Ethfinex Launches Funding DAO

Today we reach an important milestone in our path to decentralised governance of Ethfinex. We have collaborated with decentralisation protocol experts DAOstack to create an experimental funding Decentralised Autonomous Organisation (DAO), efxDAO.

Using the Alchemy interface and governance protocol, the efxDAO has been allocated a trial budget of $5,000 and initially tasked with making meritocratic funding decisions for Ethfinex Trustless and Nectar initiatives.

The 21 founding members of efxDAO are made up of three equally sized groups that reflect the existing Ethfinex ecosystem: the largest nectar holders, active community volunteers, and existing Ethfinex personnel. The members of efxDAO can submit and vote for proposals on how the allocated Ethfinex funds should be spent, earning reputation in the process and boosting subsequent voting power.

Whilst the initial cohort is members only, anyone can submit a proposal to efxDAO, and if accepted, earn reputation and a place in the DAO.

efxDAO is an ideal, real-world, testing ground for bigger plans in our decentralised journey, and we’re excited to watch it unfold. Head to efxDAO to be a part of our experiment and evolution in the near future.


Trading is now live on Ethfinex — get started here.

Sign up to our weekly newsletter and stop by our Telegram to learn more about the vision for Ethfinex.

Visit our Twitter to stay up to date with announcements, token additions and more.

Latest Posts

Next steps for our Token: the future of DVF

It’s been an exciting month since we shared our vision for the future of rhino.fi and our token, DVF. Your responses have helped us shape and refine the initial proposal to be stronger and focused on our community, and we are grateful for the participation.

Read Article

A Vision for DVF

Welcome present and future DVF token holders! This blog outlines the explosive journey rhino.fi has been on over the last 12 months, and a set of proposed plans for token holders to consider and eventually vote on going forward.

Read Article

Earn 19% APY on your stablecoins