TFA: Understanding DAOversal’s Targeted Financial Assistance Plan
“I can empathize with your concerns, and I am aware of the unfortunate events surrounding the Hypercommunity. It is crucial to note that we have no affiliations with the Hypercommunity. The Hypertech group merely serves as a conduit to facilitate the community’s transition to Daoversal. We are committed to providing assistance and a secure environment for the community to thrive with Daoversal. While the past may bear scars, it is essential to embrace faith in the potential that Daoversal offers.” — Ms. Ke, DAOversal CTO.
On September 25th, 2023,
successfully rolled out their highly anticipated Targeted Financial Assistance, or TFA, Plan, to the delight of a majority of their ecosystem population.The TFA initiative, originally dubbed Focused Repayment Assistance, or FRA, by DAOversal partner
, earlier this year, is first-of-its-kind in the Web3 space, designed to assist members of the beleaguered Hyper Community, which had a number of crypto projects that had met an untimely demise following the actions of unscrupulous Community “Leaders,” as outlined in the Hypernation Community Review Report.Drained of liquidity, Hyper closed up shop earlier this year. Many members from around the world were left with staggering sums of crypto seemingly stuck, with no recourse to reclaim these funds.
Enter DAOversal.
From a journalistic perspective, I hesitate to call the TFA a rescue package, but from a personal perspective, and as a member impacted by the fall of Hyper, that’s exactly what it feels like.
It feels like hope.
The TFA empowers members to begin to reclaim their assets thought lost in Hyper, offering options both to passive and active members alike.
The TFA is currently available to all members of DAOversal, though as noted below, packs are currently limited, and as of the publishing of this article, one thousand TFA packs are being released per day on a first come, first served basis. They have also made a version of the program available, called TFA+, featuring an enhanced release rate of rewards, meaning members can recover their former Hyper funds faster.
Availability of TFA+ is limited, initially made available through SatoshiAI Delegates to early adopters. DAOversal has gone on to offer TFA+ packs as prize draws in their various social media channels, so it’s worth getting plugged in for a chance to win.
DAOversal has structured this staggered release of packs, as well as the charging and respective release rates of recovered funds, on purpose to ensure both the sustainability and longevity of the platform, with the DAOversal having a vision for its ecosystem going fifteen years into the future.
Hyper members’ funds were consolidated and transferred to the Hyper Community platform in preparation for the launch of the TFA program. From there, members can transfer said funds to DAOversal and use them to subscribe to TFA Pack A, the starting point for all members interested in recovering their funds via the TFA. It’s worth noting that DAOversal is offering an impressive 1.5x total value of members frozen funds, and after successfully completing Pack A, members may choose to move on to Packs B and C.
In an exclusive community call hosted by the
, Jonah, CEO of DAOversal, stated his keen interest in making smaller TFA packs available to members — perhaps as low as $500 and $1,000 — so that every member has an option of recovery available, and no one is left behind.The big difference between TFA and TFA+ is the base release rates of accumulated rewards. The standard TFA charges at a rate of 0.15% per day, while the TFA+ offers 0.2%. This may not look like much at face value but can substantially lower the amount of time required to reach the $1,500 withdrawal milestone required of TFA Pack A by as much as two months. Ambitious members may also speed up the release of their TFA by way of DAOversal’s innovative Land Staking feature, though this is not required.
TFA Details are as follows:
- Every Assistance Pack provides a 1.5x return of the pack value.
- Charging period refers to the duration during which the release amount has not reached 100% of the Pack Value
- During the 'Charging' period, the Daily Release Rate is capped at 0.2% (TFA+) and 0.15% (TFA), After this period,
the Daily Release Rate increases to 0.6% for both. - Assistance Pack Daily Rewards, Land Tax, Planet Referral Rewards, Market Rewards, and 10% of the Land
Staking Daily Rewards can shorten the 'Charging' period. - Users are required to collect all the DU Points (DP) on the 'Assets' page under 'My Rewards' or on the 'Land’ page, and charge the Assistance Pack within 24 hours after collection. Otherwise, you may lose the points needed to charge the Assistance Pack
- Users can withdraw funds once the Assistance Pack reaches 30% of the Pack Value (E.g: Pack A at 5,000 — Withdraw at 1,500).
To learn more, get plugged in with DAOversal via their social channels. Also consider visiting the Bureau of Forefront for a list of detailed tutorials and join a community of like-minded members.
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