SpiderDAO, the first hardware-enabled Decentralized Autonomous Organization (DAO) that bundles multi-layered hardware and software tools on top of the Polkadot Network, has been announced as the first project to list its token (SPDR) on the new Decentralized Exchange Polkastarter.
Also today, SpiderDAO is starting its token distribution program. From December 15, 8.33% of SPDRs will unlock weekly over 12 weeks. This follows an earlier strategic private sale of SPDRs, which was oversubscribed within 24 hours.
Unique SpiderDAO Distribution Program: Liquidity as Utility (LAU)
SPDR token holders can participate in the LAU concept (Liquidity as Utility) and benefit not only from the APY itself but also by getting free access to the SpiderVPN services. Moreover, 60% of the SPDR token supply will be given away to the community via distribution over 5 years.
SpiderDAO brings unparalleled online privacy through fully autonomous decentralized VPN as opposed to centralized solutions where user personal data can be easily tracked:
“We thought of an innovative hardware DAO concept, and we introduced a dual-governance model, which bundles together hardware and software tools with on-chain elements, providing a “whale-resistant” solution,” said Nathan Varty, Founder and CEO of SpiderDAO. “We solve the democratic voting problem that many DAOs face by allowing each user to vote only once, regardless of the number of tokens the user holds. The hardware component - the SpiderVPN router - ensures that only those can vote who are actually using our product and are therefore part of the SpiderDAO community.”
To maintain the highest security standards, SpiderDAO has hired CertiK, one of the most respectable audit companies in the blockchain industry, to audit all of its smart contracts.
Prior to launching SpiderDAO, the team has been working with SpiderConnect hardware routers since 2017. In under 3 years they were able to grow the business to over 6,400 users across 18+ countries.
SpiderDAO also plans to introduce bandwidth monetization mechanisms in developing countries where Internet access rates remain high and SpiderVPN could potentially become a viable alternative.
About SpiderDAO
Founded in 2020, SpiderDAO is the industry’s first hardware-enabled DAO that bundles multi-layered hardware and software tools on top of the Polkadot Network - a blockchain protocol with two goals: providing shared security among all connected parachains and allowing all connected chains to interoperate. SpiderDAO’s vision is to create a provable, open source, decentralized VPN, as well as add a multi-layer privacy solution where users are not only secured through the DAO, but their networks are secured with Spider dVPN and ad blocking. All user data is encrypted through dVPN to ensure that all network traffic is secured when leaving or entering the network. SpiderDAO’s native token SPDR is the first-ever to be listed on the Polkastarter exchange. For more information, visit www.spiderdao.io.
SpiderDAO on Telegram: https://t.me/SpiderDAO
Discord: https://discord.gg/freymYYspb
Press contact
Robert Penington
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