The DAOstack collective attention token GEN, will be listed on Liquid, the newly-launched cryptocurrency exchange by Quoine, starting October 9th, 12:00 JST. GEN-ETH, GEN-BTC, and GEN-QASH trading pairs will be available to start, with GEN-fiat trading pairs available in the near future.
DAOstack is designed to be a kind of WordPress for decentralized autonomous organizations (DAOs), a new type of Web3-native organization that allows like-minded communities to act on shared goals or values without depending on concentrated power centers. The GEN token will soon link a network of DAOs built for a variety of purposes on the DAOstack platform.
DAOs using the GEN prediction network will be able to effectively filter proposals by their predicted chance of passing. This allows DAOs to remain values-aligned and efficient while scaling to potentially any size. GEN lets individuals both inside and outside the DAO lend their expert attention in exchange for a chance to profit and be rewarded for correct predictions.
GEN-based prediction is native within Alchemy, DAOstack’s first application for decentralized governance, whose Alpha release is currently live on the Ethereum mainnet. With a full release targeted for 2019, Alchemy will make it simple for DAOs of unlimited size to smartly allocate resources and voting power.
A community of predictors is already active and growing, and its increasing size, expertise, and network effect will benefit all DAOs using Alchemy. Since predictors must hold GEN to stake on proposals, they have an additional incentive to help all GEN-connected DAOs achieve their goals.
DAOstack’s strategy for GEN includes many of the features that made Ethereum successful. For one, DAOstack is stimulating product and community development by channeling funds from its token sale through the Genesis DAO, the first DAO deployed using the DAOstack platform, created as a proof of concept and an open-source foundation for DAO development.
Also, like Ether, GEN has a highly generalizable utility, as Matan Field, DAOstack architect, and CEO, has pointed out:
“In the same way that ether is gas for the collective attention of computers, the GEN token is gas for the collective attention of human beings.”
With GEN’s listing on Liquid, DAOstack is excited to be taking the next step toward an open, growing ecosystem of decentralized organizations.
Quoine is a leading global fintech company that provides trading, exchange, and next-generation financial services powered by blockchain technology. With offices in Japan, Singapore, and Vietnam, Quoine combines a strong network of local partners with extensive team experience in banking and financial products to deliver best in class financial services for its customers. More information is available at www.quoine.com
In September 2017, Quoine Corporation became the first global cryptocurrency exchange to be officially licensed by the Japan Financial Services Agency. In September 2018, the two exchanges owned by Quoine, Quoinex, and Qryptos, were merged and relaunched as Liquid. Liquid will be powered by Quoine’s World Book, which provides customers with enhanced price matching and deeper liquidity for various fiat and cryptocurrency pairs. More information can be found at liquid.com