What is HyperDAO? HyperDAO is a decentralized DAO managed Blockchain project with the theme of charity and donations. In this article, you can find answers to frequently asked questions from investors such as what HyperDAO is, what it offers, what is HDAO and how to get it. As Kriptokoin.com, we have prepared it for our curious readers. Let’s examine the project together.
What is DAO?
Before we start reviewing the HyperDAO project, we need to explain the DAO. DAO, which stands for Decentralized Autonomous Organization, is among the hottest Blockchain trends of 2022. The majority of web3, NFT and altcoin projects have a DAO today. This is why Messari predicts DAOs will be the dominant trend in 2022. Basically, a DAO is a community of people working together on new projects or investments through a decentralized model. Such organizations do not have a manager or leader, that is, they are decentralized. Anyone who meets certain conditions is eligible to participate in the DAO and takes part in the management of the platform.
What is HyperDAO?
The global pandemic still continues. Due to the war between Russia and Ukraine, more and more people around the world are negatively affected and remain in poverty. In addition, hunger and natural disasters are increasing worldwide due to climate change. HyperDAO is a Blockchain project that comes into play at this point. The project uses the DAO model to help those in need and make the world a better place. Thus, it aims to help people in an open, transparent and decentralized way. It aims to achieve this by bringing together all philanthropists around the world in a single DAO. In addition, the project; It runs on Ethereum, Polygon, and Binance Chain networks and hosts a native cryptocurrency called HDAO.
What does HyperDAO offer?
HyperDAO aims to make the donation process efficient and free from political interference. It does this thanks to the DAO. All donation details on the platform are posted online. Funds are moved in a traceable manner and any decision is put to the vote of the community. After a donation is made, HyperDAO publishes the usage and expense breakdown of its funds. Users can donate to the institutions with which agreements are made through the platform. Donors are selected by the DAO. However, not all voting rights are equal in the DAO. At this point, HDAO coin comes into play.
What is HDAO coin? What does it do?
HDAO coin is basically an Ethereum-based cryptocurrency. However, versions are also available on the Polygon and Binance Chain networks. HDAO works as the native cryptocurrency of the HyperDAO platform. HDAO holders can stake their assets. Staking means that tokens are locked into smart contracts with a certain maturity. Users who lock their HDAO will earn additional token rewards at maturity. Thus, they earn passive income.
To participate in HyperDAO’s DAO, you must be a HDAO owner and stake your tokens. So you can participate in the decentralized management of the platform. However, not every user is equal. The more HDAO you stake, the more say you have in the management. So the importance of your vote depends on the HDAO you stake.
What is HyperDAO? How to take HDAO?
HyperDAO was a DeFi-focused project when it launched in 2020. However, over time, he reinvented himself by turning to the field of aid and donations. All in all, it’s a fairly new project. Therefore, it is not traded on exchanges like Binance and Coinbase. There are two exchanges where you can buy HDAO. These; OKX and BitGlobal. If you are interested in the project, you should become a member of one of these exchanges and verify your account. Then you should deposit an asset in your wallet that is compatible with HDAO parities. After doing these, you can buy varying amounts of tokens based on your balance.
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