Ethereum and Solana Just Killed Venture Capital With Coinbase-Backed DAODAO

Takeaways:

• DeSo, a new blockchain that has raised $200 million from Coinbase, Sequoia, and Andreessen Horowitz, just launched DAODAO, a breakthrough cross-chain fundraising platform.
• DAODAO allows entrepreneurs to launch fundraising rounds with coins immediately tradeable on an on-chain order-book exchange.
• Founders can raise capital with any currency, including fiat cash, Bitcoin, Ethereum, Solana, DeSo, and USDC, and cash out directly to USDC.

LOS ANGELES, Oct. 12, 2022 /PRNewswire/ -- Today, the fundraising process for founders is highly-centralized, with a handful of elite venture capitalists controlling who gets funded.

That could soon change as blockchains like DeSo enable founders to raise money from millions of people worldwide with just the click of a button.

A new app called DAODAO is launching today at the forefront of this disruptive trend. DAODAO allows any Bitcoin, Ethereum, or Solana user to invest in promising founders before they go to pitch venture capitalists.

Fundraising on DAODAO is as easy as creating a social media account. Funds automatically convert to USD, and founders can cash out seamlessly to USDC.

Founders can give contributors a liquid token with their purchase, which can immediately trade on DeSo's decentralized on-chain gas-less order-book exchange.

"DeSo is the only blockchain that could support something like DAODAO today," says Arash Ghaemi, Growth Marketing Lead at DeSo. "DeSo's recent USDC integration and the use of MegaSwap to convert crypto into USD were both critical, and no other chain has both. On top of that, DeSo's order-book exchange is the fastest in the world, capable of performing 40,000 matches per second," he continues.

DeSo can also support unique social features leveraged by DAODAO, including an on-chain social graph. "It costs about $75 to store a 200-character Tweet on Ethereum and about fifteen cents to store it on Solana, Avalanche, or Polygon. In contrast, DeSo is one ten-thousandth of a cent, making it the first blockchain capable of disrupting storage-heavy applications like social fundraising. It is the Social Layer for all web3," Founder of DeSo, Nader Al-Naji, adds.

This is the latest in a recent string of successes for DeSo. The platform launched a groundbreaking MetaMask integration last week that has caused a significant price surge.

With the launch of DAODAO, DeSo's true disruptive power becomes apparent. It is a platform that can disrupt social media and the trillion-dollar early-stage financing market.

SOURCE DeSo Foundation