Ethereum and Solana disrupt venture capital with Coinbase-backed DAODAO

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Los Angeles, CA, October 12, 2022, Chainwire

Take away food :

  • DeSoa new blockchain that raised $200 million from Coinbase, Sequoia and Andreessen Horowitz, has just been launched DAODAOa revolutionary cross-chain fundraising platform.
  • DAODAO allows entrepreneurs to launch fundraisers with immediately tradable coins on an on-chain orderbook exchange.
  • Founders can raise capital with any currency, including fiat cash, Bitcoin, Ethereum, Solana, DeSo, and USDC, and cash out directly to USDC.
  • Founders can also access on-chain social features such as on-chain end-to-end encrypted messaging and group chats, on-chain profiles, on-chain content, and an on-chain social graph.

Today, the fundraising process for founders is highly centralized, with a handful of elite venture capitalists controlling who gets funded and who doesn’t. Additionally, founders typically have to wait ten years or more for their company to “go public” and trade on a liquid exchange. But that may soon change as blockchains like DeSo enable founders to fundraise from millions of Bitcoin, Ethereum and Solana users with a single click.

A new application called DAODAO is launched today at the forefront of this disruptive trend. Built on the DeSo blockchain, backed by Coinbase, Sequoia, Andreessen Horowitz and others, DAODAO allows any Bitcoin, Ethereum or Solana user to invest in promising founders before they will launch venture capitalists.

For founders, setting up fundraising on DAODAO is as easy as creating a social media account. Funds are automatically converted to USD and founders can seamlessly cash out to USDC at any time.

However, the coolest part of DAODAO is that founders can give backers a liquid token with their purchase, which can immediately be traded on DeSo’s gasless decentralized order book exchange.

Such a breakthrough raises the question of whether the traditional fundraising model of waiting ten years for a company to trade on the open market might now be obsolete.

“DeSo is the only blockchain that could support something like DAODAO today,” says Arash Ghaemi, Head of Growth Marketing at DeSo. “The recent DeSo USDC Integration and the MegaSwap exchange facility to convert crypto to USD were both essential, and no other chain has both. On top of that, DeSo’s order book exchange is the fastest in the world, capable of performing 40,000 matches per second,” he continues.

DeSo is also able to support unique social features operated by DAODAO, including on-chain profiles and social on-chain graph. “It costs around $75 to store a 200 character Tweet on Ethereum and around fifteen cents to store it on Solana, Avalanche or Polygon. In contrast, DeSo is one ten thousandth of a cent, making it the first blockchain capable of disrupting storage-intensive applications like social fundraising. It’s really the social layer for the whole web3,” adds DeSo founder Nader Al-Naji.

It’s the latest in a recent string of successes for DeSo. The Coinbase-listed platform earlier this year announced revolutionary MetaMask integration last week which caused a significant price spikeand many new social apps like diamonda web3 social network based on DeSo, have launched and are growing rapidly with a recent increase in the number of users.

Recently, the platform announced a USDC integration which attracted many new builders to the ecosystem, including DAODAO.

With the launch of DAODAO, the true disruptive power of DeSo becomes apparent. It is a platform that can disrupt social media and the trillion dollar seed funding market.

About the DeSo Foundation

DeSo is a new layer 1 blockchain designed from the ground up to decentralize social media and scale storage-intensive applications to billions of users. They have raised $200 million and are backed by Sequoia, Andreessen Horowitz, Coinbase Ventures, Social Capital, Polychain Capital, Winkelvoss Capital, Pantera and others.

$DESO, the native currency of the DeSo blockchain, is listed on Coinbase.

Check out the full roadmap and claim your username at deso.com.

Contact

Growth Marketing Manager
Ash Ghaemi
DeSo Foundation
[email protected]

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