AirDAO is a decentralized community-driven layer one blockchain dApp that offers an easy-to-use, fast, and secure ecosystem with low transaction costs. It represents a decentralized DAO (decentralized autonomous organization) and brings Web3 benefits to a global audience with an array of powerful, decentralized products in an all-in-one, intuitive interface, making DeFi more accessible for all. The platform is powered by AMB tokens that can be purchased on centralized exchanges like Binance, Kucoin, ProBit, WhiteBit, and more.
How to get started with AirDAO?
It is extremely easy to start exploring AirDAO’s ecosystem. To get some DeFi action on AirDAO, here are some simple steps:-
Get Funds – Users will require a digital wallet and purchase tokens through a decentralized network like BNB Chain. Get $AMB to pay for gas and bridge fees. Bridge funds directly to AMB-NET – https://airdao.io/bridge/.
Swapping or Staking – No matter which method users use to get their $AMB, they must fine-tune the proportion of $AMB and $USDC to match the LP requirements on FireSpotSwap Pool. Alternatively, users can stake $AMB on the platform’s Staking page and earn more $AMB.
Pool – To use the Pool tab, users must connect their wallet to AirDAO and add liquidity by selecting their currency pairs. Input the liquidity amount and approve USDC. Enter Supply and click on Pool to review Stake Pool and the position. Add FLT tokens to the wallet to finalize and click Manage to review the position.
Farm – To use the Farm tap, go to the Farm page, click Manage, and input the LP token amount that needs to be staked. Click Stake and go back to the Farm page to review the position on the Farm dashboard.
Profit – That’s all!
AirDAO launched FirepotSwap on September 15, 2022, developed by Firepot Finance. It is the first decentralized application (dApp) and decentralized exchange (DEX) on AirDAO. It was designed to provide a user-friendly experience and abstract away technical details to leave the financial incentives and tools for the users. FirepotSwap is built on AirDAO’s layer one blockchain and uses trusted contracts.
AirDAO staking has introduced a spectacular service for all users who do not have a large amount of $AMB tokens needed to run nodes but would still want to earn some passive reward. Staking works on Apollo nodes, allowing users to stake their AMB tokens in the Hera pool. The Apollo node launches only when the required AMB tokens in the pool have been reached. The Apollo node launches after collecting the necessary tokens, and the next Pool begins. AMB Staking helps maintain the network’s security, and the users who participate in AirDAO staking get to earn rewards for their contribution.
AirDAO bridge allows users to transfer cryptocurrency tokens between BNB Smart Chain (BSC), Ethereum Network, and AirDAO’s AMB-NET Blockchain network. With the Bridge, users can transfer their digital assets across networks and access dApps built on BNB and ETH networks.
The Network Explorer was recently launched on AirDAO that is easily navigable with a simple user interface. Users can view the balances of native tokens and check the details on contracts, transactions, blogs, nodes, market cap, and more.
Benefits of AirDAO over others
There are several benefits of using AirDAO over other layer-one blockchains. The platform’s native blockchain AMB-NET is quick and safe to use with the lowest transaction costs. It is highly decentralized, with more than 150 validators operated by individuals worldwide. So far, the network has not experienced any hacks or security breaches, maintaining 100% uptime ever since its launch in 2019.
Moreover, AirDAO is highly engaged with its token holders and user community, hosting Town Hall meetings every week, providing updates, and answering live questions raised by community members. Furthermore, AirDAO is working with and onboarding different teams to create a user-friendly and comprehensive ecosystem of applications, making DeFi utilities easily accessible for all.
AirDAO’s native token, AMB, powers the blockchain. AMB’s first role within the ecosystem is as a native token of the network, serving as a medium of exchange and is used for the gas required to execute all on-chain transactions. AMB’s second role is to ensure a DAO’s operation through its staking. Thirdly, it serves as a governance token where users can lock their AMB to get voting power in VOTE. These VOTE tokens are used to vote on DAO proposals.
Why did AirDAO transition to DAO governance?
AirDAO promotes decentralization, transparency, and inclusivity. It empowers all community members and encourages active participation. However, one of the goals of AirDAO has always been to distribute the decision-making power to its community members. For this, the AirDAO transitioned to DAO governance to share decision-making authority among its community members.
How does AirDAO’s community-led governance work?
AirDAO is governed by the nine members of the AirDAO Council, each of which is elected from and by the community. AirDAO Council members get a 1-year term and can stand again for election or get voted out from future elections.
What are the benefits of AirDAO’s governance?
One of the significant benefits of AirDAO’s governance is that it increases trust and transparency by electing Council members who carry the community’s authority and work on their behalf. These members make important and quick decisions that cut short, long processes that other DAOs need to perform to get things done.
AirDAO’s wallet tracking mobile app
AirDAO launched a mobile app that works perfectly well on Android and iOS operating systems. The AirDAO community provided feedback throughout development to ensure the app met their requirements. With AirDAO’s wallet tracking mobile app, users can track their AMB tokens and markets with customized notifications, showing AMB price movements. The app can create address watchlists and organize and monitor the AMB portfolios.
To wrap up, AirDAO is a community-driven layer one decentralized blockchain providing a fast and secure ecosystem with various products like FirepotSwap, Staking, Bridge, and Network Explorer. There are also other benefits of using AirDAO over other alternatives in the market, such as an ecosystem of user-friendly and innovative dApps and DEXs accessible from a single dashboard.