Communities are centre of value creation in the internet economy. If you take community platforms such as Reddit, and Discord, they have amassed the large number of users and uniting them to common causes. The problem that exists in the current communities is that communities have to be based on centralised platforms that are governed by arbitrary rules. Communities themselves also earn no rewards for moderating and growing them.
This holds true for value creation in the NFT space. As highlighted by Forbes “”If you think about it, both the DAO concept and utility NFTs have a common thread — community. If the trajectory of an NFT project is largely directed by the people the project is supported by, nurturing that community is exactly how you get ahead in the NFT space.””
However, existing NFT platforms and marketplaces, provide little to no support for creators to build their community or more importantly, provide incentive/value/rewards for the community that takes part in the value creation process of NFTs.
To setup such a system, a team has to come together with time and initial capital. To reward these stakeholders, a DAO can be setup in which all stakeholders has HyperDAO tokens. HyperGlade company which employees the team holds 100% of the tokens initially. Every Quarter – there would be a mint of HyperDAO tokens in which Investors can purchase. The proceeds of this Token sale would be utilized for daily operations of HyperGlade.
- Belongs to Hyperglade PTE. LTD, and stakeholders.
- HyperDAO is governed by HyperDAO tokens.
- Contains a separate wallet.
- HyperDAO wallet contains HPT coming to HyperDAO for tranactions inside the platform (2% sale value).
- HPT is stored in it.
- Can be traded in liquidity pools when required.
- HyperDAO creates ComDAOs when the proposal is approved.
- Community leads pay the Inception Fee(IF) for creating the ComDAO in HPT.
- HyperDAO stores the IF HPT in the wallet.
- HyperDAO will burn the IF amount when required by sending to the Treasury.
- When burned, HPT valuation rises due to reduction of circulation.
- HyperTreasury provides a floor value for the HPT.
Use cases of HyperDAO Token
- Governance of Hyper Ecosystem.
- Funding the development of the Hyper Ecosystem.
HyperAvatar is the stepping stone in creating the HyperDAO marketplace.