$HYPEN Token
The $HYPEN token is mainly an utility token used in the HyperNest ecosystems
to pay for services.
E.g. a startup can pay for a smart contract audit with $HYPEN.
What’s On This Page:
Governance Currency
Every actor that wants to participate in the governance of the DAO must have a “Reputation,” and the only way to build it up is by being paid in HyperNest Native tokens. Reputation is necessary within the colony to support Motions (proposals). The Reputation determines the voting power.
Benefits for Holders
The startups which are taking part in the accelerator will hold $HYPEN tokens. Therefore, they have an interest in the token utility and the broader success of it. For this reason, the startups will grant exclusive benefits to the $HYPEN holders.
E.g. A better APY for farming in a DEFI Dapp.
Value of Our token
The utility as a currency of the ecosystem
Many service providers don’t accept payments in crypto and are even more reluctant to accept payment in the native currency of early-stage startups. However, our partners trust HyperNest, and they are open to receiving its currency.
In other words, we receive the native currency of startups and give them back a token that has great utility in our ecosystem. We provide liquidity for buying startup services without the need for the startups to sell their tokens.
The Decision making in the DAO
Some actors might be interested in influencing some decisions of the DAO e.g. A Layer 1 protocol might want the DAO to onboard one startup because the company wants to deploy its valuable Dapp on that chain. In this situation, the protocol has an interest in voting for the acceptance of that startup.
The value of our Operation treasury and Native token treasury
We will hold cryptocurrency and our native token in two separate treasuries. The DAO uses the operation treasury to finance our daily and monthly operations.
Our Native token treasury will hold the $HYPEN tokens that will be used for fundraising and investments.
The value of our Portfolio treasury
The portfolio treasury is going to be composed by:
- Startups tokens (at least 70%)
- Reserve currencies
- Stable coins
To access our DAO, every startup deposits part of their tokens in our portfolio treasury and receives an investment in our token. All the startups token will be locked in our portfolio treasury.
We hold reserve currencies like BTC, ETH, and AVAX to increase the stability of the token’s value.
A part of the treasury is kept in stablecoin. The DAO will use this reserve to buy back and eventually burn our tokens if it trades below our computed fair market price in situations of extreme market swings.
Token Allocation
35% Startups Investment
20% Team
15% Fundraising
10% Partners
5% Contributors
5% Marketing
5% Foundation
We are planning to allocate the majority of our tokens to invest in Web 3.0 startups.
We reserved 5% of the total allocation for a foundation that would decide how to distribute this amount. The possible usage of those tokens would be:
- Liquidity in CEXes and DEXes
- Fundraising or token sales to backup the treasury portfolio
- Operation expansions
- Strategic partnerships
We believe that the rest of the allocation is pretty straightforward in its interpretation.
Our intention is to reward the team, the partners and the contributors that daily strive for the success of our portfolio companies.