Inspiration
The main point of creating XDAO is that we simply want to make Decentralized Finance more accessible for people. The days of Blockchain Technologies being something distant and terrifying are over. A new era of free, simple, clear, and secure financial management is dawning!
What it does
In a very simple terms, XDAO is a platform for creating and managing Decentralized Autonomous Organizations. To create your own DAO, you no longer need to understand the code or be able to write a smart contract. With XDAO it will take you less than one minute to create your own Decentralized Autonomous Organization.
How we built it
We launched the first version in April 2021, our second version was launched in November 2021. With the launch of the first version, we realized what the DeFi market needs and what tools it lacks. We have implemented all these needs in the second version:
- Multi-token system (LP for investors and GT for core team)
- Direct connection of DAO to DeFI protocols
- Hybrid voting
- Ecosystem for DAOs
- Modular system
- Multichain support
Challenges we ran into
- Creation of secure and simple smart contracts (we've created secure smart contracts that successfully passed two audits)
- Implementation of DAO connection directly to DeFi protocols
Accomplishments that we're proud of
XDAO has already helped to create more than 19000 DAOs with TVL over $30 m+, helping to manage funds safely and transparently for many DeFi projects, investment funds, GameFi guilds.
💰 Received a grant from the Moonbeam team 💰 Received a grant from the Oasis team 💰 Received a grant from the Astar team 💰 Received a grant from the Klaytn team 💰 Received a grant from the Aurora team 🏆 Won Binance SmartChain Hackathon 🏆 Won the HECO Hackathon and received 2 awards
What we learned
We have learned how to create a product that can significantly improve the DeFI ecosystem, make it more accessible, secure and transparent.
We prepared:
- XDAO Platform - https://www.xdao.app
- XDAO Modules - https://www.xdao.app/1818/modules • Private Exit module. Early burn of LP tokens. • Dividends module. Calculates dividend earnings per investor and allows to pay it. • Launchpad module. Creates initial Launchpad for crowdfunding. • Payroll module. Pay salaries to employees or other regular payments automatically. • Document Sign module. Document signing is more important than ever for organizations, not only in Web2 but also in Web3. So we came up with the idea to implement this crucial element for companies of all sizes in Web3. Document Sign module requires the following inputs for the creation of a document: Document file in pdf format. After uploading the user receives a file hash. Document title. Quorum type. There is an opportunity to sign the document by the current DAO quorum or by 100% quorum. Effective date. It is possible to sign the document only until the effective date. If the document is signed it takes effect from the effective date. Expiration date. It is optional to add an expiration date for your document. After the creation of the document, it should be signed by DAO members according to the chosen type of quorum. It will be shown in the document list on the module home page. It is also possible to find the document, by uploading it to the "Find Your Document" section.