DXdao is a decentralised autonomous organisation (DAO) that operates on the Ethereum blockchain. It is designed to manage and govern decentralised finance (DeFi) protocols and applications. The DAO uses a governance model where token holders can participate in decision-making processes, making it a community-driven project focused on promoting DeFi protocols and financial transparency.
DXdao works using the Ethereum blockchain and leverages the DAOstack framework for decentralised governance. Decision-making is facilitated through reputation (REP) tokens, allowing it to operate with a consensus mechanism akin to Proof of Stake. DXdao utilises smart contracts to ensure on-chain governance and management of DeFi protocols, making all transactions and decisions transparent and secure.
DXdao has multiple use cases, including:
DXdao was co-founded by Gnosis and DAOstack, with a focus on managing and governing DeFi applications on the Ethereum blockchain. It has evolved to manage multiple decentralised finance protocols, and it is involved in broader DAO ecosystems like the ENS DAO. While not detailed in major updates or forks, its growth has occurred parallel to the wider evolution of DAOs, which have expanded significantly in assets and membership since their inception.