large audience, and its use cases can be useful for venture funds, startups, investment fundraising and charity programs.
xDAO aims to create more internal tools for organizations, including data processing and analytics services, in order to conveniently provide information about transactions and interactions of the organization related to other smart contracts.
Currently, xDAO is at the 1st round of attracting investments to the project and is actively involved in the process of concluding partnerships with the world’s leading venture funds, as well as blockchain project teams.
“We, like our partners, are convinced that DAO as a form of collective and institutional asset management is the next trend in the world of cryptocurrencies,” Vladislav Shavlidze added.
Links:
⭐️ Project:
https://xdao.app/
🔸 dApp:
https://app.xdao.app/
🔸 Docs: https://docs.xdao.app
🔸 Github: https://github.com/xDAO-App
Published at Mon, 26 Jul 2021 08:00:00 +0000
