n Feb 25, 2020, OKEx Jumpstart will welcome its 10th token sale of HyperDAO (HDAO), an efficient, transparent and reliable DeFi (decentralized finance) ecosystem that offers a one-stop financial service platform for global users.
In this complex yet exciting world of crypto, we wanted to take a moment to provide additional information about HDAO – some of our members even asked but failed to understand what it is about.
From having an integrated Asset Management System and interactive forum, to featuring a crowdfunding platform with stable coin backing, HyperDAO really has a lot to offer to the user. HyperDAO aims to be a truly decentralised digital finance ecosystem, one that is governed by its community members, where decision making processes are both transparent and autonomous. This article will touch on some of its salient points that are sure to attract enthusiasts in the space.
At the heart of HyperDAO is its stable coin system, offering users flexibility in terms of collateralisation. Users wary of the volatility of cryptocurrencies can be rest assured in making timely payments without the worry of interim price fluctuations. For example, a user willing to collateralise a fiat currency can use HyperDAO’s internal stable coin currency, thereby pegging its value to the fiat currency. We feel this creates much needed stability in the system, which is crucial going forward for any DAO based system to gain on board more users. Indeed, it’s attractive to see HyperDAO leading the way on this on this front.
HyperDAO stems from its crowdfunding roots, having built upon the success of its initial version (LEEKICO). Not only are users able to contribute to high quality blockchain based projects but do so with high transparency and security. Live transaction data is added from the blockchain itself, making the location of funds fully transparent. On top of this, funds raised for projects are locked up until they reach pre-set milestones, building investor trust and yielding motivation for projects to progress effectively and in a timely manner. Users will be able to effectively vote and nominate projects they wish to see listed on the platform. HyperDAO thereafter carries out a rigorous due diligence process on these investments, ensuring they meet the quality standards of the platform. We have no doubt most users will be attracted to the crowdfunding aspect of HyperDAO, so it’s reassuring to know that it has an established track record in this field.
Perhaps the most exciting feature that HyperDAO plans to develop is its interactive forum, facilitating banking, microfinance and asset management functions. Users can purchase specialised investment products, supported by blockchain technology, with instant transaction data, smart contracts and asset tokenisation. Furthermore, the platform aims to develop banking functionality in order to provide peer-to-peer loans and integrate an interactive forum where users can discuss ideas, collaborate information and forecast future prices for tokenised rewards. The potential for growth here is encouraging, especially since users with high rankings will be able to monetise their advice and expertise for the benefit of the community. The banking functionality also is multi-faceted – lenders will be able to generate passive income, while borrowers loan crypto-assets with stable coin backing as mentioned earlier. Furthermore, HyperDAO is extending the hand to local institutions, allowing individuals to develop their credit score, giving them opportunities to engage in microfinance initiatives.
HyperDAO is a promising offering, incorporating a line of established functions such as crowdfunding and asset management, among exciting new features like banking and microfinance functions. It’s worth mentioning HyperDAO also has an excellent backing of partnerships on a global scale, and this will prove inevitable in developing and extending use of the platform. The one-stop shop vision at the centre of HyperDAO is indeed bold, but once established it has the potential to be a both a game-changer and trailblazer in the market.
If you want to know more about this project, you can visit their Website at HyperDAO.com
This article does not endorse HyperDAO nor represents any type of financial advice.