The Daox Protocol is the new standard for all kinds of token sales that allows investors and startups deploy and interact via independent decentralized autonomous organizations (DAOs), enabling safety, efficiency, and decentralized decision making. Blockchain technology and the new crypto economy offered tremendous opportunities for investing and raising funds. As an outcome, they saw a skyrocketing growth of Initial Coin Offerings (ICOs) as the first widespread form of blockchain based investing.
|Hard Cap||20,000 ETH|
|Soft CAp||3,000 ETH|
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|Website||Click Here For Visit ICO Homepage|
Daox is proposing an advanced open-source technological solution and a unified protocol that is aimed at fixing the major problems related to token sales and crowdfunding. The Protocol allows for the deploying of decentralized autonomous fundraising organizations (Fundraising DAOs) on the Ethereum blockchain. These DAOs play the role of advanced intermediaries between startups and their investors, protecting interests of both sidesand 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 thereare tokens, and instead of the jurisdiction—a borderless blockchain network. The features of each DAO could differ, but the major goal is to motivate all parties to do its best for the project success.
How it Works
This section describes the concept of the Daox Protocol. Technical description, including detailed review of the source code can be found in the section 9.2 of this document. Each project in the Daox ecosystem is launched in the following steps:
A. ICOs and crowdfunding campaigns are easily launched using the Daox Protocol.
B. Each campaign then forms an Ethereum-based Fundraising DAO featuring its own ERC20 token.
C. Each DAO holds the raised funds and is managed by the transparent voting of its token holders.
Token sale using the Daox Protocol
Each genuine Fundraising DAO could only be deployed using the Crowdsale DAO Factory smart-contract on the Ethereum blockchain. In this way, it is guaranteed that the operating rules of the DAO remained unchanged. The deployment could be done either via the Daox Network in a user-friendly interface or independently via any Ethereum client. Right after the DAO is created, its author receives its address on the Ethereum Blockchain. From that point on, the newly created DAO is completely independent and governed according to its rules. If the project was created using the Daox Network, the user also receives a unique webpage address on daox.org.
Refund to Investors
Every token holder can submit a proposal for activating the refund mode. Such a proposal should be approved by 90% of all the tokens, excluding the number of tokens distributed when the DAO was established.If the voting is successful, the DAO is switched to the refund mode. The exchange is carried out proportionally to the number of tokens or the amount of contributions.
Right after the Daox and DXC token smart-contracts are deployed on the Ethereum blockchain, a completely independent and autonomous ecosystem is formed. Each DAO created using the Daox Protocol becomes a part of this ecosystem, that consists of investors, startups, developers, and third-party services integrated via the Daox Open API. The services and tools represented on the Daox Network (e.g. Integrated Affiliate Network) are third-party services, that participants of the ecosystem could optionally resort to. There is a marketplace for such services on the Daox.Network. Imagine hundreds of services for startups and investors that are easily accessible in a few clicks and also transparently rated by the community.
Advantages for Investors
Safety: all the proceeds raised and stored following the principles of Daox are protected from misuse and unauthorized withdrawal. The finances are securely stored in Ethereum smart contractsand could only
be used on project development. Therefore, scams and any other fraudulent activity are almost completely eliminated.
Daox Network is a group of software that allows for the interaction with the Daox Protocol and Daox ecosystem through a simple and user-friendly interface. The whole process of deploying DAOs and interacting with them is done in a user-friendly application called Daox Network (https://daox.network/). Startups can build their DAOs, with their own ERC20 tokens and start ICOs in a matter of minutes. Besides that, their is a marketplace of services and tools that are integrated via the Daox Open API.
Alex Kuvaytsev Project Lead
Jordan Pool Media Director
Alex Shevlyakov Product Lead
Anton Vityazev Tech Lead
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