Los Angeles, CA, twelfth October, 2022, Chainwire
- DeSo, a brand new blockchain that has raised $200 million from Coinbase, Sequoia, and Andreessen Horowitz, simply launched DAODAO, a breakthrough cross-chain fundraising platform.
- DAODAO permits entrepreneurs to launch fundraising rounds with cash instantly tradeable on an on-chain order-book alternate.
- Founders can elevate capital with any foreign money, together with fiat money, Bitcoin, Ethereum, Solana, DeSo, and USDC, and money out on to USDC.
- Founders can even entry on-chain social options corresponding to on-chain end-to-end encrypted messaging & group chats, on-chain profiles, on-chain content material, and an on-chain social graph.
At this time, the fundraising course of for founders is highly-centralized, with a handful of elite enterprise capitalists controlling who will get funded and who doesn’t. As well as, founders should usually wait ten years or extra for his or her firm to “go public” and develop into traded on a liquid alternate. However that would quickly change as blockchains like DeSo allow founders to lift cash from tens of millions of Bitcoin, Ethereum, and Solana customers with simply the press of a button.
A brand new app known as DAODAO is launching at the moment on the forefront of this disruptive pattern. Constructed on the DeSo blockchain, backed by Coinbase, Sequoia, Andreessen Horowitz, and others, DAODAO permits any Bitcoin, Ethereum, or Solana consumer to spend money on promising founders earlier than they go to pitch enterprise capitalists.
For founders, establishing a fundraiser on DAODAO is as simple as making a social media account. Funds are robotically transformed to USD, and founders can money out seamlessly to USDC anytime.
Nevertheless, probably the most attention-grabbing part of DAODAO is that founders may give contributors a liquid token with their buy, which may instantly commerce on DeSo’s decentralized on-chain gas-less order-book alternate.
Such a breakthrough raises the query of whether or not the standard fundraising mannequin of ready ten years for an organization to commerce on the open market may now be out of date.
“DeSo is the one blockchain that would help one thing like DAODAO at the moment,” says Arash Ghaemi, Progress Advertising Lead at DeSo. “DeSo’s current USDC integration and the MegaSwap swapping facility to transform crypto into USD had been each essential, and no different chain has each. On high of that, DeSo’s order-book alternate is the quickest on the earth, able to performing 40,000 matches per second,” he continues.
DeSo can also be able to supporting distinctive social options leveraged by DAODAO, together with on-chain profiles and an on-chain social graph. “It prices about $75 to retailer a 200-character Tweet on Ethereum and about fifteen cents to retailer it on Solana, Avalanche, or Polygon. In distinction, DeSo is one ten-thousandth of a cent, making it the primary blockchain able to disrupting storage-heavy purposes like social fundraising. It truly is the Social Layer for all web3,” Founding father of DeSo Nader Al-Naji provides.
That is the most recent in a current string of successes for DeSo. The platform listed on Coinbase earlier this yr introduced a groundbreaking MetaMask integration final week that has prompted a big value surge, and lots of new social apps like Diamond, a web3 social community constructed on DeSo, have launched and are rising quickly with a current surge in consumer numbers.
Not too long ago, the platform introduced a USDC integration that has attracted many new builders to the ecosystem, together with DAODAO.
With the launch of DAODAO, DeSo’s true disruptive energy turns into obvious. It’s a platform that may disrupt social media and the trillion-dollar early-stage financing market.
About DeSo Basis
DeSo is a brand new layer-1 blockchain constructed from the bottom as much as decentralize social media and scale storage-heavy purposes to billions of customers. They raised $200 million and are backed by Sequoia, Andreessen Horowitz, Coinbase Ventures, Social Capital, Polychain Capital, Winkelvoss Capital, Pantera, and others.
$DESO, the native foreign money of the DeSo blockchain, is listed on Coinbase.
Progress Advertising Lead