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The raised funds are stored in a separate DAO and could only be partially withdrawn based on proposals submitted by the startup team. These proposals are being approved or declined by the token holders. Thereby, the team is highly motivated, while scam token sales are eliminated.
Each investor or startup team can initiate decentralized and transparent voting among the token holders. This helps in making key decisions and ensure that these decisions are supported by the community of token holders.
The refund mode is the core functionality of the protocol. Startup token holders can vote for the return of remaining funds if they are unsatisfied with the way the project unfolds, or if the project turns out to be a scam.
The governance structure and functionality of each DAO might be adjusted to the specific needs of a project. For example, authors could start a simple DAICO issuing utility tokens, or create an organization that will pay dividends, or offer equity-based tokens. Modules are developed by the third-party developers and are connected to DAOs via the DXC Token.
Daox is a completely open ecosystem, therefore neither developers of the Daox platform, nor any third parties can restrain the use of it.
First of all, each DAO created using Daox is completely independent and resides on the Ethereum blockchain. Secondly, neither the team of Daox developers nor any third parties have access to the collected funds that are stored in DAOs. Thirdly, the source code of Daox is open and we provide its detailed description.
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 the project’s flexibility.
Every token holder can submit a proposal for activating the refund mode. Such a proposal should be approved by 90% of the tokens, excluding the number of tokens distributed to the team when the DAO was created.
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 contracts and could only be used on project development. Therefore, scams and any other fraudulent activity are almost completely eliminated.
In escrow, the adoption of decisions is centralized and the interests of some individuals may not always coincide with the interests of most investors.
Not a problem. Daox-based DAOs only allow for withdrawals to the addresses of project initiators. Therefore, having 51% ownership gives enough power to approve any proposal to the team's addresses.
Sure. Each time a DAO is created using the Daox solution, separate ERC20 compatible tokens are created too. Besides the ERC20 and Daox functionality it is also available to add any custom functions.
No commission is charged when using Daox or during the crowdfunding campaign via DAOs created on the Daox platform. Commission is only charged when an investor comes from the daox.org catalogue. But it is possible to opt out from being listed in it.
Our company is being incorporated in Dubai. But we also have offices in Spain and Russia.