Hugo Finance: A Community Driven DAO Incorporating a NFT Platform and Index

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.

By
Wilfred Victor
on
May 11, 2021
Category:
Sponsored

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.

Hugo Finance

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.

HUGO on PCSV1

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.

Hugo Team Verification

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.


Platform Updates

A few days ago, the platform released its development updates with statistics of its various media outlets, this includes;

  • Twitter followers: 4983
  • Telegram members: 4996
  • Hugo Token holders: 6803
  • Listed on Coinmarketcap, Coingecko, Delta app, Blockfolio and Coinbase’s price checker
Hugo Finance Development Update

They also released information on how the DAO will work. A sneak peek of the front and backend will be revealed on Twitter, so keep posted. The NFT ecosystem will have two parts, as mentioned. The Hall of fame is the DAO part of the NFT platform and the marketplace allows users to trade. Users can mint their NFT without being part of the Hall of Fame, but winning the Hall of Fame comes with its perks, including massive publicity for the NFTs. Further plans and actions on the NFTs are not decided yet.

Users can already get access to up to 100% APY return on the HUGO pool on Waffle exchange. This is an extra passive income generating system alongside redistribution and DAO governance. Stake HUGO together with WAFFLE to earn $BTR or $WAF - go HERE.


Youtube and Hugo Charity

A YouTube tutorial on how to purchase the tokens is live. The team announced the Hugo Helping Hands charity initiative recently on its Twitter platform. They have already completed two rounds, the first to Karama Solidarity and the second, Khalsa Aid. Interested users who wish to join the charity run would have to hold a minimum of 200k HUGO tokens.

Stake HUGO on WaffleSwap

Tokenomics

HUGO is a deflationary and reflectionary supply with 2% charged per transaction. 1% redistributed to holders (diamond hands) another 1% burned forever.

HUGO Tokenomics

Total Supply - 2 Billion HUGO Tokens

Circulating Supply - 700 Million HUGO Tokens

Smart Contract on Bscan


Roadmap

Hugo Finance Roadmap

Q2

  • Pancakeswap listing 🗸
  • CMC, Coingecko, and Blockfolio listing 🗸
  • Smart contract audit 🗸
  • DAO Platform
  • NFT Platform
  • Community incentives 
  • CEX listing
  • Community charity 
  • Voting system

Q3

  • Index
  • Hugo Games
  • NFT Collabs
  • More CEX LISTINGS
  • Community incentives

Q4

  • Community
  • Suggestions
  • more coming

The DAO and NFT features are the core of the platform and are expected to go live soon. Community incentives and charity are underway, according to information garnered from the Twitter updates. A voting system will come along with the DAO platform, all of which are scheduled.

Index funds and Hugo games with collaborations of NFTs and more CEX listings will come along with Q3 developments. Ultimately, Q4 will bring the platform to a completely community-driven one which will depend on the community and their suggestions.


In Conclusion

Community decisions and suggestions will drive the future of the blockchain. Hugo Finance aims to adopt the DAO approach with Index Funds which the community decisions will determine.

Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC, it is crucial to reference the following items, HERE and HERE.

This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

Users who wish to learn more about Hugo Finance should check out the following resources and media pages:

Website

Twitter 

Telegram

Medium

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Wilfred Victor

Ace finds himself as a blockchain enthusiast who is focused on growing with the entire crypto sector. He is an energetic and passionate writer who believes that all things are achievable.

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