{"id":161396,"date":"2018-08-09T20:00:55","date_gmt":"2018-08-10T00:00:55","guid":{"rendered":"https:\/\/insidebitcoins.com\/news\/excraft-launches-first-dao-user-governed-cryptocurrency-exchange\/161396"},"modified":"2021-08-09T11:09:02","modified_gmt":"2021-08-09T15:09:02","slug":"excraft-launches-first-dao-user-governed-cryptocurrency-exchange","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/excraft-launches-first-dao-user-governed-cryptocurrency-exchange","title":{"rendered":"ExCraft Launches First DAO, User-Governed Cryptocurrency Exchange"},"content":{"rendered":"

\"excraft\"Hong Kong<\/strong>\u00a0\u2013 ExCraft (www.excraft.com<\/a>), a cloud-native cryptocurrency exchange based in Hong Kong that implements a DAO governance ran by the users and pools, was launched. ExCraft stands out by being a community and pool focused exchange, rewarding traders through a combination of \u201cProof of Existence\u201d (PoE) and \u201cProof of Stake\u201d (PoS) mechanisms, allowing power-users to create pools, vote for new project listings, and even create dedicated pool exchanges based on its immutable and fair PoE and PoS meritocracy.<\/p>\n

The first DAO-based exchange \u2013 \u201cExCraft, Craft Your Own Exchange!\u201d<\/strong><\/p>\n

ExCraft<\/a> introduces the first decentralized autonomous organization exchange managed based on a single or pooled user trade volume meritocratic Proof of Existence voting system. Verified KYC (Know Your Customer) users will be able to vote on listing new projects to be sponsored in the exchange. The ExCraft community values all users input as well as those who trade most frequently.<\/p>\n

\"ex<\/p>\n

The governance of the DAO will combine ExCraft with a Congress and a Senate made of Pool Masters and Grand Pool Masters to which all votes will be submitted. All votes will be subjected to a Congress and a Senate smart contract voting based on both KYC users and the meritocratic system:<\/p>\n