Gnosis and DAOstack has partnered together to bring forth a purely decentralized exchange dubbed as the dxDAO.
Gnosis and DAOstack has reportedly raised around $12 million from anonymous investors as the two companies attempt to start the operations on its exchange dxDAO.
The CEO and founder of Gnosis, Martin Koeppelmann, says that the new initiative is an experiment to start a startup with 1,000 cofounders.
Kirk Dameron, A ConsenSys grandee who was deeply involved in the first DAO initiative in Ethereum states that the dxDAO is one of the first large scale DAO experiments, truly a DAO in practive, not in name only.
The idea of Decentralized Autonomous Organization or commonly known as DAO is said to be fundamental to modern crypto which rather than being hierarchical and managed from top down , the DAO does away with CEOs, a board and old-fashioned equity investment.
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