Common questions for token launch starting December 1st at 3pm EST
20% Reward Note: Everyone participating in the LBP on both chains (Ethereum Mainnet and Polygon Network) will receive 20% bonus rewards on their tokens. You will be able to claim these free tokens post launch, unfortunately this cannot be configured into the auction. To claim you will need to use the same address and be holding $HDAO
How do I access the auction?
- To transact on Ethereum Mainnet: Ethereum Mainnet Auction
- To transact on Polygon Network: Polygon Network Auction
When does the auction begin and end?
The auction will start on Wednesday December 1st, 2021 at 15:00 EST (20:00 UTC)
The auction will end on December 6th, 2021 at 12:59 EST (5:59 UTC)
What will be the starting price for HDAO?
The starting price will be around $2.
Is there a reward for participating in the token launch?
Yes! There is a 20% rewards bonus program for participating in the public sale. Ex. If you purchase 100 tokens, you will receive 20 bonus tokens.
When will we be able to claim rewards?
Only the addresses that took place in the auction will be able to claim bonus rewards and must still be holding $HDAO tokens. The exact date of this bonus claim is unknown as we work on the smart contracts, but expect within 2 weeks of the auction ending.
I bought HDAO tokens. How do I see them in my MetaMask wallet?
You’ll need to import the token to your MetaMask wallet using one of the following contract addresses:
- Ethereuem: 0xdac657ffd44a3b9d8aba8749830bf14beb66ff2d
- Polygon: 0x72928d5436Ff65e57F72D5566dCd3BaEDC649A88
I am participating in the auction on the Polygon Network. How do I bridge my assets to Polygon?
We recommend using the bridge provided by Polygon: Polygon Bridge
Here is an FAQ: How to use Polygon Bridge
For more detailed instructions on how to participate on Polygon Network, see our How to Participate guide.
What is the Token Launch Auction? How is it different from an LBP?
In essence a Token Launch Auction is a so-called ‘Dutch Auction’, which in various forms has been around for hundreds, if not thousands, of years. The basic set up is that the price of the asset that are being sold starts high and descends until a buyer is found. These types of descending-price auctions were used in 17th-century Holland for estate sales and paintings, and possibly even earlier in ancient times in the region of Babylon (current Iraq).
Nowadays, using the power of blockchain technology, we can perform these type of auctions online. Key benefits for participants are:
- fair price discovery: you can buy into or sell out of the auction at any time
- open participation: anyone can participate, for the amount they want
- no competition with transactions fees: everyone has plenty of time to participate, you don’t have to set ridiculously high blockchain transaction fees to be able to buy
Behind the scenes, from a technical perspective, the HDAO token launch auction is a special configuration of Balancer’s Liquidity Bootstrapping Pools (LBPs). The Copper platform, a product by Alchemist, provides a front-end to these types of auctions. In our documentation, we will refer to the auction as a LBP (Liquidity Bootstrapping Pools) but the two are more-or-less interchangeable.
Copper has an excellent help article which offers more details about the benefits of a Token Launch Auction and gives examples of various stages of the auction a buyer might encounter. Make sure to check it out!
Which wallets can I use to participate in the LBP?
To participate in the LBP, you must connect a web3 enabled cryptocurrency wallet to Copperlaunch. Available options are MetaMask, Gnosis Safe, WalletConnect and Ledger.
Which cryptocurrencies do I need for the LBP?
In order to participate in the LBP, you need the following tokens:
Ethereum Mainnet: $ETH, $DAI, $WETH or $USDC to purchase HDAO tokens + $ETH for gas fees
Polygon Network: $WETH, $Matic or $USDC to purchase HDAO tokens + $MATIC for gas fees.
At what price level should I start buying?
At the bottom we have included the 4 main scenarios of a LBP auction. We can’t give advice as to how much, when or in what way you should be investing. Remember, that the price on a LBP will gradually decrease when no buys occur but it can also be the case that large volume buys cause the price to quickly increase.
What is the minimum amount I can buy?
There is no minimum amount of $HDAO tokens that you have to buy. It’s completely up to you to choose how much you want to buy at the price that’s available at that time.
Will there be a lockup period for $HDAO purchased in the LBP?
$HDAO tokens purchased in the LBP will be freely tradable immediately after the sale as they arrive in your wallet straight after swapping.
Are there any other unlocked tokens?
No, the LBP will be the first opportunity to purchase the $HDAO token.
What can I do with my $HDAO tokens after the LBP?
We aim to launch our staking contracts shortly after the LBP. Anyone who holds $HDAO tokens will be able to stake their tokens for additional rewards. On top of that, the $HDAO token holds your voting rights in humanDAO. Governance forum and voting will be launched in the very near future.
What was HDAO’s seed round price?
There was no seed round or private sales.
When will HDAO be open for trading post LBP?
HDAO will be available to trade directly when acquired in the LBP — no constraints. The liquidity mining programs and staking where you can use your $HDAO will start after the LBP. Stay posted for more info.
Once LBP is over, will there be a Uniswap/SushiSwap/Balancer pool to trade our HDAO tokens in?
Yes, there will be incentivised AMMs/trading pools as part of the liquidity mining program that you can trade HDAO with.
What are the tokenomics?
Check out this Medium article: The HDAO Token & Network
What is the initial circulating supply?
50,000,000
What’s HDAO’s max supply?
The max supply is 1,000,000,000.
Will HDAO be deployed on Ethereum or Polygon?
Both. Participants have the option to choose which chain they will purchase $HDAO on. The actual token deployment/generation is on Ethereum Mainnet.
Someone claiming to be a team member asked me to register my wallet using some external link or send them some crypto to take part in a presale
Please only use official channels as there are a lot of scam links floating around at the moment. There is no presale and the $HDAO token will be distributed throughthe LBP. Team members will never DM you first about the LBP.
How does price discovery on LBP Work
Due to the downward shifting weights over time, there is a natural downward selling pressure on the price throughout the duration of the pool that would be offset by the inflow of USDC into the pool.
Below are some price discovery curves of other LBP tokens.
$PERP
$GRO
$MC (Merit Circle — similar business model)
About HumanDAO
At humanDAO we are setting out to create a public good. Our mission is purposefully broad, and yet very clear: improve lives through crypto. Over 2 billion people in underserved communities live on less than $5/day. humanDAO is creating opportunities in crypto for those underserved communities to earn 2–10x that. All while creating profound, new revenue streams for our community and investors.
Website: https://humandao.org/
Community: https://discord.gg/JyEmyYWx
Twitter: https://twitter.com/humandao?s=21
