DAO MakerDAO to DOGE

In this article, we will learn everything regarding the network. We will discuss the process of its complete functioning. Secondly, we'll go over the various outlets and exchanges from where you can buy it. Thirdly, we will make you aware of how it is fairing presently and its future prospects. In short, this content piece is designed to help you make an informed decision about whether or not it's worthwhile to put your money in this digital currency.

What is DAO Maker (DAO)?

It is a decentralized autonomous organization platform that works within the cryptocurrency market. It was launched in the year 2018 by co-founders Christoph Zaknun the CEO of the platform, Giorgio Marciano (CTO) and Hassan Sheikh (CMO).

Its aim is to provide growth techniques and solutions for crypto startups to simplify capital fundraising. It helps new crypto projects build their community. Its native token governs the whole platform and performs various tasks within the network. This platform launched many well-known projects like Orion Protocol, My Neighbor Alice, LaunchX, etc.

What Makes DAO Maker (DAO) Unique?

DAO Maker is a platform that provides support to startup businesses so that they can grow and discover their potential. It has some distinct features that draw it apart from other digital currencies in the crypto world. These features are listed below: 

• Decentralization 

This network is built on Ethereum which is a decentralized blockchain which means that there is no necessity of any banks or financial institutions for transactions. This makes sure that the charges are nominal and the transactions are trustworthy  

• Better Rules and Regulations

The rules and regulations are very stringent and watertight because they are based on smart contracts which aids in avoiding any mishaps. 

• User Participation Chances

The DOA system allows the users of this network to actively participate in various activities that are important in the growth of the network. These activities include the voting process and election of members at high positions. 

• Seamless Integration  

The network is built on a decentralized network in such a manner that it can easily be accepted on various other DeFi protocols and platforms and gives a versatile platform to trade on for the users. 

• High Tech Security 

The digital currency provides the best security feature to its members which protects them from scammers, hackers, and other tech exploiters. 

• Trustworthy 

The users of this digital currency can get complete information about the various transactions that are done on the network. These transactions are available in the public domain easily which makes the cryptocurrency a very trustworthy one. 

• Well Connected Products

DAO is the governance as well as the utility token for DAO Maker. It is a key part of the platform that efficiently connects all of its products. 

• Meaty Discounts and Offers

The token has discounts on services and rewards for staking, providing liquidity, launching projects on the platform, and taking part in governance activities.

How Many DAO Maker (DAO) Coins Are There in Circulation?

DAO is the project’s native token. Presently there is a large number of these coins available in the crypto world. Presently, there is a supply of 312,000,000 coins. These coins have a circulating volume of 143,942,531 DAO, as of March 2023.

How Are the Tokens Allocated?

The allocation of tokens is in a different manner and it is spread across various sectors in the following manner

1. The private and public sector has  25 percent of the share 
2. The team has 20 percentage 
3. 5 percent has been set aside for the advisors and future team members; 
4. 10 percent is given to the DAO-Managed Foundation;
5. Foundation funds have a 7 percent 
6. Incentives are assigned 10 %
7. Merger and acquisition (M&A) processes are allotted 14%

How is the DAO Maker Network Secured?

DAO Maker (DAO) is deployed as an ERC-20 standard token. This means that it runs on and is secured by the Ethereum blockchain. Ethereum is, in turn, secured by the Proof-of-Stake (PoS) consensus mechanism.

A well-known organization CertiK audits the network. This company is a Certified Kernel Tech. It is a pioneer in blockchain security for protocols, smart contracts, and DeFi projects.  

Where Can You Buy DAO Maker (DAO)?

As of March 2023, DAO Maker (DAO) is supported on multiple exchanges, including KuCoin, Bithumb, Uniswap, PancakeSwap, SushiSwap, Bancor Network, OKX, Gate.io, Huobi, Bitget, Coinone, MEXC, Indodax, CoinDCX, LATOKEN, THENA, Bibox, BTSE, Bitay, BitUBU, XT.com and more.

What is the Future of DAO Maker?

This digital currency seems to be doing well presently and will surely have a great time in the years to come because of the following reasons: 

• Strong Community

Cryptocurrency has a large community of users and crypto enthusiasts. It plays an active role in the growth and development of the coin. They participate in the decision-making process and make sure that they have a strong say in all the important decisions for the betterment of the coin. 

• Talented Developers

The developers of this digital currency are always there to make sure that the network is technically updated from time to time to live up to the high standards of technological advancements in the crypto world. 

• Chances of Higher Acceptance 

The coin has created a lot of buzz in the crypto ecosystem because of its distinct features and rights and perks that it offers to its members. 

• Possibilities of More Use Case Adoption 

The stakes are high that more and more businesses and entrepreneurs will use this cryptocurrency as a mode of transaction because it offers many characteristics that are advantageous for them. These are the prime four merits: 

1. Decentralization
2. Fundraising ability 
3. Security
4. Trustworthiness
5. Defi integration

Challenges of DAO Maker

Even though there are some high expectations from this cryptocurrency, it is inevitable to keep in mind that there are some aspects mentioned below that can affect the fate of this coin

• Price Fluctuations 

The crypto world is full of uncertainty. The prices see an all-time high and a steep fall within a very short period of time. Due to this reason, faith as an investment opportunity as compared to real estate or the stock market is low. 

• Competitions 

The crypto ecosystem is flooded with a variety of digital coins from time to time. Therefore, there is a cutthroat competition between each and every digital coin for existence and some of them are vintage coins that have been in the crypto world for a long period of time. 

• Technological Advancements

The fabric of the crypto world is founded on technology. This technology keeps on getting revamped from time to time and it is difficult to sometimes keep pace with the improving technology. 

• Uncertainty in Governance

Unlike other investment options, cryptocurrency is very new and does not have a governing body or uniform rules and regulations across the world. Therefore, there is always a fear of any law change that can affect cryptocurrency.

Conclusion

We have tried to bring you each and every aspect of this network. Nevertheless, it is important to keep in mind that this article is not an exhaustive piece of information and we suggest that you do an in-depth investigation from your end or take the advice of a crypto expert before making any investment decision.