Numio working with PhoenixDAO — integrations in progress

Numio working with PhoenixDAO — integrations in progress

By Numio | Numio | 12 Jun 2020


As PhoenixDAO announced previously, we have reached an agreement with the community led project which will see some exciting integrations. In this post we will go into a bit of detail about what those integrations are and how we will work together to promote the decentralisation of PhoenixDAO.

Who is PhoenixDAO?

PhoenixDAO is a decentralised project who have a range of interlinked open-source protocols, covering authentication, identity, payments, storage, and tokenisation. They also have a dApp Store, which features an amazing events marketplace dApp, and have many other dApps in the pipeline*. The whole ecosystem runs on the PHNX token.

*we hope we see an open-source tokenisation dApp -that would be a great addition to the ecosystem.

The project is currently run by the Phoenix DAO Foundation who are doing the groundworks to get the fully fledged DAO launched. The DAO model means the community will be in full control of the project rather than a single controlling entity.

Their aim is to have the DAO up and running this summer with all tokens in the community within the next 12–24 months.

How did we come to work together?

The Numio team were contacted by the PhoenixDAO team to ask if we would support a community led, decentralised project that gave power to the many and not the few. As big fans of decentralisation and community projects this grabbed our interest, so we got chatting about how we could work together and found we had a good fit.

What does the agreement cover?

The agreement between Numio and PhoenixDAO is in three parts.

We will be adding the PHNX token to our apps, Pay & Vault, both as a means of payment and as a utility. The payment option is self explanatory and the utility option works as follows.

Pay

  • Users that make Peer to Peer (P2P) payments or in-store Point Of Sale (PoS) transactions using PHNX will pay reduced fees.

Vault

  • Users making trades on Vault will pay reduced fees when using PHNX
  • Users will get VaultPRO subscription discounts for paying in PHNX
  • PHNX staking will be available

DAO Integration

PhoenixDAO is integrating Numio Pay and Numio Vault open APIs into the DAO software structure in the following way:

  • Numio Pay blockchain based 2FA will be used to access DAO software and in DAO voting identity verification.
  • PhoenixDAO has been granted a license to white label Numio Vault to secure the DAO funds and DAO rewards using Numio’s multi-signature technology.

Consulting

The PhoenixDAO foundation team are able to call on the extensive experience and knowledge of the Numio team as they build out their extensive ecosystem. Our history as working as a decentralised team, as well as our development experience will be an invaluable tool in the growth of the PhoenixDAO.

Our Aims

Numio aims to help PhoenixDAO become the most productive and transparent open-source crypto project in 2020 and beyond.

Contacts

Keep in touch with us via our website or one of our social media channels

You can find PhoenixDAO on their website or telegram channel.

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An Ethereum Layer 2 mobile app that allows you to purchase cryptocurrency with a credit or debit card, swap tokens, and take advantage of the instant & low fee transactions offered by zkRollups. Numio is non-custodial so only you have access to your crypto.

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