Decentralized Autonomous Organization on IBAX

Creating a DAO in the IBAX network is very easy, creating an ecosystem means building a DAO organization. DAO is a decentralized autonomous organization, this organization is not governed by individuals and management, the rules and governance of each DAO are autonomously written and encoded in a smart contract on the IBAX blockchain, which can not be changed by anyone unless voted by the DAO members. The members of each DAO can jointly vote on decisions, where the rights are all equal without distinction of size, usually on an equal basis.

DAOs are more transparent than traditional organizations because anyone can see all the actions and money flowing through the DAO. This greatly reduces the risk of corruption and auditing. Because a DAO’s balance sheet exists on a public blockchain, it is completely transparent at all times, down to the exact point of each transaction.

DAO are typically easier to globalize and have lower barriers to members who want to enter the organization than traditional organizations. With higher transparency and lower barriers to entry, there are also lower switching costs for members of DAOs who do not agree with the rules and actions.

In the IBAX Network platform, eco-governance types can be diverse, ecosystems can create different types of governance according to the type and development direction, such as decentralized or centralized ecosystem or other governance types of the ecosystem that can coexist in the IBAX network. IBAX welcomes different governance types of ecosystems to join, and we embrace the existence of diverse eco-consensus.

As an ecosystem infrastructure, IBAX does not participate in the governance of the ecosystem, which is governed by established eco-governance in IBAX. the IBAX Network platform fully supports DAO to modify their own organization’s eco-parameters while following their own governance rules, even if they are eco-consensus mechanisms, eco-codes, governance, etc. All of these are governed by eco-managers or eco-members (depending on the eco-type).

In the IBAX network, we have created a unique eco-deduction system, IBAX eco-deduction system has a variety of fee models, you can choose the payment method according to the nature of the business flexibility, so that the eco-creators / developers focus on their own business, lower the user’s threshold so that users can easily get started, developers can also quickly gain access to the blockchain world market opportunities. So that the ecosystem in IBAX is different from other blockchain networks, the ecosystem operation in IBAX is independent, the establishment of the ecosystem in the IBAX network is not directly linked to the IBXC coin(IBAX’s coin). Ecosystems can operate and develop their created DAO organizations completely independently and are not directly affected by IBAX.

Creating an ecosystem on IBAX is like building a country on a unique planet, the planet provides the basic construction support and payment system, so you have a ready-made tool to build a country, but the country you build is governed in a decentralized way. In this country, people can use their own national currency for all transactions and can develop independently without the interference of the planet, thus greatly reducing the cost of people’s activities to attract more people to create ecosystems, which is conducive to the healthy development of the ecosystem, where the ecosystem is the main character of the planet, and the planet only plays the role of providing a construction tool.

IBAX team developed unique and complete visual development and environment deployment tools for ‘eco-partners’ and ‘developers’ to create a friendly development environment, lowering the threshold of development and encouraging developers to actively create their own ecosystems. IBAX will also provide a series of eco-incentives for the excellent eco-developers, the excellent developers can not only get IBAX incentive support but also get access to IBAX official promotions, which can greatly reduce the difficulty of development and operation costs.

Ecosystems are the shining stars that shine upon IBAX in the IBAX ecosystem.

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