What is DXdao (DXD)?
DXD is the native ERC20-based token of DXdao, which is a decentralized autonomous organization (DAO) founded in May 2019. It focuses on creating, managing, and growing various DeFi products. Since DXdao is a DAO, it is owned and controlled by the community, which rapidly expands. The current DXdao price, supply, and volume are available in the charts above.
DXdao has been run by holders of Reputation (REP) points since it first launched in 2019. REP points are non-transferable tokens acquired by contributing to DXdao. However, a bonding curve was used to launch the DXD token in 2020 by REP holders in order to finance product development and transfer earnings from DXdao items to DXD holders. Therefore, in 2021, DXdao introduced "Governance 2.0", which blends REP-based governance and DXD-based governance.
Some of the products created by DXdao include Swarp, DAVI, Carrot, Omen, and Aqua.
Use Cases of DXD Tokens
For starters, DXD token owners have a financial right to DXdao's earnings and future access to a range of services and VIP features in decentralized apps. This includes gasless trades, zero-fee asset anonymization, lower transaction fees on DEX networks, and much more.
Besides that, DXD coins are used in the aforementioned Governance 2.0 system to provide its holders with governance rights.
Also, note that DXdao debuted the DXD bonding curve 2 which mints new DXD with ETH deposits at a linearly rising ETH/DXD price. DXD may be burnt in exchange for ETH from the bonding curve's repurchase reserve.
Planning to acquire DXdao crypto assets? If you are, check out the current DXD price on its price chart above.
Who Founded DXdao?
DXdao was created by Gnosis and DAOstack. However, even though the two co-founded dxDAO, they decided against being founders and did not create a separate legal corporation just for dxDAO. Instead, 399 Ethereum addresses around the world received Reputation points that provided them with governance power.
Tokenomics of DXD
There is no max supply set for DXD tokens. Thus, before deciding to buy DXD, it’s wise to review the latest DXD price changes, since the price might fluctuate together with the whole crypto market. In addition to the DXdao price, you can find other details such as trade volume, supply, and circulation on the charts featured above.
