xDAC DOCUMENTATION

Get Started #

An xDAC company is a Decentralized Autonomous Company created and operated on xDAC blockchain by one or multiple human or autonomous agent owners or a mixture of both.

xDAC blockchain is a register of decentralized companies stored on a public ledger. The focus of an xDAC platform is not just company creation and token distribution but establishing standards for decentralized businesses.

xDAC ecosystem using XDAC stable coin pegged to the U.S. dollar. XDAC coin as a platform currency will later represent value and wealth in the decentralized economy used for an exchange of values between xDAC companies, employees, customers, and other third-party entities.

xDAC company creation is simple and can be registered in minutes.

xDAC Infographic



Why xDAC

xDAC platform focuses on automation of company processes and governance. Each xDAC company has to follow the same rules which eliminates cross-jurisdictional challenges. The following comparison outlines a few differences to DAO or traditional company such as INC or LLC.

xDAC comparison

1. xDAC Companies Market Capitalization #

xDAC Companies Market Capitalization calculates the market cap of all registered companies on the xDAC network.

The xDAC homepage provides easy access to existing xDAC companies through the list in the form of tiles and the “search” option. The search option searches in the core database by company name, token symbol, or company account name. The homepage offers filtering companies by token sale status (Active or Completed) or by the company industry.

xDAC-homepage

2. xDAC Mainnet/Testnet #

The xDAC platform offers 2 independent blockchains, mainnet and testnet. The testnet blockchain is periodically reset and creates a testing environment for developers or company owners who can try all features before they deploy the company to the mainnet.
Personal accounts created on testnet are automatically credited with 250 XDAC to test platform features.

xDAC mainnet testnet

3. xDAC Wallet #

To manage XDAC coins or xDAC companies, the platform offers a personal wallet that directly interacts with the xDAC blockchain. Personal wallet can be set on any device, and it is running locally without sending private keys over the internet.

xDAC wallet new

3.1 Setup Wallet #

xDAC wallet setup After choosing a password, the wallet is set on your device and offers two options:
3.2 Create New Personal Account – Create a new account on the xDAC blockchain,
3.3 Add existing account – Add existing xDAC account by using a private key.

Note: The wallet data are encrypted and stored inside your internet browser. Therefore, if you use multiple browsers, it is required to set a wallet on each of them. In some cases, browser data can be automatically reset, and you need to set up your wallet again.

3.2 Create New Personal Account #

Personal Account Name is mandatory and must contain 12 characters [a-z12345] (eg. myaccount123).
An xDAC account is a readable name that is stored on the xDAC blockchain and is connected to your keys. This account is required to perform actions on the xDAC platform, such as sending/receiving coins or tokens, voting, staking, and interacting with xDAC companies.

The Generate Key Pair button will generate private and public keys that you have to store in a secure place. Without a private key, you will not be able to access the created account in the future.
Private and public keys are generated on your computer.

xDAC wallet create account

After submitting the form, a new account appears inside of the wallet with starting balance 250 XDAC (only on the testnet).

xDAC wallet balance

3.3 Add Existing Account #

To add an existing wallet, you can navigate to New Account link in the wallet footer menu or Add Existing Account right after setting up a new wallet.

xDAC wallet add

Insert a private key of the account you created in the past, and the account is added to the wallet.

xDAC wallet accounts

You can have an unlimited number of personal accounts and switch between them by using the Make Primary link. This option is useful in case you interact with multiple companies.

3.4 Send Money #

The xDAC wallet lets you send money to any other personal or company account. To access the send money form, click the arrow next to the account you wish to send money from.

xDAC wallet send button

Select your account, enter the account name of the recipient account and enter a note if required. Transfers on xDAC blockchain are free and instant.

xDAC wallet send

3.5 Lock/Forget Wallet #

The Lock Wallet option logs you out of your wallet, and the password is required to enter the wallet again.
You can use the Forget Wallet option if you want to delete all wallet data from the local device.

xDAC wallet lock

4. xDAC Company #

By registering a new company, you are creating a public record on the xDAC blockchain with your company details. After company registration, you or your partners will be able to participate in the company by purchasing equity tokens. Equity tokens represent ownership in the company, and owners are entitled to vote on company proposals, manage the company, or access company accounts.

4.1 Start xDAC Company #

To register a new company, the xDAC platform offers registration form, which consists of 2 sections – Company details and Create Equity Tokens. The first section requires to enter the following details:

Company Name:*
Company name is the name of your future xDAC company. It can be up to 60 characters long. xDAC companies can use an xDAC extension for better recognition in forms: Company name, “xDAC”, “Xdac” or “xdac”, but enter only company name to the form without “xDAC”.
*Can be changed later.

Company Account Name:*
A company account name is a human-readable account name that is stored on the blockchain. This account holds your company funds, company transactions, company information as well as liability fund. The account will be also used for receiving payment transactions for your product and services.
Company account must be 1 to 12 characters long consisting of the characters: [a-z12345]
Example: xdacexchange or consulting12

Account names shorter than 12 characters are subject to the following fees:
12 characters = Free, 11 characters = 10 XDAC, 10 characters = 50 XDAC, 9 characters = 100 XDAC, 8 characters = 150 XDAC, 7 characters = 200 XDAC, 6 characters = 250 XDAC, 5 characters = 300 XDAC, 4 characters = 350 XDAC, 3 characters = 400 XDAC, 2 characters = 450 XDAC, 1 character = 500 XDAC
*Cannot be changed later.

Company Website:*
Verification is the process of proving that this company is owner of company website. You can verify your ownership of a site by adding a tag to the HTML of your homepage or by downloading verification file and placing it to root folder of your website.
Example of meta tag:
<HTML>
<HEAD>
<TITLE>Your Title</TITLE>
<meta name="xdac-verification" content="Your_company_account_name">
</HEAD>
<BODY>

*Can be changed later.

Personal Account Name:*
Account name of the user who is registering the company. This is not a company owner.
*Cannot be changed later.

Industry Type:*
The primary industry focus of the company. This infromation is used to filter companies by type.
*Can be changed later.

xDAC new company form

4.2 Create Equity Tokens #

Equity tokens representing an ownership interest in the company. Equity tokens give the token-holder the right to vote on matters of company policy making, managing company assets, approving investments, profit distribution as well as who will compose the members of the board of executives.

Token Name:*
The token name is the name of your token that will be used by your community or exchanges, for example “Bitcoin”. The token name can be same as the token symbol.
*Cannot be changed later.

Token Symbol:*
The symbol of the token contract is the symbol by which the token contract should be known, for example “STAR”. It is broadly equivalent to a stock ticker, and although it has no restriction on its size it is usually 3 or 4 characters in length.
*Cannot be changed later.

Total Supply:*
Total supply represents a maximum number of tokens that can be issued by the company at company creation or the company later stage.
*Cannot be changed later.

Initial Supply:*
Initial supply represents 100 percent of the ownership of the company at the company registration. You can issue a certain number of tokens and leave some tokens unissued for later sale. When unissued tokens later sell, this dilutes all existing token-holders. If the initial supply equals total supply, total supply is 100 percent of the company and you will not be able to raise more capital in the later rounds.
*Can be changed later.

Token Price:*
Token price also referred to as nominal value or par value, is the price of issued tokens in XDAC coins.
*Cannot be changed later.

Lock-up Period:*
A lock-up period, also known as a lock in, lock out, or locked up period, is a predetermined amount of days from the beginning of a token sale when token holders receive their equity tokens. Minimum is 0 days and the maximum is 9,999 days.
*Cannot be changed later.

Initial Capital:
The initial capital is an investment required to start your business. Minimal initial capital is 100 XDAC. You can purchase any amount of equity tokens. However, token holder(s) with more than 50% of tokens own the company. After the company is deployed, the initial investment minus 10% reserve on liability fund will be available to founders for transfer or company expenses.
If you plan to list your token on xBase exchange for free, your initial capital should be 100,000 XDAC or more.

Note: Why do you need to purchase company tokens?
To protect the xDAC ecosystem and XDAC currency from issuing tokens without intrinsic value (also known as printing money out of thin air), each token needs to have nominal value and must be purchased. Equity tokens represent value of the company. XDAC currency is directly correlated with the valuation and economy of xDAC companies.


xDAC new company tokens

4.3 Buy Equity #

To register and deploy the company you need to purchase equity in the company. After registering a company, remaining equity tokens will be available to the public. Funds from the token sale will be available to the company executives after the token sale.

Buy Equity Options:
1. Purchased less than 50% – you need at least 1 more partner to control the company,
2. Purchased more than 50% – you control the company,
3. Purchased 100% – you own the company.


xDAC new company buy

4.4 Dashboard #

Each xDAC company has its own dashboard, which is also a public profile. It is available at
Mainnet: https://xdac.co/c/<company_account>
Testnet: https://test.xdac.net/c/<company_account>

The dashboard holds details about company status, health, valuation, and company profile.

Company Status

The company status container contains the following information:
Token sale – informs whether company token sale is completed or active.
Change (7D) – is the token price change of a company for the last 7 days.
Owners – is a number of active company owners.

Company Health

The company health shows:
Company rating – is an automated rating that shows how effective a company is in terms of delivering on its plans. (Currently not available)
Liability fund – is liability coverage in case of the xDAC’s debts or liabilities. It is created as a percentage from received payments that are stored on a separate wallet inaccessible to the company until certain limits are reached.

xDAC company details

Edit Company Story

xDAC edit company details

5. xDAC Token Sale #

The token sale starts automatically after successful company registration if the company didn’t sell 100% of its equity. All remaining equity tokens are available to the public, and investors can purchase tokens by using their xDAC wallet.

xDAC token sale

5.1 Token Sale #

The company token sale lets anyone participate in the xDAC company by purchasing equity tokens.

A token sale is accessible to investors through the following links:
Mainnet: https://xdac.co/s/<company_account>
Testnet: https://test.xdac.net/s/<company_account>

Investors can find on this page information such as:

Company Name – Registered name of the xDAC company.

Company Website – If company domain was verified company URL is available.

Company Account – Account name registered for the company on the blockchain.

Registered On – The date and time of company registration and deployment to the blockchain.

Company Link – The company profile link.

Token Name – The name of company equity token.

Initial Supply – The number of equity tokens the company issued at creation.

Unsold Tokens – The number of equity tokens available to the public.

Token Lock-up Period – The number of days from registration date when tokens will be automatically distributed.

Company Owners
The company owners section contains a list of all approved and pending company token holders.

xDAC token company owners

As long as the investment is not approved by company token holders, the investor has the option to cancel the investment. The investment will be reversed to the xDAC wallet from which the investment was initiated.

xDAC token company owners cancel

5.2 Buy Equity #

Investors can purchase equity tokens through their xDAC wallets by clicking on the Buy Equity Tokens button.

If the company didn’t sell more than 50% of equity tokens yet, the company doesn’t have an owner or multiple owners controlling the company, and investors can purchase remaining tokens without approval.

xDAC token sale equal offer

If the company sold more than 50% of their equity tokens, each new token sale has to be submitted as an Offer to buy equity, and existing token holders have to approve each new offer. The offer amount can be overwritten and submitted to existing token holders for approval.

xDAC token sale other offer

If company owners accept a lower price for remaining tokens, that decrease the valuation of the company. If the offer for remaining tokens is higher, company valuation increases, and it is more likely such an offer will be approved.

At this stage, existing company owners are responsible for running KYC on investors from jurisdictions which require KYC and AML verification.

After token purchase, company executives need to approve or decline the offer. If the offer is declined, invested funds are returned to the investor’s wallet. If approved, tokens are automatically transferred to the wallet of the investor.

xDAC token sale on wallet

The successful investment increased company valuation as remaining tokens were purchased for a higher price than nominal value. Purchase of tokens for a lower price would have the opposite affect.

xDAC company valuation increase

6. Company Voting #

Company tokens represent voting power in the company, and token holders can use this power to vote on company proposals. During voting, company tokens are staked (locked) to prevent double voting. Tokens are automatically released after the end of the voting term or after voting concluded, whichever is earlier.

Token holder voting rights give the power to:

– Elect company executives,
– Remove company executives,
– Increase token supply,
– Vote on general company proposal.

Company executive voting rights give the power to:

– Approve or decline company investment offers,
– Vote on general company proposal.

6.1 Company Executives #

As soon as the company sells more than 50% of its equity tokens, the voting option becomes available and token holders can elect their first executive.
Company executives are responsible for the control and management of the business and affairs, wallets, property, and interest of the company, and may exercise all powers of the company, except such as those reserved to the equity token holders.

The company executive must be an active company token holder to be elected. The executive should have a public profile link so other token holders can review the nominee’s background. The public profile can be set by following the “Edit Identity” option in the xDAC wallet of a respective nominee account.

xDAC company voting executive

After submitting a new voting proposal, voting is available for a specified period to all company token holders.

xDAC company voting executive list

Token holders can accept or reject listed proposals. The proposal is adopted after more than 50% of token holders accept or reject the proposal.

xDAC company voting executive vote

The result of each voting is available in voting history.

xDAC company voting executive result

7. Financial Tools #

The company finances, which are available only to company executives, let them manage company accounts, send and receive payments, or invoice company customers.

7.2 Invoicing #

Invoicing is part of financial tools and enables businesses to generate invoices for their customers payable in XDAC stable coin or other stable coins pegged to the U.S. dollar.

xDAC finances new invoice

The invoice form starts with the Invoice number, which is automatically generated and editable in case you wish to use a different format. The Invoice Date and Due Date are also editable.
The Bill To field offers to add or manage customers, so it is easy to select the same customers in your future invoices.

xDAC finances new customer

After creating a new invoice and saving, the invoice can be further edited, voided, or sent to the customer email address previously stored in the customer profile.

xDAC finances send invoice

Emailed invoice is sent to the customer mailbox, and the customer can pay your invoice by clicking the Pay Invoice button.

xDAC finances email invoice

The customer can choose to pay with XDAC coin. If the customer doesn’t have an xDAC account, he or she can pay by using other stable coins such as USD tether (USDT) or USD coin (USDC).
xDAC generates a unique wallet address for each invoice so payment can be sent from any wallet or exchange. The invoice can be paid in multiple payments and various currencies. Received payments will be auto-converted into XDAC stable coins and transferred to the company account with the same exchange rate.

xDAC finances pay invoice

As soon as payment clears, invoice status changes to paid, and both the company and customer receive payment receipt with transaction details.
XDAC coin transactions are free and instant. Transactions in other currencies are subject to a 1% transaction fee.