HyperDAO — Enabling Greater Transparency in Charity
According to latest reports, Ethereum’s co-founder Vitalik Buterin donated 750 ETH, worth around $2.6 million at the time of writing, to Support Ukraine. This shows the enthusiasm of global donors who are hoping to help war-torn refugees, and also showcases the rapid development of global philanthropy.
However, the credibility of some charitable organizations has been declining over the years due to centralization. There seems to be a multitude of untrustworthy factors in where philanthropy money comes from, where it is stored, and where it goes. The lack of credibility stems from untrustworthy individuals, as well as the lack of transparency.
Nowadays, although many charities have disclosed their financial statements on their official websites, they still lack third-party supervision, and in turn, a certain degree of credibility. Faced with such a dilemma, HyperDAO’s charity protocol incorporates blockchain technology to provide a new path of change for the industry.
HyperDAO, a Decentralized Charity Protocol
HyperDAO is a DAO-based (Decentralized Autonomous Organization) charity protocol that aims to create a better future. As a pioneer in blockchain-based charity, HyperDAO has provided a new solution for philanthropic initiatives. HyperDAO’s strength lies in its potential and scalability: its potential is attributed to its community governance, constant upgrades of its platform, and development of new applications; scalability refers to its appreciating value, the influx of capital, and token staking for HyperDAO’s positive development.
With a new focus on international expansion, HyperDAO will develop new applications and core infrastructure for the charity sector, and improve the credibility of the overall industry through new technologies such as blockchain, DeFi, big data, and more. The platform will establish a new standard of credibility when it comes to assets, transactions, and management, so as to revolutionize and become a leader in the digital transformation of the industry.
“Donating without constraints” is HyperDAO’s goal and vision. The platform incorporates cross-chain bridges for interoperability, which aids in promoting decentralization in the charity industry. Since the launch of HyperDAO’s charity protocol, more than 20 organizations have applied to join and HyperDAO will carefully review the validity of these organizations. Everyone is welcome to join and work together with HyperDAO to write a new chapter of the future.
Code is Law
Blockchain promotes financial inclusion and social justice, and HyperDAO hopes to build a blockchain-based charity protocol that increases trust for charitable causes through the principle of “code is law”. HyperDAO hopes to stimulate the institutionalization and standardization of public welfare, incentivize donors to participate in charitable initiatives, and promote the sustainable and healthy development of the charity industry. The team believes that maintaining the sanctity of charity and restoring people’s trust in the charity industry will be a major breakthrough in the field.
In the future, as HyperDAO’s charity protocol continues to grow, it will a force to be reckoned with in the sector. 2022 looks sets to be the year for HyperDAO, and the team has expressed commitment to working closely with its community users to make a difference!