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NewEconoLabs has released a report detailing current development progress on its latest project, FutureDAO. FutureDAO aims to create a next-generation solution for equity crowdfunding, replacing traditional ICO crowdsales with the DAICO model first proposed by Ethereum founder Vitalik Buterin.

According to NEL, the first version of FutureDAO is nearing the final stages of its development, which is expected to be completed by the end of August. This version will primarily be used for “display and discussion,” with project funding and voting functionality to be implemented at a later date.

The project also recently announced that its founder, Liu Yongxin, would give a presentation at the upcoming NEO JOY 2019 conference in Shenzhen, China. The conference will be held on August 24th.

FutureDAO Development

In its second bi-weekly report for July, NEL noted that development efforts focused primarily on the FutureDAO contract and front-end. The team built the initial contract and began the debugging and unit testing processes to ensure there were no security issues.

Front-end development included the design for the v1.0 static page, alongside pages created for user, account, and project management. The corresponding back-end interfaces for these pages have also been completed.

On August 15th, a dedicated FutureDAO project report was released, offering further insight into the development process and sharing a first look at the homepage, where projects running DAICOs may be found.

The August report included a list of functionality added to the back-end server for the project. These includes user-facing features such as the ability to follow or comment on projects, in addition to functions designed for use by project teams.

On the contract side, NEL also completed the code for its dual token bonding curve-based financing model, marking the first step towards the functionality required by projects looking to run a DAICO on the platform.

Although development for v1.0 is expected to be completed in August, NEL has not yet confirmed a release date for FutureDAO.