Hugo Finance will bring in community decision-making at the fore of every of the platform features or innovations. It aimed to be a brand new project with many benefits and potential to the DeFi community and the BSC ecosystem.
What is Hugo Finance?
Hugo Finance is a community-driven, deflationary, auto staking “tough but cute” BSC DeFi token. The Non-Fungible Marketplace is integrated with a Decentralized Autonomous Organization (DAO). The DAO will determine the platform’s planned features, upgrades, and products in the future, ensuring an emphasis on community.
Being a holder of its tokens gives you the exclusive benefits of making important platform decisions. The protocol aims to be community-driven as it allows open governance and strives to integrate important DeFi features for users.
Key Features
Decentralized Autonomous Organization (DAO)
RFI and Deflationary mechanics
Non Fungible Tokens
DeFi Index Funds
Project Components
The Round Table:
The Round Table platform will be the Hugo Finance DAO system where HUGO holders have the right to vote and make suggestions on future updates. Suggestions will be categorized such as development, marketing, charities, etc. Suggestions will then go through community voting where all Hugo holders have a say in the future of the suggestion. Once the majority decides, the Hugo team will work on the community requests.
The DAO system will be the core of the platform as the team aims to make the platform decisions based on the community interests and decisions. You can join the governance protocol by purchasing the HUGO token on PancakeSwap.
Hall of Fame:
Hugo’s hall of fame will be a multi-dimensional platform where NFT’s get submitted, chosen, minted, auctioned, and sold. All Hugo holders can submit NFT’s, which will be pre-approved by the Elite (top 500 holders). The approved NFT’s will be polled, and the top 5 will get minted. It’s up to the winners to decide whether to auction their NFTs or keep them. It is also possible to mint NFT’s outside of the hall of fame and to sell NFT’s on Hugo’s marketplace.
According to the Medium post, the team is fully verified. Their information is minted on an NFT token and made accessible to the authorities in case of any wrongdoings. Although the DAO and NFT systems are not in place yet, they are part of the roadmap to be implemented in June Q2 of this year.
RFI and Deflationary:
HUGO token, the native token of the platform, is embedded with reflectionary and deflationary properties. Outside the Governance rights, the platform holders can benefit from the auto staking properties of the tokens and get passive rewards without doing anything — further expanded upon in the Tokenomics section of the review.
According to the team’s speculation, keying in at the young platform while still at its teething stage will become a more smart financial move in the future.
Source : bsc.news
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