On Thursday, DAOstack announced that Liquid would list its collective attention token GEN. Liquid is a cryptocurrency exchange by Quoine that launched recently. When the exchange launched, it listed a couple of virtual currency trading pairs. These cryptocurrency pairs include GEN-ETH, GEN-QASH, and GEN-BTC. Apart from that, it also announced that it will list GEN-Fiat pair trading in the near future.
How about DAOstack?
The developers of DAOstack built it to serve as a WordPress version of decentralized autonomous organizations (DAOs). On the other hand, DAO is a type web3-native organization which decentralizes the ability of like-minded communities to act on values and issues they feel strongly about. Similarly, the token will link a DAO network, developed for a number of purposes, on the DAOstack platform. By using GEN prediction network, DAOs can filter proposals using their predicted chances of being successful. Indeed, this enables DAO to remain valuable and efficient even as it scales to suit any size. DAO also empowers individuals inside and outside of the organization to contribute to critical issues and get rewards for correction predictions.
About GEN-based Predictions
Regarding GEN-based prediction, it is native to Alchemy, which is the DAOstack’s first application of decentralized governance. Alchemy’s alpha release is still on the Ethereum Mainnet. When it fully launches in 2019, Alchemy will enable DAO to effortlessly allocate voting power and system resources. As it stands, a community prediction is already ongoing. Also, it is increasing in size and expertise. On the other hand, the network effect will benefit from all DAOs that use Alchemy. From the working model of the GEN-based predictions, predictors must have the token to go on a proposal staking. As a result, they have an additional incentive to support GEN-enabled DAOs to meet their objectives. In short, DAOstack has adopted the strategy that made Ethereum successful.
Quoine is a highly rated fintech company that provides exchange, trading and blockchain-based financial services. Although it operates from strategic locations in Japan, Vietnam, and Singapore, Quoine was first incorporated and licensed in Japan. Indeed, Japan Financial Services Agency licensed it in September 2017. Quoine leverages the combined network of local partners and a wealth of experience in banking, along with the financial services sector, to deliver excellent services to its customers. One year after its successful incorporation, the two exchanges that Quoine birthed merged to become Liquid. Therefore, Quoine’s World Book will power Liquid. Quoine’s World Book provides customers with improved price matching and deeper liquidity for fiat-crypto pairs.
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