What is OxDAO?

0xDAO (OXD) is a liquidity protocol built on the Fantom blockchain. This protocol was created by an event called “TVL War” on Fantom. TVL War contains DeFi methods that use one protocol to provide higher interest rates than another in order to steal their customers and investors.

The popularity of 0xDAO is reflected by the project’s TVL, which skyrocketed to US $3.5 billion in a few days.

0xDAO is being started by the founders of the most successful projects on Fantom and is designed to capture lasting value for the entire Fantom ecosystem.

Project Objective 0xDAO

0xDAO adopts the same strategy as veDAO, but with better preparation and more benefits, as all OXD tokens will be distributed to liquidity providers. 0xDAO hopes to attract stakes in veDAO this way. The decision-making power of 0xDAO will be owned by the community and OXD token holders.

0xDAO would like to introduce a veDAO alternative, community-centered with proven developers and long-term goals achievable with the help of the community.

The goal of this project is to provide a completely decentralized infrastructure that maximizes profits, capital efficiency, and voting rights, thereby creating a free market for the protocols that are designed. Set up on Fantom to increase liquidity.

The main components of 0xDAO

Decentralized treasury management

The team has decided not to have any initial liquidity for the OXD token. This means that at launch, there will be significant volatility in the price of this token. Inexperienced users should not attempt to trade tokens at launch.

After the transaction is incurred, the fee income will be redistributed to the treasury and the stakers. OXD holders will be able to stake and vote on liquid pairs.

In addition, OXD holders can vote on how the treasury is distributed, including purchasing other ecosystem tokens through a federation mechanism such as the Olympus DAO.

Administration

The decision-making function of 0xDAO will depend on the community. 100% OXD will act as the governance token of the protocol and allow holders to participate in on-chain voting.

OXD holders will be able to participate in decision-making, including whether to sell airdrop ve (3,3) and distribute coins to OXD holders.

Security

The contracts deployed to 0xDAO have been checked through SpookySwap and audited by Certik. In addition, 0xDAO’s extremely high TVL attests to the fact that “whales” are using the platform and implicitly asserts that this is a protocol with strong security.

What is an OXD Token?

OXD is a token built on the Fantom blockchain platform. This token is used to:’

As a reward for staking participants
OXD holders can vote to decide how to allocate the treasury and new features of the protocol.

Some fundamental information about OXD

Name of the token: 0xDAO token

Symbol: OXD

Blockchain: Fantom

Token Type: Native, Governance

Standard: N/A

Contract: 0xc165d941481e68696f43ee6e99bfb2b23e0e3114

OXD total supply: 31,499,808

Token allocation (OXD)

100% of the total OXD provided will go to the farm.

Where to store OXD tokens?

OXD is a token built on the Fantom blockchain. Therefore, you can store this token on wallets such as: Fantom Wallet, Metamask, Trust Wallet, Coin98 Wallet, Trezor, Ledger, etc.

Where can I buy OXD tokens?

Currently, you can buy OXD tokens on listed exchanges such as: MEXC Global, BKEX, Bitrue, Spookyswap, etc.

What is the 0xDAO project born for?

More and more protocols want to launch or move to the Fantom ecosystem. This is a positive for the Fantom Foundation. However, a new phenomenon has begun to emerge: projects looking to launch DAOs with the aim of attracting intensive capital in an extremely short period of time, namely veDAO.

While there’s nothing wrong with kicking off a DAO, doing so indirectly puts other projects at risk of short-term cash grabs by unknown groups. In addition, users are also potentially exposed to high-risk systems and potentially malicious actors.

One of the big problems with all DAOs is “hit and run”. This means an extremely high yield range is offered but lasts less than 1 month.

0xDAO was created to combat the emergence of short-term veDAOs, preventing them from stealing liquidity from other dedicated projects on Fantom.

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