Who are we and what we do

It is time to show the world the power of a DAO. It is time for Web 3.0 to ship products outside Web 3.0

We are a crowd funded and owned community security and development team. The DeFi space is riddled with so many problems that it is impossible to state them all, but we can highlight the main ones.

This is a massive issue. Whether it’s a honey trap, or poor security on a contract with exploits, or a flat out scam, the DeFi space is absolutely full of horror stories. Let’s start by addressing the poor security issue first. These are the legitimate projects that want to launch, but they can’t afford the security audits. These are the teams that get woken up at 2am because someone has drained their contract. Where do they go, and what do they do? This is where we come in. Now they can come to us to analyse their project objectively and if their project is legitimate, and they are willing to disclose themselves to us, we will perform the audit free of charge.

Why would we do this? Well, we have a team of paid individuals funded by our community to serve the DeFi space. Say you hire a coder for a smart contract — how would you know that contract is safe? You wouldn’t. They could leave a vulnerability on purpose, or they may have just missed something. For this reason it is important
to hire a professional to audit it. In order to do that, you would have to fund-raise. This is where you get that
“first mover” advantage that generally leads to ill intent. We are firm believers in the adage “The best incentive
is no incentive”, so if we can make the contracts safe in the first place, then we are all able to avoid half of the potential issues from the start. We don’t need to make their identity public, but we will have it on file to inform law enforcement if anything unlawful happens.

This directly leads to the next problem:

There is no one actively working in the community to provide chain analysis and to work with exchanges and law enforcement to hopefully at best freeze and recover funds, but at worst at least provide closure with accountability. These systems are complex and time-consuming, but again with our crowd funded team, we can help maintain a safer space for all of us. We have to start to take some responsibility for the very thing we are working in. It’s easy to blame teams, but the truth is that most of the time they are trying their best but are constrained by a lack of ability or experience. We are able to work with teams to help them be more transparent.

There are so many little things a team can do that will make this possible, and we are going to lead by example. Our community will have access to all the Radxu Foundation financials, both on and off chain, which will be published quarterly. We will have quarterly reports on expenditure and will clearly inform on what money is coming back to the users from their fees. This I think is the biggest problem with transparency — we often see cases where teams sometimes run votes on where funds should be put, but they never show expenditure and what the team uses to perform the work at hand. We believe this is your money, so you deserve to see where it is being utilized.

All we can do as a community is discuss and bring ideas to the table that we can build and develop together, but we can also make a change to the world around us.

We need to show the world the power of a DAO, so we will use it wisely and sensibly. We will never have a launch party, or an unveiling, or an event just for the sake of it. What we will do is make a difference. The community will be selecting what we do with our philanthropic fund, and there will be competitions within our community to either join us in these endeavours or to go and represent the community. So whether we do work in our home countries or work in other countries, you will be given the chance to join the activity, and we will have channels dedicated to these causes. As we grow, the positive impact that we can achieve will grow, and that is the same in all our endeavours. We will all grow together from the ground up.

As well as helping protect our own space, we will also have the treasury to bring accountability to the node and cryptocurrency space. If our community chooses to proceed with litigation against fraud, you will for the first time be able to do it. Litigation is costly, and individual investors can’t fund it because firstly, they can’t find those responsible, and secondly if they could find those responsible they normally could not fund it. Now, we can. We need to bring some accountability to the space. I’m not talking about targeting failing projects with unhappy investors, I’m talking about clear scams where founders have disappeared with funds. UNIV would be a good example of this. We could do our best to track and trace and then serve subpoenas to exchanges for the purpose of bringing those accountable to justice.

Lastly, we can launch and ship products outside of web 3.0. We can compete with VC funding to release products that will never be monetized. We can actually make a difference together as a whole.

Furthermore, we can deliver this concept, but ultimately the decision is yours. All we want to do is bring together a massive community and build a product together with you.