The Dua Foundation has become the first project to be officially listed on Fundrs, a peer-to-peer funding platform launched by AllianceBlock. By virtue of the listing, the Dua utility token will power a new economic system that will cater for Dua.com’s 5M+ users as well as users of spotted.de, which is a partner project.
The listing of Dua token on Fundrs is good news to the entire DeFi community. In addition to opening up opportunities for millions of people who are limited by traditional finance, it also opens opportunities for businesses. This is because Fundrs was launched to serve as a participatory funding platform for individuals and businesses, based on reputation and merit.
What You Should Know About Fundrs
Fundrs was launched by AllianceBlock in August 2022 on both Avalanche and Ethereum mainnets. The project started as a vision in 2018, and by 2019, the journey began officially. The central idea was to create a decentralized participatory economy powered by a fully-decentralized peer-to-peer funding platform based on reputation and merit.
As it comes to life with the official listing of Dua tokens, Fundrs will provide a Launchpad for ventures to access capital and advice. It will allow both blockchain projects and traditional startups, which are called ‘seekers’ to receive funding from trusted users of the platform. In the future, it will also offer a range of DeFi services to users, including peer-to-peer lending, convertible loans and many more.
As a fully decentralized funding platform, all functionalities on Fundrs are enabled by smart contracts. Currently, it boasts a robust infrastructure, and it is safe to say that the best is yet to come.
Speaking about the project, Founder and CEO of AllianceBlock, Rachid Ajala, said:
“Fundrs is a revolutionary step in our vision towards a truly decentralized participatory economy. It is a culmination of our original vision in 2018 to provide unbiased access to a peer-to-peer funding platform based on reputation and merit. With dua as our first listing, we will be able to target globally fragmented communities, which is fully in line with our mission to bring access to the best companies in a fair, transparent and inclusive participatory economy.”
What the Dua Listing Means
As the Dua token lists on Fundrs, Dua AG, a Switzerland-based successful startup has onboard their 5M+ users to the participatory economy by tokenizing them through cryptocurrencies and decentralized technologies. The company took the giant step after raising USD 4M in series A round.
At this point, it is important to state that Dua AG is entering the participatory economy offered by Fundrs with its Dutch-based partner, Dua Foundation, which is a non-profit organization. The two related entities aim to introduce globally fragmented communities to the Dua token and the larger Web3 scene through their respective apps, dua.com (Dua AG) and spotted.de (Dua Foundation).
Speaking about the listing, Chief Payment Officer at Dua.com, Ardit Trikshiqi said:
“The launch of the DUA token is an innovation for the matchmaking industry. DUA will enable 5 million users of dua.com and spotted.de to engage in a participative virtual economy that offers a wide range of services and is growing exponentially every day and millions of individuals and businesses, part of globally fragmented communities that are not being supported by traditional financial providers such as banks or money transfer operators.”
With the emerging Dua-powered ecosystem, people searching for relationships will be connected based on such traits as values, religion, education, language, origin and more. Members of the Dua communities will also be able to access all forms of DeFi services freely from their apps. There will also be a reward system for in-app activities. The in-built wallet will serve as the gateway to on-chain payments, remittances and borrowing opportunities. The Dua-ID will also gather users’ online footprint in an ethical manner, enabling businesses and other participants to vet users before transacting with them.
Wrapping Up
Fundrs from AllianceBlock is an incredible funding platform that can become a game-changer in the DeFi scene. With the listing of Dua token to power the Dua ecosystem on the platform, a lot is expected to change in the TradFi and DeFi sectors. It is also expected that Dua will only be the first of many other innovative ventures that will redefine the participatory economy and help millions of users interact and transact safely in a Web3-enabled world.
