Tuesday, January 18, 2022

Heifer DAO stands for Financial Inclusion

History

The Dollar was backed by gold until 1933 when the Bretton Woods system ended, it was then no longer backed by anything and the federal government printed Dollars at will causing significant inflation.

In 1933 $1 was equivalent to today's $21.38, that is 2038.1% Inflation, it seems inflation will continue to rise into the future.

Blockchain Technology came into the limelight with Bitcoin in 2009 after the financial crises as the people lost trust in the government.

With the adoption of crypto currencies by the government of EL Salvador, retail outlets, Visa, IBM and more, cryptocurrencies and blockchain technology looks to be heading towards global adoption.

At Heifer DAO we aim to become globally accepted, financially inclusive stable coin currency that can be used as a store of value.

Heifer DAO

Heifer DAO is launching a decentralized, financially inclusive DAPP to further crypto adoption and is now Islamic finance compatible.

The DAO reserve protocol, forked from Olympus, can cater for customers from even more religious groups.

Abrahamic faiths such as Islam, Christianity and Judaism and other religions like Buddhism all prohibit usury (interest).

Different religions differ on what is classified as interest, Islam for example includes transactions that are not hand to hand as interest and so were restricted from using current decentralised applications (DAPP's) in the market due to their religious beliefs.

Heifer DOA is compliant with Islamic finance which is exciting as it means it is accessible to millions more people.

According to statistics, Muslims make up approximately 24.7% of the world's population.

Presale

Heifer DAO will be conducting a presale event in January 2022, there will be 35,000 HFR tokens minted.

Out of that 25,000 will be available for presale with each token going for $5 each raising a total of $150,000.

$100,000 will go into liquidity and $50,000 will be used for marketing and development.

Out of the 35000, 10000 tokens will go into the in liquidity pool with $100,000 for liquidity setting an initial price of $10 per Token. There will be a presale with min / max $1000 buy-in per person. There is 100% profit to be made vs listing price. Telegram: https://t.me/+hbTtszR-mM5jZjk8

The Protocol

HFR tokens are the native tokens for Heifer DAO, they are backed by at least $1.

There is a rebase mechanism in place. Should the price decrease below a dollar the treasury automatically will buy HFR from the market until the price rises above a dollar.

The protocol will sell HFR tokens in exchange for Liquidity Pool tokens (lp) and stable coins above a dollar.

Each token is valued at least $1. By buying below $1 and selling above $1, the protocol remains in profit and users; who are also owners of the protocol, share the dividend rewards.

There is no inflation, in contrast, the value of the protocol token can rise above the minimum value ($1).

We want to become a stable coin that is a store of value, mass adoption can bring price stability through volatile markets:

Adoption leads to:

  • Increase of minimum price floor with increased liquidity
  • Unlike other DAO’s in the market, HFR DAO was designed to be more financially inclusive. With the introduction of Islamic finance compatibility, millions more people can participate in the project allowing for true global adoption and project growth.

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