HUDAO has the opportunity to be a part of a16z’s open-source delegate program! See this link for more info.
Below are some quick summaries of the DAOs and protocols a16z is a part of. I’ve also linked their longer summaries, their white papers, and information on governance if you want learn more. Please read through the provided information and vote for the ones that are more interesting and relevant to you!
<aside> <img src="https://s3-us-west-2.amazonaws.com/secure.notion-static.com/d4c9e4b2-e13a-4de2-95b2-6340cb8db2ea/Compound.png" alt="https://s3-us-west-2.amazonaws.com/secure.notion-static.com/d4c9e4b2-e13a-4de2-95b2-6340cb8db2ea/Compound.png" width="40px" /> **Compound:**
Compound is an EVM application for borrowing and lending. Users deposit their assets into lending pools for other other users to borrow. In return, assets in lending pools earn interest. In return for the deposited assets, users receive **cTokens** that represent their deposit. Users can deposit various types of assets such as ETH, DAI, USDT and more. They then receive cTokens cETH, cDAI, or cUSDT respectively.
Why do people use Compound?
Compound allows you to earn interest on the cryptocurrency you save.
What would HUDAO do?
HUDAO will have the opportunity to vote on changes to optimize and regulate compound’s protocol via $COMP governance tokens.
For more info:
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<aside> <img src="https://lh3.googleusercontent.com/BVVhdCCmmFqx3Nr90C-FQ7EhufnOBB_ovDO-hawXMGML6_5KiH-dUZdii2uh6Dq0cmSjl7N1U4GQJVFkEjr4dt94Bg=w289" alt="https://lh3.googleusercontent.com/BVVhdCCmmFqx3Nr90C-FQ7EhufnOBB_ovDO-hawXMGML6_5KiH-dUZdii2uh6Dq0cmSjl7N1U4GQJVFkEjr4dt94Bg=w289" width="40px" /> **Uniswap:**
Uniswap is a crypto exchange on the Ethereum blockchain. It serves as a truly decentralized exchange, as opposed to centralized exchanges like Binance or Coinbase. Uniswap uses a trading model called an automated liquidity protocol. This works with a user funded trading pools. Users can put assets in a trading pool, and in return receive tokens that represent their share of that pool. When users withdraw their assets from the pool, they are rewarded with their share of the trading fees that the pool incurred.
Why do people use Uniswap?
As stated earlier, Uniswap is truly decentralized. With Uniswap, users can skip the centralized middle-man that is often necessary for trading. Also, with trading pools, users can earn money with the crypto they save via transaction fees
What would HUDAO do?
HUDAO will have the opportunity to vote on changes to the platform with Uniswap’s native $UNI token. This includes voting on how UNI tokens should be distributed how transaction fees should be structured, and more.
For more info:
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<aside> <img src="https://thedefiant.io/wp-content/webpc-passthru.php?src=https://thedefiant.io/wp-content/uploads/2021/02/makerdao.png&nocache=1" alt="https://thedefiant.io/wp-content/webpc-passthru.php?src=https://thedefiant.io/wp-content/uploads/2021/02/makerdao.png&nocache=1" width="40px" /> MakerDAO:
MakerDAO is a decentralized organization built on the Ethereum blockchain focused on Defi, specifically borrowing and lending of assets with no middle man. They are the DAO behind the DAI stablecoin and MKR governance token. MakerDAO’s exchange works with ETH collateral in exchange for a DAI loan. See the video below for a simple explanation:
https://www.youtube.com/watch?v=J9q8hkyy8oM
Why do people use MakerDAO’s services?
Like the video above explained, DAI’s price is constantly regulated so it (should) always be worth 1 USD. This encourages merchants to accept DAI payments because it is not nearly as volatile as other cryptocurrencies. MakerDAO has created a fast, borderless, open-source currency that encourages use instead of holding.
What would HUDAO do?
HUDAO will have the opportunity to vote on MakerDAO’s changes and upgrades. This is done via the $MKR governance token. See their governance forum of some examples of these decisions.
For more info:
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<aside> <img src="https://pbs.twimg.com/profile_images/1484971133245919233/Ou9Fi_5a_400x400.png" alt="https://pbs.twimg.com/profile_images/1484971133245919233/Ou9Fi_5a_400x400.png" width="40px" /> Fei Protocol:
Fei protocol’s goal is to create an entirely decentralized, scalable stablecoin. This mean solving the centralization problems of fiat-collateralized coins like tether, and scalibility issues of coins like DAI. Fei uses a PCV (protocol controlled value) system to add coins to the system. This helps to keep the value right around 1 usd, and prevents large fluctuations that would encourage trading for profit.
Why do people use Fei?
Fei offers users guaranteed liquidity. Because the protocol itself owns the collateral, it is free from threats like crypto whales. Fei is also completed decentralized, with its TRIBE governance token that allows holders to vote on actions of the protocol.
What would HUDAO do?
HUDAO will have the opportunity to vote on Fei protocol’s changes and upgrades. This is done via the $TRIBE governance token. See these snapshots for some examples.
For more info:
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<aside> <img src="https://s2.coinmarketcap.com/static/img/coins/200x200/11156.png" alt="https://s2.coinmarketcap.com/static/img/coins/200x200/11156.png" width="40px" /> dYdX:
dYdX is a leading decentralized exchange that currently supports perpetual trading. dYdX runs on smart contracts on the Ethereum blockchain, and allows users to trade with no intermediaries.
Why do people use dYdX?
While it offers similar services to previously mentioned decentralized exchanges, dYdX is “fast, seamless, inexpensive to use, and feels just like trading on a centralized exchange like Binance.”
What would HUDAO do?
HUDAO will have the opportunity to vote on dYdX’s protocol’s changes and upgrades. This is done via the $DYDX governance token. See some examples here.
For more info:
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<aside> <img src="https://pbs.twimg.com/profile_images/1375150922448388104/92XxGmmy_400x400.jpg" alt="https://pbs.twimg.com/profile_images/1375150922448388104/92XxGmmy_400x400.jpg" width="40px" /> Element Finance:
Element Finance is the developer of a crypto asset trading platform that utilizes a fixed rate protocol. Users lock of their asses with Element Finance’s smart contracts, and choose the terms of their deposit. This allows for a fixed yield for each deposit/investment.
Why use Element Finance?
Element Finance allows you to invest your crypto with low-risk. We see how volatile the hot cryptocurrencies can be, which is encouraging to some and frightening to others. Element allow your to simply deposit your assets, and choose the terms of that investment.
What would HUDAO do?
HUDAO will have the opportunity to vote on Element Finance’s changes and upgrades. We would be a subset of a larger group on the GSC (governance steering council).
For more info:
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