HDAO Liquidity Pool Now Live on Balancer
IMPORTANT REMINDER: you will need to have your tokens in the same address you used to claim the 20% bonus from the auction. We are hoping to release it very soon. If you provide liquidity you will need to withdraw it to claim the rewards.
HumanDAO has established a HDAO Liquidity Pool on the Balancer DEX on the Polygon network. This action incentivizes liquidity for the $HDAO token and gives supporters who missed out on the recent liquidity bootstrapping pool held on Copper an opportunity to participate. Polygon is a popular Ethereum Layer 2 due to its low fees and fast-growing ecosystem. Lowering trading fees to near-zero aligns with HumanDAO’s mission to make crypto accessible to everyone.
Here is the link https://polygon.balancer.fi/#/pool/0xb53f4e2f1e7a1b8b9d09d2f2739ac6753f5ba5cb000200000000000000000137
Low Float, Big Upside
At the time of this writing, the circulating supply of HDAO is less than 30M tokens (approximately 27M). To put that into context, that is less than 3% of tokens in circulation (read more about Tokenomics here to understand our decade long distribution plan). As we outlined in this post, there was a Token Generation Event that unlocked 20M tokens across the Builder, Advisor, and Founder allotments. However, only 6.05M of those were actually delegated. The remaining 13.95M tokens have already been sent to the humanDAO Multisig.
This is an ambitious project. Our war-chest of non-delegated tokens will allow us to attract builders and advisors for years to come. Our goal is to positively impact communities and provide revenue to our token holders over the long-term. This long-term vision is why we structured our launch the way we did, with an eye on generating enough funds for today’s operations, but keeping enough powder dry to address new challenges and welcoming new partners as our opportunities expand.
In addition, 55% of the 1B tokens are allocated to the community and there was a 10% TGE, which means 55M were unlocked. All 55M tokens have already been sent directly to the Multisig and the community will decide how to use them for:
Acquisition
Education
Retention
Growth
DAO Contributors
Staking/Liquidity & Launch Rewards
Because much of our long-term infrastructure won’t be needed or built for some time, for example the bulk of our future education modules, we don’t foresee this total amount being used up in the first year, so the community may decide to increase the rewards for current token holders through staking or other liquidity programs.
Finally, only 41% of the 50M tokens (20,757,911) that were available to the public in our Copper LBP were sold. The remaining 59% (29,242,089) have already been sent to the humanDAO Multisig. In addition, all funds raised from the LBP (including fees) have been sent to the Multisig (minus legal fees and a small portion set aside to onboard the next 100 scholars). As a reminder the Multisig is comprised of @Chris2pherChase, @Mona_El_Isa, @DeFi_Dad, @Abv_Avg_Joe, @r_ross_campbell
About the HDAO Liquidity Pool
To bootstrap initial liquidity HumanDAO has planned an HDAO/WETH pool. We chose this pairing due to the correlation of two crypto native assets and less impermanent loss. We may add another pool (USDC) after running polls in our Discord server and Twitter.
Why is this important
Liquidity provides easy entrance and exit ramps for existing and prospective token holders, giving new members the ability to properly size their investment and existing token holders the peace of mind that they can exit the investment at any time. Liquidity pools incentivize users to offer liquidity in much the same way a seller and buyer match in an order book on a traditional exchange. This will provide a robust, decentralized solution to adding liquidity and is critical in unlocking HDAO’s growth.
Why Balancer 80/20
You can read more on the 80/20 standard for incentivizing continuous token liquidity in Balancers post here. Here is the TL;DR:
A token needs a liquid market for it to thrive long-term
Balancer 80/20 pools attract liquidity both from token holders who value long exposure and from typical LPs seeking to generate passive fees and incentives
Dynamic fees and dual liquidity mining distributions are among several tools for further incentivizing liquidity on Balancer V2
Bridge Assets to Polygon
We recommend using the bridge provided by Polygon: Polygon Bridge
Here is an FAQ: How to use Polygon Bridge
Wen 20% Bonus Claim
Everyone that participated in HumanDAO’s Fair Launch LBP auction on Ethereum and Polygon are now eligible to claim their 20% bonus. Only those addresses that purchased $HDAO tokens during the auction will be able to claim bonus rewards and they must still be holding $HDAO tokens in the same wallet address that they used during the original token purchase to be eligible (our smart contracts will check this). The humanDAO token claim website will go live within the next 5 days and you can begin claiming your rewards.
Wen Staking / Liquidity Rewards
Soon. Sometime within the next 7–10 days. We want to rollout the auction bonus rewards program first. We are also aiming for triple digit APY for those providing liquidity and locking their tokens. Stay tuned for more info on the rewards front.
About HumanDAO
At humanDAO we are setting out to create a public good. Our mission is purposefully broad, and yet very clear: improve lives through crypto. Over 2 billion people in underserved communities live on less than $5/day. humanDAO is creating opportunities in crypto for those underserved communities to earn 2–10x that. All while creating profound, new revenue streams for our community and investors.
Website: https://humandao.org/
Community: https://discord.gg/humandao
Twitter: https://twitter.com/humandao