$8 Million Locked Into DAO Within Hours – Details

$8 Million Locked Into DAO Within Hours

The cryptocurrency markets have regained upward momentum over the past 24 hours. Bitcoin (BTC) and ether (ETH) are trading at $8,726.7 (+2.5%) and $283.9 (+7.8%) respectively.

Less than 24 hours after its mainnet launch, the dxDAO – a decentralized autonomous organization (DAO) for community governance of software protocols has locked $3 million worth of ether (ETH) and $5 million worth of various ERC-20 tokens into its smart contracts.

The first thirty days of the dxDAO’s existence which is called the Vote Staking Period is a period wherein participants are able to earn Reputation, which represent voting power within the DAO. According to its whitepaper, “the dxDAO is built on DAOstack’s framework and Reputation is the intrinsic DAOstack voting power signifier.

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