At Kaddex we are dedicated to promoting innovation and maintaining a leading role for Defi on Kadena. In keeping with this vision, we recently initiated the comprehensive restructuring initiative planned from the project’s very inception to streamline our structural set-up and improve operational effectiveness. Through this process, we established an efficient organisational system that enables us to represent and benefit KDX holders optimally.
We are excited to announce the long-awaited transition project to a DAO, a system primed to empower the community in its executive decision-making. This strategy is in line with our dedication to transparency and decentralisation, and we think it will help us create a more resilient, long-lasting ecosystem that is better prepared to handle the maintenance and future growth of the DEX, non-custodial wallet and DAO.
Kaddex’s main goal has always been to ultimately transition into a DAO structure. As our company continues to evolve and adapt to the ever-changing business landscape of crypto, we aim to take action in increasing our organisation’s productivity, transparency, and community involvement in decision-making.
Within a wide variety of industries, there has been a growing trend toward decentralisation in recent years. Increasing numbers of businesses and organisations are turning to decentralised solutions as an alternative to conventional centralised models with the arrival of blockchain technology and smart contracts. DAOs, which offer a new way for organisations to run and govern themselves through a decentralised voting mechanism, are a leading example of this trend.
Kadena is the first enterprise-grade public blockchain that can handle the demands of high-throughput and complex smart contracts. This platform will provide the necessary infrastructure for our DAO, ensuring that our operations are secure, transparent, and efficient.
We recognise the importance of staying ahead of the curve and continuously improving our organisation. By transitioning to a DAO, we believe that we can tap into the benefits of decentralisation and offer a foundation for mass adoption in which we can onboard users/institutional clients from traditional finance backgrounds.
Description of changes
KaddexDAO is a non-profit organisation based in Switzerland that promotes transparency and decentralisation. Being such a non-profit organisation, it places a greater emphasis on attaining desired goals and objectives that are consistent with its mission. Through research, instruction, and community involvement, KaddexDAO aims to innovate blockchain tech on Kadena and its capacity to revolutionise gasless Defi.
KaddexDAO is a DAO that was created as a result of a demerger between the traditional Kaddex team. The demerger resulted in the split of Kaddex into two separate entities:
KaddexDAO and Kaddex US Holdings (KUSH)
KaddexDAO maintains all the rights to the protocol code and treasury funds of the previous Kaddex team. This means that the DAO has full control over the protocol and can make decisions about its development and maintenance. Additionally, the treasury funds, which are the assets and funds of the previous Kaddex team, are also under the control of the DAO. This allows the DAO to manage its own finances and resources in a decentralised and autonomous manner.
On the other hand, KUSH is a standalone entity contracted for 6 months until May 2023 by the board of KaddexDAO to execute a section of the organisation’s roadmap. This means that KUSH will be responsible, until necessary, for certain aspects of the development and maintenance of the protocol, as determined by the KaddexDAO.
In addition to Kaddex US Holdings, KUSH — led by former Kaddex CEO Nicolas Ramsrud — KaddexDAO also works with other contractors to execute its roadmap and continue the development of the protocol. These contractors include Architech, Kadefi and a number of individual operational support roles.
Furthermore, KaddexDAO utilises external legal advisors, CFDB, for matters of guidance and support to executive decisions and regulatory compliance. They are considered to be one of the leading firms in the industry, known for its expertise in navigating complex legal issues and staying current with the latest developments in regulations. They work closely with the DAO to help us build effective frameworks and processes, to safeguard legal compliance and minimise risk to KDX token holders. Overall, their services ensure we are compliant and protect the ecosystem’s interests in the constantly changing legal landscape.
The DAO board is the governing body of KaddexDAO and is responsible for making decisions related to the development, maintenance, and overall direction of the organisation. The board members are responsible for representing the community’s interests and making decisions that align with the overall mission of the DAO. We work closely with the contractors and the development team to ensure that the protocol is being developed and maintained to the highest standards.
As the Chairman of KaddexDAO, I bring a unique blend of technical expertise and financial acumen to the organization. With a Bachelor’s Degree in Mechanical Engineering and a Master’s Degree in Computational Finance, I have a well-rounded understanding of both the technical and financial aspects of our work. I have been with Kaddex for one year and have been serving as Chairman for the past five months.
I am dedicated to driving innovation and pushing the boundaries of what is possible with decentralised technology. In my free time, I enjoy staying active, exploring the great outdoors, and continuing playing sports. I am excited to keep building on the success of KaddexDAO and to see where the future takes us.
As the Secretary of KaddexDAO, I am dedicated to bringing my expertise in traditional finance and passion for crypto to our team. With a master’s degree in finance and a bachelor’s degree in finance and business economics, I have been studying and trading crypto since 2017.
My prior experience in wholesale credit and lending, as well as mergers and acquisitions, has equipped me to navigate the challenges of the crypto bear market and lead our team toward a long-term runway and continued innovation. I also hope to bridge my traditional finance network to Kadena.
Since joining the board of directors in September, I have been working closely with the team to reformat our operations and cash flows to ensure we remain at the forefront of the crypto world. In my free time, I enjoy staying active and healthy by going to the gym and staying up to date with the latest developments in the world of finance and crypto. As the industry continues to evolve, I am excited to continue learning and growing with it. I am also excited to be working hands-on and becoming a pioneer of technology within the space and look forward to working with the emerging markets of the crypto world.
As the Secretary of the KaddexDAO Association, I am a highly organized and detail-oriented individual with a passion for innovation in the field of cryptocurrency. With my background in project management and experience delivering software products to users, I am skilled at coordinating cross-functional teams and managing tasks to ensure that projects are completed on time and within budget.
Born and raised in Spain and the Caribbean, I am a confident and adaptable individual who is comfortable working in a variety of environments and cultures. I am currently living in Connecticut, working remotely to support the association’s mission and goals.
Overall, I am a dedicated professional who is committed to supporting the KaddexDAO Association in its mission to advance the adoption and innovation of DeFi. I am excited to be a part of this dynamic and rapidly growing field and look forward to contributing my skills and expertise to the success of the association.
In conclusion, KaddexDAO is eager to start this new challenge toward decentralisation and transparency as we complete the transition to a DAO framework. This action is consistent with our goal of fostering Defi innovation in Kadena. We think we can build a more robust and long-lasting ecosystem for Kaddex, X-Wallet, and the DAO by including the community in decision-making and in the efficacy of the organisational structure. We are dedicated to making constant advancements and staying one step ahead of the competition. We think that this transformation will be a crucial step toward the widespread adoption and onboarding of users and institutional clients with backgrounds in traditional finance. Overall, we envision long-term ecosystem development and community empowerment.
As part of our commitment to transparency and community involvement, we are planning on increasing our engagement through frequent AMAs and opening up the protocols to more public intervention. The hard work of the DAO board in restructuring and moving towards a fully decentralised model is an important step to make sure that the community’s best interests are addressed.