DAO tool XDAO completes $2.3 million seed round financing

ChainCatcher news, according to The Block, DAO tool XDAO has completed a $2.3 million seed round financing at a valuation of $50 million, with participation from Panony, DWF Labs, Telos Foundation, Grizzly Capital, and others.

XDAO CEO Vlad Shavlidze stated that the funding was completed through a token sale, with financing terms including a 12-month lock-up period and a 36-month linear vesting period, as well as token economics tailored for the crypto bear market. (The Block)