dHEDGE: Non-custodial mimetic trading for synthetics on Ethereum
With Synthetix’s zero-slippage trading model and expanding group of listed assets, dHEDGE is creating new ways to use the derivatives liquidity the Synthetix protocol enables — the most innovative DeFi platform and community globally.
The dHEDGE community has decided, in an open vote, to distribute the first DHT tokens to the public via an auction process on Mesa — a platform on the Gnosis Protocol.
These are the Key Details for the Mesa Auction:
- Maximum tokens sold: 5M DHT, 5% of total initial supply of DHT (100,000,000 tokens)
- Bids are placed before the auction begins, by following this link and select USDC in the Sell drop down menu and DHT in the Receive drop down menu of the page.
- Instructions on how to participate are here.
- The auction starts at 10am UTC Thursday September 17
- The auction will last for a maximum of 24 hours, but please note that there is a chance the auction will conclude much quicker, in a matter of minutes so please put in any bids well ahead of time
- Currency: USDC
- Minimum bid price 25c
- Minimum bid value ~$2,500 (Mesa solvers may not include lower bids)
- DHT contract address is: https://etherscan.io/address/0xca1207647Ff814039530D7d35df0e1Dd2e91Fa84 (and ENS: https://etherscan.io/address/dht.dhedge.eth)
- Proceeds from the auction will be held by the dHEDGE DAO
The DHT Governance Token
DHT is dHEDGE’s native governance token. It plays a key role in both bootstrapping the platform and its decentralized operation and governance. The dHEDGE community and the DHT token holders will have authority to determine the direction of the dHEDGE protocol. Staking functionality for DHT will be enabled some time after the mainnet launch.
The DHT Distribution
The below graph illustrates the distribution of DHT over time. Note that this excludes future Performance Mining of DHT (a dHEDGE innovation — more details coming soon) and future use of DHT held in the DAO. It should only be viewed as a guidance and could materially change through the community’s governance and other key stakeholder future decisions. It was important for dHEDGE to provide adequate initial token circulation to avoid issues with liquidity and speculation based on low circulating supply.
The price of DHT at the Seed round was 8c. The price of DHT at the most recent, Strategic, round was 25c. Vesting for Seed Strategic, Exchange Partner, Core Team and Advisors commences 1 month after the auction.
Since the last investment round, community building has been accelerated through two successful Testnet Competitions, both sponsored by Synthetix. UI and branding experts have been consulted ahead of mainnet launch. The development team now consists of five developers executing against our ambitious roadmap.
*As described above, up to 5M DHT will be offered in the Mesa auction. Other Incentives include and are not limited to Testnet Competition prizes, strategic airdrops, exchange liquidity programmes, exchange promotional activities and other community related growth incentives. 7.72% should be seen as a maximum cap for these activities. Part of these tokens might be locked over time and not freely circulating.
More About dHEDGE
Supported by some of the biggest names in crypto, including Framework Ventures, Three Arrows Capital, BlockTower Capital, DACM, Maple Leaf Capital, Cluster Capital, Lemniscap, LD Capital, IOSG Ventures, NGC Ventures, Bitscale Capital, Divergence Ventures, Genblock Capital, Trusted Volumes, Altonomy, Continue Capital, The LAO and Loi Luu, Co-Founder and CEO of Kyber Network, dHEDGE aims to democratise the investing experience leveraging the unique capabilities of Ethereum and Synthetix.
Launch of Mainnet is still scheduled to take place before the end of September, after a successful smart contract audit has been completed.
Important Notice: DHT tokens are a means by which users may utilise the protocol. dHEDGE DAO does not recommend purchasing DHT for speculative investment purposes. dHEDGE DAO does not recommend that you participate in the generation event unless you have prior experience with cryptographic tokens, blockchain-based software and distributed ledger technology and unless you have taken independent professional advice. DHT tokens may lose value or have no value and may have no market. Note that if applicable law does not allow all or any part of the above limitation of liability to apply to you, the limitations will apply to you only to the maximum extent permitted by applicable law.