What Is DAO Maker & How does it Work?

What is DAO Maker?

DAO Maker is an innovative platform that operates within the realm of cryptocurrency and blockchain. It functions as a Decentralized Autonomous Organization (DAO), which is a type of organization that is governed by rules encoded as smart contracts on a blockchain. DAOs enable large groups of autonomous individuals to collaborate and make decisions toward a shared objective without the need for traditional legal structures or centralized control. They are often utilized to manage the treasuries of public blockchain networks, supporting projects and initiatives that aim to enhance the network's adoption.

One prevalent form of DAO is the token-based membership model. In this model, holding the DAO's governance token grants users the right to vote on crucial decisions, like funding specific projects or altering governance rules.

DAO Maker specifically focuses on providing growth technologies and Software as a Service (SaaS) solutions to crypto startups. Its goal is to streamline the process for these startups to acquire venture capital. It facilitates this by enabling participants to easily discover and engage with projects through Initial DEX Offerings (IDOs). DAO Maker's chief role is to assist emerging projects in building and nurturing their communities, subsequently converting these communities into valuable contributors to a DAO using tokens. The platform's feature, DAO Pad, allows retail users to partake in digital assets and stocks at an early stage, with the aim of crowdfunding nascent protocols by drawing in small-scale investors.

What is the history of DAO Maker?

DAO Maker was established in 2019 by Christoph Zaknun (CEO), Giorgio Marciano (CTO), and Hatu Sheikh (CMO). Currently, the operations are also overseen by Malte Christensen (COO). Christoph Zaknun's background is quite diverse. He initially pursued medicine at Charles University in the Czech Republic and worked as an assistant neurologist-traumatologist in a hospital in Salzburg. Later, Zaknun joined the Austrian armed forces, specifically the AFRDU (Austrian Army for Atomic, biological, and chemical defense), and attained the rank of Sergeant. In addition to his medical background, Zaknun holds a bachelor's degree in robotics. Zaknun's transition to the crypto industry occurred in 2017, marking him as one of the early investors in the Initial Coin Offering (ICO) space. He co-founded TGE Alpha Corp in 2018 and was instrumental in setting up ICO DOG, a fundraising marketing agency.

How does DAO Maker work?

DAO Maker functions as a multifaceted platform catering to the needs of crypto startups. Its operational framework is designed to nurture and support these startups through various stages of their development. The key services offered by DAO Maker include:

Incubation of New Projects: DAO Maker serves as an incubator for emerging crypto projects, providing them with the necessary support and resources to develop and flourish.
Social Mining Rewards: The platform incentivizes community engagement through social mining. This involves rewarding users with tokens for contributing to the growth and improvement of crypto projects.
Advisory Services: DAO Maker offers expert advice and consultation to crypto startups, guiding them on efficient company management and strategic decision-making.
DAO Pad: This unique feature of DAO Maker acts as a dynamic monitoring tool. It allows users to track the progress of incubated projects and access exclusive opportunities that these projects offer as they evolve.
Strong Holder Offerings (SHOs): DAO Maker introduces an innovative solution with its Strong Holder Offerings. This lottery-based system prioritizes experienced and credible participants for token allocation, ensuring that the most committed and knowledgeable investors are rewarded.
Social Mining: In addition to the social mining rewards, this feature enables crypto projects to motivate their community members through token incentives. These incentives are designed to encourage active participation in the growth and enhancement of the startups.

Through these mechanisms, DAO Maker establishes itself as a comprehensive platform that not only aids crypto startups in their initial stages but also provides ongoing support and opportunities for community engagement and growth.

What Makes DAO Maker Unique?

DAO Maker stands out by providing startups with a secure and decentralized platform, fostering growth and allowing them to unlock their potential. The platform specializes in addressing common early-stage challenges, particularly in communications and public relations. It offers a suite of services including marketing, SEO, site development, and other tools essential for building a vibrant community.

The "DAO Pad," DAO Maker's launchpad, serves as a dynamic investment tool enabling users to follow and invest in the development of incubated projects. This feature allows for real-time monitoring and access to unique investment opportunities.

One of the platform's innovative solutions is the Strong Holder Offerings (SHOs), a lottery-style funding mechanism that prioritizes experienced and credible investors for token allocation. Participation in SHOs enables users to directly support and fund cryptocurrency projects through community contributions.

DAO Maker also offers Venture Bonds, another prominent product, providing investors with the opportunity to stake their digital assets for a guaranteed return, addressing some of the biggest challenges in funding.

Additionally, social mining is a significant feature of DAO Maker. This program allows crypto projects to distribute token-based incentives, motivating and engaging community members to contribute to the growth and enhancement of startups. This feature underscores DAO Maker’s commitment to community-driven development and collaborative progress.

What are the potential use cases for DAO Maker?

DAO Maker is designed to be a catalyst for crypto startup growth, offering a variety of services tailored to enhance their success in the early stages. Its use cases include:

Startup Incubation: Providing a nurturing environment for crypto startups, including guidance and resources needed for their development.
Community Building: Offering tools and services like marketing, SEO, and website development to help startups establish and grow their community presence.
Investment Opportunities: Through the DAO Pad, investors can track and invest in up-and-coming crypto projects, gaining early access to potential opportunities.
Funding Solutions: Implementing unique funding mechanisms like Strong Holder Offerings (SHOs) and Venture Bonds to secure financing for startups.
Incentive Programs: Utilizing social mining to reward community members who actively contribute to the startups' growth and improvement.

How Is the DAO Maker network Secured?

DAO Maker operates as an ERC-20 token on the Ethereum blockchain, which is a widely-recognized standard for issuing tokens. The security of the DAO Maker network is two-fold:

Blockchain Security: Since it runs on Ethereum, it benefits from the blockchain's security protocols, which, after Ethereum's upgrade to Ethereum 2.0, is based on the Proof-of-Stake (PoS) consensus mechanism. This mechanism is known for its security and efficiency.
External Audits: The DAO Maker smart contracts and protocols have been audited by CertiK and Hacken, both of which are respected entities in the blockchain security sector. These audits involve rigorous testing and analysis of the smart contract code and security infrastructure to ensure robust protection against vulnerabilities and cyber threats.

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

DAO Maker has its native token, known as DAO, with a fixed maximum supply of 312,000,000 coins. As of March 2023, there are 143,942,531 DAO tokens in circulation. The distribution of these tokens is structured as follows:

Sales: 25% of the total supply is allocated to both private and public sales, with a small fraction (0.4%) of the total supply designated for a public sale conducted in 2021.
Team: 20% of the tokens are reserved for the team behind DAO Maker.
Advisors and Future Team Members: 5% are set aside for advisors and potential future contributors to the project.
DAO-Managed Foundation: 10% of the tokens are dedicated to a foundation managed by DAO.
Foundation Funds: 7% goes to the foundation's funds.
Ecosystem Growth: 9% is allocated to support the growth of the DAO Maker ecosystem.
Incentives: 10% is purposed for various incentive programs within the platform.
Merger and Acquisition (M&A) Processes: 14% is earmarked for M&A activities.

The DAO token serves multiple purposes within the DAO Maker ecosystem. It is utilized as a governance token, granting holders the right to vote on key decisions, and also functions as a utility token, offering discounts on services and providing access to several features of the platform.

Additionally, DAO tokens are used to incentivize community participation. Members of the DAO Maker community can earn these tokens by engaging in activities such as staking, providing liquidity, initiating projects on the platform, and participating in governance. This token-based incentive system is designed to foster growth and development within the DAO Maker ecosystem.