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DAO Maker's Native Token Goes Live On KuCoin And Gate

February 12, 2021 10:46 am
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DAO Maker has been a mainstay in the crypto industry for over three years and after many requests from their community, DAO Maker has finally launched their native token. On February 8, 2021, DAO Maker announced that they would be formally launching their own native token, the DAO token.

This is taking place after the successful completion of their private sale through their next-generation DYCO 2.0, the DAO token is now available for public purchase through a number of platforms and exchanges. This makes them one of the latest blockchain projects to expand their reach into the crypto space.

DAO Now Live

It was announced that the token will be available for purchase on KuCoin as well as Gate.io. Both platforms confirmed the news on their official social media channels following the announcement.

As per the announcements, sales of the token will begin on February 9, 2021, at 9:00 (UTC) for deposits and trading and at 13:00 for withdrawals. Some key metrics of the token include DYCO as the token sale framework, a dynamic supply of 234M (max refund) to 312M, a dynamic hardcap of 2.73M — 7.8M, and a dynamic valuation of $10.92M — $31.2M.

The token is to be issued under a 65% DYCO. The implication of this is that tokens can be refunded for up to 65% of their initial value. Once refunded, the tokens will then be burned. A unique feature of this new sale is the Toll Bridge option that allows buyers to skip the vesting schedule and exit the market early by burning their tokens. By paying a toll fee, which is considered a part of the vested tokens which are then burned, they may unlock all or part of their tokens.

Customers can either choose to adhere to a vesting schedule and receive 20% of their purchase amount each year or burn a part of their tokens and exit earlier. In the announcement, DAO Maker cited the success of the Orion Protocol as a factor that influenced their decision to enter the token market. A number of innovative blockchain products, such as the Orion Protocol, have entered the crypto market to great success and DAO Maker is hoping to follow in their footsteps.

It is important to note that any listings on any exchanges not formally announced by DAO are advised to be avoided. Finally, the community behind DAO Maker, who have asked for a token for years, was acknowledged as the driving force behind this new venture.

“We are proud to share this moment with our loyal followers, supporting us for the last 3 years and placing their trust in DAO Maker’s Vision,” the statement said.

Disclaimer: the writer does not have a relationship with DAO Maker. This article is not financial advice and is educational in nature. Please consult your financial advisor before investing in any digital currencies or projects.

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Cryptocurrency Markets

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