Idavoll DAO PriceIDVInactive

What is Idavoll DAO (IDV)?

Idavoll DAO (IDV) is a decentralized autonomous organization platform designed to support the creation, management, and monetization of decentralized communities across multiple blockchain networks. The project is particularly focused on providing infrastructure and services to users within the Idavoll Network and the broader ecosystem of Polkadot ParaChains. Idavoll Network operates as a cross-chain DAO protocol built on the Substrate development framework and is supported by the Web3 Foundation Grant Program. The platform enables the establishment of individual organizations through a modular approach, where each organization's stakeholders and their associated rights and privileges are clearly defined and managed. IDV is the native utility token of the Idavoll Network, deployed as an ERC20 token on the Ethereum platform. The token has a total supply and maximum supply of 2,000,000,000 IDV. According to CoinMarketCap, the circulating supply stands at 924,278,318 IDV, representing approximately 46.21% of the total supply, while other sources report circulating figures around 789.04 million IDV. The project launched in 2020, with CoinDesk listing the Idavoll DAO v1 launch date as December 19, 2020.

Key Specifications & Tokenomics

• Name: Idavoll DAO (Idavoll Network)
• Ticker / Symbol: IDV
• Blockchain / Platform: Ethereum (ERC20); also described as built on the Polkadot ecosystem using Substrate
• Token Standard: ERC20
• Contract Address: 0x45448e05020576929fcdeabc228e35b420098840
• Idavoll DAO v1 Contract Address (IDVV1): 0x92ec47df1aa167806dfa4916d9cfb99da6953b8f
• Decimal Places (IDVV1): 18
• Total Supply: 2,000,000,000 IDV
• Max Supply: 2,000,000,000 IDV
• Circulating Supply: 924,278,318 IDV (46.21% of total per CoinMarketCap); 789.04M IDV per Crypto.com
• Project Category: Web3, DApp, Polkadot Ecosystem, Governance
• Launch Date: 2020 (IDVV1 launch: Dec. 19, 2020)
• Official Website: https://www.idavoll.network
• Whitepaper: https://files.idavoll.network/pdf/Idavoll-Network-Whitepaper.pdf
• Block Explorer: https://etherscan.io/token/0x45448e05020576929fcdeabc228e35b420098840
• Twitter/X: https://x.com/idavollDAO

Who created Idavoll DAO?

Detailed public information about the founding team and individual creators of Idavoll DAO is currently limited. What is known is that the project is supported by the Web3 Foundation Grant Program, which provides funding and backing to promising projects within the Polkadot ecosystem. In February 2021, Idavoll DAO completed a strategic funding round, raising $1,000,000 with Oasis Capital serving as the lead investor. The project has been listed across multiple data platforms including CoinMarketCap, CoinDesk, Forbes Crypto Market Data, Yahoo Finance, and Crypto.com, reflecting a degree of recognition within the broader cryptocurrency market information landscape. The project maintains an active presence on social media through its official Twitter/X account @idavollDAO, where it publishes monthly newsletters and project updates.

How does Idavoll DAO work?

Idavoll DAO operates as a modular governance platform where each individual organization within the network exists as a set of modules that define the organization's stakeholders and their associated rights and privileges. The platform facilitates the creation and management of various types of DAOs within the Polkadot ecosystem, using the IDV token for governance and operational purposes. A central feature of the network is its plan to implement the Idavoll Court, a mechanism aimed at resolving subjective disputes with binary outcomes. This court is to be developed and maintained by Idavoll Network token holders and represents a novel on-chain solution for governance and dispute resolution within decentralized organizations. The platform's cross-chain functionality is designed to facilitate a seamless and interoperable environment for decentralized communities across different blockchain networks, not just within its native ecosystem. Security is addressed through a non-linear voting and revision system designed to mitigate the risk of sybil attacks, preventing individuals or entities from exerting undue influence over the DAO by creating multiple accounts or otherwise manipulating the voting process.

What makes Idavoll DAO unique and valuable?

Idavoll DAO distinguishes itself through several key characteristics. Its cross-chain DAO protocol, built on the Substrate development framework, positions it to serve users across multiple blockchain networks rather than being confined to a single ecosystem. The modular approach to organization structure allows for flexible and customizable governance arrangements, where stakeholders and their rights are clearly defined through configurable modules. The planned Idavoll Court represents an innovative approach to on-chain dispute resolution, offering organizations a mechanism to resolve subjective disputes with binary outcomes. The platform's focus on the Polkadot ecosystem and its ParaChains aligns it with one of the major interoperability-focused networks in the blockchain space. Additionally, the project's non-linear voting and revision system addresses a critical security concern in DAO governance by mitigating sybil attack risks. The support from the Web3 Foundation Grant Program provides external validation of the project's technical approach and potential contribution to the Polkadot ecosystem.

What is Idavoll DAO used for?

IDV serves as the native utility token of the Idavoll Network and is used primarily for governance and operational purposes within the ecosystem. Holders of IDV tokens can participate in governance decisions, including proposing and voting on network upgrades, policy changes, and other organizational adjustments. This governance mechanism enhances democratic engagement among participants, allowing token holders to actively contribute to decision-making processes. The token is also used for staking mechanisms, where users can stake their tokens to participate in the network's security and operations, earning rewards for their contributions. Furthermore, the Idavoll Court, once implemented, will be developed and maintained by Idavoll Network token holders, giving IDV holders a direct role in the dispute resolution infrastructure of the platform. The token thus functions as both a governance instrument and an operational tool within the Idavoll ecosystem.

How Is the Idavoll DAO ecosystem developing?

The Idavoll DAO ecosystem is centered on the Polkadot network and its ParaChains, with the platform providing infrastructure and services to users within this ecosystem and beyond. The project facilitates the creation and management of various types of DAOs, offering organizational and operational infrastructure for decentralized communities. Development efforts include the planned implementation of the Idavoll Court, which will provide on-chain dispute resolution capabilities. The platform's cross-chain functionality aims to create an interoperable environment for decentralized communities across different blockchain networks. Idavoll DAO is supported by the Web3 Foundation Grant Program, which provides resources for continued development within the Polkadot ecosystem. The project maintains community engagement through its Twitter/X account, where it publishes monthly newsletters and updates. IDV is listed on multiple price tracking and data platforms, and the token may be available for swapping via decentralized exchange products on certain platforms.

How to mine Idavoll DAO?

IDV is not a mineable cryptocurrency in the traditional proof-of-work sense. As an ERC20 token on the Ethereum platform, IDV is issued and distributed through the project's tokenomics structure rather than through mining. Instead of mining, IDV holders can participate in staking mechanisms, where users stake their tokens to participate in the network's security and operations, earning rewards for their contributions. The staking process allows token holders to actively engage with the network while potentially earning returns on their holdings. The specific staking requirements, reward rates, and mechanisms are determined by the Idavoll Network's governance processes, in which IDV holders participate. Those interested in acquiring IDV can do so through various cryptocurrency platforms where the token is listed or available for swapping.

How to keep your Idavoll DAO Coin safe?

Keeping IDV tokens safe requires adherence to established cryptocurrency security practices. Since IDV is an ERC20 token on the Ethereum network, it can be stored in compatible wallets that support Ethereum-based assets. Users should consider using hardware wallets for long-term storage, as these devices keep private keys offline and protected from online threats. For active trading or participation in governance, reputable software wallets with strong security features may be appropriate. It is essential to safeguard private keys and seed phrases, never sharing them with anyone. Users should be cautious of phishing attempts, fake websites, and fraudulent schemes that target cryptocurrency holders. When interacting with decentralized applications or smart contracts, verifying contract addresses, including the official IDV contract address 0x45448e05020576929fcdeabc228e35b420098840, helps ensure interactions are with legitimate contracts. Regular software updates and using official sources for downloading wallet applications further enhance security. As with any cryptocurrency investment, conducting thorough research and understanding the inherent risks before committing to involvement in decentralized platforms like Idavoll DAO is strongly encouraged.