Project DAOStack has announced the listing of its native token GEN on the Liquid crypto exchange on October 9th.
Quione was the first global cryptocurrency exchange to be officially licensed by the Japan Financial Services Agency. Earlier this year in September, the two exchanges owned by Quione, Quionex, and Qryptos, were merged and relaunched as the currently known Liquid exchange.
Liquid will be powered by Quione’s World Book, providing customers with enhanced price matching and deeper liquidity for the various cryptocurrency and fiat trading pairs that are offered to traders around the world.
The first trading pairs that will be supported by the exchange are GEN/ETH, GEN/BTC, as well as GEN/QASH. Looking to become a decentralized WordPress for DAO, DAOstack will be a new kind of Web3-native organization, allowing similarly minded communities to work together aligned by common values or goals.
GEN token’s main goal will be to link these communities and a various network of DAOs for different purposes on DAOstack’s platform.
GEN relies on a crowd of wisdom, allowing experts and individuals alike internally and externally to submit their input on different topics. Sampling such a broad user base will enable predictions to be extremely accurate in deciding which DAOs are aligned with the values of the platform and have the best chance of scaling to any size.
DAOstack’s first decentralized application is Alchemy. The DApp that looks to bring decentralized governance to the masses is already live with its Alpha release on the Ethereum mainnet.
Furthermore, a community of predictors is already expanding and will continue to grow in size, expertise, and network effect, as more DAO’s connect is being added to Alchemy. Predictors are not only crucial as stated above for filtering proposals, but are also working on helping the projects succeed, as predictors must hold GEN to stake proposals.
To increase the chances of success for DAOstack and the network as a whole, they are borrowing many strategies that helped Ethereum become the cryptocurrency it currently is. For example, funds are being channeled into the Genesis DAO, and the first DAO is deployed using the DAOstack platform.
It will only stimulate product and community development, but also serve as proof-of-concept and open-source foundation for DAO development.