Hippo Finance Launches First Community Governed DeFi Hedge Fund

Hippo Finance, a liquidity mining platform on Ethereum, has announced the launch date of its community governed DeFi hedge fund. Users will generate returns from staking HIPPO tokens in various farming pools, along with growing the decentralized hedge fund which token holders decide to use as a collective.

• Team Hippo aims to set a new industry standard for DeFi farming protocols, as a result, all the code will be audited by two independent security firms before launch.
• Hippo Finance is powered by a three token ecosystem, designed to provide farming operations that are sustainable and incentivizes holding HIPPO tokens long term.
• Users decide how the decentralized hedge fund is spent through transparent on-chain voting: burn, invest in another project, or distribute as dividends.

How does it work?

Hippo Finance is powered by a three token ecosystem: HIPPO, Angry Hippo (aHIPPO), and Dark Hippo (dHIPPO). Each token has its separate use case which compliments each other through staking to form a powerful positive feedback loop. The Hippo tokenomics are designed to distribute all value captured by the protocol back to investors through community governance. Ultimately the mission is to provide a secure long-term farming platform for crypto investors with plans to scale onto Polkadot.

Users stake HIPPO tokens individually to earn aHIPPO as rewards, or can provide HIPPO/ETH liquidity on Uniswap to enjoy a x1.5 multiplier. Additionally, aHIPPO/ETH LP tokens can be staked to farm dHIPPO tokens. Stakers will earn 75% of rewards, 20% goes to the fund contract, and 5% is allocated to the development fund. Through on-chain voting token holders can then decide how to manage the hedge fund with the following choices:

1. Burn the tokens to reduce the total supply, driving the price up.
2. Collectively invest in another DeFi platform or ICO, for the dHIPPO fund, this will be a Polkadot based project.
3. Distribute the funds as dividends to HIPPO stakers.

Why use Hippo Finance over other protocols?

With Hippo Finance, investors find a protocol with a unique use case, token designed for long-term sustainability, plans to scale onto Polkadot, and most importantly that has been audited before launch. For example, to avoid over emission there is a fixed total supply 163,737 HIPPO. Furthermore, the platform’s code has been audited by a reputable security firm Solidity Finance. Additionally, farming of aHIPPO and dHIPPO tokens will not go live until 24 hours after a second security audit by well-known auditor NCyotee.

NCyotee, independent Ethereum auditor said:

“Hippo Finance is a prime example of what DeFi is capable of. A global team using that to their advantage to provide 24-hour support to their buyers. The Hippo Finance team is clearly dedicated to serving their community. They’ve demonstrated this repeatedly with their actions. Such as burning the team’s $HIPPO, and the keys to the Hippo Finance controller contract, MasterChef. The quality of their work and dedication to the community shows Hippo is a safe buy. With Hippo’s plan of expanding to Polkadot, I expect they will be a long term player in the market. I plan on auditing HIPPO at 8 PM UTC, 2020-10-10.”

NCyotee’s work with HIPPO is part of a new charity called The Church of the Chain, which supports emerging DeFi projects. Further details on their mission and website will be launching on Saturday after the security audit has been completed.

Currently, there is a major problem with copycat developers deploying unaudited and unsafe platforms. These clone DeFi projects harm the integrity of the industry by placing immense smart contract risk on the investors. Furthermore, many protocols launch with zero innovation or tokenomics that cannot scale. Hippo Finance audited protocol provides investors with a safe farming experience, along with future investment returns via the collective hedge fund feature, and a bridge to Polkadot.

About Hippo Finance

Hippo Finance and HIPPO token is inspired by popular DeFi protocols SushiSwap and Nyan Finance. Team Hippo is a firm believer in developing unique code with complete transparency, along with on-chain community governance. As a result, HIPPO token’s initial distribution followed a fair launch with no presale, pre-mine, or any tokens allocated to the development team. Early supporters earned HIPPO tokens through farming by staking Uniswap LP tokens. Team Hippo is committed to building a transparent, sustainable, and cross-chain farming platform on Ethereum and Polkadot.

Contacts

For any follow-up media questions or comments please contact our public relations manager:

Matt

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