About the ExtractoDAO
ExtractoDAO is a Decentralized Autonomous Organization of private property sometimes called a Decentralized Autonomous Corporation, with the objective of developing a shared purpose.
ExtractoDAO is a decentralized proposal of food production and commodities, striving to contribute to the cause of food security, fighting hunger, misery, malnutrition and at the same time generating fair revenue to all the participants in the ExtractoDAO.
The ExtractoDAO also proposes the decentralization of private property by the collective man.
The core thought at ExtractoDAO DeFi is the administration of these private properties by the collective in fractioned form, diminishing risks, with the benefit of the correct application of smart contracts. You will be able to have fractions of hundreds even thousands of assets throughout the world, in this way, you will be able to diminish the exposure to risk safely and transparently.
What is Drawer Technology in the world of cryptocurrencies?
Have you ever heard of the term "Drawer" in the cryptocurrency market? Drawers have the same meaning as the wooden drawers in a lawyer's cabinet where clients' documents and contracts are stored, but here it refers to a new storage technology for smart contracts developed by ExtractoDAO.
Initially, the developers launched the Drawer online platform and are working on developing the IOS and Android app versions of Drawer. All DeFi members participating in [email protected] smart contracts and all other contracts that will be issued on the platform can use the online version of Drawer. Drawer creates a new market for smart contracts and performs the same function as the drawers in law firms, but with the purpose of securely storing smart contracts on the web3 in a transparent and auditable way for everyone. However, ExtractoDAO will also enable clients to hide contract information with anonymity technology in the future if the client desires. Drawer should not be confused with cryptocurrency wallets that store tokens. Drawer stores smart contracts that can be verified on the blockchain, with editable clauses and that fulfil their functions in the web3. Drawer meets the new web3 market standard created by Joel Almeida as opposed to Vitalik's initial idea that everything should be tokenized in the market. Now we have a more advanced and secure technology than tokenization that has opened doors to scams, but at the same time, it has its importance in the market. Drawer sends a message to the market that things will be changing in the coming years, and that there is not only the option of tokenization, but there is a technology that brings more security and guarantees between two parties, including the possibility of regret clauses implemented and executed in smart contracts.
The abusive use of tokenization in most existing projects, consisting of generating a single smart contract and selling tokens for fundraising, has left the market vulnerable, but this is in the interest of many in the market. There is nothing wrong with tokenization; however, it makes life much more difficult for criminals. A team of researchers from ARXIV says that 97.7% of tokens launched on the decentralized crypto exchange Uniswap ended up being frauds. Drawer will neutralize this criminal behaviour allowed by tokenization in the market. We must focus on Drawer and the massive use of smart contracts; we want tokenization with more responsibility.
For the first time in the world, ExtractoDAO allows each person to create their own Stablecoin with a CLICK, and no longer a central issuer like USDT, USDC, and BUSD. COW coin is the native currency of the ExtractoDAO DeFi ecosystem, backed by the holder of the contract, which is 100% audited by the DAO and individually by the issuer, who is the buyer of the contract.
On the other hand, no one has coined a decentralized currency based on food production with the intention of using the cryptocurrency ecosystem to bring solutions to improve people's lives. ExtractoDAO does exactly that, solving critical issues in the market while creating the stablecoin COW coin and generating results for DAO participants.
ExtractoDAO decided to proceed differently. It does not block any token without a backing to create other tokens in staking. Members will have the freedom to sell their [email protected] smart contracts and others to third parties before the maturity period of 135 days, and others that will expire at different terms that will be issued to create COW coin. Certainly, there will also be a COW coin backed in USD in the coming months.
There is no token lock-up to issue new coins, members hold smart contracts that generate profits; they issue new COW coins that are born within a balanced, fair, and flawless economic system. How will the project be maintained? Where will the project's maintenance for marketing and development come from? Will DeFi fees alone do this? NO. The project will be maintained through administration, contract exchange, production management, and blockchain usage fees. ExtractoDAO produces coins backed by production and charges operational fees. Its products are settled with market profit, monetizing its members and maintaining the business.
[email protected] smart contracts and others will be of simple settlement, they serve to speculate without greater risks or to protect yourself from price movements in the most profitable activities in the world. Seek rewards, manage risks, and diversify your portfolio by participating in ExtractoDAO. We have created the true Futures Market in blockchain technology. We are issuing [email protected] and other startups so that there are new ways to protect producers and buyers through the maintenance of positions and risk management. Ethereum offers a blockchain for your company to tokenize, we offer the DRAWER technology for you to issue smart contracts between two parties, fractionating your business into an unlimited number of participating clients. ExtractoDAO creates technology, and the [email protected] is the way to demonstrate that everyone can use the DRAWER technology to issue and store their smart contracts.
The value of a smart contract is separate from the minting tokens. A contract has real value expressly linked to it, which is a real guarantee of the exercise of its rights. ExtractoDAO innovates and reinforces the importance of a broader application of smart contracts beyond the limited form that the cryptocurrency market has assumed only with tokenization.
What is a ExtractoDAO Bull?
It is the governance utility token that gives voting power to the participant in ExtractoDAO.
And what about a COW coin?
It is a native DeFi stablecoin backed by the participant's own capital that mints their own coins, after the maturity of the [email protected] smart contract for the future on the ExtractoDAO platform.
COW coin is an international currency for agribusiness and various other markets that will issue smart contracts and use DRAWER. One of the major issues in the food crisis is caused by the influence of currencies backed by governments that have no responsibility for economic policies. COW coin aims to become a globalized currency used for the production of food and various utilities. All buyers and sellers will be able to use the stability of COW coin. The audit of this currency is done by the individual contract issuer and the collective DAO, meaning that the participating member of ExtractoDAO is the one who certifies the backing of their own currency and production, rather than a central authority. There are many stablecoins in the market, but the COW coin is the only one that has an economic proposal based on being generated through a truly transparent backing. Would you not trust a currency that you yourself issued and audited, with the support of a DAO community based on a backing that you created for that currency? Have you never dreamed of having your own money printer? Then, ExtractoDAO is giving you the opportunity to realize that dream. You will mint the number of COW coins that you want based on the capital of your smart contract that you make available for the production of food and other types of products. You will decide the day and date on which you will mint new COW coins, as you are the one who decides the day of purchase of the [email protected] smart contract and the value contributed to it, with the specified maturity date.