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HomeCOINSWhat Is AvaxDAO (AVAXD)? Complete Guide Review About AvaxDAO.

What Is AvaxDAO (AVAXD)? Complete Guide Review About AvaxDAO.

What Is AvaxDAO (AVAXD)?

AvaxDAO is the next evolution of the reserve currency protocol. The DAO uses its protocol-controlled value to reward token holders with high yields, while using its treasury reserves to invest in and incubate innovative projects. Unlike first-generation reserve currency protocols, the goal of DAO isn’t just to grow its market cap and treasury from bonding DAO will also use 10% of bond profits to invest in high-quality crypto assets, effectively turning the DAO into an on-chain Innovation Fund. The DAO core team has a diverse background and worldwide presence. The team includes folks with backgrounds in crypto venture capital, software engineering, graphic design, marketing, and more. They’ve been working together for the last several months on the project and look forward to where the DAO goes as a community.

AvaxDAO Storage Key Points

Coin BasicInformation
Coin NameAvaxDAO
Short NameAVAXD
Circulating Supply11,000.00 AVAXD
Total Supply200,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

What exactly is the Innovation Fund?

As stated above, 10% of bonded assets will be directed to a fund that will be used to incubate and invest in new, disruptive projects. AvaxDAO will be highly involved, helping ideate projects and helping founders build their projects from the earliest stages. The Innovation Fund will also be used to invest projects that are further along but have yet to launch their token, giving token holders early exposure to projects they otherwise wouldn’t be able to invest in. Your network effect, community engagement, and synergies will allow to build and scale projects quickly and efficiently; while providing investors with an unparalleled opportunity to invest in early-stage crypto projects.

How will these startup projects be vetted?

The core team & DAO leadership will actively perform due diligence on the projects. They have a robust team, including those with early-stage investing experience, marketing, product management, design, and engineering. This will all go into vetting the projects that consider investing in. Additionally, any use of funds make from the treasury will be voted on by the DAO (token holders). DAO leadership will present their findings to the rest of the DAO and then hold a vote.

How will you mitigate risk when choosing projects for the innovation fund?

AvaxDAO invest in will likely be at a later stage, closer to their launch, so those inherently are less risky and will be able to see community, traction, and product. For earlier projects that are less proven, they plan on having a very active relationship with those teams, helping them incubate and grow. This even envision ourselves having developers reach out to telling that they want to build something, and providing them with an idea and infrastructure to start. Your team comes from a variety of backgrounds, including crypto venture capital investing, blockchain development, product management, and marketing. Additionally, the DAO will vote and ultimately be the arbiter of any decision made by the Innovation Fund.

What can you do to assure the community that this is not a rug pull?

All of your code will be open source. AvaxDAO had various community members peer audit your launch contracts and all funds from your launches ($11.6 million!) have been safely withdrawn to your MultiSig. All of your contracts are MultiSig and they are looking to onboard reputable, third-party advisors to your Main Treasury and Innovation Fund MultiSig wallets. They have engaged a premier, top-tier audit firm – Paladin – to audit your code on a rushed timeline, which they have started reviewing. They expect to receive the preliminary audit results in January 2022.

What are the networks you first had in mind when branching out?

At first, the focus will be around AvaxDAO projects. They are extremely bullish on AVAX and its ecosystem and have gotten some incredible support/partnerships, so naturally, they will be very active there. Mid/long-term, they definitely plan on getting involved with other chains. EVM compatible chains will be the first stop due to the ease of integration. They will let the community vote on which chain to expand to next once are ready.

What are you doing to innovate?

AvaxDAO have a lot of ideas for how we can add value to the protocol. A few protocol design ideas have discussed:

  • Implement vesting schedules for bonds, where the user can receive a higher ROI if they opt to vest their tokens over a longer period of time (rather than a 5-day standard)
  • Implement a diamond hands bonus for staking, to incentivize (AVAXD,AVAXD)
  • Add “zapping” liquidity to your protocol for ease of bonding LP pairs
  • Generate yield on your stable coins. Given the number of stable coins they will have in your treasury, they will certainly be exploring how can best generate returns on these assets
  • Develop protocols under the Avax DAO name. They already have various ideas for projects they want to develop, all of which are synergistic to your primary protocol
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Nile
Nile Is Very Old Author At Wootfi Blog . We Loves To Write About Altcoin , ICO & Defi . In Free Time He Loves To Play Football .