DAO Capital invests in Idexo — the easiest way to integrate different blockchain features in an application
DAO Capital is proud to announce our recent investment in Idexo - offering the easiest way to integrate different blockchain features in your application. Using idexo, developers can easily create, mint, and deploy NFTs and tokens, and NFT Marketplace contracts across multiple different blockchains. All you have to do is simply download a single SDK and use a single API.
With just one line of code, you can create an NFT on Binance Smart Chain (BSC) Mainnet with the image and token metadata stored on Arweave.
This is just one example of the power of idexo. All the complex transactions and storage procedures are handled by the idexo API.
In addition to building this transaction infrastructure, idexo builds unique applications on top of it. An example of that was the world’s first NFT bot that let members of the idexo Telegram group mint their own Early Adopter NFTs from within the group using a simple command.
With as little as one line of code, Idexo allows you to do the following:
Create an NFT on the following networks:
- Ethereum/Arweave, BSC/Arweave, Polygon/Arweave, Avalanche/Arweave
Deploy NFT Minting Contracts to:
- Ethereum, BSC, Polygon, Avalanche
Use different types of minting contract parameters such as:
- Capped: restricts the number of NFTs that can be minted
- Priced: sets prices for the NFTs to be paid in order to acquire them
Create Fungible Tokens
Deploy ERC20-type contracts to:
- Ethereum, BSC, Polygon, Avalanche
Mint those tokens and use other smart contract methods
Use different types of token contract parameters such as:
- Capped: restricts the number of tokens that can be minted
- Pausable: pauses transactions on the smart contract as an emergency brake mechanism
Upload to Arweave
- Upload a Plain Text File to the Arweave Permaweb
- Upload an HTML file to the Arweave Permaweb
- Upload a JSON file to the Arweave Permaweb
- Upload an Image file to the Arweave Permaweb
Arweave is a permanent and decentralized file storage platform.
An app often requires several different services and features. It may need to create, mint, and deploy multiple different assets. In addition, the app may need to support multiple different blockchains. Especially in the current crypto environment, multi-chain functionality is basically a necessity. To integrate all these features in a single app, developers would normally need to import multiple libraries and use multiple APIs.
As a result, developers end up dealing with the following issues:
- Significant overhead
The more code you write, the more bugs you’ll run into. Using multiple different services increases the complexity of your app. It requires significantly more work to implement. It will also likely decrease the performance and speed of your app.
2. Difficult maintenance
Having to maintain multiple different dependencies is no easy task. Libraries and APIs can be changed, updated, or have deprecated features. Keeping up to date on every dependency wastes time.
3. High cost
A lot of APIs require subscriptions for premium features. You may find yourself racking up fees from multiple different services.
Idexo helps you avoid all these pitfalls. It allows for the creation of different types of assets across different blockchains. All you need is a single SDK and API.
To pay for your transactions you buy simple Compute Credits from idexo that pay for the underlying gas on the networks you use at a predictable purchasing power.
Simplifying the NFT creation process
While idexo can create simple NFTs, it is especially useful for NFTs that require metadata storage.
Often times, people refer to a piece of digital art as an NFT. However, the actual Non-Fungible Token (NFT) does not store the image data. The actual image is stored off-chain on either a centralized server or a distributed file storage service like IPFS. The Non-Fungible Token, a smart contract stored on the blockchain, simply stores the URL of where the image data is stored. In other words, the NFT will point to where the actual image file is stored.
As a result, there are typically three main steps to create an NFT:
- Create a Non-Fungible Token (NFT) on a blockchain network
- Upload the metadata (image, gif, etc.) to a storage service
- Map the NFT to the metadata location
Idexo allows you to perform all three steps in just one line of code.
The $IDO “I do” token will be idexo’s native token. It is scheduled to launch in Q2. Developers won’t need to hold any tokens to freely use the idexo SDK and API.
However, the $IDO token will have two main utilities:
1. Staking rewards
Stakers of the $IDO token will receive a certain percentage of transaction fees and subscription license fees generated from the product. Stakers can stake in a general pool or directional pools that target specific features or products in the roadmap.
2. Governance — stakeToken
Staking $IDO tokens generates stakeTokens. The stakeToken will essentially act as a governance token for idexo. The token will be used to vote on community incentives and future integrations.
Examples on what you could vote for:
You can already create and deploy assets on Binance Smart Chain, Ethereum, Polygon, Avalanche and Arweave. However, more blockchains will be added in the near future.
Want to create tokens on Polkadot? Solana? Tezos?
StakeToken holders will have a say in which chains idexo will support.
As of now, you are able to create regular tokens and tokens with a fixed supply.
Want a rebase token? Want a burn mechanism?
You can vote on these types of characteristics as a stakeToken holder.
Idexo plans on having over 100 integrations by the end of the year. StakeToken holders will have a say in many of those integrations.
Idexo recently released its idexobot that enables members of a Telegram group to mint NFTs. Have ideas of how that can be configured? Want to see more products like the idexobot? You can vote on new products and have a new directional staking pool created to ‘vote with stake’ on it. You will also earn a greater share of the rewards if that new product is successful.
Blockchain and cryptocurrency based applications are becoming increasingly complex with the need for multi-chain and multi-asset functionality. Idexo drastically reduces that complexity. With just a single SDK and API, developers can create a multi-asset and multi-chain application with ease.
About DAO Capital
DAO Capital is a community-governed investment fund consisting of blockchain advocates that provide genuine value and services to new projects by offering our expertise in four critical areas: Funding, marketing, engagement, and sustainability.
DAO Capital has a long-term vision towards the projects that we invest in, ensuring sustainability, growth, and security. Code is the basis of blockchain innovation, yet the communities surrounding the networks are what give them value. Our commitment extends far beyond simple investing. To date, Dao Capital has invested in numerous significant crypto projects such as Massbit, Nftfy, Xend Finance, Idexo, Aubit, Pollen, Yield App, YOP Finance, Archer DAO, Geeq, and SigmaDex.