In-depth analysis of HECO chain decentralized stable coin giant HaykerDAO value prospects

In-depth analysis of HECO chain decentralized stable coin giant HaykerDAO value prospects

Moderator: First of all, can you please start by briefly introducing the HaykerDAO project?

Alkhwarizmi: HaykerDAO is a decentralized autonomous organization (DAO) governing the on-chain stablecoin protocol Hayker. The HaykerDAO protocol uses various collateral types approved by the DAO to securely and fairly mint HAIs (native stablecoins) and maintain full collateralization of all stablecoin loans issued to users through the protocol.

The HaykerDAO protocol, also known as a multi-collateral system, is derived from the MakerDAO fork. Our native stablecoin is HAI, a decentralized, unbiased, collateral-backed, USD-pegged stablecoin. Due to its low volatility, HAI is able to withstand hyperinflation and provide economic freedom and opportunity for anyone. the HaykerDAO governance system dictates that users can provide assets as collateral for minting HAI, which means that our protocol is organized and operated by the community.

Simply put HaykerDAO is.

A platform that pledges crypto assets to generate 1:1 anchored USD HAIs;

A safe and secure lending protocol;

A stable coin tool that everyone can use.

We can simply understand that it is the “MakerDAO” on HECO.

Moderator: So what can users do with HAI? Can you give us a brief introduction to the token mechanism and features of the stablecoin HAI?

Alkhwarizmi: Trading: HAI is a smarter digital currency that can be bought, sold and managed.

Deposit and Interest: Deposit with a single click and enjoy interest as you go

Other Scenarios: HAI’s low volatility is hyperinflation resistant, providing economic freedom and opportunity for anyone, anywhere

HAI is the first decentralized stablecoin on the Firecoin Ecosystem Chain (HECO), developed and managed by HaykerDAO, an infrastructure for decentralized finance (DeFi). HAI is issued with full collateral security over the assets on the chain and maintains a 1:1 anchor to the US dollar, 1HAI = $1.

HAI Reliable – Closely pegged to the US dollar, HAI has a reliable value and can be freely bought, sold and managed.

HAI Borderless – HAI is global and borderless, and if you can access the Internet, you can access HAI and use it freely.

HAI is smarter – one click to deposit and enjoy the interest as you deposit and withdraw.

Moderator: How much HAI is currently in circulation and what mechanism does HaykerDAO use to ensure the stability of HAI?

Alkhwarizmi: HAI circulation reached 70 million HAI, HAI is fully collateralized

HaykerDAO uses the same clearing mechanism as MakerDAO. When the value of the user’s vault collateral is less than the minimum required collateral rate, anyone can trigger a liquidation operation to liquidate the user’s insufficient assets for profit, while ensuring that the collateral rate of the entire system is stable above the minimum required, and that the value of HAI is stable at $1.

Liquidation and auction reference documents.

Moderator: HaykerDAO is really a decentralized stable coin tool that everyone can use, in addition to the governance coin HKR token mechanism and what is it?

Alkhwarizmi: HKR is the HaykerDAO platform governance token, the total amount of 1,000,000, 0 pre-mining, 0 private placement, fully liquid mining generation.

Mining mined HKR is distributed as follows

15%: used for HaykerDao project maintenance, generated only in parallel with transaction mining.

10%: as early governance coins for project start-up and governance, after the liquidity mining exceeds 50%, the 10% governance coins will be put into the total amount of the mining pool for the community to mine the minerals.

75%: Liquidity mining, liquidity mining will be influenced by the market to decide whether to open mining, the first batch of early liquidity mining will open a month, is expected to produce 10% of the HKR or so.

The first batch of liquidity mining will be opened for one month and is expected to produce about 10% of HKR. What are the yields?

Alkhwarizmi: HaykerDAO liquidity mining was officially opened at 22:30 BST on May 15, 2021, 17 hours after launch pledged funds of over $200 million, the governance token HKR fully liquidity mining generated. The current HaykerDAO opened mining pools and annualized yield (APY) are

LP mining area has opened mining pools and APY rewards as follows.
LP mining APY :from 75%~ 2500%

Single coin mining area APY: from 50% to 50%

Moderator: Okay, so how are HKR tokens created or destroyed and what are the rights of HKR holders?

Alkhwarizmi: HaykerDAO issued 1,000,000 HKR tokens at its inception. Tokens are created and destroyed under different circumstances. When the system surplus exceeds the minimum threshold, HKRs are destroyed, resulting in excess HAIs being auctioned off in exchange for HKRs. Conversely, when the system debt exceeds the maximum threshold, HKRs are created and auctioned off to HAIs to replenish the system’s capital, which is very rare.

HKR holders have the ability to make technical changes to Hayker itself, as well as to approve in-chain decisions on non-technical matters. Whether it’s a change in the parameters of the system or a decision to embrace a new management philosophy, HKR voters have the ultimate control.

Moderator: Finally, let me ask a question that is of great interest to everyone. HaykerDAO liquidity mining has been opened, and the annualized rate of return (APY) of the first mining is quite high, can you share the subsequent development plan and future goals of HaykerDAO?

Alkhwarizmi: HaykerDAO was officially launched on April 26th, 2021 at 20:00 Singapore time, currently the pledged HT/ HBTC/ HUSD/ ETH will get HAI tokens, HKR liquidity mining was opened on May 15th, Dogeswap is now online, and more de-neutralized exchanges will be launched later DEXs.

HaykerDAO is the first borderless and unbiased decentralized stable coin after the set MakerDAO, which has not only become the cornerstone of decentralized finance, but also widely used in fields such as digital art and game payments, and even many people living in inflationary countries use HAI as the preferred means of storing value.

HaykerDAO’s mechanism is not a pie in the sky detached from reality. Our vision is ambitious, but knowing that it must be in line with the laws of the economy and combined with the reality on the ground, we hope to help communities and individuals who do not have access to traditional banking services by reinventing a decentralized stablecoin system.

HaykerDAO info.

Website: https://hkrdao.com/

Twitter: https://twitter.com/HaykerDAO_en

Telegram: https://t.me/HaykerDAO_en

Medium: https://haykerdao-en.medium.com/

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/in-depth-analysis-of-heco-chain-decentralized-stable-coin-giant-haykerdao-value-prospects/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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