Short Description: Daox is the ecosystem and platform for Fundraising DAOs
Category: Tokens Cryptocurrency
Daox is an investment ecosystem and a blockchain-based platform that provides a complete solution for ICOs 2.0 (DAICOs), crowdfunding, and crowd investing with the application of a Fundraising DAO concept. Fundraising DAO (decentralized autonomous organization) is a blockchain-based entity that implies all the best practices of venture capital, ICOs, and crowdfunding in an Ethereum-based application. They play the role of advanced intermediaries between startups and its investors providing a leap forward in the efficiency of investing and raising funds. They are like real world companies but instead of a legal body they have smart-contracts, instead of bank accounts they use cryptocurrencies, instead of shares there are tokens, and instead of the jurisdiction — a borderless blockchain network.One of the main principles is that all the collected funds are stored in a DAO instead of being at the disposal of a single individual (or group of individuals). The funds are released based on withdrawal proposals submitted by the startup team. If investors (DAO token-holders) of the startup are satisfied with the way the project unfolds, they approve such requests.Each Fundraising DAO becomes a part of the open Daox Ecosystem that consists of investors, startups, and third-party services that could be easily integrated via the Daox Open API. This is an advanced marketplace for ICOs and investors. DXC is the native token of the Daox Ecosystem. It is a utility token that enables all the interactions in the Daox ecosystem, provides access to the Daox Platform services, tools and discounts. The DXC is Like a gas to run crowdfunding campaigns. Average ICO or crowdfunding project is spending 10% of its fundraising target for marketing and other services. The DXC is used to get access to all such services in the open Daox Ecosystem. The capital raised via ICOs and crowdfunding is expected to hit $110 billion in 2019.
The ICO will run on the Ethereum platform, and only ETH would be accepted. In accordance with the concept and ideas of fair crowdfunding that is being proposed by the Daox project itself, the total amount of cryptocurrency raised during the token sale will be stored in a decentralized autonomous organization, established on the daox.org platform. Consequently, DXC token holders will be able to control expenditures, hence their risks will be almost entirely eliminated. If the majority of DXC token holders are not happy with the way the Daox project unfolds, they can vote for a full refund of the remaining proceeds.
CEO at Daox
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