What is Daox?
Fundraising DAOs play the role of advanced intermediaries between startups and their investors, protecting interests for both sides, and increasing the efficiency of the capital.
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 of that protocol 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 a startup are satisfied with the way the project unfolds, they approve such requests.
Each Fundraising DAO is modular. This means that its governance structure and functionality might be adjusted to the specific needs of each particular project.
The whole process of building Fundraising DAOs and interaction with them is done in a user-friendly application called Daox Platform. Startups can build their DAOs, with its own ERC20 token and start an ICO in a matter of minutes.
Besides that, there is a marketplace of services and tools that are integrated via the Daox Open API. Imagine hundreds of different services for startups and investors that are easily accessible in a few clicks.
For instance, a project can apply for rating report, or media publishing, or bounty campaign, or start banner advertising, right from the Daox Platform interface.
Daox Platform itself is not an intermediary, and it never has access to the funds. Each Fundraising DAO is completely independent, autonomous and only could be governed by its token holders. This makes the Daox a trustless solution.
The DXC token enables all the interactions in the Daox ecosystem, provides access to the Daox Platform services and discounts. It has a built-in functionality to be easily integrated with third party services.
Daox operates on the Ethereum blockchain network.