xDAO is an innovative DeFi platform which allows anyone to easily create Decentralized Autonomous Organizations – DAOs – for the joint management of crypto assets. The platform is powered by BSC, ensuring low transaction costs, high reliability and sufficient speed.
An Easy Way to Create Your Own Decentralized Autonomous Organization
Launched in April 2021, xDAO is the first and the only DAO-builder on the Binance Smart Chain (BSC). The protocol allows users to combine crypto assets from multiple partners and manage them in more efficient and secure way by using auto-generated smart contracts. A clear voting system also allows users to make collective decisions and be confident in their exact execution.
xDAO offers a perfect solution to anyone who wants to easily pool resources to mange crypto assets as a DAO. The need for the service is virtually endless and includes potential users such as venture capital funds, public funds and foundations, new tech startups and freelance groups. The holders of governance tokens of a DAO created on the platform will be able to jointly manage the organization’s finances; store various coins and tokens (including NFTs); determine the procedure for onboarding new members; establish rules for the minting and burning of tokens and interact directly with other DeFi protocols.
By utilizing the BSC blockchain, xDAO offers several major advantages to potential DAO creators such as avoiding affordability and performance issues. Demonstrating the community support for such a service, xDAO has won a Binance Smart Chain Hackathon in April for the development of the project.
In May, xDAO passed a security audit by Pessimistic. Now the development team is working constantly on upgrading the user experience on the platform. Next they are preparing for the announcement of the native token ($XDAO) and get started with the development of the second version on multi-chain (including Ethereum, BSC, Polygon and Solana). V2 is planned to be be ready by Q4 2021 and will also see the launch of the Open Source Web 3.0 extension (like MetaMask) to interact with all DeFi protocols.
xDAO is already fully integrated with top DeFi protocols on BSC such as 1inch:
🔥xDAO App has plugged the industry leading DEX aggregator @1inchNetwork 🔥
— xDAO (@xdaoapp) May 25, 2021
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