Crypto Society Ama Recap with XDAO— 12 October 2022
XDAO is a amulti-chain DAO builder for jointly managing crypto assets and DeFi projects.
XDAO is an Expanding DAO Ecosystem Built for a Decentralised Future.
Bilo | Crypto Society
Hi @anngel_eth It’s our pleasure to have you with us today. I would like to welcome you here on behalf of our entire community.
Ann | XDAO
Hello Bilo! I’m really excited!!! Thanks for inviting me to speak today!
Bilo | Crypto Society
Could we begin with a brief history of yourself and your team and your roles at XDAO and what you were doing before XDAO?
Ann | XDAO
Of course!
Nice to meet you, Crypto Society! My name is Ann or Anna depends on the situation lol
I’m a chief marketing officer at XDAO and I am also a member and contributor to different DAOs. In XDAO I take care of marketing strategy, user education and community health.
My marketing experience is 4 years and I have been in crypto since 2019…
Once I first learned about DAOs I was kinda mesmerised with the opportunities they can bring to the people of the future. So when I joined the XDAO team it was amazing!
Our team consist of the same DeFI and crypto enthusiasts as myself. And we share the same mission and vision to popularise DAOs.
Bilo | Crypto Society
That’s awesome. Thanks for the background on you and your team.
What is XDAO and why was it created?
Ann | XDAO
Yea, so…XDAO was created with the idea to make DAOs the place for crypto mass adoption by providing the tools for groups to control mutual treasury, build communities and invest in DeFi.
In short, XDAO is a fully customisable DAO builder (also known as tooling) for treasury management, multisig wallet and the platform for investment. DAOs on XDAO can be any-sized companies.
So with XDAO you can create:
🔹Family and friends club with mutual budget;
🔹DAO Investor Syndicate;
🔹You can also run your project and social club on XDAO;
🔹 Even a company on the blockchain;
XDAO provides you with all the necessary tools in one place.
Our DAOs can pay salaries (!) to employees (suitable for projects and organisations), can distribute dividends (suitable for investment DAOs) and much more. We are still adding more features to our DAOs to cover as many use cases as possible.
Bilo | Crypto Society
That’s really cool. The use cases seem to be endless.
Ann | XDAO
Your imagination is a limit hehe…….
But we want to focus on DAO for Investment first!
Bilo | Crypto Society
How did XDAO start? And when do you plan on launching?
Ann | XDAO
The idea of the project was born in the developing cryptocurrency market in early 2019.
CEO and founder of XDAO, Vlad, was a member of one of the investment DAOs.
There were very few DAO toolings available at the time, and there was a growing interest in joint management of crypto assets.
In general, it is worth noting that the need for co-management of crypto-assets has always existed; as we know, venture capital companies have large financial resources and, due to this, can intelligently diversify risks. Under the creation of the DAO, it was assumed that everyone could become a venture capital fund and easily enter into the most lucrative deals.
Bilo | Crypto Society
Brilliant
Ann | XDAO
But at that time DAO tooling still required coding knowledge from managers….which significantly limited the threshold for entering the field.
Then Vlad realised that DAO creation without knowledge of development, democratisation of the process of investing in and managing crypto assets is what will be popular in the near future.
The name XDAO was chosen because it sounds succinct and catchy btw ;). And our DAO managing interface is also very clean and well-designed.
So that it actually the backstory how it is all started
Bilo | Crypto Society
Excellent. Thanks. Always love hearing how it all started.
Ann | XDAO
Agree, such stories always encourage !
Bilo | Crypto Society
Would you consider there to be any competition to XDAO and if so, what is XDAO’s advantage over its competitors?
Ann | XDAO
This question is mostly for those who have already faced with some DAO toolings.
If you are familiar with how the Gnosis Safe works, it is a multi-signature wallet, then XDAO uses the mechanism of governance token counting instead of the concept of one wallet — one signature. On the other hand there is Aragon. Aragon is a very flexible tool for creating DAOs, but it also requires programming skills from the user.
So, on the one hand we have a very simple solution in the form of Gnosis Multisig, which works simply but not customisable, on the other hand we have Aragon, which is too complex to manage and use.
XDAO is exactly in the middle: you still don’t need any programming skills, but you can make a DAO specifically for your tasks.
Bilo | Crypto Society
That again is brilliant as many users would want the additional options but don’t have the technical skills to manage them. Well thought out!
Ann | XDAO
Our innovation is to give the DAO creators and managers governance rights (by issuing governance tokens, or GTs), while investors will be able to have a share in the DAO (by purchasing and holding liquidity provider tokens, or LPs).
This idea of separating voters from investors is really fresh and a bit different from how DAOs are managed now…but it is more secure!
Anyways, investors can ALSO have this voting right, and a DAO can work in such a way that investors are represented in the DAO government.
Bilo | Crypto Society
My mind is racing with all the possibilities here 😅
Ann | XDAO
I would recommend u to take part in our L2E (learn to earn) program then!
Bilo | Crypto Society
For sure!!! I actually have a question coming up on this 🙂
Which chain have you selected to start with and why and do you plan on branching out to subsequent chains and why?
Ann | XDAO
2 years ago we developed our 1st version initially on BNB Chain and then added Polygon as another big and cheap blockchain breaking the mainstream notion that DAOs can only exist on Ethereum.
Bilo | Crypto Society
They most certainly can exist outside of Ethereum 🤨
Ann | XDAO
When we rolled out our 2nd (current) XDAO version, we avoided many unnecessary features and also made a tech design in this way that we can add any EMV-compatible blockchains with less pain.
So this is how “the first multi chain DAO builder” appeared!
Now we are covering 30 blockchains⛓! All of them you can check on our interface.
Bilo | Crypto Society
😂
Ann | XDAO
gaaaas feees >_< I know I know and agree…
Bilo | Crypto Society
30 chains??? Wow. This is not a typo right 😅
Ann | XDAO
Obviously not!
Bilo | Crypto Society
I see that you have a learn to earn campaign. I love this. Tell us a little more about it please.
Ann | XDAO
Yes, long-awaited event for us actually!
DAOs are not something that you’re gonna understand by participating in 1 AMA with XDAO :)
So for the newcomers we have some special news! 🎉
We are launching XDAO City Quest on 13th of October.
It’s a learning game that will help to understand the DAO subject and the XDAO platform more easily in comic book form.
All the details you can find here 👉
Bilo | Crypto Society
Ann | XDAO
We highly recommend you to take part in this game, especially for those who were already planning to dive into the DAO topic. It will take place on BNB Chain and BNB chain supported
And the prizes are guaranteed: We all love NFTs and it will be never enough if it’s something that was created with love and on purpose. Some other prizes will be announced later
There is not so much time left. The last opportunity to join the quest will be 3rd of November.
So, please, hurry up!🤩
Bilo | Crypto Society
Could you please explain to us what XDAO Pro is?
Ann | XDAO
Sure, XDAO is absolutely free and open source. However, we understand that sometimes people don’t have the time to dive deep into details but they have a DAO concept in mind.
XDAO Pro is a service which is a fee-based consultancy service for the creation of unique DAOs, exclusively according to the client’s wishes. We help with all the specifics of organisation, tokenomics, and the development of unique add-ons. With XDAO Pro a user will have ready to use DAO with no pain.
done!
Bilo | Crypto Society
Understood. Thanks
Take us through the monetisation of the utility behind XDAO. Do the token holders directly benefit from XDAO’s subscriber base via B2B or B2C commerce?
Ann | XDAO
As being said, we seem to be a free project.
However, we are launching our token and this will be a game-changing event.
First of all I’d like to emphasise that the token is not launched yet
But soon it will be and here is the announcement.
Bilo | Crypto Society
Can you describe the Tokenomics and the vision behind XDAO? And What about token utility? When is the token launch for XDAO?
Ann | XDAO
So, It’s all set, our token $XDAO will be released on Ethereum on October 20 1 AM UTC on the Uniswap exchange so everyone will be able to purchase it on the DEX.
This will be actually a Public Sale, we did not release the token on the Launchpad for natural security reasons of retail investors.
The value:
🔹 XDAO token holders will participate in DAO decision making process;
🔹 XDAO token holders will be able to use XDAO premium features such as additional modules and will unlock special dashboards;
🔹 XDAO token holders will be benefitted from the future XDAO products;
🔹 You can buy a consulting from XDAP Pro team with XDAO token;
Bilo | Crypto Society
Are there any partners that you would like to highlight?
Ann | XDAO
Definitely!
Among the partners I would like to mention ✨ Crypto Society ✨ as our strategic partner and investor.
Bilo | Crypto Society
Ann | XDAO
Really proud of it!
Generally, we have two types of partnerships:
1) Infrastructural;
2) Ecosystems;
Infrastructural partners are projects with which we share the same view on DAO, on decentralisation.
Ecosystem partners are our DAOs that are established and want to be public. They include projects that hold tokens in the DAO treasury, as well as at least two Health Financial projects, VCs that invest not only in crypto assets, but also in real things, such as gold mines (DAO Ark)
Worth mentioning that we have got 🏆 20+ Ecosystem Awards from blockchains that we support and with all of them we are in close connections!
Bilo | Crypto Society
How do You see XDAO’s contribution for the adoption of Blockchain Technology.
(You’re only allowed to answer with a maximum of 10000000000000 words)
Ann | XDAO
Ahahhaha, I’ll be short.
DAO is the opportunity for people to learn how to invest crypto in a safely way using DAO consensus mechanism, XDAO just provide it!
Simple!
Bilo | Crypto Society
I think DAO’s are the backbone of blockchain technology and adoption. It’s what will truly separates Web3 from Web2 and what truly measures decentralisation. You are in the heart of it with XDAO.
Ann | XDAO
Yes, DAO have a lot of power, growing community etc.
Bilo | Crypto Society
Could you please provide us with some challenges XDAO has faced but overcome?
Ann | XDAO
This is not an easy question btw.
Maybe the most challenging for us was to launch our Ambassador program because we are a small team yet.
And this flood of new participants shocked us a little bit! But fortunately, we found strong community leaders who have been supporting us for all the time :)🥰
Bilo | Crypto Society
Congrats! That’s a great sign of success
Ann | XDAO
Indeed!
Bilo | Crypto Society
Is there any exclusive breaking news about XDAO that you could share with us here today?
Ann | XDAO
Let me think, we briefly covered a lot of things actually!
There are 2 upcoming events: XDAO City Quest and Token launch. These are most important for us now.
But I strongly recommend you to subscribe to our social media so you never miss something!
Bilo | Crypto Society
Do you wish to let us know anything else that was not covered in the questions above?
Ann | XDAO
Where do you see the XDAO project next year? I would love to be asked
and the answer is………
We want to be a DAO tooling number 1! So when people ask “Where is your DAO created?” Everyone says “On XDAO of course!”
Bilo | Crypto Society
Thank you for your time in answering our questions here today. We are all very appreciative of your time and of the answers you have provided.
With this, we will open up the chat for those who wish to personally thank you for your time with us here today.
🏆🔥Prizes🔥🏆
Best 5 community questions will be chosen by XDAO to receive one of 5 Community Pass NFTs with the following utilities:
NFT utilities/features:
- Access to XDAO private chat with core team.
- Access to information about future products before others.
- Art is made by Famous Artist Pokras Lampas.
Ann | XDAO
I’m ready for that!
Yannik
Thanks for the awesome AMA!
I really like the concept of L2E
Will there be any educational Videos on Youtube or are you going to stay totally focused on your own Educational Platform?
Ann | XDAO
Hello @Sekitanair your question I gonna pick the first.
We actually plan to expand our team to roll out more educational content. And some of our competitors usually pick this strategy.
We decided to make it in the form of social event.
At the same time, our XDAO City Quest will lead you through the XDAO platform and will help to sort it all.
Our goal is to bring more people to DAOs and raise awareness about what DAOs essentially are. We are sure that after the Quest some of our participants will have an idea of their future DAO. That is the main reason for making this campaign
CryptoZ
Hello, given all the regulations coming down in crypto. How does XDAO ensure new DAO formations are abiding as best as they can to whats currently there, in addition does XDAO offer any sort of insurance?
Ann | XDAO
Hello @cryptoz_dev ! Your q is no.2
We think about legal aspect of DAO and even release an article on CMC (https://coinmarketcap.com/community/articles/36589) about it.
So this is our next step to find the solution how to register DAO legally in some place in the world. Considering insurance, it’s up to the DAO because we provide the wrapper for your DAOs.
Now only tech wrapper
Later also legal wrapper
Clarasaktii💕
I read that Governance tokens can’t be transferred directly from one wallet to another. So, how then can users get the GTs? Also, will users need to pay to be able to vote?
Ann | XDAO
Hello @Clarasaktii your q is no.3
GT can be obtained in 2 cases:
1) at the DAO creation moment when DAO creator initially distribute Governance tokens.
2) any time later but adding new member will require existing DAO members to vote for every new candidate.
We use Hybrid voting system so no need to pay gas fees during voting process. More you can learn in our Academy or during the XDAO City Quest!
puzzle123
Maybe you can answer my question:
Is there a minimum number of participants necessary if I want to found a DAO with XDAO?
Ann | XDAO
Hello @puzzle123 your q is no.4
You can create an invest club with 1 person…technically speaking. Indeed, there are some projects on XDAO with only 1 member. They are Syndicates where one trader decide how to move investors’ money. This form suits for USA citizens.
Kirara ™
Is there a vacancy for me to become an ambassador, or Does Xdao have any plans to recruit a new team?
Ann | XDAO
Hello @Kirara_0x ! I want to pick this question because WE ARE HIRING RN
We need Business devs only for now, later will add more vacancies. How to apply?
Link here (https://docs.xdao.app/xdao-info/work-with-xdao)
Ann | XDAO
Take part in XDAO City Quest please for NFT. And Beyond.
Congrats to all! Thanks a lot!
You are amazing Crypto Society !
Relevant Links:
XDAO Website:https://www.xdao.app
XDAO Telegram: https://t.me/xdao_eng
XDAO Twitter:https://twitter.com/xdaoapp
Crypto Society Chat: https://t.me/cryptosocietyy
Crypto Society Announcements: https://t.me/CryptoSocietyyy
Crypto Society Twitter: https://twitter.com/cryptosocietytg
