DAOX is a fundraising ecosystem and a platform that provides a complete solution for crowdfunding based on the concept of a decentralized autonomous organization.
Here are some examples of kinds of projects that could raise funds using the DAOX platform.
DAOX utilizes the power of blockchain technology and the new cryptocurrency movement to radically improve the process of mass investment. We’ve developed an ecosystem in which anyone can raise funds or invest, without geographical or legal restrictions.
Anyone can create an organization on the DAOX platform. Nobody can constrain the use of DAOX contracts, because they are in the public domain of the Ethereum blockchain.
In normal fundraising projects, the sponsors receive the full value of funds. In DAOX, investors and sponsors run an independent decentralized organization and distribute funds within it. The project team has the ability to request tranches that voting members can approve or reject. If investors deem that the team is unable to cope with the intended purpose, they can be fully refunded.
In escrow, the adoption of decisions is centralized and the interests of some individuals may not always coincide with the interests of most investors. In DAOX, those who invest their own funds make the decisions.
Not a problem. DAOX rules only allows for withdrawals to the addresses that the project initiators provided, when creating a DAO. Therefore, having 51% ownership gives the initiator the right to approve the withdrawal of all of the funds to the team's addresses. However, this makes no sense, because if the purpose is to deceive other investors, the value of the tokens will fall and the majority owner will suffer the biggest losses.
Yes, every investor can submit a proposal to dissolve a DAO and if the majority votes in favor, the remaining funds will be divided among the owners of the tokens. Frozen tokens are not taken into consideration in this scenario.
Yes, all tokens correspond to the ERC20 standard. Thus, immediately after these tokens are released, they can be placed on exchanges or transferred.
Depending on the objectives of the project, the authors can distribute new tokens or start paying the dividends.
Not necessarily, the project can announce its spending plan and comply with it; however, project initiators can require a withdrawal of any amount from a DAO. If the request makes sense, investors will approve it. This kind of approach maintains project flexibility.
No, the source code for the DAOX contracts is open and anyone can use it at their own discretion. Right after the creation of a DAO, creators will get an address to transfer funds to directly. Although, if an investment occurs via the daox.org service, the commission amounts to 4%.
DXC is the cryptocurrency for DAOX ecosystem. This token is used to invest in DAOX-based organizations.
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