SpiderDAO Partners with PAID Network to Utilize Trustless SMART Agreements
SpiderDAO and PAID Network have recently joined forces to combine PAID’s SMART Agreements and Spider’s dual-governance DAO models. SpiderDAO will now be able to further strengthen all of its futures contracts through the use of SMART agreements. On the other hand, PAID Network entered into this partnership for the purposes of building its own governance model through Spider’s dual-governance DAO model.
Creating its own governance model will allow PAID to launch a DeFi-based DApp, which offers SMART agreements, and allows users to create custom policies and standardize contracts, ultimately assuring that they will get paid. PAID’s reputation scoring system will also allow users to enter into agreements with other reputable users by leveraging incentivised lending and PAID’s liquidity pools.
This collaboration could change the fundamentals of business practices and blockchain capabilities, since the DAO governance model will allow PAID to make their DApp’s SMART agreements trustless. In addition to the governance model, SpiderDAO is also marrying their decentralized VPN services with PAID’s SMART agreements in order to deliver more security and anonymity to transactions, contracts, and business operations.
“SpiderDAO’s technology allows for trustless DAO governance in the true ethos of the industry; and since PAID is all about trustless SMART agreements, SpiderDAO proves to be an essential building block in our ambitious goal of bringing PAID’s DApp to the market. I couldn’t be happier to have such a strong, essential, and solid partner in our corner,” said Kyle Chasse, CEO of PAID Network.
“We are thrilled to collaborate with PAID Network, offering them the ability to create fair governance in their ecosystem is a huge step to collaborate on the future of blockchain tech. The essential work they are carrying out on trustless SMART agreements will be a giant step in the evolution of the blockchain industry or business in general,” said SpiderDAO CEO Nathan Varty.
PAID Network seeks to redefine the current business contract, litigation, and settlement process by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID. Leveraging Plasm to operate on both Ethereum and Polkadot ecosystems, SMART Agreements built through smart contracts execute DeFi transactions and business agreements seamlessly, making business exponentially more efficient.
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 adblocking. 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.