As a subclass of DAO, an xDAC is a company on a decentralized network with a built-in Proof of Work (PoW) incentive mechanism, a comprehensive governance and management tools, and a support system for DApps - all housed on top of EOS. The xDAC governance is regulated by an xDAC platform – designed as a self-sustainable decentralized ecosystem consisting of businesses motivated to reap the benefits of their success without geographical limitations.
xDAC is a Decentralized Autonomous Company created and operated on xDAC Platform, decentralized digital ledger, by one or multiple human or autonomous agent owners or a mixture of both that share a common purpose and unites in order to achieve specific, declared goals.
The focus of an xDAC platform is not just company creation and token distribution, but establishing standards for decentralized businesses. An xDAC platform takes full advantage of decentralized ledger technology and lets anyone create and manage company without the limitations of geography.
Centralized businesses have a single point of failure and setting up global operations come with their own set of legal and regulatory issues.
An xDAC Platform is focused on creating a comprehensive framework for entrepreneurs, teams, autonomous agents and investors in crypto space – all of whom benefit from a decentralized entity.
GOVERNANCE AND DISPUTES
The xDAC platform establishes digital jurisdiction over xDACs created and operated by business owners. Disputes with third parties are resolved expediently and objectively through a decentralized Dispute Representative Board (DRB).
OWNERSHIP AND TOKEN ISSUANCE
Owners have option to issue a certain number of voting or non-voting tokens through a smart contract and distribute them between the owners or public via ICOs or a token sale.
The most important part of each company is payment processing and the use of digital wallet technology. An xDAC platform will create a wallet with merchant tools for each xDAC upon the establishment of a company on the platform.
An xDAC Liability Fund is coverage in case the xDAC's debts or liabilities exceed a certain debt-to-equity ratio. It is calculated as a percentage of received payments until certain threshold is reached. This protects investors in case of xDAC default.
PoW PERFORMANCE RATING
xDAC’s PoW mechanism allows for an automated rating system to track the effectiveness of team members and companies and distribute the platform profit by way of participation.
PROJECT AND TEAM MANAGEMENT
Project and team management is a key feature of PoW Performance Rating. It helps xDAC keep up with tasks, scheduling, and distributing automated payments to team members.