HDAO is a decentralized financial services ecosystem founded by Mr Jayden Wei, a blockchain entrepreneur and crypto enthusiast in the year 2017. HDAO aims to establish a complete DeFi (Decentralised Finance)ecosystem, providing clients with a decentralised financial infrastructure. DeFi holds openness, fairness, and interconnection at its core. Based on distributed ledger and blockchain technology, HDAO has constructed a financial services ecosystem including but not limited to collateral-backed stablecoins, decentralised community crowdfunding, decentralised wallets, cloud exchanges, market forecasts, asset management, microfinance, and e-citizen information systems. In the years following its establishment, HDAO has continued to improve and innovate newer services to further the blockchain industry.
In July 2020, HyperDAO rolled out its first product, the HyperDAO mobile application, which have made investing, trading, lending and information sharing easier. With the mobile application in place, HDAO is ready to move forward, opting for more opportunities and prospects in the blockchain industry. HDAO plans to initiate an upgrade to the hdao.io, platform, to offer decentralized IDO and community crowdfunding services. Let’s take a look at each of these services individually.
IDO and its benefits
An IDO ( Initial Dex Offering) is a variant of initial coin offerings, operated directly by cryptocurrency exchanges. The existence of these IDOs allow HDAO to provide a trustful and time saving process with a wide customer base for its users. Since every promotion and marketing effort is taken care of by the exchange, it means that the issuers do not have to put up an extra effort and money behind the process and can allow for maximum profit. It also provides legal protection as well. IDOs are extremely useful for both investors and startup companies as they provide a wealth of benefits such as wider customer base, greater income and access to exclusive coins.
Community Crowdfunding
HDAO started from a successful blockchain crowdfunding platform that has provided financing for over 70 blockchain projects. HyperDAO’s platform token, HDAO, will be used for project ratings, voting, recommendation and community self-governance, with more ways of using tokens to come. Users can also participate in project crowdfunding with HDAO. More functions will also be added to the upcoming HDAO upgrade to provide a wider variety of services for its users.
An Upgrade to HDAO.io
The upcoming HDAO upgrade will be similar to the HDAO.io in terms of its core functionality but will still differ in the execution of its service and operation processes. Let’s first talk about its similarities. The IEO services provided between the two platforms is still similar. HDAO.io plays a kickstarter role, in that we help to host IEOs for other platforms and help them raise funds for their own projects. The key difference between the two projects is that unlike HDAO.io, the upcoming HDAO project will be fully decentralized. This is similar to a complete community governance, whereby the community is able to vote on the detaisl of the project, such as amount to raise, as well as its raising and unlock period. In the original hdao.io, the terms and arrangements were negotiated between the hdao platform and the project itself and the community has no say in the matter whatsoever. The implementation of this decentralization allows the community to dictate the direction of the development instead of the platform themselves.
HDAO is constantly on the move to improve, innovate and incorporate new services to expand its ecosystem. Please stay updated to HDAO’s social media as we strive to bring you news and updates about its upcoming decentralized IDO project.
