XDAO team is thrilled to announce the official launch on NEAR Protocol using Aurora — Ethereum compatible scalability solution.
The NEAR Protocol is a Proof-of-Stake (PoS) blockchain designed to be a community-run platform for hosting decentralized apps (dApps), but with unique sharding technology that makes it considerably cheaper and more scalable than some popular competitors, such as Ethereum. For XDAO, we are using a solution provided by Aurora to seamlessly deploy our solidity smart contracts on the NEAR Protocol and later in this article we will mention Aurora, meaning that it belongs to the NEAR Protocol.
Aurora has zero gas fees and is currently the absolute leader among all the blockchains on which XDAO currently works.This is a great opportunity for all DAO creators who want to launch their project with minimal operating costs and, at the same time, not be deprived of functionality.
In order to transfer funds to Aurora, you can use an official Rainbow Bridge to move tokens from Ethereum. However, to create a DAO, you can do it right now without having a penny in your wallet.
The DAO journey on Aurora starts from this page https://www.xdao.app/1313161554/. It takes only a minute to set up and deploy your own unique DAO and connect it to any other protocol existing in Auroura, such as DODO.
For more information, check out our DOCS.
What are DAOs on XDAO for?
- Trust Management — Collect funds and invest in other projects through launchpads and other platforms;
- Venture Investments –Reducing the risk of loss of funds. Make investment decisions in companies in which you have a stake;
- Hedge Funds — Connect to any DeFi protocol and deliver liquidity through the DAO;
- Gaming Guilds & NFT Funds — Create a DAO and use it as a guild. You can also jointly buy and sell NTFs;
- Project Money Management — Manage your shared project budget;
- Charity — Distribute funds transparently and securely through the DAO.
In fact, there are a lot of ideas for creating a DAO. All you need is a concept for managing shared finances.
Read the XDAO Blog to dive into DAOs if you haven’t done it yet!