As a subclass of DAO, an xDAC is a company on a decentralized network with a built-in Proof of Work (PoW) incentive mechanism, a comprehensive set of governance and management tools, and a support system for DApps and Autonomous Agents - all housed on top of EOS. The xDAC governance is regulated by an xDAC platform – designed as a self-sustainable decentralized ecosystem consisting of businesses motivated to reap the benefits of their success without geographical limitations.
DescriptionxDAC is a Decentralized Autonomous Company created and operated on xDAC Platform, decentralized digital ledger, by one or multiple human or autonomous agent owners or a mixture of both that share a common purpose and unites in order to achieve specific, declared goals.
The focus of an xDAC platform is not just company creation and token distribution, but establishing standards for decentralized businesses. An xDAC platform takes full advantage of decentralized ledger technology and lets anyone create and manage company without the limitations of geography.
– Companies need to follow rules and regulations of each jurisdiction separately. This often makes it too
expensive and difficult to manage companies worldwide.
– Customers are not protected if they deal with companies outside of their jurisdiction.
– “This agreement will be governed by” in international agreements means one party is giving up its
– Financial institutions and governments dictate technological evolution. If they don’t like business
model, they don’t want to cooperate.
– Critical business information and financial transactions are stored with centralized entities and are
under constant surveillance which makes businesses vulnerable.
– Business registration, government agencies, financial institutions, and jurisdiction systems are not
connected. This makes it slow and practically impossible to automate.
– Crypto market lacks economy and thus is highly volatile. People trade cryptocurrencies for speculation
and use exchanges, which are the weakest points of an ecosystem and are easy target for hackers,
banks, and governments to attack.
– xDAC platform takes full advantage of decentralized ledger technology and lets
anyone create and manage a company without the limitations of geography.
– xDAC Companies are governed by same rules.
– Business type is not limited as long as it follows platform rules.
– Company data and financial information are stored securely on decentralized
ledger and controlled by xDAC company.
– xDAC Platform aggregates three components (governance, finances, and
workforce) together in one place, so company processes are fast and automated.
– Businesses on the platform bring jobs, goods, services, and trades all within the
crypto space so that people are not forced to use exchanges and fiat currencies.
xDAC Platform Features
- GOVERNANCE AND DISPUTES
The xDAC platform establishes digital jurisdiction over xDACs created and operated by business owners. Disputes with third parties are resolved expediently and objectively through a decentralized Dispute Representative Board (DRB).
- OWNERSHIP AND TOKEN ISSUANCE
Owners have option to issue a certain number of voting or non-voting tokens through a smart contract and distribute them between the owners or public via ICOs or a token sale.
- PAYMENT PROCESSING
The most important part of each company is payment processing and the use of digital wallet technology. An xDAC platform will create a wallet with merchant tools for each xDAC upon the establishment of a company on the platform.
- LIABILITY FUND
An xDAC Liability Fund is coverage in case the xDAC's debts or liabilities exceed a certain debt-to-equity ratio. It is calculated as a percentage of received payments until certain threshold is reached. This protects investors in case of xDAC default.
- PoW PERFORMANCE RATING
xDAC’s PoW mechanism allows for an automated rating system to track the effectiveness of team members and companies and distribute the platform profit by way of participation.
- PROJECT AND TEAM MANAGEMENT
Project and team management is a key feature of PoW Performance Rating. It helps xDAC keep up with tasks, scheduling, and distributing automated payments to team members.
|“||November, 2017: Start.
Start of the project, Team Set up and Project start off.
Dec 2017 - Jan 2018: Preparation for ICO.
White Paper, Market Analyzes, Landing page.
March, 2018: Token Distribution: Airdrop, Pre-ICO Round.
Launch of Airdrop campaign and pre-ICO with soft cap 1,500 ETH. Smart Contract, token issuing.
Apr 2018 - Aug 2018: Token Distribution: ICO Round & Dev.
Distribution of remaining tokens. Integration identity verification, governance. Development of xDAC client - Company and Valet.
Aug - Oct 2018: Development & Testing.
Development of xDAC Core functions (Voting, Ratings), Client functions (Team and Tasks).
November, 2018: Alpha Release & Testing.
Alpha version release of xDAC Platform and xDAC Client.
January, 2019: Beta Release & Testing.
Beta version release of xDAC Platform and xDAC Client.
|Oskar Duris||Founder/Project Lead||https://www.linkedin.com/in/oskar-duris/||Team||4.5|
|Sergey Anpilogov||Frontend Developer||https://www.linkedin.com/in/sergey-anpilogov-a7978a12/||Team||4.5|
|Dmytro Stepanenko||Blockchain Developer||https://www.linkedin.com/in/dmitriy-stepanenko-dev/||Team||4.5|
|Alex Harmash||QA Engineer||Team||4.5|
|Michael Marquis||Communication Lead||http://linkedin.com/in/michaeljmarquis||Team||4.5|
|Benjamin McDermott||Research Lead||https://www.linkedin.com/in/bmcde/||Team||4.5|
|Sebastian Spiteri||Strategy & Operations Lead||https://www.linkedin.com/in/sebastianspiteri/||Team||6.5|