Topic: ⭐️ HyperDAO ⭐️ 🔥 Decentralized Financial Services Ecosystem 🔥 - page 2. (Read 1953 times)

OKEx, the leading crypto assets exchange and trading platform, through its OKEx Jumpstart program has announced the launch of a new token sale. The HyperDAO (HDAO) sale set to go live on Feb 25, 2020 will become the 10th such offering of the program as it aims to promote the development and adoption of blockchain infrastructure across industries.

The HyperDAO project is said to have found a place in the OKEx Jumpstart program due to its potential to develop an efficient, transparent and reliable decentralized finance (DeFi) ecosystem. Upon realization, the HyperDAO project will position itself as a one-stop financial service platform for global users. While announcing the upcoming token sale, OKEx mentioned that HyperDAO’s belief in decentralized finance matches its own and wide-spread implementation of HyperDAO’s solutions can lead to a transformation of existing centralized business models to decentralized ones where community performs governance duties instead of a select few.

Reiterating the company’s commitment to promoting blockchain-based financial services for all, the CEO of OKEx Jay Hao mentioned HyperDAO and said,

“OKEx believes in Decentralized Finance (DeFi), and this is what we are endeavoring to develop. We are glad to partner with HyperDAO who share same belief as 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 to join hands in bringing blockchain innovations to everyone’s life.”

Hao’s statement resonates with the ones made by the company Director of Monetary Markets Lennix Lai at the sidelines of World Economic Forum annual meet at Davos where he announced that OKEx is ready to work with partners to address issues of the unbanked with blockchain. One of the things mentioned by Lai as necessary for next-generation monetary inclusion is the need for reputable stablecoin. The HyperDAO ecosystem will be capable of providing a comprehensive, integrated financial service ecosystem complete with infrastructure, trader-intrinsic services like a stable coin, crowdfunding, wallets, market analytics systems, microfinance and e-citizen information system, etc., all on the blockchain.

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By achieving a 360-degree coverage of applications on micro and macro levels, HyperDAO exhibits a potential for synergy with OKEx to revolutionize financial systems. During the upcoming sale, a total supply of 5 billion HDAO tokens will be made available on OKEx Jumpstart at a price of $0.01/token. The pricing is 100% lesser than that of HDAO private sale, which also comes with a minimum subscription amount of 32,000 HDAO.

During the HyperDAO token sale, OKEx’s own OKB tokens will serve as the mode of subscription and settlement at the exchange rate against USD on that day. The HDAO token sale will be launched in 2 consecutive sessions—OKBelievers Exclusive Allotment Session starting 4:00 UTC and OKTraders Privilege Allotment Session opening 5:00 UTC on Feb 25, 2020. The allotment is set at 100 million HDAOs each, with an individual cap of 400,000 HDAOs.

Following the launch of the token sale, the HDAO/USDT and HDAO/USDK spot trading pairs will be made available on the same day at 7:00 and 9:00 AM respectively.

More information about the HyperDAO token sale is available at – https://okexsupport.zendesk.com/hc/en-us/articles/360039127232-OKEx-Jumpstart-x-HyperDAO-HDAO-Token-Sale-Details

Tether has a high level of centralization. And although its mechanism is pretty easy to understand by anyone (you basically create 1 USDT every time 1 USD is deposited in some bank account) it has some disadvantages.
The first problem is his (1) high level of centralization which creates, of course, a high possibility of fraud, Tether has been under the spotlight regarding this issue. (2) It needs audits by trustworthy 3rd party companies which are expensive. (3) Reserves can be seized or the company shut down which makes it highly dependent on banks. Such are the problems of centralization.
On the other hand, the DAO projects create their stable tokens by means of an elaborate smart contract system backed by Ether holdings. These stable tokens are pegged to USD, EURO or Yuan every time a user takes loans out in these electronic “Fiat-tokens” against their ETH holdings. This is called collaterization and it has to be at least 150% of the total amount borrowed. Basically the money is being created by people taking loans using their ETH as warranty that they will pay back the loan. The “Fiat tokens” are created according to the current value of ETH. This is how cryptocurrencies create these “Fiat-tokens”. The advantage is that this system is decentralized or partially decentralized and, therefore, auditable and has driven incentives for their communities.
The disadvantages are (1) the complexity of the mechanism that maintains price stability. This complexity makes them (2) difficult to understand to the layman and hard to scale. They also have the disadvantage of (3) a potential crash given any “market irrationality”: periods of extreme volatility in the market which could create a downward spiral. HyperDAO even has a shutdown protocol to protect itself from such worst case scenario.
Long story short, the DAO approach tries to use cryptocurrencies to generate stable electronic fiat, rather than paper money. Using cryptocurrencies to generate “Fiat-tokes” adds a greater level (although not perfect) of decentralization with respect to stable coins like USDT, TUSD or Stably.

OKEx Jumpstart to Launch Its 10th Token Sale with HyperDAO (HDAO)


VALLETTA, Malta, Feb. 6, 2020 /PRNewswire/ -- OKEx Jumpstart, the token sale platform of the world-leading cryptocurrency exchange OKEx, announced its 10th token sale with HyperDAO (HDAO) to be launched on Feb 25, 2020 (UTC). HyperDAO is committed to building an efficient, transparent and reliable DeFi (decentralized finance) ecosystem, offering a one-stop financial service platform for global users.
With the same belief as OKEx in decentralized finance, HyperDAO seeks to "gradually transform its existing centralized business model into one that is decentralized and governed by community members." Backed by distributed ledger and blockchain technology, HyperDAO provides a comprehensive, integrated financial service ecosystem. From infrastructure, trader-intrinsic services such as stablecoin, crowdfunding, and wallets, to market forecast, development of microfinance, and e-citizen information systems, HyperDao covers applications on both micro and macro levels.

"OKEx believes in Decentralized Finance (DeFi), and this is what we are endeavoring to develop. We are glad to partner with HyperDAO who share same belief with us," said Jay Hao, CEO of OKEx. "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 to join hands in bringing blockchain innovations to everyone's life."

Subscription Details
HDAO has a total supply of 5,000,000,000 HDAO and will be available on OKEx Jumpstart at $0.01 per HDAO, while the private sale price from HyperDAO is $0.02 per HDAO, with an individual minimum subscription amount of 32,000 HDAO. OKB is the only token accepted for the subscription and settlement. The exchange rate of OKB/USD will be confirmed on the sale day. There will still be 2 subscription sessions on 25 Feb. The OKBelievers Exclusive Allotment Session will open at 04:00 (UTC), and the OKTraders Privilege Allotment Session will open at 05:00 (UTC).

OKBelievers Exclusive Allotment Session: 100,000,000 HDAO
Individual Cap: 400,000 HDAO
Over-subscription Limit: N/A

OKTraders Privilege Allotment Session: 100,000,000 HDAO
Individual Cap: 400,000 HDAO
Over-subscription Limit: N/A

Following the token sale, the HDAO/USDT and HDAO/USDK spot trading pairs will be available at 07:00 and 09:00 Feb 25, 2020 (UTC) respectively.

Please refer to OKEx Jumpstart x HyperDAO (HDAO) Token Sale Details for further information.

About OKEx
OKEx is a world-leading digital asset exchange headquartered in Malta, offering comprehensive digital asset trading services including fiat-to-token trading, spot trading, futures trading, and perpetual swap trading to traders globally with blockchain technology. Currently, the exchange offers over 400 token and futures trading pairs enabling users to optimize their strategies.




New Link : https://www.marketwatch.com/press-release/okex-jumpstart-to-launch-its-10th-token-sale-with-hyperdao-hdao-2020-02-06

If they do not realize the importance of decentralization that is their problem. The implications of blockchain are so deep they represent a paradigm shift as great as the invention of the print. The print allowed people to read, scrutinize and question. Those are forbidden ingredients for any authoritarian form of government. The space looks horrible and this has been a long winter, but the work has not stopped.

Speculation and popped bubbles are also part of the process of mass adoption. What it matters is that innovation has not stopped and HyperDAO and other decentralized financial systems are proof of that.

Definitely, but I am still wondering why so many of these projects were born dead. I still remember the time when there were only one thousand projects or something like that. It can make anyone skeptical.

 Can someone explain to me the different mechanisms to create stable coins? Why are HyperDAO or MakerDAO any different to USD Tether and why the DAO approach is better or even necessary?

The first thing we have to understand is that blockchain is a revolutionary technology but it has been hyped and distorted. This distortion was part of a social phenomenon created by the euphoria of 2017’s bull market. Seeing a number of assets grow continuously over a period of 2 years created cognitive bias in many individuals. They associated speculation and manipulation with technological mass adoption. They were so convinced that blockchain was about to take over the world, something which was not truth, at least not at the moment. It was not truth either for most projects as we continue to see a massive purge in the space.What is probably truth it that blockchain represents nowadays what the Internet represented to people in 1994-1997. Nobody knew what Internet really meant except for a small group of innovators. Nonetheless, eventually Internet was able to infiltrate in every single pore of industrialized societies. The same will happened with blockchain technology.

I see how the blockchain continues to evolve in the positive direction, we have reached for example the point where a project like HyperDAO has created a series of stable coins pegged to the Dollar, Euro, and Yuan and backed by Ethereum collaterization. But looking at the number of cryptocurrencies available at coinmarketcap (right now there are more than 5000 projects) and seeing how most of the projects that were so hyped during 2017-2018 are now under the waterI do not blame people from other technological sectors when they look with scorn or even indifference anything related to blockchain technologies. I have seen in many conferences how people recoil and sometimes almost reach to the point of open hostility. Crypto is very often associated with the word scam. But again we continue to see the innovation and the impact that represents the creation of a non-centralized monetary system and the wonders it can bring to our financial system.

Seems like 2019 was the year for DeFi. It even outperformed BTC in growth. I am wondering if this trend will continue during 2020.

I can see that now. Good points. Mass adoption continues to be the last boundary.

The biggest opportunity is the inclusion of third world countries into the DeFi movement and its synthetic assets. Think about an artisan in Haiti, a cheese producer in Argentina, or a merchant in Iran. All these countries have in common a high inflation rate. They can store their wealth in a stable coin like Hyper which can act as a synthetic dollar, euro or yuan, rather than storing their wealth in their local currency and watching its value erode over time. With the opportunity comes the big challenge and that is, how to make HyperDAO accessible to the masses, the real people?

The biggest challenge? Probably regulations. Right now HyperDAO and other projects can operate without regulatory approval given its decentralized nature. But in order to create a regulatory structure some crypto-friendly jurisdictions will be much needed. That would probably mean that lawmakers will have to agree to formulate such regulatory framework.
Opportunities? Maybe asset tokenization? Also the opportunity to expand in those sectors where traditional (centralized) financial institutions have left out large portions of the world population…

What do you think will be the big challenges and the big opportunities for DeFi protocols like HyperDAO during 2020?

Well, they already gave you a list. DeFi is the future of finance. It represents the first attempt to try to create stable coins backed by collaterals instead of fiat like USD. That is money whose value is determined by algorithms open and accessible to everyone and not by a central bank.

There is plenty of options offered by DeFi market’s like HyperDAO. The list is long, I only include a few of the most interesting ones:
•   You can earn interest on crypto assets by holding on them. There are compound protocols and Dapps. We could mention Dharma, Celsius, Nexo, BlockFi, etc.
•   You can protect yourself against the failure of smart contracts with Nexus Mutual, Etherisc, etc.
•   You can bet on the outcome of any event with predictive market platforms, there are plenty of them, like Augur, Gnosis, Helena, etc. HyperDAO has its own predictive market platform.
•   You can hedge your crypto assets by means of derivative trading platforms.
•   You can store value in a crypto-backed stable coin like HyperUSD in time of extreme volatility.

I am still wondering why everyone is so excited about DeFi. What a project like HyperDAO can offer to the market which is not currently offered by any other form of centralized institution?