DXdao price is $1,213.67
| Market Rank | #961 |
|---|---|
| Market Cap | $ 28.5M |
| Volume 24h | $ 49.6K |
| Circ. Supply | 23.5K |
| Total Supply | 23.5K |
| Max Supply | 23.5K |
The current price of DXD (DXdao) can fluctuate frequently. As of now, the price of one DXD token is $ 1,213.67. Keep in mind that cryptocurrency prices are highly volatile and can change rapidly within minutes or seconds.
DXdao is a decentralized autonomous organization (DAO) that's focused on building and managing a variety of DeFi (decentralized finance) services and products. Their suite includes Omen, a prediction market platform; Swapr, an automated market maker (AMM) with governance features; Mesa, a decentralized exchange (DEX) designed to be resistant to front-running; and Rails, a Layer 2 payment portal intended to provide lower transaction fees and faster processing times on the Ethereum network.
At the core of DXdao's governance is a reputation-based system. This implies that the voting power in the DAO is non-transferrable and not subject to purchase, emphasizing the principles of decentralization and equal opportunity participation. DXD is the ERC20 token associated with DXdao, granting holders a claim to a portion of the revenue generated from its products.
DXdao does not have a single founder or a small founding team, which is typical for many cryptocurrency projects. Instead, it was created by a collective effort of DeFi developers and enthusiasts advocating for a fully decentralized governance model. The structure of DXdao minimizes centralized leadership and promotes community-driven decision-making.
DXdao operates utilizing smart contracts on the Ethereum blockchain. It employs a reputation-based governance model, where participation and contributions to the ecosystem determine an individual’s voting power, rather than merely the ownership of tokens. This model is designed to disincentivize token accumulation strictly as a means of gaining control over the DAO's decisions and to encourage active and meaningful participation in the governance process.
DXD token holders can propose and vote on decisions that steer the direction of the DXdao ecosystem, including its financial strategies and product developments. Since its governance is fully on-chain, all decisions by DXD holders are transparent and enforceable through the Ethereum blockchain.
DXdao's commitment to full on-chain governance and decentralization makes it stand out. It pioneers a system where influence is based on reputation rather than financial stake alone, which can be seen as an endeavor to cultivate a fairer and more egalitarian form of governance within the DeFi space.
Moreover, the fact that DXdao controls its products through the Ethereum Name Service (ENS) and administers its treasury via binding on-chain votes positions it as a highly autonomous and self-sufficient entity. DXdao strives to reduce reliance on third parties and is governed by a community that’s spread across the globe, without centralized authority.
DXdao’s products like Omen, Swapr, Mesa, and Rails are all designed with the objectives of the decentralized finance movement in mind. Each product addresses specific market needs, such as fair and open prediction markets, decentralized trading with governance, front-running resistance, and efficient Layer 2 solutions for Ethereum scaling.
The future of these products likely hinges on the ongoing development and governance by the DXdao community. As they are further improved and gain adoption, they could become significant players in the DeFi ecosystem.
The circulating supply of DXD is 23.5K, while the total supply is known to DXdao and could be subject to smart contract limitations and governance decisions.
DXD can be purchased on several cryptocurrency exchanges. To find out where you can buy DXD, you can visit the official website of each exchange. Always ensure you are on the legitimate exchange site to avoid fraudulent activities. Remember to conduct your own research and due diligence before proceeding with any transactions.
Keeping your DXD tokens safe is crucial. Always use reputable wallets that support the ERC20 token standard. Hardware wallets are often recommended for higher security as they store your private keys offline. Also, be vigilant against phishing scams and never share your private keys or recovery phrases with anyone. Regularly updating your wallet software and using strong, unique passwords can also help protect your assets.
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