DeXe’s partnership with HOT to turn 300,000+ virtual “villages” into subDAOs
Assisting even a single community in becoming an effective and equitable DAO is a significant achievement. Helping a community turn its 300k+ “villages” into subDAOs in a highly customized DAO could be the poster child for the next stage of DAO evolution. And it’s all getting built on the DeXe Protocol, thanks to our new partnership with HOT.
HOT is turning heads with its ultra-secure, user-centric crypto wallet, which — in a very short time — has gained 16 million users and 3 million daily active users. HOT’s user-centric approach is evident in how it engages its community. It built a robust platform for collective mining and community interaction through its 300,000+ Villages. Each such Village is a specific community for users to collaborate on collective HOT mining and other activities.
That was stage one, and it has been wildly successful. Now, HOT wants to transition to a DAO model so that its community can fully participate in project decisions. There are many benefits to be gained from mining HOT and other community actions. The team behind HOT wants to let its community access those benefits transparently and with a real seat at the decision-making table.
This is where DeXe comes in. With the DeXe Protocol’s flexibility, composability, and ease of implementation, HOT can quickly build a unified, customized DAO for its massive community of Villages. DeXe will allow these Villages to act as subDAOs, with each Village running its own internal governance mechanism. Each Village will accumulate its earnings in both $HOT and other tokens into its own Treasury so it can fund its own initiatives and exercise full control of its future. Importantly, each Village will be able to implement its own system for distributing rewards among members based on individual contributions.
Simultaneously, these subDAOs will be incentivized to contribute to the overall benefit of HOT DAO. Likewise, the subDAOs would benefit from the overall success of HOT. This symbiotic relationship between the main DAO and its hundreds of thousands of subDAOs is made possible by all the functionalities within the DeXe Protocol. Moreover, they can use the Protocol to connect to any outside projects for even wider integration.
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. HOT’s next phase 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.
DeXe and HOT are currently discussing the best ways to take this partnership even further, such as — for example — by creating a delegate subDAO.
As HOT keeps gaining momentum and users, its value will rely more and more on how well it empowers its community. Shifting to such a symbiotic DAO/subDAOs model on top of the DeXe Protocol holds the key to HOT’s longevity. Meanwhile, for DeXe, this serves as a great demonstration of what our Protocol is capable of and as a vote of confidence in DeXe being the backbone of the future of DAOs.
Stay tuned!
