As I cannot access the forum with my main account (crtz) I created a new one.
I would like to follow up on a part of a comment by @Corey during the discussion of the HIP 009 (Builder Runway Proposal 2023-2024) to raise awareness on the future of our token and the inseparable question of liquidity.
The second part of this discussion is that the DAO is currently positioning itself in an exciting place. We now have a tried and tested product, potential revenue streams and a well-versed team. The market cap of $HDAO is under $1 million dollars and with any luck the markets will begin to see retail returning within the next couple of years. With the allocation of a marketing budget, it is most certainly the hope that we can raise awareness of humanDAO to a far larger audience.
The current market cap (< 400k) as well as the price of our token $HDAO (< $0.0060) is currently on an all-time low. $HDAO was unable to benefit from the general market upswing of recent weeks and months, quite the contrary. The vesting period for the staking rewards expired, and it can be assumed that many investors have left our token behind. You donāt have to be a great optimist to assume that money (including from retail investors) will return to the markets on a larger scale. The question is, if we can raise awareness of humanDAO (and therefore $HDAO) to a far larger audience as Corey hopes, how will we ensure that $HDAO is an interesting and demanded micro/small cap token?
Currently there is a very thin DEX liquidity on both our Uniswap v2 Mainnet pool HDAO/USDC (< 500k, HDAO/USDC - humanDAO Price on Uniswap V2 | GeckoTerminal) and the Balancer v2 pool on Polygon (< 300k, HDAO/WETH - humanDAO (PoS) Price on Balancer V2 (Polygon) with 0.6% Fee | GeckoTerminal). This effectively means high slippage as well as a high price impact when trading these pairs. Are there any plans to enlarge the liquidity for our token? What is our liquidity target to allow new entrants to trade five-figures and more with less than 2% slippage? Is it worthwhile to run a liquidity mining program in addition to a direct provision of liquidity by the DAO? What about CEX liquidity?
Iām very much looking forward to hearing your thoughts on this.
I think you make some good points here. There are obviously different ways to attract liquidity, and weāve chosen to go with the longer/harder route (building organic demand) than the short/easy one (throw more cash at it to incentivise liquidity), with the intention of creating something thatās sustainable.
I think the grant from Enzyme Finance, which is worth close to $50k USD, shows weāre starting to build some really valuable products, and the broader Human Task Force project will have $HDAO at its core, creating a āsinkā for the token which we donāt currently have.
I do believe thereās a strong marketing opportunity once these projects are ready for a real push out to the market. I like the narrative in a bull market of a social impact DAO with real revenue, building at the intersection of AI and crypto, whose market cap is considerably below the value of its treasury assets.
I think the liquidity high of the DEX pools is not the issue here. In fact, with 450k in Uniswap and 250k in Balancer, they seem quite high given the overall market cap. The real problem appears for me to be the lack of usage or a clear vision for the future of the $HDAO token. This means a lack of new buyers + current stakeholders selling ā lower price ā lower liquidity.
Iāve raised the question of the usage/vision of the $HDAO token several times on Discord. After my third attempt, the response I received was vague: āā¦As for its usage, yes, it holds promising potential for the future, as our builders are busy working behind the scenes on projects where the $HDAO token may be of use.ā This isnāt very concrete. Moreover, it seems that no one else, apart from you, is discussing the $HDAO token.
The question is for me: What is the intended use of this token? Are there any definitive plans for its utilization? Answering this could enable more effective marketing. Given the low market cap, even a small increase in interest could significantly impact the price, and consequently, the liquidity.
Or is it possible that Iāve missed some information regarding this?
Thanks a lot for your input here on the forums! Itās great to see the discussion picking up, and youāve raised some solid points. Clearly, itās time for us to provide a more detailed update about our progress with our products and the plan for the $HDAO token.
Iāve had a chat with the team, and weāre all on the same page about this. Weāll be getting this update out soon. Weāre thinking of posting it on Medium, but I think it also makes sense to share it here on the forum to spark some discussion around the update.
Just to give you a quick personal update on how I see things: the buying pressure and the utility of the $HDAO token are key. More utility for $HDAO means more buying pressure, which should, of course, lead to an increase in its price and liquidity.
The dev teamās main effort has been on developing the Human Task Force platform and its related products, like a bespoke AI research tool and a content creation system. From what Iāve heard, the demand for the Assistant side of HTF has been massive. If we can get that kind of response on the user side as well, things are looking really promising.
Itās worth mentioning that Chris has been deeply involved in figuring out how the HTF platform will benefit the $HDAO token and its holders. Thereās a token burning mechanism integrated, which means the more users we get on the HTF platform, the more itāll positively impact the buying pressure on the $HDAO token.
Iād love to see the DAO really step up in terms of marketing and onboarding, but it is clear that we need to coordinate these timelines, to make the most out of our product developments and announcements.
Many thanks for your replies and continuing the discussion! You made some valuable points here. Itās good to see that the token holders will not be forgotten. $HDAO at the core of the HTF platform even with a burning mechanism would be really a āsinkā (even if i donāt like the term, nobody wants to see their money sunk ). It will be interesting to see what impact the desired buying pressure has on the tradability of $HDAO. One step at a time thoā¦
Generally I think there is room for improvement in terms of communication within this DAO. Here and then we discuss the builder runways and then calm returns. Hope is spreading that things will work out somehow. It would be nice to get more updates from the team on the progress. There is the DAO chat on Discord to give some regular insights. Maybe it would be also a good idea to have regular DAO meetings which can be also held via Discord. On the other hand the wider DAO also have the responsibility to request information.
I like your narrative @adamdawson.eth of āa social impact DAO with real revenue, building at the intersection of AI and cryptoā¦ā which is the main reason I support this project. Iām looking forward to your update on the products as well as our token. This should also be shared here on the forum in any case.
it seems that no one else, apart from you, is discussing the $HDAO token
As blunt as this is, itās fair, and something we want to change quickly, especially as bull market vibes return. I think weāve got some nice catalysts here that will play well in the crypto attention game:
A new token which enhances the tokenomics of $HDAO (more details on this on our blog soon)
A ālow cap gemā with a meaningful treasury behind it
AI x crypto products coming to market
Weāve deliberately held off on marketing investment to preserve our treasury/budget through the bear market and ensure weāve built something of substance that will support user retention, but this is another lever we can pull.
This sounds good! I know weāre not there yet, but just having a plan for $HDAO makes me confident for the future. Iāll wait and support as we go forward.
). It will be interesting to see what impact the desired buying pressure has on the tradability of $HDAO. One step at a time thoā¦