About dHEDGE DAO Coin
dHEDGE DAO price today is $4.27 with a 24-hour trading volume of $4,788,009. DHT price is down -2.5% in the last 24 hours. It has a circulating supply of 9.9 Million DHT coins and a max supply of 100 Million. Uniswap (v2) is the current most active market trading it.
What is the dHEDGE DAO (DHT) token?
dHEDGE DAO (DHT) is a governance and utility token for the dHEDGE asset management protocol. Holders of DHT can propose and vote on changes to the protocol’s smart contract and operational parameters, as well as incentivize participation for investors and managers.
What is dHEDGE?
dHEDGE is a non-custodial, decentralized asset management protocol for synthetic assets. The protocol enables investors to mimic the investment strategies of top performing asset managers whilst empowering the latter through its unique asset pool mechanisms. dHEDGE’s goal is to democratize investing and become the one-stop location for managing investment activities on the Ethereum blockchain.
The protocol is fairly new, having launched its mainnet in October 2020. Nevertheless, its growth has been robust, registering $5 million in Total Value Locked (TVL) across 213 asset management pools in a short two-month span (December 2020).
What can the dHEDGE DAO (DHT) token do?
The dHEDGE DAO (DHT) token has three main functions:
- facilitate decentralized governance
- incentivize investors to invest with top-performing managers
- incentivize managers to earn greater returns
dHEDGE is governed through a decentralized autonomous organization (DAO). In essence, this means that any DHT holder can use their DHT to vote or propose changes to the protocol. For instance, DHT holders can elect to change the administration fees charged on dHEDGE from 10% to a different value. Holders can also vote to increase or decrease the total supply of DHT tokens, currently capped at 100,000,000 (as of December 2020).
As for incentives, both investors and managers are rewarded additional DHT if the pool which they have invested in or manage fulfills dHEDGE’s Performance Mining criteria. The criteria for the additional DHT incentives are:
- have returns above a specified ratio
- have been funded for more than 2 weeks
- be public
Currently, dHEDGE is allocating 500,000 DHT as rewards, distributed daily on a pro-rata basis to users over a 3-month period. For more information on Performance Mining, you may read dHEDGE’s docs here.
Where and how do I obtain the dHEDGE DAO (DHT) token?
There are two main methods to obtain dHEDGE DAO (DHT) tokens: i) from an exchange or ii) from dHEDGE directly, via Performance Mining incentives.
Obtaining DHT from a cryptocurrency exchange such as OKEx or Uniswap is the simpler of the two options. You may browse through the various centralized and decentralized cryptocurrency exchanges via the link provided.
For individuals who are more adventurous, DHT tokens can also be acquired by becoming either an investor or manager on dHEDGE. Receiving DHT as an investor is quite straightforward. Investors need to only invest into a pool with a ‘pickaxe’ symbol.
For managers however, a certain level of technical expertise is necessary. Rewards are only given to managers whose pool fulfills the Performance Mining criteria as outlined above.
How can I become an investor or manager?
dHEDGE is powered by Synthetix and makes full use of the ecosystem’s synthetic assets and peer-to-contract model for asset management. To become either an investor or a manager, users must first have some synths in their wallet.
Investing into pools requires the use of Synthetic United States Dollars (sUSD), whereas pool creation can be done using any of dHEDGE’s supported synths such as Synthetic Bitcoin (sBTC) or Synthetic Ethereum (sETH).
The simplest way to get sUSD is by purchasing it from a cryptocurrency exchange, similar to DHT. sUSD can also be minted with Synthetix Network Token (SNX). Using Synthetix’s Mintr app, users can stake SNX into the Synthetix smart contract and obtain sUSD in return. Doing so incurs a debt, but also staking rewards. Once sUSD is acquired, it can be exchanged for any other synthetic assets on Synthetix Exchange.
After acquiring some synths, users can then head over to dHEDGE’s app to start investing or open a pool to become a manager. More information on synths can be perused on dHEDGE’s docs page. As for Synthetix, you can read more about it on our Synthetix Network Token (SNX) page or its litepaper.
What are synthetic assets?
Synthetic assets or synths are derivatives that provide exposure to real world assets on the Ethereum blockchain. Similar to traditional finance derivatives, synths allow users to hedge and reduce their risk, speculate on price movements, and gain access to unavailable assets or markets, all without holding the underlying asset.
dHEDGE currently supports 42 synths, ranging from equity index synths such as sNIKKEI and sFTSE, to crypto synths like sBTC, sETH, sBNB and iBTC. A complete list of dHEDGE’s supported synths can be found here, while more information about synthetic assets in general can be found in Synthetix’s litepaper.
Where can I learn more about dHEDGE and its token?
To learn more about the dHEDGE protocol and its DHT token, you may check out its documentation.