# DXDao
TL;DR: DXDao Case Study DXdao is a decentralized collective that builds and governs decentralized products, aiming for transparent and fair consensus. It launched on Ethereum Mainnet on May 19, 2019. * **Reputation (REP):** REP holders govern DXdao, with REP being non-transferable and tied to Ethereum addresses. Initial REP distribution involved 399 addresses through actions like ETH deposits and trading. * **Bonding Curve and DXD:** DXdao introduced DXD tokens to raise funds, implementing a linear bonding curve model to mint DXD in exchange for ETH. The curve aimed to maintain a stable reserve ratio and fund the treasury. * **Treasury and Funds:** DXdao has accumulated a treasury worth approximately $50 million, including 25,000 ETH, through various fundraising and trading activities. * **Challenges and Adjustments:** The bonding curve faced issues like price discrepancies and arbitrage, leading to treasury drain. A proposal to pause the curve was eventually approved in December 2020 after extensive debate. * **Curve Redesign Considerations:** Community discussions proposed halting the bonding curve and exploring new designs, including an exponential bonding curve, to better align with market conditions and system goals.
DXdao is a decentralized collective that builds and governs decentralized products and services for the world. It aims to be an open community that reaches consensus in a transparent and fair way. DXdao launched on Ethereum Mainnet on `May 19, 2019`, through a collaborative effort of the teams at Gnosis and DAOStack. Reputation (REP) holders govern DXdao. REP is not a token; it is associated with an Ethereum address and cannot be transferred.A total of 399 Ethereum addresses participated in the initial REP distribution. There were 3 major ways to receive REP during the launch phase: * 380k in lock drops rewarded for depositing ETH (80k) or other ERC20 tokens (300k) for a two week period * 500k from trading on the DutchX exchange and registering MGN * 100k for purchasing REP with GEN

Reputation.Score = Amount.of.token × Locking-duration-in-days × Price.of.token.at.the.time.of.lock

At the outset, there were 1 million Reputation (REP) tokens available for voting within DXdao. Of these, 98% (980,000 REP) were earned during the Vote Staking Period through several actions: * locking ETH * locking tokens that were whitelisted and * traded on the DutchX, * registering on Magnolia (MGN), and * bidding GEN in auctions. The remaining 2% (20,000 REP) of the initial Reputation is reserved for allocation by DXdao during the Governance phase. During this phase, DXdao had the authority to award the unallocated 2% of Reputation to "DAO Storytellers," individuals who actively promote and support the DXdao. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://bonding-curve-research-group.gitbook.io/bonding-curve-research-group-library/case-studies/dxdao.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.