PhoenixDAO Turns One — The Year in Review

On 19th May 2021, PhoenixDAO celebrates its one year anniversary. The first year has been fruitful for the team, and we are grateful to our community for the continuous support. The team has come a long way since our official launch, having established a strong position in the crypto market in less than a year.

As we commemorate our journey so far, we want to recognize the work that the PhoenixDAO team has accomplished to build the foundation for our blockchain-based Web3.0 ecosystem. Let’s go through some the main events that we are extremely proud of:

1. Staking dApp: PhoenixDAO launched the SPOT Staking Flagship application to enable the PHNX token holders to stake their PHNX tokens in return for rewards as much as 20% APY. In addition to offering high interest in staking, the dApp is paramount in the PhoenixDAO ecosystem. The team has already launched the first version of the app, while the launch date for the second version is yet to be announced. For those who missed the update, here is a step-by-step guide to getting started with the PHNX staking process.
2. DAO: Now in the final testing phase before public launch this year has seen intensive brainstorming and development rounds. PhoenixDAO is setting new standards for the DAOs of the crypto market. All the spending decisions will be voted on the DAO along with posting PHNX expenditures on the platform’s running budget page.

As the company is self-sustaining it does not rely on donations and uses revenue generated through products and dApps. PhoenixDAO offers a chance to earn PHNX by participating in governance which can be done using its open framework.

1. Events dApp: With the launch of Events Marketplace, PhoenixDAO intends to connect the event industry with blockchain to bring transparency to regular users. The app allows anyone to organize all kinds of events such as workshops, conferences, festivals, concerts, signings, camping, and almost everything else a user can think of. It also helps to organize business events like networking events, tournaments, seminars, or screenings.
2. Partnered with Polygon: The Events Marketplace, which was deployed on Ethereum blockchain, was nearly impractical to use due to the skyrocketing gas fees. In response to this, the team partnered with Polygon (formerly Matic) network to attract more users to the platform. Creating or organizing events using Polygon blockchain is not only scalable but also significantly reduces the fee.
3. Integration with Binance Smart Chain: In response to the growing demand for trading PHNX tokens, PhoenixDAO has integrated with Binance Smart Chain to open up opportunities for its users. The partnership will improve and bring more use cases for our ecosystem while enabling users to trade on the Binance Smart Chain as well as the Ethereum network. Traders can utilize the low transaction cost of the BSC network while the platform improves upon the liquidity of PHNX tokens.

Looking at the successful first year, we are very excited about the months ahead and will continue to deliver as per our roadmap to become an industry leader in the near future.

To celebrate our first anniversary, PhoenixDAO is rolling out a special birthday AMA for the whole community to indulge in. Follow us on our socials to stay tuned for more details!