This article is about one of the pillars of the HederaStarter launchpad. The HDAO is how we intend to help Hedera differentiate itself from other smart contract platforms, using the community to work with HederaStarter’s incubation team to ensure we launch the most innovative dApps onto Hedera.. – Co-Founder Conor
What does the HederaStarter Incubation Team Do?
Project incubation is HederaStarter’s bread and butter. We receive, and or seek out, projects to incubate, and following multiple rounds of due diligence and meeting with the projects’ teams, we decide to admit the project into the incubator. From there, the incubation team takes over responsibility of the project and handles them through to the completion of their initial fundraising, all of this taking place inside the HDAO with the hard work of the $HSTART stakers.
The incubation team itself has deep experience with improving, developing, and refining a variety of projects across a range of niches and smart contract platforms within the industry. We bring this ocean of knowledge to bear with all of the projects that pass through our care and we take great pride in how we’re able to take protocols and elevate them to the next level and launch truly innovative projects. This elevation of the protocol affects a variety of project aspects, from the team, the utility of the token, the token’s distribution schedule, protocol features/mechanics, more technical features of the protocol etc. When we incubate projects we essentially critically examine every feature and determine how we can refine them and build them up into their best possible form. There is generally nothing that is off-limits because our goal is to expand the Hedera ecosystem with quality, thoughtful dApps and to ensure that the projects themselves are going to be able to compete and thrive with projects on the many other smart contract platforms.
These major efforts occur over a span of many hours of work between both the project’s team and HederaStarter’s incubation team until both parties are able to reach a compromise. This process is not simply about our incubation team imposing demands upon the projects, it is a very open dialogue of exploration where we are focused on working together to adjust critical features that we feel need to be addressed. This dialogue between HederaStarter and the project is where the HDAO comes in, and overtime beginning to play a more active and outsized role as we incubate more and more projects for the Hedera ecosystem.
How does the HDAO help?
Now that we understand that the incubation team works hand in hand with projects to improve and build upon every aspect of their protocols, where do the stakers of the HDAO come in? To start the HDAO is composed of Industry Councils, ICs, each dApp that enters the incubator will fit into a certain industry, Metaverse, GameFi, DeFi and so on, and the HDAO stakers decide which council they would like to be a part of. This is an important decision that every HDAO staker must make because they are offering their own expertise and experiences by choosing to be a member of a specific council. Should a HDAO member select for the DeFi council, having knowledge of the many DeFi protocols, mechanics and tokenomics of projects currently on the cutting edge in the space would be expected of them as they would need to take that understanding and apply it to the protocols the incubator passes through the DeFi council.
The HDAO is intended to cover every industry that dApps occupy and is capable of expanding the councils as more and more niches begin to emerge across the industry and on Hedera. Stakers of the HDAO are the ultimate decision makers in the quest for a project to launch on HederaStarter via the HPAD and this mechanic is what truly defines us as a launchpad. For projects to proceed to the HPAD and launch, the majority of the HPAD stakers for the respective council must vote to approve the project, until that happens the project is unable to launch. This creates a scenario where rather than simply pumping out potentially suspect projects over time, HederaStarter’s incubation team and the HDAO will work together in this union of efforts to produce high quality protocols that will help Hedera rise above its peers in the space.
Time is on HDAO’s Side
In the beginning stages of HederaStarter, as we launch the first initial projects, the workload and the bulk of effort will be performed by the incubation team as they’re the ones with the most experience on the incubation side of things at that point in time. The true value proposition for HDAO begins as the staking members begin to experience more project incubations and gain an understanding of how the process works by actively participating. This is unique to HederaStarter as not only does the incubation team continue to gain experience over time incubating projects but the community of HDAO gradually gets trained up on the process with each successive IDO.
On nearly every other launchpad deployed on other platforms the community simply invests in projects that the launchpad permits to launch. HederaStarter’s uniqueness is that we vest the power in the community to make the ultimate decision on whether the projects are allowed to launch and at the same time we improve the community’s knowledge in this regard. We are extremely excited to see how our launchpad looks in the coming 6 months and 1 year out, as we launch a variety of projects we expect that the HDAO stakers will guarantee that HederaStarter and the Hedera dApp ecosystem is going to be on the cutting edge of innovation. We want to see the community as involved as possible in our incubation system because the more people we can expose to how the process works the more training they gain and the more comfortable they are with lending their knowledge and backgrounds to the incubation of
projects. This is how we at HederaStarter will be able to play a vital role in Hedera’s dApp ecosystem growth and we are excited and ready to put in the work necessary to ensure Hedera’s success.
- Co-Founder Conor
This is a sponsored article brought to you by HederaStarter.fi, all views, opinions and context are strictly those of the author.