The main point of creating XDAO is that we simply want to make Decentralized Finance more accessible for people. The days of Blockchain Technologies being something distant and terrifying are over. A new era of free, simple, clear, and secure financial management is dawning!
What it does
In a very simple terms, XDAO is a platform for creating and managing Decentralized Autonomous Organizations. To create your own DAO, you no longer need to understand the code or be able to write a smart contract. With XDAO it will take you less than one minute to create your own Decentralized Autonomous Organization.
How we built it
We launched the first version in April 2021, our second version was launched in November 2021. With the launch of the first version, we realized what the DeFi market needs and what tools it lacks. We have implemented all these needs in the second version:
- Multi-token system (LP for investors and GT for core team)
- Direct connection of DAO to DeFI protocols
- Hybrid voting
- Ecosystem for DAOs
- Modular system
- Multichain support
Challenges we ran into
- Creation of secure and simple smart contracts (we've created secure smart contracts that successfully passed two audits)
- Implementation of DAO connection directly to DeFi protocols
Accomplishments that we're proud of
XDAO has already helped to create more than 700 DAOs with TVL over $100 m+, helping to manage funds safely and transparently for many DeFi projects, investment funds, GameFi guilds.
💰 Received a grant from the Polygon team 💰 Received a grant from the Aurora team 🏆 Won Binance SmartChain Hackathon 🏆 Won the HECO Hackathon and received 2 awards
What we learned
We have learned how to create a product that can significantly improve the DeFI ecosystem, make it more accessible, secure and transparent.
For the XDC dApp Summer Hackathon
We prepared Payroll module. The idea is to pay salaries to employees or other regular payments. Payroll module has the following parameters: • Recipient - address of the employee who receives payments. The address can be a software, cold, exchange wallet, as well as a DAO address; • Start Payroll Date - payroll start date. The date of payment can be any, including the past, for example, if the employee has successfully passed the probationary period and after 30 days will receive a salary; • Uncheck the Perpetual Payroll item if the payout you receive must be specified for a certain period, and specify the payout end date in the Payroll Active Until item; • Currency - address of the smart contract of the token, in which the payment is made; • Amount - the final 30-day payment. If the contract expires in less than 30 days, you still need to indicate the payment for 30 days in the “Amount” column. Divide the salary by the number of days to find out the amount of daily payments, and then round the salary up to 30 days. Payouts will stop according to the date specified in the Payroll Active Until.
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