FxDAO shares its April 2023 monthly update on building the first legally incorporated DAO on the Stellar Soroban network. They've developed a protocol compatible with Soroban preview 8, deployed webapps on Futurenet for vault management, and are progressing toward legal incorporation within 30-60 days. Future updates will cover ongoing protocol development and DAO setup.
FxDAO's journey began months ago with consultations from lawyers and advisors to create a decentralized, legally incorporated DAO on Soroban. They've developed the protocol to be compatible with the latest Soroban preview 8 and deployed initial versions on Futurenet: first on March 3rd for vault creation, then a redesigned webapp on March 23rd adding debt and collateral management. The latest update on April 10th introduced collateral redemption and vault liquidation features. Currently in the incorporation process under a recognized DAO entity, expected completion in 30-60 days. All activity is on Futurenet as a proof-of-concept, not mainnet. Future plans include continued protocol development, with updates shared on Twitter.
