DeXe Partners with HOT to Empower Telegram with DAO Creation
Kyiv, Ukraine, July 16th, 2024, Chainwire
DeXe Protocol and HOT are joining forces to boost on-chain decentralized governance.
DeXe Protocol, a leading DAO by treasury size and the largest on the BNB chain, has announced a strategic partnership with HOT, the fastest-growing web3 application and wallet boasting 16 million users and three million daily active users. This collaboration aims to increase the mass adoption of on-chain decentralized governance by leveraging HOT’s vast audience and DeXe’s cutting-edge infrastructure.
The partnership will introduce decision-making tools for HOT’s extensive user base, enabling a deeper level of on-chain interaction within a unified ecosystem. HOT currently hosts over 300,000 Villages—specific communities where users unite for collective HOT mining. The next phase for HOT involves transitioning to a DAO model, which will allow the community to participate in project decisions. These Villages will evolve into sub-DAOs with internal governance mechanisms, contributing to the main HOT DAO.
Villages will accumulate their treasuries with HOT tokens and other assets through HOT’s mechanisms and will receive rewards for their contributions to the HOT DAO. Operating on the DAO principle, these Villages will ensure fair distribution of benefits based on each member’s activity and balances.
DeXe will provide the technical architecture for this implementation, offering on-chain and off-chain decision making systems, meta-governance, incentive distribution, and other essential functionalities. This will allow DeXe to expand its user base significantly, by adopting thousands of Villages as DAOs and bringing millions of users under the HOT DAO structure.
HOT will benefit from a multi-level DAO system equipped with tools to retain and engage its community. This will create a transparent on-chain interaction tool for Village members, who will be incentivized for their contributions.
Further discussions are ongoing about deeper governance relationships between DeXe and HOT DAO, including delegation and mutual contributions.
Together, DeXe and HOT will enable each Telegram chat to create its own DAO, monetize its subscribers, and collectively farm benefits.With its expansive community, HOT Wallet gains much momentum for product placement, offering additional incentives from the partners’ projects. This initiative represents a promising example of a programmed economy created on the blockchain.
Previous Milestones
In early July, BOXY, the first DAO meme token fully managed by the community, was launched on DeXe achieving significant success in a short period. Recognizing this, HOT integrated BOXY into its ecosystem, providing utility for the token. Shortly after, HOT deployed its wallet on the BNB Chain. These developments have set the stage for the partnership between DeXe Protocol and HOT.
About DeXe Protocol
The DeXe Protocol is an advanced infrastructure consisting of over 50 smart contracts designed for creating and managing DAOs with a meritocratic approach. It ensures proper incentive alignment and offers wide flexibility to support fast and sustainable growth of DAOs, emphasizing active and valuable member participation and expertise. Governed by DeXe Protocol DAO, a decentralized autonomous organization, the Protocol aims for continued development and improvement. The DeXe Protocol DAO is focused on releasing and promoting the DeXe Protocol as the leading toolkit for both new and existing DAOs to build and refine their structures. Their mission is to provide infrastructure that enhances the power of decentralized governance, moving beyond traditional models to innovate and revolutionize the field. For more information, users can visit https://dexe.network/
About HOT
HOT is a rapidly growing web-3 application and wallet with 16 million users and 3 million daily active users. It offers a robust platform for collective mining and community interaction through its 300,000+ Villages. These Villages are specific communities where users collaborate for collective HOT mining and other activities. HOT is transitioning to a DAO model, allowing community participation in project decisions. This model supports fair distribution of benefits based on member activity and balances. HOT is committed to fostering a transparent, decentralized ecosystem that rewards active participation and contribution. For more information,users can visit https://hotdao.ai/
