Hermes DAO | Decentralized Fund for Investments
DAO (Decentralized Autonomous Organization) is an entity structure in which tokenholders participate in the management and decision-making of an entity. All votes and activity through the DAO are posted on a blockchain, making all actions of users publicly viewable.
- What is Hermes DAO?
Hermes DAO is a decentralized fund for investments in crypto assets (tokens, coins, NFTs...) managed by Hermes DAO Parliament and the community. The fund is primarily used for investments in existing crypto projects and projects in the early stages. It is an ideal balance between a hedge fund and high risk investments with constant and stable returns.
- What is Hermes DAO Parliament?
Hermes DAO Parliament is the entity that manages the Hermes DAO fund in agreement with the community. The duties of parliament members are to do a KYC, to attend regular meetings, to participate in Hermes DAO promotion, to do research on potential projects for investment and to participate in the further development of the Hermes DAO project. Members of Parliament must make responsible and conscientious decisions about managing assets and must not trade information outside the Parliament.
- How to become a member of Hermes DAO Parliament?
Any community member who is willing to meet the membership requirements and owns the required amount of Hermes (HMX) tokens can run for Parliament. The minimum number of tokens a member of Parliament must lock for one month through Ceres Token Locker is 100,000 HMX. Members of Parliament are elected by the community by voting on the Hermes Governance platform.
- What is the relationship between the Hermes DAO Parliament and the community?
The Parliament consists of 7 members, of which 3 are permanent. Anyone can apply for the remaining 4 positions at any time through the Governance platform. The community votes to admit candidates to Parliament or to expel a member of Parliament. If the irresponsible behavior of a member of Parliament is noticed, the other Parliament members organize a vote for the community to expel the irresponsible member. Members of Parliament are in charge of investments, but also the community can propose investments through the Governance platform.
- How does Hermes Governance platform work?
Governance platform is a tool for implementing the concept of decentralization in Hermes DAO. Any holder who has Hermes (HMX) tokens above a set limit (100,000) will be able to create a poll. Likewise, each voter who has Hermes (HMX) tokens above a set minimum (1,000) has the same voting power as anyone else. Each wallet’s vote counts as one vote. Both poll creators and voters lock their tokens while the poll is going on.
- How do holders earn from Hermes DAO investments?
Hermes DAO priority is constant and stable income that will be distributed in the form of passive income to Hermes liquidity providers and stakers. Users need to provide liquidity or stake HMX to become holders of top 50 projects by market cap (BTC, ETH, LINK, DOT…). Users are able to farm multiple rewards tokens with the same liquidity. 65% of the generated income from investments goes to HMX liquidity providers and stakers in the form of rewards while 35% goes to Hermes DAO Treasury for further investments.
- How to get Hermes airdrop?
Every CERES holder who holds at least 1 CERES token on SORA or Ethereum network is eligible for HMX token airdrop. Also all liquidity providers for the XOR/CERES trading pair on Polkaswap and CERES stakers on Demeter Farming platform are eligible to get Hermes airdrop. 5% of HMX supply (5,000,000 tokens) is reserved for airdrop. Airdrop is linear vested for 5 months starting 15 days after listing.
Tokenomics
Asset name (symbol) - Hermes (HMX)
Total supply - 100,000,000
- Airdrop 5,000,000 (5%) — Each Ceres holder will receive Hermes airdrop tokens 15 days after listing - whole airdrop amount is linear vested for 5 months.
- ILO 32,500,000 (32.5%) — Part of the HMX supply provided for Initial liquidity offering sale.
- Rewards for liquidity providers 37,500,000 (37.5%) — XOR/HMX farming pool with HMX rewards will be opened 15 days after listing and will last for minimum 36 months. Block reward is 2.411 HMX.
- Rewards for staking 12,500,000 (12.5%) — Holders are able to stake HMX and earn HMX. Staking pool will be opened 15 days after listing and will last for minimum 36 months. Block reward is 0.803 HMX.
- DAO Treasury 10,000,000 (10%) — Part of the HMX supply managed by Hermes DAO Parliament and HMX holders with a goal to keep around 30% treasury worth in Hermes (HMX) tokens.
- DAO Parliament and advisors 2,500,000 (2.5%) — Part of the HMX supply provided for the maintenance of Hermes DAO, advisors, marketing and potential partners.
Strategy
Hermes DAO priority is constant and stable income that will be distributed in the form of passive income to HMX liquidity providers and stakers. The goal is to distribute 65% of the profit from each share and use 35% for new investments. Approval of each investment requires a majority in the Hermes DAO Parliament.
Rewards
Provide liquidity or stake HMX to become holder of top 50 projects by market cap (BTC, ETH, LINK, DOT…). 65% of the generated income from investments goes to HMX liquidity providers and stakers in the form of rewards. Using a governance platform, the community will decide in what form the rewards from the income will be distributed. Users are able to farm multiple rewards tokens with the same liquidity.
Governance
Governance platform is a tool for implementing the concept of decentralization in Hermes DAO. Any holder who has Hermes (HMX) tokens above a set limit will be able to create a poll. Likewise, each voter ho has Hermes (HMX) tokens above a set minimum, has the same voting power as anyone else. Each wallet s vote counts as one vote. This way of governance functioning brings a greater degree of democracy.
More info about Initial Liquidity Offering and token listing coming soon!
