DAOstack’s GEN Token Now Listed on Quioine’s Liquid Exchange
October 13, 2018 by Bitsonline PR
Decentralized intelligence startup DAOstack has announced the successful listing of its native GEN token on the Liquid cryptocurrency exchange recently launched by Quoine. Since October 9th, GEN has been available for trading against BTC, ETH and QASH, with trading against fiat pairs slated for the future.
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Quione is a major fintech firm providing next-generation financial services enhanced with blockchain innovation. With locations in East and Southeast Asia, Quoine Corporation made its mark by becoming the first international cyptocurrency exchange to obtain Japan’s Financial Services Agency license.
Its two exchanges, Quoinex and Qryptos, merged in September 2018 and is now relaunched as Liquid, to provide enhanced price matching and liquidity for multiple fiat and crypto pairs.
With this listing, DAOstack looks forward to the next phase of an open source, thriving ecosystem of decentralized and autonomous organizations.
Decentralized Intelligence, at Scale
GEN is a collective attention token, which will power DAOstack by linking a network of decentralized autonomous organizations (DAOs) built for a diverse range of purposes on the DAOstack platform. The platform acts as new type of Web3-native organization to facilitate the actions of communities sharing the same values and goals, without the reliance on centralized points of power.
DAOs can tap into the predictive power of the GEN network to filter proposals by a crowd predicted chance of passing, allowing them to stand aligned to their values efficiently while giving them the ability to scale almost without limits. Individual users either within DAOs or external to them can also use GEN to lend their expert attention – for their share of potential profit and rewards for giving correct predictions.
DAOstack’s first decentralized governance app, Alchemy, uses native GEN-based predictions, and is currently running live in alpha mode on the Ethereum mainnet. With a scheduled full release in 2019, Alchemy will allow DAOs of any size to easily perform smart allocation of resources and voting power.
With an active and growing community of predictors, the network effect of incremental size and expertise is expected to benefit all DAOs utilizing Alchemy. With GEN required to stake on proposals, there is also added incentive to assist all DAOs connected to GEN in reaching their objectives.
Learning from the success of Ethereum, DAOstack has ensured that its strategy for GEN mimics many features, such as the stimulation of product and community development via the funds raised from the Genesis DAO token sale, the first deployment of DAO on the DAOstack platform. This resource has contributed to the development of a Proof of Concept and open-source foundation for the further development of DAO.
DAOstack architect and CEO Matan Field compared GEN’s highly generalizable utility to Ether, in that GEN token mirrors Ether’s use as gas for the collective attention of computing power, except that GEN is the “gas for the collective attention of human beings”.
To learn more about the collective intelligence platform for decentralized collaboration at scale, visit the DAOstack website and read the DAOstack whitepaper. To interact with the growing community of experts using GEN and DAOstack, join the official channels on Telegram, Facebook, Twitter, Medium and Reddit.
Image via DAOstack
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