⭐️ HyperDAO ⭐️ 🔥 Decentralized Financial Services Ecosystem 🔥

[Elsop]

What are the requirements to become a supernode?

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[1714063927]

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[HyperDAO Official]

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.

[Commadante2]

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.

[HyperDAO Official]

[XEFUZ]

Thanks for weekly report.

[HyperDAO Official]

[HyperDAO Official]

[HyperDAO Official]

[Albam Jorden]

Do you have a newsletter where you show a monthly or a biweekly progress report?

[Cryptoenthusbusa]

Would you require a KYC? I believe that KYC is somehow a form of censorship. Many of us not living in the Western countries really find great difficulties when we try to access the Western financial system. The KFC automatically creates an impeding web of censorship among the people (specially non Westerns) that need the most scape the unfairness of centralization and the conditions and restrictions imposed by our governments. After all the intention of BTC originally was to be decentralized and stay as far away as possible of the oversight of governments.

[Spaceshuttle987]

Even though I know that DAO is decentralized stable coin, I am imagining a hypothetical case in which the dollar or the euro could collapse due to a major recession just like it has happened with the currencies of countries like Venezuela or Zimbabwe.

[Uikjuysd]

Decentralized Financial Services Ecosystem.

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WEBSITE | WHITEPAPER | TWITTER  | MEDIUM  | FACEBOOK  | REDDIT  | WEIBO  |

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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.

               

WEBSITE | WHITEPAPER | TWITTER  | MEDIUM  | FACEBOOK  | REDDIT  | WEIBO  |

What is the point of collateralizing my ETH to get only 2/3 of its current value when I can just wait for it to double its price or even be worth 1000 USD?

[Oxherder]

How do I know I will not be liquidated when doing leveraging?

[HyperDAO Official]

Even though I know that DAO is decentralized stable coin, I am imagining a hypothetical case in which the dollar or the euro could collapse due to a major recession just like it has happened with the currencies of countries like Venezuela or Zimbabwe.

Nothing will happen. Most likely DAO will be peg to another form of currency, like BTC, Silver or Gold. But that is very unlikely to happen.

[HyperDAO Official]

What is the point of collateralizing my ETH to get only 2/3 of its current value when I can just wait for it to double its price or even be worth 1000 USD?
[/quote]This is more less how it works. As today the price of ETH is approximately $150, if you collaterise 1 ETH you will get the equivalent to $100 HyperDAO. With that amount you could buy 2/3 of ETH or 0.66 ETH. If market conditions are good, and in the future your ETH is worth 1000 USD, you will be the happy owner of the equivalent to $1600 USD, but you will have to return only $150 USD. Take into account that you may need to over-collaterise in case the market present corrections which may liquidated your collaterals. This is known as leveraging.

[HyperDAO Official]

How do I know I will not be liquidated when doing leveraging?

There is always a risk to be liquidated, that is why it is important to choose good entry points based on serious analysis and understanding of the market.

[Rudibert]

USA’s Federal Agencies like FinCEN view all stablecoins as falling under their remit. Under their “technical neutral” stand point, they feel entitled to regulate such currencies: “It does not matter if the stablecoin is backed by a currency, a commodity, or even an algorithm – the rules are the same,”. They may try to enforce KYC.  The whole purpose of DeFi is to create a decentralized economy that can bypass the regulations of these centralized agencies. I am wondering if they will be able to catch up with technological innovation.

[Vienure]

I am quoting Carvalho when he says “Governance doesn’t belong on a blockchain. You want as little governance as possible to be baked in. The more governance you have baked in, the more susceptible it is to being a predatory or being basically an attack factor.” Since governance is part of HyperDAO I am wondering if this could be an obstacle to create a really decentralized currency?

[Amsdreat.Crypto]

I am convinced that stable coins are here to stay. We have witnessed the rise of stable coins peg on the USD dollar, which unfortunately just extended the problem of centralization into crypto. But now we are seeing even more sophisticated stable coins like MakerDao and of course HyperDAO where the stable value is determined by algorithms. And even though they are less volatile than any other cryptocurrency, I am still very surprised that our reference is still a fiat currency that has lost 95% of its value since 1913. That it is, we are still using as reference a form of currency that is slowly bleeding to death, since all forms of currency eventually become extinct. Right now I am just trying to wonder what would be the next step once we transcend the USD even as a form of reference.

[fukajiyus.sa]

. If a created a CDC in order to generate some Hyper-Fiat say collaterising 1 BTC approx. 7500 USD (or maybe a little less) to get 5000 Hyper-USD. Planning to use this money for any business you can imagine, then the price of BTC crashes to 5000. That means I have to somehow to compensate for the missing 2,500 USD with more BTC to prevent my CDC from being liquidated?