xDAC Development Update
Company Voting, Company Financials, Referral Program, Exchange, ICO, Bounties Distribution
We continue expanding possibilities of what xDAC companies can do on the platform and voting section is one of the key components that was just deployed to xDAC mainnet.
Voting
The xDAC platform currently offers company registration and the launch of token sale. However, in order for a company to function, it needs at least one executive.
As soon as the company sells more than 50% of its equity, the voting option becomes available and token holders can elect their first executive. Company executives are responsible for the control and management of the business and affairs, wallets, property, and interest of the company, and may exercise all powers of the company, except such as those reserved to the equity token holders.
Company tokens represent voting power in the company, and token holders can use this power to vote on company proposals. During voting, company tokens are staked (locked) to prevent double voting. Tokens are automatically released after the end of the voting term or after voting concluded, whichever is earlier.
Token holders have the option to vote on election or removal of executives, an increase of token supply or any other general company proposals. More voting types will be added with further development of the platform.
Company Financials Next
Management of company financials is the next logical step in our development. This feature will be available to company executives and later, to selected company employees. The companies will be able to send or receive payments, send invoices which are instantly payable in cryptocurrencies, place Buy button on their websites and most importantly, create subscriptions which are impossible with any other network or cryptocurrency.
Referral Program
We integrated a new option for referrals to invite companies to register on the xDAC platform. Anyone who invites company by using link https://xdac.co/r/<your_account_name> will receive 5% of the company initial capital after the company sells its tokens.
xBase Exchange
xBase exchange, with a launch planned for December 2018, will focus on various cryptocurrencies including XDAC coins and xDAC companies.
ICO and bounty distribution
Even though bearish market conditions persisting for almost a year, we were able to sell close to 12M XDAC tokens in this round of ICO. Remaining 8M tokens reserved for this round will be distributed between investors who participated in ICO and purchased XDAC tokens.
All bounty submissions are currently being verified, and we will start with distribution as soon as verification ends.
