DAOx: cryptocurrency fundraising platform

The popularity in cryptocurrencies has gone through skies in the recent times. There are many companies who are releasing their own token and organizing ICO to generate funds for development. According to stats released by coindesk, total cryptocurrency crowdsale was worth more than 3.5 billion USD. WOW!! Those are some serious numbers. So, I decided to find out that how these ICO work.

I was surprised by the number of loopholes in the current crowdfunding model. You will not believe the fact that it is so easy for any fake company to organize their ICO. But what's the result? People end up losing billions of dollars in these scams. There is no transparency in the process. Even if you are investors in that company, you will not be able to have a feeling like you have any power to control how the company works.

I also found out that there were many times, companies take money from the investors but take decision according to their wish. That is nothing more than Dictatorship. So, I started looking for any solution which can turn the table in the favor of investors. Much to my surprise, I was able to do so within a couple of hours - DAOx. So, I did deeper to find out more details about the company.

DAOx platform

DAOx is a decentralized fundraising platform which aims at providing an interactive alternative to ICOs and various other crowdfunding solutions across the globe. The platform will have a fewer restriction (in terms of geographical and legal) which will improve the crowdfunding process. DAOx will also allow users to exchange any cryptocurrency for any released ERC 20 tokens.

Startups along with their investors can register on DAOx platform. The platform will give power to investors and any withdrawal from the account cannot be made without their permission. So, basically, investors will have all the power to govern the expenditure and plans of the company. After successful completion of the project, founders will be able to distribute tokens to investors (as happens in regular ICOs).

There are certain rules and regulation which the companies need to follow to register on the website. The project needs to be approved by the moderation of the platform. This will make the platform more efficient and secure as fraud companies will not be able to fool the investors.

But the feature which impressed me a lot is that investors can take back their money. If the majority of investors think that their money is not being used well, then they can dissolve the DAO and take back remaining tokens. But, again this process has to go through moderation.

The platform will not charge any fees from the users except while finalizing the investment. DAOx will charge 4% of the total funding as their fees (only after successful investment).

ICO and Team

DAOx uses ERC20 token which is created on Ethereum blockchain. The company has released 300000000 DXC token for the sale. The company will organize a pre-ICO sale from 20th June 2018 - 30th July 2018 and main sale from 31st July 2018- 30th September 2018. The tokens will be sold at a rate of 1 DXC token= $0.20 USD. However, you need to remember the fact that you can only use Ether to buy these tokens.

DAOx is led by an experienced team who are determined to achieve their aim.

Conclusion

DAOx will launch its integrated Affiliate network in September 2018 with the launch of KYC service on the platform in October. The company will also launch its open API in October. Beta version of DAOx will be launched in March 2019 with the full version scheduled to be released in Q1 2020.

It is one of the companies which has impressed me a lot. It is not because of the outstanding idea but how they have implemented that idea. Their planning looks good and they have an experienced team to back them. The company also have a great business plan which gives me confidence that it will achieve a certain level of success.

The idea of empowering the investors can make the jobs of companies much easier in determining how they are going to tackle the development of the product. I believe that you should not think twice before investing in this company.

Do let me know your thoughts on DAOx? Do you think that this platform will be able to draw the attention of small startups?

Website- https://daox.org/

Whitepaper - https://daox.org/#WhitePaper

ANN - https://bitcointalk.org/index.php?topic=2811642.80

Telegram- https://t.me/daoxchat

Twitter - https://twitter.com/daoxorg

Reddit - https://www.reddit.com/r/DAOx/

Published by - dannywhelan

Profile - https://bitcointalk.org/index.php?action=profile;u=1606458