Web3.0 represents a new trend in the future development of the Internet, involving decentralization and giving users actual control over data and information. Under the promotion of the Web3.0 wave, the media, market, and marketing ecology will inevitably undergo a deterministic revolution, changing the rules of the game and restructuring a new pattern. As an important part of WEB3, decentralized organizations (DAOs) are attracting more attention. Its emergence has redefined the decision-making process of organizations and given equal rights to DAO members, enabling individuals to achieve autonomy in entertainment, finance, education, and other areas without relying on centralized organizations, institutions, or enterprises.
HTD was born in such an environment. HTD is a community governance token based on blockchain technology, and its purpose is to achieve community autonomy and democratization through a decentralized governance model. The main goal of the project is to provide a platform for community members to participate in decision-making and management, enabling them to directly participate in the development and progress of the project. Community members can influence the direction of the project's development by participating in the governance process, including voting decisions, proposing and discussing suggestions, reviewing and electing community proposals, etc. Their voting weight depends on the number of tokens they hold. The governance model is decentralized, which means that community members are equal participants, and they can jointly formulate rules and management strategies. This governance model can ensure the transparency, fairness, and democracy of the project, thereby enhancing the trust and participation of community members.
The HTD community was initiated in 2019 and has gradually grown over time. It has been operating for three years and now has over five million members. The founding team members of the community discussed and formulated the governance model and rules of the HTD project, making it a truly global DAO community autonomy project. Today, with over 5 million members, the project will be officially launched on April 12th.
In the past few years, the rise of DAOs has been like a grand movement, each with its own charm in different application scenarios. According to the DAO Racetrack Research Report released by BIhu Capital, as of December 30, 2021, a total of 188 DAOs manage assets of over 11.5 billion US dollars and nearly 2 million members. In this article, we will start from the early practice of DAOs and examine their diverse use cases in various fields one by one.
Figure 1 DAO市场现状，source: deepdao.io
Figure 2 GoogleTrends of “去中心化自治组织”
The HTD technology is based on blockchain technology and mainly includes components such as smart contracts, decentralized applications, and distributed databases. It uses smart contract code to implement token issuance, governance processes, and various transactions. The decentralized application is the main platform for HTD community members to participate in project governance, providing functions such as voting, proposing, and discussing, allowing members to directly participate in the project's governance process. HTD's decentralized application adopts Web3.js and React.js technology and is deployed on IPFS (InterPlanetary File System), which enables distributed data storage and transmission, improving the stability and security of the system. The distributed database is the data storage foundation of the HTD project, adopting distributed database technology, distributing data on multiple nodes, and avoiding the risk of single-point failure and data loss. HTD's distributed database adopts MongoDB and IPFS technologies, providing the project with high availability and efficiency.
The competitive advantages of the HTD project are as follows:
- Dynamic weighted reward: The HTD project distributes 10% of GDS rewards every day to users who are dynamically ranked in the top 50 weighted points and another 10% to users who are dynamically ranked from 51st to 500th in weighted points. This helps to
- Referral Reward: The HTD project also has a referral mechanism where users can earn rewards by introducing the project to others. The specific amount and allocation of referral rewards can be adjusted based on the project's development and governance decisions.
New User Compensation Mechanism: The HTD project has a new user compensation mechanism where, based on a daily output of 1%, it increases by 0.1% each day and is distributed to new partners who join that day. This allows new users to receive rewards and avoids unfair treatment based on their entry time.
- LP Mining Rewards: The HTD project has established an LP mining reward mechanism, where users holding HTD tokens and adding them to the LP pool can receive GDS rewards. This encourages users to participate in providing liquidity and the most active trading for the project.
- Community Economy: The HTD project can establish its own ecosystem by encouraging developers and service providers to participate and provide various useful applications and services to the community.
- HTD Governance Model: Community participation, democratic decision-making, and transparent governance aimed at providing users with secure, efficient, and fair financial services. To achieve this goal, HTD adopts an open, democratic governance model that allows community members to freely participate in project decision-making and governance. The HTD governance model includes the following aspects:
- Proposal: Anyone holding HTD tokens can submit proposals regarding project development, technological improvements, governance mechanisms, etc. Community members can submit proposals on the HTD website or social media and wait for other community members to vote within the specified time. Proposals will be recorded on the HTD blockchain to ensure transparency and immutability.
- Voting: HTD token holders can vote to support or oppose proposals, and the voting results will be the basis for project decision-making. Each HTD token will have one vote. Community members can vote on the HTD website or social media to ensure fairness and transparency in the voting process.
- Rewards: To encourage community members to participate in governance, HTD will provide rewards to those who submit proposals and participate in voting. The specific form and amount of rewards will depend on the specific situation but will typically be in the form of HTD tokens. This will incentivize community members to actively participate in governance and promote the project's healthy development.
- Management Committee: To ensure the smooth governance of the project, HTD will establish a management committee. The management committee will be composed of community members elected through voting and will be responsible for developing project development plans, governance mechanisms, and monitoring project execution. Management committee members will be obligated to ensure fairness and transparency in the governance process and ensure that the interests of community members are fully protected.
In summary, the HTD governance model makes project development and governance more open, fair, and transparent. We welcome more community members to participate in HTD governance and work together to promote the project's development and growth.
HTD OFFICIAL LINKS
Twitter：https://twitter.com/HTD_Web3
Telegram Chinese：https://t.me/sqhtdao