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DXDao (DXD) token explained

How the DXD token works. DXDao is a sovereign collective on Ethereum that develops and governs defi protocols.

What is DXDao?


DXDao is a sovereign collective developed by Daostack and Gnosis.

It develops, governs, and grows DeFi protocols and products.

How the DXDao works


Built on the DAOstack framework it uses the GEN token and non-transferable reputation to scale decision-making.

Reputation is earned through

  • Contributing to the DAO in some way.
  • Locking tokens connected to the ecosystem.

Reputation is used for voting on proposals.

Governance discussions take place on

Current protocols governed by the DXDao


Omen – Prediction market
Mesa – DEX built on DutchX protocol

The DXD token


DXD token uses a continuous organization model also known as bonding curve. This gives DXD holders access to future cash flows of the dxDAO.

DXD bonding curve

  • DXD bonded to ETH.
  • 10% reserve.
  • Linear slope.

Initial DXD distribution and bonding curve thread.

Discussion on distribution of voting rights for DXD holders here.

More on bonding curves.

The DXD token is used for


  • A bet on the future cash flows of the DXDao.
  • Voteing (when gas fees are not too high).

Docs


Governance Handbook

Whitepaper

Token issuance


Total supply: 141,396 DXD

DAO Reserve

100,000 DXD Tokens will be issued to the dxDAO – 2775 DXD vested each month for 3 years

What’s the story?


  • A fully decentralized DAO
  • DAOs are the next big thing

DXD price


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