What Is HyperDAO (HDAO)?
The website says HyperDAO (HDAO) is an entirely decentralized IDO launchpad that allows token holders to govern the project's growth and partake in decision-making via a decentralized autonomous organization (DAO). An initial DEX offering (IDO) is a fundraising strategy that pools investment worth from retail investors. HyperDAO is made on the Polygon, Ethereum, and Binance Smart Chain network. It enables the leading crypto projects to launch their tokens and provide initial liquidity through their existing users.
As per the whitepaper, the coin aims to build a capable, transparent, and feasible autonomous digital asset economic ecosystem that acts as a one-stop forum for all financial requirements.
With the help of blockchain technology, HyperDAO desires to make specialized investment products with better transaction data, asset tokenization, and smart contracts. Smart contracts are similar to regular contracts; however, instead of being drafted on paper, these contracts operate in the form of protocols on the blockchain. However, the idea is to build a platform that enables users to place their knowledge for testing and participate in predictions happening for different topics, like future expenses of cryptocurrencies, with variable parameters and precision degrees required. Furthermore, HyperDAO seeks to transform the current centralized business model into a decentralized one that the community members can control.
HyperDAO leverages a stablecoin approach, which, unlike the existing stablecoins, provides immense flexibility concerning collateralization. Collateralization is the usage of a worthy asset to ensure a loan. Also, the token permits individuals to collateralize virtual holdings in exchange for the Hyper that can be pegged to various other currencies, like the HyperDAO SC system. The HyperDAO SC system can mint Hyper-USD, Hyper-CNY, Hyper-EUD, etc. HyperDAO has also built out the architecture capable of sustaining Hyper, including a wallet and dedicated exchange that lets users purchase, withdraw, deposit, and trade Hyper.
In the Hyper stablecoin forum, HDAO holders hold a vital role in the management of the system and voting procedure to perform several risk-management activities:
Nominate Safety Nodes
Modify Hyper Interest Rate
Create Governance Suggestions to Be Voted
Trigger Shutdown Protocol
Nominate Price Oracles
HyperDAO offers users investment options in different high-quality blockchain projects as a skilled blockchain incubator. Also, HyperDAO makes sure that entry obstacles are pretty low so that everyone can partake. Users of the platform can also gain passive income through staking even if they decide not to experience any project launches.
With economic inclusivity as the priority, HyperDAO desires to give users who are in financially limited situations a chance to receive necessary financial services in an unbiased and beneficial atmosphere.
