Cryptocurrencies seem to be in a bull market this year, and DeFi (decentralized finance) has taken the lead in this. It is not uncommon to hear of DeFi projects that have grown by a hundred to a thousand times, and such a momentum is still ongoing.
DeFi infrastructures have matured sufficiently for new projects to raise much-needed funds through new DeFi protocols. This method is called an Initial DEX Offering (IDO). Compared to ICOs and IEOs, IDOs can be seen as a comprehensive improvement in every measure, and its advantages have been recognized by an increasing number of investors and projects.
These advantages include: openness and transparency, fast transaction speed, high liquidity, and decentralization. At the same time, investors can have direct control over their own assets, and projects can quickly launch their tokens on the secondary market after their IDO ends.
In its earliest iteration, HyperDAO (HDAO) operated as a one-stop crowdfunding platform, providing investors and projects with customizable, secure, and decentralized financial services. The platform’s professionalism and stellar performance has been recognized by users on many occasions. The official launch of HDAO’s IDO launchpad marks the birth of a completely decentralized crowdfunding platform and the many advantages that the IDO launchpad possess have also prompted more projects to apply for an IDO through HDAO.
HDAO’s new IDO platform is dedicated to providing projects with the necessary support it needs to conduct an IDO, and the platform pledges to deliver these services at the lowest rates in the market. At the same time, the platform will ensure that due diligence is done on each project, and every project must provide a security deposit before an IDO. This is done to guarantee the trustworthiness of each project to protect the interests of users. Other advantages include:
1. No rug pulls: investors’ funds will be stored in a custodial wallet. These funds will only be released to the project team after their investors have voted to do so through a DAO;
2. Quality assurance: The platform will conduct a full range of due diligence on the technical capabilities, operational efficiency, and credibility of the team for all new projects.
3. Fairness and equity: The implementation of a tiered system to ensure that investors on all levels can get an equal allocation.
4. Transparency: Transparency is of the highest priority for every new project, which must store its funds in a third-party custodian that can be easily traceable on the blockchain network.
As of now, HDAO has received IDO applications from 18 projects around the world, and HDAO will conduct a full range of due diligence measures next as a follow-up on these applications. Every project selected by HDAO must meet a strict list of criteria to proceed. HDAO’s vision is to build a bridge connecting quality projects and investors and the team seeks to continue to provide a transparent, fast, and sustainable IDO platform, establish measures to protect investors, and provide the necessary support to allow new projects to flourish within the cryptocurrency market.
HDAO has been consistently building up its ecosystem, and has recently announced a strategic partnership with NFT platform Dropgen to promote the development of the NFT sector. Right now, HDAO has launched a campaign with football dead punks (a subsidiary of Dropgen) to gift 10 NFTs to 10 lucky supporters. For more information on participating in this campaign, please follow HDAO’s social media channels to get the latest updates.