Harbour, a decentralized, autonomous and community-managed token asset management system, starts its initial coin offering (ICO) in 12 days.
Conceptually, Harbour is nearly identical to the original decentralized autonomous organization (DAO) launched on top of the Ethereum protocol last year. Harbour creates a community-driven hedge fund that decides on which crypto asset to invest in, opening a market for investors that are not willing to spend much time and money in trying to establish their own cryptocurrency and crypto-asset portfolios.
Each Harbour or HRB token represents voting power for stakeholders. Holders of the HRB token can vote to decide which crypto assets will be invested in by Harbour using smart contracts.
“Each HRB token you hold gives you one vote in the DAO. Tokenholders vote on what tokens the DAO should acquire, and how many of each. Finally, tokenholders also have the power to create and vote on proposals that change the way Harbour itself works. On a quarterly basis, 75% of the surplus ETH will be distributed to tokenholders, and 25% will go back into the DAO’s holdings,” the Harbour team noted.
At the moment, the community perceives the ICO market as a bubble-like industry, with “not-so-smart-money” flowing into the ecosystem. However, in a more technical and conceptual sense, blockchain projects including Harbour are enabling infrastructures that did not exist prior to the emergence of bitcoin and Ethereum.
There are many investors and traders that are considering to establish a diverse portfolio on cryptocurrencies and crypto assets but simply do not have an idea on where and how to start. Trading platforms request customers to follow strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies and that makes it difficult for investors to establish a diverse cryptocurrency portfolio.
Harbour allows investors that at least want exposure to the asset class and the cryptocurrency market to invest in crypto assets without taking extreme risks and spending significant time in research and evaluation. Since the community and stakeholders decide on which crypto asset to invest in, Harbour’s decentralized and autonomous hedge fund will open a market for investors that are not familiar with cryptocurrencies and assets.
At the moment, the Harbour development team stated that the difficulty in establishing a decentralized hedge fund comes from automating the Harbour platform and collective decision to buy and sell tokens. Technically, it was a difficult problem for Harbour but the development team is actively investing into various methods that would allow the fund to invest in crypto assets securely and transparently.
“Harbour aims to harness the wisdom of crowds to overcome the problems of assessing DApps. With Harbour, only the collective can make decisions to buy and sell tokens, and participate in ICOs. An intelligent cross-section of the ecosystem, which Harbour will represent, that is both stable and fluid, will drive long-term value and long-term holders and significantly and positively impact the entire ecosystem,“ the whitepaper of Harbour read.
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