Tron blockchain has announced entering into a strategic partnership with the prominent DeFi-based project DAO Maker. The latest collaboration aims at making all DAO Maker services available on the TRX network. In addition to that, this would also enable Tron projects to interact with the DAO Maker’s multi-investment platform, called DAO Pad.
Tron’s Yet Another Incubator Project
With the latest news,TRON, led by founder CEO Justin Sun, has added another incubator project to its growing ecosystem. DAO Maker will now be able to tap into Tron’s growing community and ecosystem. It is important to note that DAO Maker seeks to expand its footprint beyond the Ethereum [ETH] blockchain and leverage Tron’s low transaction fees and high scaling potential.
Hence, the partnership will facilitate the DAO Maker ecosystem to utilize TRX network’s 100,000+ active daily users to its growing ecosystem.
On the other hand, DAO Maker will enable the development of teams on the TRX blockchain to raise funds through its Strong Holder Offering [SHO].
SHO has been DAO Maker’s one of the most popular products. and is essentially is a fundraising service for public rounds that uses chain analysis, proprietary user activity data sets, as well as evaluation criteria to identify which allocation applicants are well suited for an initiative or a project. These entities also direct the allotment of a project’s most unlocked tokens.
According to the blog, DAO Maker’s community members will also be able to engage in SHO projects that will roll out on the Tron network.
Following the development, Justin Sun, founder of Tron and CEO of BitTorrent was quoted saying,
“We are excited to be partnering with an industry leader like DAO Maker to bring cross-chain community incubation and fundraising to TRX. This partnership is part of TRX’s commitment to its community to expand the functionalities of the blockchain through world class strategic partnerships.”
Over the last several months, Both entities have been making strides in the field of decentralized finance. DAO has made a mark by positioning itself as a prominent launchpad within the DeFi space. Tron, on the other hand, has witnessed the integration and collaboration of several new projects after opening its doors for the decentralized finance community last year.