DAO Launched: What to expect next?
Last month, PhoenixDAO launched the highly awaited flagship DAO platform that has generated a lot of buzz at popular platforms such as Crypto Daily. A DAO or a decentralized autonomous organization is a significant step for any platform as it marks the platform journey to become self-reliant and entirely decentralized.
A DAO ensures decentralization by distributing the power of deciding the platform’s future to the community. PhoenixDAO’s DAO platform was a monumental achievement for the platform. However, PhoenixDAO has a lot to offer, and according to its roadmap, PhoenixDAI has a lot of exciting things planned for the community.
The revolutionary DAO by PhoenixDAO in brief
PhoenixDAO is an open-source, decentralized, and community-led project with several unique dApps operating under the umbrella of the DeFi enabled ecosystem. PhoenixDAO has operated with a single focus of achieving true decentralization, and the DAO platform operates under the same ideology.
The DAO platform of the PhoenixDAO ecosystem acts as the forefront for all the products offered by the platform. Under the DAO, the community votes on all the spending decisions ensuring decentralization and a community-driven ecosystem.
The DAO operates under the following rules,
- Under the DAO, every token holder can participate in the spending decision of PHNX tokens. Also, all the spending details are posted on the budget page for every token holder to stay updated.
- The launch of DAO has made PhoenixDAO a self-reliant system that relies on the income generated by dApps and the dApp marketplace.
- DAO incentivizes participation by making token holders eligible for PHNX rewards.
- To become eligible for DAO governance, token holders must stake their tokens. The staking amount varies for voting rights and submitting proposal rights.
The future of PhoenixDAO
While the DAO is an integral part of the PhoenixDAO ecosystem, it is not the only service offered by the platform. PhoenixDAO recently launched its Events dApp that allows users to create and manage events on a blockchain network powered by smart contracts.
PhoenixDAO also unveiled its unique NFT Event Marketplace in collaboration with Polygon Network. Currently, PhoenixDAO has several gears in motion, such as beta testing of Events Marketplace, DAO (Version 1), and also a major rebranding of the PhoenixDAO ecosystem is underway.
In the second quarter of 2021, PhoenixDAO will launch Version 2 of its popular Staking dApp and Layer 2 Scale Enhancements. PhoenixDAO is geared up for offering several new products and features that will add value to its already valuable ecosystem.
About PhoenixDAO
PhoenixDAO is a next-gen decentralized platform that offers several unique products such as Events dApp, The DAO, and the staking dApp. The phoenixDAO ecosystem is powered by its underlying four protocols, Phoenix Identity, payments, tokenization, and authentication, that help create a decentralized and open-source DeFi enabled ecosystem.
PhoenixDAO is a community-led project that offers boundless possibilities to enhance centralized industries and add value to the crypto ecosystem. Learn more about the PhoenixDAO ecosystem at
Official Website: https://phoenixdao.io
White Paper: https://github.com/PhoenixDAO/PhoenixDAO-docs/find/master?q=
