## What Is FaceDAO (FACEDAO)?

FaceDAO (FACEDAO) is a Web 3.0 based decentralized network where users can be part of a decentralized autonomous community ([DAO](https://coinmarketcap.com/alexandria/glossary/decentralized-autonomous-organizations-dao)) and interact with real people from all over the world. FaceDAO is not only a social media platform and DeFi, but also a next generation social network built on blockchain technology where account users can exchange cryptocurrencies.

Freedom of expression, transparency and high-level security are key aspects that the FaceDAO protocol focuses on, as the project wants only genuine content and reliable information to be presented on the platform. 

The protocol adheres to the [Web 3.0](https://coinmarketcap.com/alexandria/glossary/web-3-0) vision, and unlike [Web 2.0](https://coinmarketcap.com/alexandria/glossary/web-2-0) projects, FaceDAO gives users ownership of data, even paying for their data/actions: active users of the platform perform certain tasks on an ongoing basis and receive rewards in the form of FACEDAO tokens, the only officially issued token at FaceDAO. Tokens can be earned by both content creators and consumers, they can get FACEDAO for actions like posts, likes, comments and retweets.

According to the project, users of FaceDAO are 100% real people who communicate, share information and create content without any restrictions, while the decentralized nature of the blockchain system guarantees data security and immutability; moreover, the project states that it is impossible to create fake accounts on the platform. As a result, all information is transparent, trusting relationships are formed and confidentiality is not violated.

Who Are the Founders of FaceDAO?

According to the FaceDAO [whitepaper](https://facedao.io/files/FaceDAO_Whitepaper.pdf) on the official website, the product was developed by industry experts and software engineers from major companies such as IBM, Google, Apple, Huawei, Facebook and Tencent. However, the identity of the founder/CEO, as well as the team members are not named. As of May 2022, work on the FaceDAO project is being conducted anonymously.

Based on the roadmap information, in Q2 2021, a team was assembled and a concept was invented. Then, in Q3 2021, there was a seed investment by the team, in Q4 2021, the project was still at the development stage, and in Q1 2022, the product/official website was launched, as well as the distribution of $FACEDAO.

What Makes FaceDAO Unique?

On centralized platforms, users have no power over data/content, so the information is owned and monetized by social networks. The FaceDAO project seeks to address the shortcomings of Web 2.0 social networking and return power and control to users.

Benefits of FaceDAO:

On the FaceDAO platform, users themselves can choose content, participate in platform governance and affect the development vector. FaceDAO users are the ultimate beneficiaries: a reward system is available for them, where $FACEDAO is earned by both content creators and content consumers.

FaceDAO developers guarantee the transparency and reliability of data, excluding privacy violations, invasion of personal space and shadow algorithms.

Each user has only one account, which eliminates the presence of fake identities and bot accounts. All community members are 100% real people as verified by 3D liveness verification and authentication.

FaceDAO eliminates the following risks:

Fake user accounts. Blockchain technology generates an individual match between accounts and individuals;

Account theft. The risks of distribution and sale of user information by hackers for profit are significantly reduced, and the successful recovery of a lost account is extremely high.

In other words, FaceDAO is a social mining project where the economic model is intertwined with social behavior, and any social behavior is rewarded.

FaceDAO income earning methods include:

Administrator role: users are rewarded by managing the platform and maintaining order/community rules;

Invitation mechanism: users can invite friends/acquaintances to the platform and receive rewards in FACEDAO tokens;

Task reward: users complete community service tasks within a certain period of time (participation in promotional events, for instance);

Passive income: users can set up advertisements. Display ad slots can be created on the platform / personal homepages and users can choose to post or not. Advertising revenue is shared among all FACEDAO holders based on the holding ratio.

Related Pages:

Read about [Aave (AAVE)](https://coinmarketcap.com/currencies/aave/) and [Hive (HIVE)](https://coinmarketcap.com/currencies/hive-blockchain/).

Learn about [Subsocial (SUB)](https://coinmarketcap.com/alexandria/article/how-subsocial-will-monetize-decentralized-social-media-on-web-3-0).

What is Binance Smart Chain (BSC)? Take a tech deep dive with our [educational portal](https://coinmarketcap.com/alexandria/article/what-is-binance-smart-chain). 

What is a DAO? Check out our definitive [guide](https://coinmarketcap.com/alexandria/article/what-is-a-dao-coinmarketcap-s-definitive-guide).

Brush up on crypto terminology with the CMC [glossary](https://coinmarketcap.com/alexandria/glossary).

How Many FaceDAO (FACEDAO) Coins Are There in Circulation?

$FACEDAO is a network token of FaceDAO deployed on [Binance Smart Chain](https://coinmarketcap.com/alexandria/article/what-is-binance-smart-chain) (BSC) as a [BEP-20](https://coinmarketcap.com/alexandria/glossary/bep-20) with the maximum supply of 1,000,000,000,000,000 coins, which are distributed as follows: 90% goes to the community treasure (user rewards, airdrops, community tasks, providing liquidity in DEX), and the remaining 10% goes to development (platform maintenance, infrastructure construction, server development costs).

$FACEDAO provides users with an entrance to Web 3.0: each user has their own unique FACE aka private key & decentralized identifier (DID) and has the right to earn $FACEDAO. Members can obtain tokens on the platform by earning $FACEDAO for their efforts / daily activities and the more they earn FACEDAO, the more features and benefits they get.

Thus, the FaceDAO project tokenizes almost every social action of users: entering the platform/liking/leaving comments/posting content/participating in activities/inviting friends.

FACEDAO is also the governance token, users can vote and elect custodians, and for voting governance, they can get a certain amount of rewards (a person can get up to 50,000 $FACEDAO per day). To make a post, users need to spend 1000 $FACEDAO, and to unlock new social features on the platform, they stake 10,000 $FACEDAO. To draw more attention to publications, users can connect the so-called "Top" function, which costs 1 million $FACEDAO and has a time limit of 24 hours (the platform will distribute these 1 million coins to community token holders).

To sum up: FaceDAO rewards content creators and content consumers with $FACEDAO.

How Is the FaceDAO Network Secured?

In April 2022, FaceDAO passed a smart contract security [audit](https://coinmarketcap.com/alexandria/glossary/smart-contract-audit) from Beosin, a Web 3.0 blockchain security company that provides services to protect [smart contracts](https://coinmarketcap.com/alexandria/glossary/smart-contract), [DApps](https://coinmarketcap.com/alexandria/glossary/decentralized-applications-dapps) and wallets by applying formal verification methods in its core technology.

The summary of the audit results is available [here](https://facedao.io/files/Smart_contract_security_audit_report_FACE.pdf).

Where Can You Buy FaceDAO (FACEDAO)?

FaceDAO (FACEDAO) is available on [PancakeSwap (V2)](https://coinmarketcap.com/exchanges/pancakeswap-v2/https://coinmarketcap.com/exchanges/pancakeswap-v2/), a decentralized exchange platform for swapping BEP-20 tokens on Binance Smart Chain (BSC).

Download the CMC [mobile app](https://coinmarketcap.com/mobile/) to track prices of FACEDAO in real-time.

What is Web 3.0? Learn more with [CMC Alexandria](https://coinmarketcap.com/alexandria/article/what-is-web-3-0).


FaceDAO

MetaMask

Binance Chain Wallet

BNB Smart Chain (BEP20)

PancakeSwap

Trust Wallet Token

BinaryX

SafePal

Venus

Solidus Ai Tech

Seedify.fund

Sleepless AI

Phoenix

Ontology Gas

Venus BNB

H2O DAO

Beldex

Hooked Protocol

RGAMES

Biceps

MEME AI

ROMCOIN

Wrapped Astar

GSENetwork

OpenDAO calls itself “the token of the metaverse” and aims to become a central asset for the metaverse and Web3, in a similar fashion as stablecoins like USDC. OpenDAO launched its SOS token on Christmas Day 2021 via an airdrop to all users that had bought, sold or traded NFTs on marketplace OpenSea. The declared goal was to create a way to pay tribute to the NFT creators, collectors and marketplaces and nurture the NFT ecosystem.

OpenDAO aims to build utility for its token by allowing users to mint NFTs with SOS, trade NFTs for SOS on permissionless marketplaces and implement it in games and projects as a governance token.

OpenDAO

Obitan Chain

Cult DAO

Bitgert (BRISE) is a crypto engineering project launched in July 2021 that specializes in blockchain products and centralized exchange. Initially, Bitgert was built on BNB Chain and used BNB, its native token, to pay rewards. However one of the most significant Bitgert developments was presented in 2022: the BRC20 blockchain. It offers near-zero gas fees and high speed cross-chain transactions. More specifically, the gas fee is $0.0000000000001 per transaction, while the supported throughput is up to 100,000 TPS.

The list of Bitgert products also includes Bitgert Blockchain, Bitgert Exchange, Paybrise, Realestate Marketplace,  Decentralized marketplace, BRISE staking, BRISE Swap.

Bitgert offers an alternative to the popular DEX platform PancakeSwap.

BRISE is Bitgert's native token, allowing investors to benefit from staking and earning rewards in BUSD on BSC network only.

Smart contract on BSC Chain feature a buyback mechanism. To be more precise, Bitgert directs 5% of every transaction fee for buyback, 3% for marketing and 4% for staking rewards. According to the team, buyback is meant to support the price of BRISE token making it a deflationary asset.

Smart contract on ETH Network has zero tax fee

BRISE claims to have a real use case with becoming the global payment system and is applied as a peer-to-peer (P2P) service in the BRISE dApp Wallet. Thus, buyers and sellers interact directly, without the participation of a third party, through the P2P service, and transactions are carried out quickly, securely and with zero fees.

Bitgert

APENFT

D Community

CNNS

BoutsPro

Jinbi Token

Bridge Oracle

MyToken

NEST Protocol

Kin is a decentralized cryptocurrency that was created in 2017 by Kik Inc.

Kin was initially launched on the Ethereum blockchain. In 2020, Kin migrated to the Solana blockchain in order to achieve lower transaction fees and greater scalability.

Notably, Kin has zero inflation. The Kin supply is fully distributed and no additional Kin tokens will enter circulation.

In 2020, Kik Inc agreed to a mutual settlement with the United States SEC in which Kin was not required to be registered as a security, making it one of the few cryptocurrencies with such regulatory clarity.

ClubCoin

Pitbull (PIT) is a community-driven, dog-themed meme coin on Binance Smart Chain (BSC). It prides itself on community development and claims to be a “unique social experiment” by engaging investors in the development of the community, as well as in the project itself. Pitbull rewards its investors through an auto-staking mechanism, which guarantees passive yield by rewarding token holders with fees from transactions that are conducted in PIT.

Pitbull promises a highly ambitious roadmap for a meme coin, which includes:

Launching on several blockchains, including Ethereum (ETH), Polygon (MATIC), Kucoin (KCS), and Cardano (ADA).

A Pitbull magazine called PitMag

Pitbull non-fungible token (NFT) collections and collaborations

A Pitbull play-to-earn game

A Pitbull Metaverse

Thus far, Pitbull has managed to collect 100,000 followers on Twitter and over 40,000 on its official Telegram channel, which is an impressive feat considering the token was only launched in March 2021.

Pitbull

eCash (XEC) is the rebranded version of Bitcoin Cash ABC (BCHA), itself a fork of Bitcoin (BTC) and Bitcoin Cash (BCH). It calls itself a “cryptocurrency that’s designed to be used as electronic cash.” eCash strictly aims to be a means of transaction used to pay for goods and services. The coin was rebranded on July 1, 2021, and has since tried to distinguish itself from its predecessor. The base units of eCash are called “bits” and replace the unwieldy decimal places of Bitcoin Cash ABC. Instead of sending 0.00001000 BTC, you would send 10 bits with eCash. ECash integrates a proof-of-stake (PoS) consensus layer called “Avalanche,” which is not to be mistaken for the blockchain Avalanche (AVAX). Upon rebranding, eCash announced that it would convert all BCHA coins to XEC at a ratio of one to one million.

The cryptocurrency’s developers have set their sights on three main improvements:

Scaling transaction throughput from 100 transactions per second to more than five million transactions per second

Improving the payment experience by reducing transaction finality time

Extending the protocol and establishing fork-free upgrades

eCash

BabyDoge is the leading community meme coin on the BNB chain. Baby Doge was created initially as a joke with a mission to help spread awareness of animal adoption. Tweeted by Elon Musk BabyDoge was propelled into pop culture as an adorable icon

The primary utility for Baby Doge is building a fun meme community to spread awareness of animal welfare and pet adoption. The BabyDoge ai image generator empowers the BabyDoge community to create ai babydoge characters ai memes, and ai images on demand without any design experience. Additionally users can pay in babydoge to mint their images into NFTs.

BabyDoge is the only meme with an official world record for helping save dogs donating over 81,000 pounds of dog food.

BabyDoge has its own Swap BabyDogeSwap.com where it has its own AMM, core farms, farming as a service, free token locker, burn portal, card, Ai image generator, NFTs and more!