According to The Block, Singapore-based DAO infrastructure company XDao has completed a $2.3 million seed round of financing at a valuation of $50 million. Participating investors include Panony, DWF Labs, Telos Foundation, and Grizzly Capital. This round of financing is conducted through a token sale, and the tokens will be locked for 12 months and released linearly in 36 months. This round of financing will be used to expand the team and drive product development. XDao provides users with the tools to create multi-chain DAOs, deposit assets, and interact with DeFi.