After three successful years of marking our relevance in the cryptocurrency space, it is a new dawn for us here at DAO Maker as we stay true to our commitment to community development and pull the veil off another level of the DAO Maker project. Following the well-known success of the Orion Protocol DYCO, we threw our hat in the ring with our next-generation DYCO 2.0 for the DAO Maker token. Now that the private sale has been completed, we are finally happy to announce that the DAO token is now live and listed on exchanges. We understand that this has been long coming and we are thankful for the support we have received from our ever loyal community and follower-base.
Kucoin and Gate, are among the first groups of exchanges that would be adopting the DAO Maker native token (DAO) on their platforms. On Tuesday 9th February, Kucoin kicked off with the DAO/USDT currency pair and Gate followed suit with the DAO/USDT and DAO/BTC currency pairs. All deposits & trading as well as withdrawals of DAO Maker token were slated to begin effectively from 09:00 AM and 13:00 PM (UTC) respectively on the two platforms.
Summary of DAO Maker Private Sale
All information on the DAO Maker token including the max total supply, number of holders and the number of transfers performed can be found on its smart contract address 0x0f51bb10119727a7e5ea3538074fb341f56b09ad. To ensure the stability of the token, the token sale framework used was a Dynamic Coin
‘ href=”https://www.newsbtc.com/dictionary/coin/”>coinsupply was placed between 234 million DAO (max refund) to 312 million DAO. Dynamic funding was also hard-capped at 2.73 million – 7.8 million and valuation was placed at $10.92 million – $31.2 million.
The DYCO model affords token sale participants the opportunity to refund their tokens if they choose to do so. This ensures accountability, organic liquidity and volume for a feasible secondary market. In this regard, the DAO Maker token was issued under a 65% DYCO. This means that each token bought by a participant can be refunded at 65% of their purchase value and all tokens that have been refunded would be burned immediately.
Also, by virtue of the Toll Bridge feature, token sale participants have the option to pay a toll fee to unlock all or part of the tokens they have vested. After the deduction of this toll fee from the vested tokens of the participant, they are burned immediately. This way, participants can burn a portion of their vested tokens to skip the vesting schedule if they desire an early exit. Those that chose to stay committed to the vesting schedule would, however, receive 20% of the amount of tokens purchased every quarter as returns.
What is DAO Maker:
DAO Maker started out as a self-funded project in 2018 with the goal to be a launchpad for startups to receive funding and evolve in a decentralized, safe, and autonomous environment. Since our inception, we have grown one of the largest ecosystems of over 75,000 quality retail investors who are interested in funding early-stage ventures. We provide a range of technological products, compliance and fundraising solutions as well as strategy consulting for startups who choose to launch their projects through our innovative Dynamic Coin
A DYCO is our accelerator initiative that gives startups the opportunity to raise funds for their project whilst ensuring that they remain accountable to the cause by allowing token sale participants to claim refunds on any token bought regardless of whether they were sold at profit or simply held. The refund value varies from project to project. Coins are backed by a stable