XDAO, the bespoke provider of ultra-secure ultra-simple DAO utility for business clients, has registered a jump by the factor of 380 in assets under management (AUM) deployed on its platform, an explosive growth as organizations large and small embrace the DAO concept and take advantage of XDAO’s secure, simple to use offering.
Open for business in November 2021, XDAO’s framework platform offers point and click functionality for DAO creation, taking all of the complexity and routine decision-making out of the process of establishing a DAO for an organization. DAO platforms are catching major traction with business clients, as hedge funds, charity organizations, gaming guilds, real estate developers and money managers lead the way into using decentralized, transparent money management platforms that offer an option for making collective decisions and taking joint financial responsibility.
While XDAO’s solution is designed to be appealing to premium products-oriented non-techies, being to DAO what iPhone vs. Android is to smartphones, it is one of the most secure DAO platforms on the market, having excelled in multiple hacking and stress tests. XDAO passed two security audits and is trusted by some of the largest names in the blockchain industry, such as Binance Smart Chain, Polygon, NEAR Foundation, Optimism and HECO Chain. Interest in XDAO comes as some of the largest names in the industry, companies like Andreessen Horowitz and Messari, are noting that 2022 is the “year of the DAO,” as the technology goes into the mass adoption stage, with DAO infrastructure driving Web3 product and DeFi adoption.
“We are thrilled that XDAO framework is rapidly gaining financial recognition, where customers are backing with their dollars the very core values of XDAO that made it a darling of engineers, analysts and early investors,” said Vladislav Shavlidze, XDAO CEO and founder.
At the moment, XDAO has almost $39 million under management, up 38,000% from $100,000 in November 2021. These funds have been entrusted to the framework by 510 DAOs, which run on 12 different blockchains. The number of blockchains under XDAO framework is growing daily. XDAO started accepting funds only in November, but already is on par with two of its closest competitors, and one order of magnitude under two of the market leaders. These comparisons, made exclusively based on AUM values, are important, since XDAO plans to start monetizing its customer base only after it captures a meaningful market share of the global XDAO market, which currently stands at $15.3 billion.
Up until that moment all XDAO products and services are absolutely, 100 percent free for its customers. In the future, the basic set of features will remain free, while monetization will focus on charging clients for premium services. This is when token issuance will become important, as XDAO tokens will be needed to purchase these services. At the moment token generation event has not been announced, tokenomics not unveiled, and first token transactions are being handled in the private placement mode with investors on invitation-only basis.
“XDAO has been self-funding up to this moment and attracting very limited amounts of critical funding from strategic investors,” said Shavlidze.
