Founded in 2020, SpiderDAO is the world’s first hardware-governed DAO (Decentralized Autonomous Organization). It aims to bundle together hardware and software tools to create a better version of the current DAO model by making it whale-resistant and more democratic.
To achieve this, the network implements securely encrypted algorithms that ensure transparency and stakeholders get to vote on how the company’s resources should be shared. This is especially important in decentralized finance (DeFi), where central financial intermediaries such as brokerages, exchanges, or banks are replaced by smart contracts on blockchains. DeFi platforms allow users to lend or borrow funds from others, speculate on price movements on a range of assets using derivatives, trade cryptocurrencies, insure against risks, and earn interest in a savings-like account.
On December 15, the company went live with its SPDR token. The digital asset is deployed on the PolkaDot blockchain which allows new designs of blockchains to communicate and pool their security while still allowing them to have entirely arbitrary state-transition functions.
Coupled with a hardware component, the SpiderVPN router, the system ensures that each stakeholder only gets one vote, therefore decentralizing the decision-making powers. This structure also encourages token holders to take part in LAU (Liquidity as Utility) where they can earn by contributing liquidity or bandwidth to a decentralized VPN network (dVPN).
As opposed to centralized solutions where user’s personal data can be tracked, dVPN provides unparalleled online privacy. This is achieved by employing special routers called SpiderConnect routers. These routers protect users from spam, virus, keyloggers, pharming, worms, trojan, adware, phishing, and spyware. Apart from these safeguards, SpiderConnect routers offer other cybersecurity features such as network monitoring, IP filtering, kill switch control, and band steering, among others.
SpiderDAO, SPDR Token, and the SpiderConnect Router are part of the SpiderDAO Ecosystem.
The crew steering SpiderDAO has forged partnerships with other tech entrepreneurs who share its vision, wasting no time in building cross-platform solutions.
SpiderDAO and Bondly
SpiderDAO and Bondly have also announced a collaboration that will revolutionize peer-to-peer swaps and digital marketplaces. Building trust in people about safe and stable e-commerce is a must in these volatile times. This means the elimination of intermediaries through decentralized operational networks where cryptocurrencies can see exponential growth without compromising on security and privacy. The partnership aims to lead the proliferation of crypto and DeFi by taking the security system to a new level and upgrading security protocols.
SpiderDAO will also be working closely with Bondly on multiple aspects of decentralized governance. Bondly is an interoperable, transparent, and portable swap protocol designed to revolutionize traditional escrow methods. Their DeFi products, such as BondSwap and BondProtect, generate trust within digital marketplaces and facilitate growth in e-commerce on the blockchain.
SpiderDAO and Kylin Network
Another important partnership to look forward to is SpiderDAO and Kylin Network. This will supply standard oracle solutions to SpiderDAO besides providing reliable, secure, and cost-effective data analytics that will monitor SpiderDAO sales and affiliation performance. Kylin network is a cross-chain platform powering the data economy on PolkaDot.
SpiderDAO and Fire Protocol
One of the first SpiderDAO’s first collaborations was with Fire Protocol, a decentralized protocol exchange benefiting from high scalability and multi-asset exposure. Fire Protocol also offers liquidity mining, enabling users to liquidate assets while shuffling between them freely. Both companies plan to make any and every asset tradable with Fire Protocol’s cross-chain wrapping hub.
While SpiderDAO will uphold the precedents required for utmost privacy for its end users and for Fire Protocol DEX, the latter will create the demand for the SPDR token by listing it in its domain.
SpiderDAO and ezDeFi
Another milestone in SpiderDAO’s team efforts is their collaboration with ezDeFi. ezDeFi is a multi-chain non-custodial wallet, a multi-functional browser and a payment gateway, all in one that enables users to make crypto savings, payments, transfers, and enjoy DeFi farming at ease. The announcement of integrating its procedures with SPDR came as good news for users of ezDeFi who can now spend and store their crypto online, process transactions for online merchants with utmost privacy and security, thanks to SpiderDAO’s fair, robust and self-sustaining ecosystem.
Through ezDeFi, SPDR token holders can now get their hands on thousands of online merchants and e-commerce portals while maintaining the decentralization SpiderDAO promises. ezDeFi app and its browser extension, which take few steps to install and activate, enable SPDR’s users to directly take part in LAU. “Their (ezDeFi) experience in app knowledge and use in online gateways will really help in this space to add genuine value to the SpiderDAO ecosystem especially with our Liquidity as Utility concept implemented through the exDeFi wallet,” said SpiderDAO CEO Nathan Varty.
SpiderDAO and Sentinel
SpiderVPN has also joined forces with a decentralized VPN provider, Sentinel. This is to further the expansion of its idea of decentralization, where through a dVPN network people can earn money by lending their extra bandwidth.
SpiderDAO has had a busy start to 2021. Apart from signing up on multiple collaborations, the team has started the distribution of their initial batch of SpiderConnect Routers and the launch of LAU, among others.