Place/Date: Melbourne, Australia - February 9th, 2020 at 8:25 pm UTC · 4 min read
Contact: Ryan Ang, Source: HyperDAO
The token sale for the One-stop financial service platform HyperDAO will be the 10th such token sale to take place on the OKEx Jumpstart platform, and only the second decentralized finance project collaboration with the exchange.
Decentralized Finance (DeFi) is becoming an increasing trend in blockchain applications, and right now is an opportune time for financial service applications to migrate to this new and door-opening technology. This integration represents a paradigm shift that can offer countless new benefits, such increased transparency, fairness, and sustainability.
HyperDAO is creating a completely decentralized financial infrastructure where openness, fairness and interoperability intercept. At the core of its foundation is an attractive incentive scheme and a robust energetic community. Over 3 years in development, HyperDAO has helped over 50 other projects to achieve their funding goals, and now boasts a community of over 1 million users worldwide.
HyperDAO has developed a P2P loan infrastructure that offers stakeholders passive income, and a microfinance system designed to enable less advantaged individuals the chance to obtain credits to generate income through small businesses, or by allowing them to generate income by an innovative list of long distance task completions.
HyperDAO has applied a combination of approaches to offer its users a holistic DeFi experience, developing innovative tools such as interest rate mechanisms to provide stability against issues like extreme crypto asset volatility. The interest rate is determined by the current value of a chosen stable-coin in relation to fiat, with an increase in the value of HyperDAO resulting in a lowering interest rate. Conversely, any decrease in the decrease of HDAO with respect to fiat, will increase interest rates, creating an incentive for users who wish to hold their tokens, decreasing the price.
One of the ever constant talking points around blockchain technology is security, and HyperDAO have made no secret in stating that they have a contingency plan for any eventuality. HyperDAOs shutdown protocols one such example: a protocol that safeguards the interest of all Hyper stake-holders, in the event of the platform experiencing any type of attack. The protocol is also initiated when 10% of holders send their tokens to the contract.
HyperDAO value its HDAO holders very much as they play a significant role in the governance of the system, and can vote to execute a number of risk management actions, extending to the shutdown protocol, the nomination of safety nodes, the adjustment of interest rates, and governance of proposals.
Jay Hao, founder and CEO of OKEx stated:
OKEx believes in Decentralized Finance (DeFi), and this is what we are endeavoring to develop. We are glad to partner with HyperDAO who share the same belief with us. HyperDAO brings the industry a new series of real-life applications. I am always surprised by the many innovations out there and it is our pleasure to help the creators realize them. We hope other market players join hands in bringing blockchain innovations to everyone’s life.”
One of the big grey areas in the blockchain industry is the creation of trust between emerging projects and investors. Investors have to face the challenge of differentiating high quality, ethical projects, from opportunistic, quick money making token sales. HyperDAO aims to do all the legwork for backers, recommending only the most trustworthy, and transparent projects.
A part of this service also includes carefully tracking the movement of backers funds, so offer assurance and peace of mind. With its trustworthy team, who have gained much experience over the last three years of project development, HyperDAO is committed to building an efficient, transparent and reliable DeFi (decentralized finance) ecosystem, offering a one-stop financial service platform for global users.
Disclaimer HyperDAO is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.