Create a DAO
DAO creation will take only 5 minutes.
XDAO journey starts from the Home page, where you can see your DAOs and other general Info.
To create a DAO, click this button on the Home screen.
Or go to "Create a DAO" section in the submenu.
Make sure you're connected to the right blockchain. And also make sure your personal wallet, for examle Metamask, is connected to the same network.
"Create a DAO" section is pretty simple. Name your DAO and give it ticker symbol (which is actually a Governance Token – GT), add partners' addresses, set up a quorum by giving your teammates the necessary amount of GT.
We recommend to mint 1, 5 or 10 GT tokens to each teammate. The shares are simply easier to count.
This percentage shows the person's voice weight in the DAO.
Governance Tokens (or GTs) are minted right at the moment of a DAO creation and have the same address as the DAO. Governance tokens represent the voting power in this DAO.
Do NOT mint GT tokens to the DAO address. Being a smart contract, the DAO will not be able to vote on its own! Hence, GTs need to be minted to an individual's public key. Be careful by minting GTs and setting up the quorum. If you set your quorum threshold too high, it may never be reached and you would need to create a new DAO.

How to choose the right quorum?

A quorum is the minimum number of members in a DAO necessary to conduct the business of that group. According to Robert's Rules of Order, the "requirement for a quorum is protection against totally unrepresentative action in the name of the body by an unduly small number of persons." In contrast, a plenum is a meeting of the full (or rarely nearly full) body.
Quorum voting requires a certain threshold of voters in order for a proposal to pass (for example: 60% quorum, which means 60% of voting power needs to vote). Once this threshold has been met, whichever decision has more votes wins. Without reaching the quorum threshold, proposals fail.
Imagine, you have a group of 3 DAO members. Each of them holds 10 GT tokens and votes are distributed accordingly – 33.3% of each member.
If you decided that the quorum can be reached if the two members voted, then the quorum threshold should be between 34% and 66%.
When you are ready to submit your DAO click "Create a DAO".
Note, to prevent a DAO from fraud, GT tokens cannot be sent to any person without voting.

Add funds to DAO balance

Assets to the DAO can be added in 2 ways:
  1. 1.
    By sending funds from a personal wallet directly to the DAO;
  2. 2.
    Through the purchase of LP tokens.
The second option is more correct, since only the owners of LP tokens have a share in the DAO and can withdraw their funds from it.
If you send funds directly to the DAO without purchasing LP tokens, you will not be able to claim your share from the DAO even though you have GT tokens.
Add funds to a DAO balance scheme
To see the portfolio of any DAO, use the portfolio tracker from the list provided.
Join XDAO club:
📲 TG Global: https://t.me/xdao_eng
📲 TG Announcement: https://t.me/xdaoapp
📲 Medium: https://blog.xdao.app/