Heifer decentralised autonomous organisation (DAO) is a reserve currency protocol fork of Olympus that offers users high APY bonding and staking opportunities. (Launching Soon — presale Jan / Feb 2022 Unlike other DAOs, Heifer DAO is financially inclusive. Members from the Abrahamic faiths (Islam, Christianity, Judaism) and Buddhist faith all have some prohibitions with the use of usury or interest in financial dealings. How they classify usury may not be all alike. According to the majority of Islamic scholars, exchange of goods must take place hand to hand or instantaneously for the transaction to be valid. It is otherwise considered a form of usury. Currently that is not the case in Olympus DAO or forks and so we wanted to introduce a new feature that enables exchange of tokens transactions to be instantaneous to meet these requirements. This means more people from around the globe can now use it, bringing 25.9% of the world’s population into the market and catering for 63% of the world population. The Protocol: The protocol accepts DAI tokens and HFR-DAI liquidity Pool (lp) tokens in exchange for HFR tokens and uses the funds to build its treasury which backs the tokens value. Initially each token is backed by $1 this is the minimum the price will be. If the price was to fall below $1 then the protocol rebases to automatically buy tokens from the market until the price rises above $1. The price of the token can rise upwards uncapped. Bonding is the process which allows users to buy bonds (HFR tokens to be redeemed after 5 days at discount to market price) in exchange for stable coins and lp tokens. Locking up tokens for 5 days incentivizes hodling (holding of tokens), which helps maintain positive price action. Users are offered high ROI rewards to bond. The minted tokens are shared between the buyer, staker’s and the protocol. Equal amounts are distributed to staker’s, bonders and the protocol. As the treasury grows so do the rewards received by bonders and staker’s. In an uptrend market, it is profitable to mint tokens and users can get rewards from both bonding and staking. You can automatically stake after the bonding period to get more tokens. In a downtrend market or sideways market, the same applies. However, when it is not profitable to bond (e.g. market crash), then it’s cheaper to buy at market (already discount value) and stake. If many people sell, then the remaining staker’s share more rewards. This is guaranteed so long as the treasury can cover at least $1 for each token. The protocol can guarantee a minimum price of 1$ is achieved by buying tokens from the market If the price of the token falls below $1 until the price rises above a dollar. We have included the ability to exchange tokens on the spot that makes Heifer DAO compliant with Islamic finance or Islamic law (sharia). Making the DAO inclusive makes global crypto adoption possible. Crypto is now more accessible to millions more people across the globe. This can be beneficial in poor third world countries where crypto may be the only way to survive. Financially inclusive: Members from the Abrahamic faiths and Buddhist faith all have some prohibitions with the use of Usury or interest in financial dealings. However, they may not be all alike. According to the majority of Islamic scholars, exchange of goods must take place hand to hand or instantaneously for the transaction to be valid. It is otherwise considered a form of usury. Currently that is not the case in Olympus DAO or forks and so we wanted to introduce a new feature that enables exchange of tokens transactions to be instantaneous to meet these requirements. Links: Website: www.heifer.finance Twitter: https://twitter.com/Heifer_DAO Telegram: https://t.me/+hbTtszR-mM5jZjk8 Discord: https://discord.com/channels/921052624718004265/928695928125284413 reddit: https://www.reddit.com/r/Heifer_DAO/ LinkedIn: https://www.linkedin.com/company/heifer-dao
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