DAO Maker, the popular startup launchpad, crypto project accelerator, and community building platform, has announced the launch of its much-anticipated token.
The DAO Maker token, according to reports, will help introduce venture capital to the public as well as facilitate community support for crypto projects. Interestingly, this announcement closely follows the platform’s third-year anniversary. The much-anticipated token will now be available on both Kucoin and Gate.
Users’ expectations are quite high with respect to the token and its ability to provide support to crypto project startups and their community. According to the official blog post, the DAO Maker token has been anticipated for a while now. As expected, the token announcement was met with excitement by community members.
The Sleeping Giant has awoken, bringing venture capital to the masses.
— DAO Maker (@TheDaoMaker) February 8, 2021
The Announcement in Detail
The decision to finally launch the DAO Maker token is, to a large extent, hinged on the resounding success of the platform’s Orion Protocol. Also, once the private sale, via next-gen DYCO 2.0, is completed, the token will go live. As previously stated, the first exchanges to list the native token (DAO) are Kucoin and Gate.
The listing took place simultaneously as planned on Tuesday, February 9, 2021. The DAO trading pair on Kucoin is simply the DAO/USDT pair. Two trading pairs will, however, be available on Gate.io, namely the DAO/USDT and DAO/BTC pairs. Deposits and trading commenced immediately on both platforms on February 9, 2021, at exactly 09:00 (UTC). Withdrawal also commenced on February 9 but at 13:00 (UTC).
One important fact to take note of is that the DAO Maker token can only be issued under a 65% DYCO. This means that the tokens are refundable, and interestingly, all refunded tokens will subsequently be burned.
DYCO will furthermore serve as a toll bridge allowing token buyers to exit the platform ahead of the scheduled closing date. Such buyers, according to the official blog post, will need to burn part of their tokens so as to “skip the vesting schedule.” The toll bridge also makes it possible for participants to unlock part or all of their tokens for a toll fee.
Participants who remain throughout the course of the vesting timeline will receive 20% of their token portfolio every quarter of the year.
About DAO Maker
DAO Maker is a well-known name in the decentralized technology space. Launched in 2018, the platform serves as a consulting agency as well as a launchpad for top industry players in the crypto space. Names like AVA Labs, LTO network, Elrond Network, Harmony Protocol, Injective Protocol, Orion Protocol, NEM, etc.
It, furthermore, remains one of the most well-placed and reputable brands in the blockchain and cryptocurrency space.
DAO Maker Token Price
At the time of publication, DAO was trading at $3.05, with a market cap of $50,172,029 and a 24-hour trading volume of $5,466,631.
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