What is HyperDAO?
HyperDAO is a donation platform. This DeFi ecosystem is meant for raising funds and donating the proceeds to non-profit organizations, charities, individuals, universities, and various other global mission-driven groups. Aside from that, HyperDAO includes other financial services such as decentralized wallets, cloud exchanges, market forecasting, asset management, and so on.
Being governed by a DAO, HyperDAO focuses on community administration and ownership. It also aims to provide transparency and accessible information regarding the fundraising and donation processes.
Simply put, contributors direct projects’ progress and take part in decision-making. Thus, members can submit a proposal for a charity project and the community will vote against or in favor of it. The ultimate choice must be made under the premise that it will benefit HyperDAO. Once the project is approved by the community, the HyperDAO platform funds it. The person who proposed the idea may also recruit HyperDAO’s members to help with its development.
To become HyperDAO members users have to stake the HyperDAO token, HDAO. HyperDAO crypto asset is an Ethereum-based ERC-20 governance token. If you are interested in knowing the current HyperDAO price, you can check the price chart featured above.
Besides, note that the platform is connected to a number of blockchain networks, including Binance Smart Chain, Polygon, and Ethereum.
Use Cases of HDAO Tokens
As it was mentioned before, members need to stake HDAO in order to participate in the governance processes. Depending on the amount of HDAO staked, members get classified under 4 ranks: Bronze, Silver, Gold, and Platinum. As the rank rises, the weight of the vote increases. Therefore, those who have more HDAO staked have more power of decision and are more involved with charity projects.
Don’t forget you can check the live HDAO price above.
Who Founded HyperDAO?
HyperDAO was founded in 2017 by a team based in Singapore, Australia, Korea, and China. Jayden Wei and Ryan Ang are among HyperDAO’s co-founders. Wei is a serial entrepreneur, an investor, and a start-up advisor. Ang is currently HyperDAO’s Head of Operations. He holds a bachelor’s degree in finance. Ang also co-founded Greythorn Asset Management.
Tokenomics of HDAO
HyperDAO has a maximum supply of 5 billion HDAO tokens. Around 5% of it is dedicated to the development of the platform and another 5% is dedicated to the burning mechanism used to reduce HDAO tokens in circulation. The burning of tokens assists in increasing the HDAO price.
Take the time to review the aforementioned HyperDAO chart. This will enable you to spot the main HDAO price movements and make better-informed purchasing decisions.
