Topic: ⭐️ HyperDAO ⭐️ 🔥 Decentralized Financial Services Ecosystem 🔥 - page 5. (Read 1953 times)
I think it would be good for you to periodically have an AMA. It is always good for a project to show progress and to keep a transparent an open communication with their community.
What are the requirements to become a supernode?
Aside from voting for community representatives in elections, users can also nominate supernodes, which are reputable entities such as investment companies, exchanges, wallet providers or other stakeholders in the industry to become part of the HyperDAO ecosystem. They will bring with them a wealth of resources and expertise that can help expand and improve not just HyperDAO’s ecosystem, but the entire industry.
What are the requirements to become a supernode?
What are you doing to spread HyperDAO awareness?I think you should notunderestimating how important comments and posts are on reddit and the creation of a community there.
We definitely agree that we need to be more active in that sense. And we will be working to stay closer to our community. Are you doing the crowdfunding for LIBRA?
We indeed are helping LIBRA to hold its crowdfunding round. We need transparence in the crypto space!! We, as investors, have been totally annihilated!! Sometimes it has been following the hype and investing in projects which have proved not to be accountable about anything. An intermediary between the projects and the investors to guarantee not only the timely distribution of the tokens but also transparency and correct use of the funds is highly needed whether the project is successful or not in the long run!!
We totally agree with you, and as the market matures investors will demand more transparency and accountability on the projects in which they have invested. We are moving away from blind speculation into adoption. That means more regulations, transparency and responsibilities.
I am aware that this project, among many other services, will provide custody services. What type of wallets will you offer?
Knowing that Polkadot is one of the most solids projects out there, I am wondering what is the nature of Polkadot and HyperDao partnership?
Soon we will give more details about this partnership and how it would be beneficial for both parties. What happens if we make an incorrect prediction about future prices movements of a particular cryptocurrency in your platform? I understand that users are incentivized for correct predicts, but if the opposite happens will they incur in some form of punishment or lose tokens? So basically the question is if it would be necessary to stake tokens in order to make a prediction…
Yes, you are right. In order to participate in a poll, users must deposit Hdao tokens into the poll smart contract to be registered as poll tickets. After the poll has ended, participants who chose the correct answer will share the prize pool made up of all the tickets submitted to the pool. As you can imagine users who answer incorrectly will forfeit their deposited Hdao tokens. We really want to encourage participants to conduct research prior to participation and reward them for making well-informed decisions. Of course these polls will form an index of the market sentiments of the cryptocurrency market.
What are you doing to spread HyperDAO awareness?I think you should notunderestimating how important comments and posts are on reddit and the creation of a community there.
If HyperDAO envisions to be a decentralized institutional autonomous governance control, what protocol will use to achieve this goal?
I am really intrigue about the second reason that can trigger your shutting down protocol, “long term market irrationality”. I have a kind of a feeling about what you mean, but isn’t the crypto market irrational in some way or another?
The cryptocurrencies markets have in general more volatility that traditional markets, although BTC and other top cryptocurrencies, like ETH, have become more stable as the market becomes progressively bigger. Nonetheless we have seen that the market is vulnerable and usually reacts negatively to news, attacks, etc. We want to protect our users’ interests by having a shutdown protocol that is activated by hyperDAO community members if they consider it is necessary given the market conditions.
I am really intrigue about the second reason that can trigger your shutting down protocol, “long term market irrationality”. I have a kind of a feeling about what you mean, but isn’t the crypto market irrational in some way or another?
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Could you please elaborate about the stabilization mechanism for your stable coin?
You can find this information in our whitepaper. Seems that HyperDAO is doing partnerships with the right projects. So far I count Perlin and Polkadot. Maybe in the future you can share information about the nature of these partnerships
In the near future we will disclose information about the nature of these partnerships. Indeed they have the intention to be beneficial for both parties. 
September 28, 2019, 10:48:43 AM
Seems that HyperDAO is doing partnerships with the right projects. So far I count Perlin and Polkadot. Maybe in the future you can share information about the nature of these partnerships
September 25, 2019, 04:57:19 PM
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ABOUT HyperDAO :
HyperDAO is committed to creating an efficient, transparent and achievable autonomous digital asset financial ecosystem that serves as a one-stop platform for all your financial needs. HyperDAO will gradually transform its existing centralized business model into one that is decentralized and governed by our community members. By implementing the concepts of decentralization and community governance, HyperDAO will take a step towards a truly decentralized society, one in which decision-making processes are both transparent and autonomous. All members of the HyperDAO ecosystem will be witnesses and contributors to the evolution towards full decentralization.
September 24, 2019, 05:02:19 AM
I think the idea of creating a stable coin tied to different fiat currencies is amazing! We need room for more diversity. Would you consider other fiat currencies in the near future?
At the moment we are concentrated in delivering a stable coin in the three main world currencies, USD, Euro and Yuan. Nonetheless we are aware of the high interest about blockchain that exist in other regions, like Latin America, for example. As the market matures we will consider other currencies. September 23, 2019, 08:02:09 PM
I think the idea of creating a stable coin tied to different fiat currencies is amazing! We need room for more diversity. Would you consider other fiat currencies in the near future?
September 23, 2019, 03:10:53 PM
You plan to be a full DAO (Decentralized Autonomous System), but short term you plan to do a gradual transition. What are the main obstacles you are more likely to find to achieve a fully autonomous system?
Fully decentralised autonomous organizations cannot meet compliance requirements either, and investors sometimes become victims of scams due to exploited loopholes found in DAOs. Therefore, HyperDAO believes a gradual transition programme from a traditional centralized business model to a decentralised model will help to resolve current difficulties while also overcoming obstacles HyperDAO will meet along the way. HyperDAO believes that given the current needs of the market, now is a good time to begin building the foundation of decentralized financial services platform that can provide our community and partners with more ways to reap the benefits of decentralised finance.
Fully decentralised autonomous organizations cannot meet compliance requirements either, and investors sometimes become victims of scams due to exploited loopholes found in DAOs. Therefore, HyperDAO believes a gradual transition programme from a traditional centralized business model to a decentralised model will help to resolve current difficulties while also overcoming obstacles HyperDAO will meet along the way. HyperDAO believes that given the current needs of the market, now is a good time to begin building the foundation of decentralized financial services platform that can provide our community and partners with more ways to reap the benefits of decentralised finance.
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