🟣FAQs

Is Figure DAO the only product released ?

While we believe that Figure DAO will be launched on the ETH mainnet in Q2 2023, we want to reserve sufficient room for development as we will have to code from scratch the entire smart contract codebase in the new layer 2 Arbitrum. Figure DAO should be launched on the Arbitrum mainnet and development on BSC/ETH and Arbitrum is to follow.

What is Figure DAO motivation?

At Figure DAO we are passionate about expanding the benefits of blockchain technology throughout the world. Blockchain’s applications for decentralized finance are changing value as we know it. But we have found that something is missing. Hundreds of blockchains, thousands of protocols, and millions of users still deserve robust and efficient DeFi infrastructure, especially for the rapidly growing BSC ecosystem. That's where we come in.

Who will benefit from the platform?

Of course, a protocol built on BSC/ETH/Arbitrum should only benefit those communities, right? Well, while it is true that the community will have the most to gain, other ecosystems will also be able to participate. For example, Ethereum holders cannot currently allocate their capital to new and exciting projects being built on other chains, specifically Arbitrum, but through a cross-chain bridge, they finally can.

As we previously mentioned, the size and idle liquidity of BSC will also see the ecosystem explode after the introduction of DeFi liquidity solutions.

That’s not the full extent of it, either. Because of a short-term constraint on the deployment on BSC, we will initially launch the FDAO token as an ERC-20 token in Ethereum. Additionally, with the launch of our Bridge, we will be able to funnel Ethereum's liquidity, benefitting users around the globe, and allowing Ethereum users to get exposure on Arbitrum projects in a seamless and trustless manner.

What is an ‘IDO’ and why is Figure DAO using ‘IDOs’?

An IDO is an acronym for Initial DEX Offering. It means that the sale of newly launched tokens is done via a decentralized mechanism which ensures transparency and equal access opportunities.

The IDO mechanism enables a myriad of benefits, such as previously mentioned transparency and equal access, but also programmability of the IDO conditions—such as maximum allocation per user, time period of the fundraising process, terms of IDO termination etc.

That is why Figure DAO is using the IDO mechanism to raise funds for cutting-edge projects. It ensures that both the users and the team performing the fundraising get the most benefits all the while using a much more efficient system.

Are you already incubating projects?

Yes! If you are a successful Project or early-stage blockchain startup with a focus on technology, we would love to hear from you. Please reach out to us via our contact form on Figure DAO website. Become a part of our community and follow us on social media!