## 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).


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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

Bitcoin File

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.

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Roobee (ROOBEE) is a blockchain-based investment platform that allows users to invest in products from both the traditional and crypto markets. The platform is under active development and is already operational. Behind the platform is a team of developers who won prizes in hackathons, including the 2017 and 2019 ETHWaterloo hackathons held in Canada by ETHGlobal.

The mission of Roobee is to give any person with any level income an opportunity to invest starting just from $10 in investment products that are only available to big institutional players, qualified investors, millionaires, and funds. With the help of the Roobee platform, the goal is to empower people from all over the world to invest in any of the many investment products available on the platform: crypto, stocks, ETFs, IPOs, real estate, and more.

ROOBEE

Ubex

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.