In this blog interview, you’ll find insights about the XDAO project.
MEXC: Please briefly introduce the XDAO project. What are the core highlights?
XDAO is a multichain super-Dapp that allows you to create your own DAO with no code. XDAO is built for both for-profit and non-profit companies. Modular architecture empowers infinite scalability.
MEXC: How did you come up with the idea of developing XDAO?
In early 2019, when the cryptocurrency market was just starting to take off, Vlad, the CEO, and founder of XDAO was part of an investment DAO. Despite the growing interest in the collective management of crypto assets, there were few available tools to make it possible. That’s when Vlad had a breakthrough idea: what if anyone could become a venture capital firm and easily invest in lucrative deals, just like the big players with deep pockets? And so, XDAO was born, with the goal of democratizing the process of investing in and managing crypto assets through the use of DAOs.
But there was just one problem: at the time, using DAO tooling required a background in coding, which made it difficult for those without technical expertise to get involved. That’s when Vlad realized that what the market really needed was a way to create DAOs without the need for coding knowledge so that anyone could easily participate. And so, XDAO was created, with a user-friendly and visually appealing interface that made it easy for anyone to launch a DAO with just a few clicks.
Venture capital firms, indeed, have always had an advantage over individual retail investors. They have access to a larger pool of capital, allowing them to invest in larger deals and potentially earn higher returns. They also have teams of professionals who are skilled in evaluating investment opportunities and negotiating favorable terms. And, thanks to their industry connections, they often have access to deals that are not available to individual retail investors. But with XDAO, anyone can level the playing field and have the opportunity to participate in lucrative investments – become a VC, but in a better way.
MEXC: How do users create their own DAO through XDAO, and how does it work?
Are you ready to create a VC club and join the decentralized revolution? With XDAO, it’s easy to launch your own DAO in just a few clicks! Simply visit the XDAO website and press the “Create a DAO” button. From there, you’ll be able to choose a name for your DAO and select your board members. Once your DAO is set up, you’ll have access to a variety of powerful tools and resources to help you manage and invest your assets. We provided in-depth documentation called “Academy” that will help to understand the XDAO and find the tool you need.
MEXC: Can you introduce the team background and financing background of XDAO?
The XDAO team is a group of experts with a wide range of skills and experiences, including legal expertise, business strategy, and technical knowledge in the field of blockchain and cryptocurrency. We’re more than ready to tackle the challenges of this complex and constantly evolving industry.
At the helm is Vlad Shavlidze, CEO and founder at XDAO, who has a legal background and has been involved in the crypto world since 2018. He was a member of one of the first decentralized funds (an investment DAO) and has supported multiple blockchain protocols.
Zurab Shavlidze, CAO and co-founder at XDAO, brings a wealth of experience in government agencies and business to the table, along with a degree in International Business and Strategy. He’s been involved in crypto since 2017.
Egor Gavrilov, CTO, and co-founder at XDAO is a math major and scientist who has worked as a senior developer at Web2 and Web3 startups. Egor is also a popularizer and educator of Web3 technologies and Solidity development and even has his own YouTube channel with over 11k subs where he shares his knowledge of blockchain development.
In November 2022, XDAO successfully closed a seed round, with investors including DWF Labs, Telos Foundation, Grizzly Capital, Panony, and others. Together, we’re poised to make big things happen in the world of DAOs.
MEXC: DAO is still very early in the industry. Many DAO projects have turned into Meme projects in the end. What do you think of this?
DAOs may be a relatively new concept in the crypto space, but they’re quickly proving to be a force to be reckoned with. While it’s true that some DAO projects have failed or become memes, this doesn’t diminish the potential or viability of the concept as a whole. In fact, it’s still early days for DAOs, and it will likely take time for the industry to fully understand their potential and for best practices to be established.
That being said, it’s up to the creators of a DAO to decide how they want to use the organization and the tools and resources available to them. At XDAO, we’re committed to providing the necessary tools and resources to help DAOs operate effectively and make use of various add-ons. So whether you’re just starting out with your own DAO or you’re a seasoned pro, we’ve got you covered. Don’t let the setbacks of a few projects hold you back – the future of DAOs is bright, and the sky’s the limit!
MEXC: How to make DAO last longer? What problems can DAO solve for centralized organizations?
When it comes to venture capital, decentralized companies and funds operating as DAOs have a major advantage: transparency and decentralized decision-making. By using smart contracts to govern their operations and being transparent in their activities, DAOs can offer a level of accountability and visibility that traditional VC firms can’t match. This can be especially important in an industry where trust is key, and where investors need to be confident that their funds are being used appropriately. Just look at the FTX/Alameda case as an example of what can go wrong when there’s a lack of transparency and proper decision-making processes in place.
But the benefits of operating as a DAO don’t stop there. With a decentralized decision-making process, all members of a DAO have a say in the direction of the organization and the investment decisions being made. This ensures that the interests of all members are taken into account, rather than just those of a select few. In short, DAOs are the best alternative to centralized venture capital firms, offering transparency, accountability, and trust that are essential for success in the industry. So why not join the decentralized revolution and launch your own DAO today?
MEXC: What is the $XDAO token, and what benefits can users enjoy?
If you’re a part of the XDAO ecosystem, you know that the $XDAO token is an essential piece of the puzzle. Not only is it required to access and use the platform, but it also unlocks a range of valuable services and pro tools, such as legal frameworks and tokenomics.
But the benefits of $XDAO don’t stop there. As a holder of the token, you also get a say in the governance process of XDAO. That means you get to have a direct impact on the direction of the platform and which features are released next.
And that’s not all – the $XDAO token will also serve as a link between the various XDAO apps that are either already launched or in development. So not only does it give you a say in the platform’s future, but it also connects you to the wider XDAO ecosystem. All in all, the $XDAO token is a vital part of the XDAO protocol, and we can’t wait to see all the amazing things it will make possible.
MEXC: Which companies or project teams do XDAO work with?
At XDAO, we believe that partnerships are key to building a strong and successful ecosystem. That’s why we carefully select the protocols we work with, choosing only those that can bring value to both parties.
We have two types of partnerships: infrastructural and ecosystem. Infrastructural partners are projects that share our vision for DAOs and decentralization. These partnerships help us build a solid foundation for the future. Our infra partner is Link3.to where we host AMA events, you can find us here. Another partner is Crew3 – we have an XDAO questboard where users can do some social tasks and earn.
Ecosystem partners, on the other hand, are DAOs created on XDAO that want to be part of the public scene. These partnerships allow us to showcase different DAOs built on XDAO smart contracts, provide support to them and help to obtain a wider audience. These DAOs represent a variety of industries, including health financial projects, crypto VCs and even DAO funds that invest in both crypto assets and real-world assets like gold mines and real estate.
It’s worth noting that we’ve received over 20 ecosystem awards from the blockchains we support, and we’re in close connections with all of them. We’re always on the lookout for new partnerships that can help us grow and thrive, so if you’re interested in working with us, don’t hesitate to reach out!
MEXC: What is the current number of DAO creations and user volume of XDAO? How will it expand its market share?
As of today, Dune analytics reports a total of 78 DAOs launched by XDAO on the Ethereum blockchain, 2,636 on the BSC blockchain, and 18,997 on the Polygon blockchain. These numbers speak to the growing popularity of DAOs and their potential to transform organizations everywhere.
But it’s not the limit – as more and more people come to understand the convenience and benefits of DAOs, we expect their use to continue to rise. That’s why XDAO is always working to build new partnerships and collaborations and to deliver updates and tools for DAO creators.
In the coming months, we’ll be introducing a new and improved version of XDAO that is even more user-friendly and easy to set up. We’re also looking to onboard companies from the traditional world so they can experience the benefits of decentralized governance firsthand. With XDAO leading the way, the future of decentralized organizations is looking bright.
MEXC: What is the next step of XDAO?
We’re excited to announce that XDAO is working on creating a unique decentralized exchange specifically for DAOs. This exchange will allow DAOs built on XDAO to attract investments in a safe and secure environment, free from scams and ragpulls.
We’re committed to bringing the most innovative features to the table to make XDAO a leader in the industry. With our new decentralized exchange, we’re confident that we can help DAOs reach their full potential and achieve success. So, stay tuned for updates on this exciting project!
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