YashaDAO Promises A Community-Driven Incubator For Crypto Projects

The global blockchain market hit a record high valuation of USD 4.9 billion in 2021, gaining traction across many major industries. Institutional venture capitalists and retail investors are fueling this trend and pumping capital into crypto startups and projects.

By 2028, it is predicted to increase at an annual rate of 82.4 percent and soar to a market value of USD 394.60 billion!

Despite the highs that the crypto sector has achieved and the potential, it holds for transformation, it is nascent and volatile. Due to the lack of regulations and oversight in this space, investors fall prey to fraudulent Initial Coin Offerings (ICOs), shitcoins, and pump and dump schemes.

These scams have made investors apprehensive about investing in even seemingly valuable projects. This has also led to difficulties in raising capital for high-quality crypto startups. If this is left unchecked in the long run, it will certainly harm the industry and hinder the widespread adoption of cryptocurrency.

YashaDAO entered the scene to foster a healthy crypto investment ecosystem by solving the twin problems of capital fundraising and vetting genuine projects. But what is it all about? And does it match up to its promises?

Read on to find out!

YashaDAO is a decentralized finance (DeFi) protocol built on the Ethereum network.

YashaDAO appears to have a solid foundation rooted in strong fundamentals of investments and due diligence. Memecoins can often be an extremely risky venture with massive losses, frauds, and exploitations.

One of the largest scams that befell the crypto community was the Squid Game token where investors were rekt from a rug pull of USD 3.4 million in a matter of minutes! In January 2022 alone investors lost over USD 4 million to scam crypto projects and this figure does not include the money lost to hacking attacks. Such is the magnanimity of the situation.

YashaDAO, according to its Whitepaper, is here to “transform the meme coin space forever and for good”. Being built on the Ethereum chain, its purpose is to serve as a vetting and contribution program for bootstrapping high-quality potential new token projects, charities, and not-for-profit organizations that want to raise capital or funds from the community.

YashaDAO itself has undergone a smart contract audit by DeFi contract audit firm, Nebula, to prove its trustworthiness. According to the audit report, YashaDAO’s smart contracts are “well- designed and engineered” with “no critical or high issues” found related to business logic, security, or performance thus providing transparency to its users from the start.

The YashaDAO project is divided into three parts: the Yasha Incubator, an incubator for crypto startups, Yasha DAO, the community of investors who also govern the platform, and the YashaPAD, a launchpad that provides safe, handpicked projects for investors.

The YashaDAO platform aims to connect investors and credible startups by offering a healthy, scam-free investment environment in the form of an incubator cum launchpad. Thus, the “IncuLaunch” serves benefits to all stakeholders in the crypto investment space.

From the crypto fundraising front, the team behind YashaDAO has created the Yasha Incubator which is dedicated to evaluating and assessing novel blockchain initiatives and ventures. New projects who wish to list themselves on the YashaDAO platform will submit an application listing all particulars and relevant documentation.

The project then reaches the YashaPAD where they are vetted by the team and community. The launchpad has strict due diligence processes in place such as live recorded video calls, 2FA with phone numbers, watch list checks, and background checks prior to listing. Once these checks are completed, the project moves on to the next phase where the YashaDAO members vote on the project assessing its viability and credibility for it to be listed.

Only if the project passes all of these checks do they get approved to be listed on the YashaPAD and given access to a pool of potential investors or grants. In this sense, YashaDAO has the potential to transform the crypto investments space by offering reliable projects only to be listed and for investors to fund noteworthy projects.

Few projects such as Guzzler, an NFT based car racing game, $CLIFF, a hyper deflationary token have already launched successfully on the platform and are performing well in secondary markets. Further Pochi Inu, a unique metaverse pet token launched on YashaDAO shortly after them.

YashaDAO will remarkably propel the DeFi revolution if it achieves its goals. Without being tied to traditional venture capitalists, any protocol, NFT game, or token initiative, the crypto community now has a fighting chance to obtain funding in a way like never before.

With the YashaPAD and incubator segments, crypto-themed companies in the Web 3.0 space can fund their ventures without approaching veteran venture capitalists and raise funds in a community-driven way.