What is DXdao (DXD) and how does it work?

DXdao is a decentralized autonomous organization (DAO) that focuses on decentralized governance and the creation of financial primitives. Founded on May 26, 2020, the DXdao is built on the Ethereum blockchain and is a community-driven initiative that operates without traditional managerial or hierarchical structures. It represents a new era of decentralized governance, where the community has direct control over the project’s development and decision-making processes.

What is DXdao?

DXdao is a revolutionary project that aims to bring power back to the people by enabling community-driven governance. Unlike traditional organizations, DXdao doesn’t have a CEO, board of directors, or even employees in the conventional sense. Instead, it operates as a DAO, where the community makes every decision collectively.

The team behind DXdao is not centralized; it comprises passionate developers, researchers, and enthusiasts from around the world. These individuals believe in the power of decentralization and are committed to creating a platform where everyone has a say.

What problem does DXdao solve/what are its use cases?

DXdao addresses several challenges:

1. Centralized Control: Despite being decentralized in technology, many projects in the crypto space are still governed by a centralized entity. DXdao ensures that the power is evenly distributed among its community members.
2. Transparency: Every decision in DXdao is made through proposals, and every member can vote on these proposals. This ensures complete transparency in decision-making.
3. Innovation: With a community-driven approach, the project can tap into diverse ideas, leading to innovative solutions.
4. Interoperability: DXdao focuses on building DeFi (Decentralized Finance) primitives that can be easily integrated with other platforms.

How can I buy DXdao?

To acquire DXD, the native token of DXdao, follow these steps on CoinEx:

1. Create an account on CoinEx.
2. Navigate to the deposit section and deposit your desired cryptocurrency.
3. Once your deposit is confirmed, go to the market section.
4. Search for DXD and place a buy order.
5. Once your order is filled, the DXD tokens will be credited to your CoinEx wallet.

For a detailed guide on how to buy DXdao, please visit How to Buy DXdao.

What are the DXdao tokenomics at August 2023?

• Maximum Supply: Not set
• Total Supply: 148,977 DXD
• Circulating Supply: 0 DXD (as of the last data)

What was the initial token distribution of DXdao?

Here’s the initial token distribution for DXdao:

DXdao had a vesting schedule for its token allocation, especially for the private sale and the team.

1. Private Sale: Tokens allocated for the private sale usually come with a vesting period to ensure long-term commitment from initial investors. For DXdao, the private sale tokens typically had a vesting period that could range from 12 to 24 months, with a potential cliff period at the beginning.
2. DAO Development and Maintenance: The tokens allocated for development and maintenance, which often include the team and advisors, typically have a longer vesting period. For many projects, this can range from 2 to 4 years, with a cliff period in the first year to ensure team commitment.
3. Ecosystem and Community Incentives: These tokens are reserved for growing the community, partnerships, and other promotional activities.
4. Reputation Holders (Initial): These tokens were distributed to the initial reputation holders of the DXdao

The initial reputation holders for DXdao were determined through a unique process designed to ensure fair distribution and prevent undue influence from large token holders or “whales.”

1. DXdao Initial Reputation Distribution: The initial distribution of reputation, which is essentially voting power within the DXdao, was earned by participating in the “Magnolia (MGN) Locking” and “ETH Locking” during the DXdao’s initial setup phase.
2. Magnolia (MGN) Locking: Users could earn reputation by locking up Magnolia tokens. Magnolia tokens, in turn, were generated by trading on the DutchX trading protocol. The more one traded, the more MGN they earned. By locking up these MGN tokens in the DXdao, participants were awarded a proportional amount of reputation.
3. ETH Locking: To further diversify the initial set of reputation holders and allow those who hadn’t traded on DutchX to participate, there was also a mechanism to lock up ETH for a specified period. In return for locking up their ETH, participants were awarded reputation.

The idea behind this method was to ensure that the initial reputation holders were a diverse group of participants, including both traders from the DutchX platform and other interested parties in the Ethereum community. This system was designed to prevent any single entity from having too much influence in the DXdao’s decisions.

It’s essential to note that reputation in the DXdao does not represent token ownership but rather voting power. The DXD token is the economic token of the DXdao, whereas reputation determines governance power within the DAO.

What are the best wallets for DXdao?

To securely store your DXD tokens, consider the following options:

1. Hardware Wallets: Ledger Nano S and Ledger Nano X are among the most recommended for their offline storage capabilities.
2. Web Wallets: MetaMask, a browser extension, can be used for DXD since it’s an ERC-20 token.
3. Mobile Wallets: Trust Wallet or Coinomi offer mobile solutions for storing ERC-20 tokens like DXD.

Always ensure to keep your private keys safe and never share them with anyone.

How can I find more DXdao news?

Stay updated with the latest DXdao news and updates by visiting the following:

• Official Website: DXdao’s website
• Whitepaper: DXdao Whitepaper
• Twitter: DXdao on Twitter
• Reddit: DXdao Community on Reddit