HyperDAO is committed to building an efficient, transparent and reliable DeFi (decentralized finance) ecosystem, offering a one-stop financial service platform for global users.

Jayden Wei, the co-founder of HyperDAO.
“I have been involved in the blockchain space for more than 5 years and have invested in over a 100 blockchain projects.”
Jayden joined us to answer CryptoRank community’s questions.

What are you doing now and what are your near-term plans? How did you come up with the idea of running token sale on the OKEx Jumpstart?

We divided the planning of HyperDAO into three phases – short-term, medium-term and long-term or HyperDAO 1.0, 2.0 and 3.0.

1.0 is a 2C (To Client) service, 2.0 is a 2B (To Business) service, and 3.0 will be a 2G (To Government) service. HyperDAO 1.0 is what I have described earlier, a to-client business and encompasses all the eight functions I’ve mentioned earlier. We see HyperDAO 1.0 as the underlying infrastructure, the most important piece that if done well, can develop into a much bigger organisation.

HyperDAO 2.0 is an extension of the infrastructure based on 1.0. The goal of 1.0 is to develop a financial service platform that provides a reliable and seamless user experience, and with that, achieve a strong growth of users. 2.0 will involve bringing in businesses for the management of assets on-chain. These are financial services targeted more at professional institutions and also as a means of connecting retail users with professionals.

HyperDAO 3.0 is the bigger goal. it is a really long term-vision. Friends who are familiar with us should know that we’ve also invested in bank licenses and blockchain special economic zones in the last year. These are still steadily advancing and are not short-term projects. These resources will be the business of HyperDAO 3.0 (or to-government) in the future. For example, government information data can be brought on chain. Governance itself can also be brought on-chain. This of course is a very grand plan that will takes many years to complete. For now, we will focus on 1.0 and develop a strong foundation.

1. HyperDAO will be launching on Okex jumpstart on feb 25. Why does this really matter? How will this impact HyperDAO and it community?

2. Asides AMA, which other activities is HyperDAO engaged in presently that will help incentivize new comers on it potential and benefits?

Hi, thank you for asking. OKEX has been a long term partnership with us, and with their support, HyperDAO community is growing very fast. I think the IEO is the best marketing for HyperDAO, especially it is the first IEO for OKEX in 2020. This is very special. More importantly, we believe once we have real killer app , and starting generate profits, we can benefit all the token holders with our token economy.

What are the benefits that HyperDao receives when using all three common consensus mechanisms today, PoS, PoW, PoV? What are the advantages and disadvantages of these consensus mechanisms?

This is a very good question. we have pretty much reserve for three mechanism. First of all, it is completely new idea of hybrid 3 mechanism, there is nobody else doing it, that is what makes hyperdao different. Secondly, with 3 mechanism, i think all of them are very important. We do have many connections to mining sites, pos mining pools, and POV definitely will drive community to use token more frequently. The disvantange of this is some people may think it is to complicated.

Does blockchain really prevent CENTRALIZATION? Really offer DE-CENTRALIZATION? That is to say, between $300K and $1.2M Tokens Stolen on IOTA network and then IOTA team stopped the network. So how can this be a decentralization? Please shed more light on how can HyperDAO really brings decentralization in the field of finance?

Governance by the community is vital, with HyperDAO token holders having the right to vote on many governance measures. They can even elect representatives, nominate projects or asset managers to be introduced to the system. The HyperDAO Community Nomination Zone, Discussion Forum, Peer to Peer services, Microfinance system and Forecasting system are also fully user-initiated, user-driven. These are all functions unique to HyperDAO.

DeFi is one of the hottest topic in the blockchain space right now. Can you share your opinions on DeFi with us? Do you think that DeFi will disrupt the existing financial system? What is HyperDAO approach towards the DeFi sector?

We believe that DeFi runs on the very forefront of the crypto industry and the reason why it has been gaining so much traction recently is because of the feasibility of DeFi as an alternative to traditional services. I think that if people had an opportunity to get to understand DeFi, they can see that there are a lot of benefits especially in terms of costs savings. However, it’s not easy to disrupt the legacy system that the traditional finance world has built over so many years. It takes time to adopt a new system. Our role then, is to facilitate the bridging of this gap between the traditional industry and the blockchain space. We believe that as more institutional players come in and there’s more interest in the sector, we’ll see more integration and easier access to DeFi, so that’s one aspect that HyperDAO will work towards in the long run.

OKEx Ceo JAY HAO said about HyperDAO “They are bringing great leaps to the industry. We have a lot in common. We believe in DeFi and are trying to develop it, HDAO will provide significant contributions to this.” How do you evaluate these words? Do you think you are closer to your targets when you compare the development of OKEx ecosystem and its contributions to the sector recently?

Yes，HyperDAO is well, a decentralised autonomous organisation (DAO). It is essentially an organisation governed by the community through majority consensus as opposed to a traditional one where there are managers that make decisions on behalf of other stakeholders. This consensus protocol is of course only made possible through blockchain technology where records are immutable and allows for an incentive system that encourages individuals to work collectively towards development of the organisation. So naturally for any DAO, not just HyperDAO to work. OKEx has been a long term partner with us, we will spare no efforts to change the world together with blockchain technology

HyperDAO has one of its products called Hyperpay, while currently there are many different payment companies, what makes it unique and advantageous compared to Dashpay, Coti pay etc ?

Hyperpay has been developed for more than 2 years. Right now it is hybrid wallet has onchain and offchain wallet solution. We pay a lot of attention to that and it supports security of cryptos

How are the plans shaping up for marketing and building a strong, core community which is essential for any project in the crypto industry?

Yes, without community, DAO won’t work. we are still in a very begining stage. But i am more than confident that we can build some revolutionary. Building COmmunity takes time, but our team works very very hard.

I see that HyberDao has 8 main functions: exchange, stablecoin,crowdfund, asset management, banking, forecasting, e-citizenship and microfinance, so could you tell me which function that HyberDAO will focus in as priority? In many countries, government doesn’t approve cryptocurrency or blockchain yet, so how could you convince government for cooperation to build HyberDAo 3.0?

We divided the planning of HyperDAO into three phases – short-term, medium-term and long-term or HyperDAO 1.0, 2.0 and 3.0. 1.0 is a 2C (To Client) service, 2.0 is a 2B (To Business) service, and 3.0 will be a 2G (To Government) service.

HyperDAO 1.0 is what I have described earlier, a to-client business and encompasses all the eight functions I’ve mentioned earlier. We see HyperDAO 1.0 as the underlying infrastructure, the most important piece that if done well, can develop into a much bigger organisation.

HyperDAO 2.0 is an extension of the infrastructure based on 1.0. The goal of 1.0 is to develop a financial service platform that provides a reliable and seamless user experience, and with that, achieve a strong growth of users. 2.0 will involve bringing in businesses for the management of assets on-chain. These are financial services targeted more at professional institutions and also as a means of connecting retail users with professionals.

HyperDAO 3.0 is the bigger goal. We’ve also invested in bank licenses and blockchain special economic zones in the last year. These are still developing. These resources will be the business of HyperDAO 3.0 (or to-government) in the future. For example, government information data can be brought on chain. Governance itself can also be brought on-chain. This of course is a very grand plan that will takes many years to complete. For now, we will focus on 1.0 and develop a strong foundation.

1: There are 3 core issues prevalent in crypto and blockchain: Security, Interoperability, and Scalability. How does HyperDAO plan to overcome these issues?

2: How many partners currently have trusted HyperDAO technology and what benefits do these partners bring to HyperDAO and vice versa?

As we’ve mentioned earlier with the development plan that is HyperDAO 1.0, 2.0 and 3.0, it is clear that HyperDAO is a long-term project. The foundation of course is in 1.0 where we continue to build our infrastructure and develop a reliable and useful service platform. This is with the goal of growing a larger userbase. At the same time, we are already in talks with several institutional money managers that would like to integrate their services into our platform. Our medium-term goal then is to connect our userbase with these institutional players. We see it as a win-win situation for both parties. In the longer term or 3.0, as we’ve mentioned earlier, we have been heavily investing in banking licenses and also a blockchain special economic zone. Our strategy is to get the government involved which will pave the way for us to work closer to the traditional financial platform and be regarded as an alternative to traditional services.

The CryptoRank Team would like to thank Jayden Wei for taking the time to answer questions from our Community.

CryptoRank team warns you that the information provided should not be construed as financial advice. We strongly recommend you to conduct your own research every time before investing in any project. As an investor, you are fully responsible for your actions. No one else can be held responsible for any losses that you may incur.

Website: https://hyperdao.com/
Telegram：https://t.me/HyperDAO
Twitter: https://twitter.com/Hdao_Official