DAOfi is a decentralized exchange (DEX) built for tokenized communities. The entity in charge of DAOfi plans to collaboratively partner with experienced development teams to execute on protocol development, and ensure the success of the network’s future. DAOfi tokens are issued by DAOfi Limited.
After years of growth and maturity of Web2 and mobile app social networks, it has become clear that there are strong network effects around today’s dominant social platforms like TikTok, Instagram, Snap, Facebook, WeChat and others. The users that have adopted these platforms create network effects by adding more value to the service as each member joins, and therefore creating moats of defensibility against competitors.
Although the Web3 tech stack and introduction of ERC-20 assets, NFTs, Ethereum wallets, and DEXes have all been profound in their pioneering innovations, we have yet to see mass adoption of Ethereum-based technology by global mainstream social communities. This is in large part due to friction and learning curve in user-experience, but also due to poorly structured distribution strategies.
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