HashDAO plans to release tokens to its community and explore the possibility of selling tokens to high-profile strategic partners.
HashDAO Finance launches on Arbitrum
HashDAO Finance has launched on Arbitrum trading pairs BTC/USD, ETH/USD, ARB/USD and GMX/USD with up to 50x leverage.
The protocol uses self-executing smart contracts to provide continuous access to programmatic pools of liquidity that can be used to hedge token positions by a variety of digital asset owners with little or no impact on spot markets.
For traders looking to protect their profits, it offers a capital-efficient hedge with near-zero market impact. Additionally, it creates a high-yield tool for crypto investors to generate passive income.
“Using only 1/50th the collateral required to take comparable positions on traditional AMMs, we offer near-zero friction access to WBTC, WETH, ARB, stablecoins, and other highly liquid tokens,” HashDAO explained.
HashDAO issues two types of tokens: HASH, the utility token, and veHASH. By staking HASH, one can obtain veHASH, which serves as a yield booster.
Tokens allocated to the team will be blocked for three years. There will be a linear vesting schedule for these tokens that cannot be unstaked until the schedule is met.
Also, the HashDAO team is exploring the possibility of selling HASH to high profile strategic partners. A strategic investor allocation has been reserved for external contributors. Funds from the sale will go to HASH DAO’s Treasury Department, as reported.
The HashDAO also plans to send tokens to its community, with more details to be released soon.
The growing Arbitrum ecosystem
Arbitrum’s DeFi ecosystem is growing rapidly, and new protocols are bringing innovative solutions to the network. Additionally, on March 23, Arbitrum launched its token $ARB with an airdrop to its loyal community members.
Backlash later erupted when the Arbitrum Foundation began selling $ARB tokens for stablecoins ahead of community approval.
In response to negative feedback on its original governance proposal, the Arbitrum Foundation has presented two new proposals with significant changes.
As part of the new proposals, the foundation will be subject to significant spending restrictions, including smart contract lockups, and will seek to lower the proposal threshold from 5,000,000 tokens to 1,000,000.
Arbitrum ($ARB) has a market cap of $1.481 billion and is trading at $1.16, down 2.15% in 24 hours.
What is HashDAO Finance:
HashDAO is a decentralized and non-custodial perpetual DEX on Arbitrum focused on providing highly effective risk management and a unique liquidity solution for LPs by using original code written from scratch.
Learn more about HashDAO Finance:
Website | Documents | Twitter | discord
What is arbitration:
Arbitrum is an Ethereum Layer 2 network that allows developers to create and deploy highly scalable smart contracts at low cost. The Arbitrum chain will allow developers to use Web3 apps, deploy smart contracts, etc., but transactions will be cheaper and faster. The team’s flagship product, Arbitrum Rollup, is an optimistic rollup protocol that inherits Ethereum-level security.
Learn more about Arbitrum:
Website | Documents | Twitter | to blog
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