DAO meaning in Cryptocurrency ?
Answer: What Is DAO Maker (DAO)?
DAO Maker is a platform that aims to redefine venture capital for the masses, by providing scalable technologies and funding support to tokenized startups. This venture capital fund was first conceptualized in 2017. It has since evolved to create low turnout frameworks, which has enabled many retail investors and individuals to become active in venture capital. When funding through DAO Maker, the risks for both parties – the investors and the startups – are significantly reduced.
The DAO Pad is a multi-investment platform that allows DAO Maker’s community members to stake DAO tokens into the DAO Maker Vault. This allows them to participate in public, private and seed rounds of funding, thereby incentivizing the most loyal and active members.
DAO Maker energizes the community and encourages them to participate in the progress and expansion of the projects hosted on the platform through social mining. Social mining allows startups to leverage token holders to become successful decentralized autonomous organizations (DAOs). This improves the economic output of token holders, reduces free-ridership issues and turns flippers into holders. It also offers various risk levels to accommodate a wide range of risk appetites, thereby significantly expanding the audience.
Who Are the Founders of DAO Maker?DAO Maker started with two people – Christoph Zaknum and Giorgio Marciano. Before creating DAO Maker, Christoph had previously studied mechatronics. However, he was a medical student at the time of the invention. On the other hand, Giorgio has more than 16 years of experience in the software and development industries. As CTO, he leads the company’s technology development for software and products.
Currently, the team consists of more than 20 people. Christoph Zaknun, the current CEO of DAO Maker, is the founder of the company. Following a successful foray into the world of cryptocurrencies and investments in Bitcoin Cash, he began concentrating his efforts on learning and developing blockchain technology. This culminated in the creation of ICO Dog – a platform for investing in pre-sales. Following his initial success with the platform, he met Giorgio Marciano, who he co-founded DAO Maker with in 2018.
What Makes DAO Maker Unique?DAO Maker is built to serve retail investors looking to grow their capital but cannot afford to risk large portions of their money. Over $43 million of funds were raised on the platform for companies, which has a combined market capitalization of $6.8 billion.
DAO Maker token sale framework is called Dynamic Coin Offerings (DYCO) – utility tokens are USD-backed for an extended period of time, providing downside protection but unlimited upside. The three main features of DYCO that provide investors with protection are buyback rounds, token burns and trustless locks. More information could be found here.
It is a cash-flow-positive and self-funded company since late 2018 crossing $1.7M in 2020 revenue from technology product offerings, consulting services, incubations and enterprise offerings.
DAO Maker is considered a complete solution, especially in crowdfunding, community building and blockchain marketing. It features all the supportive resources and technology one would expect. Let’s take a look at some of the services:
Marketing: Clients can take advantage of various marketing services provided by DAO Maker; some of these marketing include SEO, influencer marketing, guerrilla marketing and paid promotions. In addition, the platform collaborates with the leading Bitcointalk influencers to give its clients widespread exposure.
Community: Strong communities provide growth benefits to a project while also acting as a defense against the project’s reputation being tarnished. DAO Maker offers vital services such as consistent and high-quality content, story creation, explainer videos, community management and more. The aim of these is to assist blockchain-based systems in the development and expansion of their communities.
The architecture of tokens: In light of the importance of tokenomics, DAO Maker has entered the field to play a significant role in the project’s tokenomics. It provides a comprehensive token metric that considers the economic and monetary policy of the underlying token in addition to other factors.
Partners: DAO Maker has established good working relationships with Alchemy Pay, PAID Network, TRON Network, Rainforest Foundation and Alliance Block, among others.
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How Many DAO Maker (DAO) Coins Are There in Circulation?The DAO Maker token (DAO) is the governance token of the DAO Maker ecosystem, which is built on the Ethereum blockchain and allows holders to exercise control over the ecosystem. Since late 2020, DAO Maker has conducted a series of dynamic coin offerings, raising a total of more than $8 million. The token aims to build a decentralized ecosystem, which will serve as a go-to platform for retail venture investing in equity and tokens.
There are about 36 million DAO coins in circulation, with a maximum supply of 312 million coins. About 20% of the max supply will be issued to the team, 5% to the advisors and future team, 24.6% for private sale and only 0.4% for public sale. The remaining 50% will go to DAO-managed foundations as customer incentives, for the ecosystem growth, among others. The distribution schedule is expected to take about 51 months.
How Is the DAO Maker Network Secured?DAO is an ERC-20 token built on Ethereum, and a smart contract is a program that runs on the Ethereum blockchain and is supported by the platform. Smart contracts allow the conclusion of trust relationships, transactions and agreements between anonymous parties. This makes these processes transparent, secure, irreversible, and everything else can still be tracked. DAO Maker is audited by CertiK and Hacken.
Investors have to go through a mandatory KYC/AML verification before they can participate in the sales offered on the DAO Pad. The DAO Maker has also partnered with StrongBlock, strengthening their security as StrongBlock is famous for allocating security resources.
When Will DAO Maker Trading Begin?DAO maker trading has already begun. As of August 2021, it has a 24-hour trading volume of $2,091,796, and the prospects are that it will grow even more.
Can DAO Coin Hit $1?As of August 2021, the price of DAO Maker coin has already exceeded $1 and sits currently around $1.80.
Where Can You Buy DAO Maker (DAO)?DAO Maker is now available in many exchanges online. It cannot be bought directly for fiat money, but coins can be obtained by buying Ethereum on any of the fiat currency exchangers for cryptocurrency, and then transferring it to the exchange where the DAO token is presented. Among them: Gate.io, Kucoin, Uniswap (V2), OKEx, Sushiswap, BitZ, 1inch Exchange, Hoo, Hotbit, AEX, Bibox, Uniswap (V3) and CoinBene.
Cryptocurrency newbie? You can read more about how to enter the market and how to buy BTC, DAO or any other token? Check out the details here.
To learn more about this project, check out our deep dive of DAO Maker.
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