PulseDAO

PulseDAO ❤️


We have created an intensive FAQ to help our users understand the risks associated with the project. We want to be transparent about the risks and to make sure that our users are making informed decisions. We are also committed to compliance with all applicable laws and regulations. We believe that having an intensive FAQ is an important part of our compliance efforts. We are committed to creating a compliant digital asset. Despite our best efforts there still is inherit compliance risk due to lack of clear regulations for the ascent cryptocurrency industry.

PulseDAO has no direct affiliation with Richard Heart or any other entity, and we have not received any compensation.

The tokens are not being offered as an investment. PulseDAO(XPD) tokens serve as utility tokens designed exclusively for participation in the project's governance and ecosystem.

Ownership Interest: The tokens do not represent any ownership interest in the project or any other entity. They are intended solely for participation in protocol governance.

Regulation: Please be aware that the token is not regulated by any financial authority, and there is no guarantee of its future value. Its value may fluctuate and is subject to market dynamics.

Risk Warning: The future performance of the tokens is uncertain and could potentially go to zero. Before acquiring tokens, it is essential to understand and assess the risks involved.

Decentralization: Our project is fully decentralized, with no central authority governing it. The founding team will relinquish any active role in development and marketing post-launch. The project's management and direction are now in the hands of the community.

Community Governance: The project is entirely in the hands of the community, which has full responsibility for its governance and decision-making.

By acquiring and using these tokens, you acknowledge and accept these terms and conditions. Please conduct thorough research and consider your own risk tolerance before acquiring any tokens. If you have any doubts or concerns, we recommend seeking advice from a financial advisor or legal professional.

FAQ


Notice: the information provided is for informational purposes only and does not constitute financial advice or an offer to invest. Details are subject to change.


Why do you say PulseDAO is a "Digital diamond"?
Inspired by the original vision of Bitcoin, PulseDAO brings back the concept of a genuine and scarce digital asset in a world saturated with endless inflation and copy-pasted schemes.

By emulating and improving upon successful properties of Bitcoin and Hex, PulseDAO aims to create a fair and first-principle oriented cryptocurrency.

While 'Digital diamond' is just a metaphorical concept, it symbolizes the importance of scarcity and the restoration of the core values upon which cryptocurrencies were founded.


What is the utility for PulseDAO token XPD?
PulseDAO tokens, denoted as XPD, play a vital role within our ecosystem. They serve a dual purpose: to actively participate in securing and governing the protocol and to incentivize long-term commitment to our network.

It's important to note that XPD tokens are not intended for speculative investments or financial gains. Instead, they encourage users to engage in long-term participation, rewarding them with increased voting power and greater incentives for extended token lock-ups. This strategy aligns participants towards behaviors that contribute to the enduring success and stability of our protocol, fostering a community dedicated to its long-term viability.


How will the tokens be distributed?
(1) to the PulseChain ecosystem (HEX, T-SHARE, PLS, PLSX, INC)
(2) through mining (using time and XPD)

The great majority of the tokens will be slowly minted into existance through time deposit mining(CDs) and distribution to the PulseChain ecosystem holders in order to create a fair and widely distributed decentralized token.


What is the scope of security audit for PulseDAO?
PulseDAO is a comprehensive protocol consisting of multiple smart contracts. The entire protocol will undergo peer review by at least one independent researcher. Additionally, the contracts holding principal in PLS, HEX, PLSX, and INC will undergo a more rigorous audit conducted by at least two professional security auditing firms to ensure the safety of deposited funds.

It's important to emphasize that despite our efforts to ensure your safety, no system is entirely risk-free. The auditing process is designed to mitigate the likelihood of security breaches or bugs, but it cannot provide absolute guarantees. In the world of cutting-edge software development, there is always a slight inherent risk of software bugs, design flaws, or other technical failures.


Token Reward Process For PulseChain Ecosystem Miners
The goal of giving cryptocurrency to PulseChain ecosystem holders is to build a community and create a fairly and widely distributed decentralized currency.

The rewarded tokens can be harvested into a time-locked CD to encourage long-term thinking. If you harvest rewards directly into wallet, there will be a heavy reduction in form of a penalty. By creating certificate of deposit(CD) and time-locking your tokens you will earn mining rewards. Longer time-locks pay higher rewards and give more voting power. You are effectively rewarded for governing and securing the network.


Is my principal safe from hackers and vulnerabilities?
Reward contract will be audited by atleast 2 independent professional security auditing firms. Your principal is most likely very safe. However keep in mind that the auditors do not give any guarantees.


Rewards for HEX Locked Stakes (T-shares) has no risk
If you decide to earn rewards using your T-shares(Locked HEX CD), then there is absolutely no risk risk. The contract does not get any permissions or tokens. It just reads how many T-shares you possess, and provides you with a proportionate share of rewards.


Are there any fees charged on the principal?
At the very beginning there will be NO fees.
However, the system has in-built optional deposit and funding fees. Fees can be manually turned on through the governance process. Deposit fee is charged once, while funding fee is charged perpetually. The fees earned are taken from your principal and go towards a SMART CONTRACT, collectively governed by long term miners. This creates the possibility of creating collective wealth for the decentralized autonomous organization. Referral fees can be used to reward the adoption of the protocol.


How does PulseDAO compare to HEX?
HEX has laid out beautiful principles based on long-term preference. Both projects reward holders for their long-term commitment to the protocol. Both protocols pay yield to stakers(miners) that comes from inflation and not from other users.

Some describe PulseDAO as "HEX on steroids" because it takes the same fundamentals, but upgrades the system with far superior features and creates a digital government(DAO) for self-sufficiency and decentralization of the PulseChain network.


How does PulseDAO improve from HEX?
PulseDAO implements many new features in it's time deposits(CDs), including roll-over bonuses, the ability to transfer stake(stake marketplace support), ability to gift stake to another user, ability to change(extend) an active CD, better reward distribution, integration of reward boost events and more.

PulseDAO(XPD) token has a maximum and IMMUTABLE total supply. PulseDAO token inflation reduces perpetually. PulseDAO software can be upgraded/modified through consensus in a decentralized manner. PulseDAO users have the collective power to utilize it's treasury and allocate resources towards public goods to empower PulseChain community and society.


How does PulseDAO compare to Bitcoin?
Bitcoin became the first succesful decentralized digital asset. We try to emulate the properties of Bitcoin to create a genuine and scarce digital asset.

In a world of endless inflation and depreciating currencies, Bitcoin became a digital gold with maximum supply of 21 million Bitcoins. PulseDAO(XPD) aims to become a digital diamond with a finite and maximum total supply of 21 Billion XPD tokens.

Note that past performance is not necessarily indicative of future success.


What are some similarities to Bitcoin?
1.) Bitcoin has become digital gold.
PulseDAO aims to become a digital diamond.

2.) Bitcoin has a maximum total supply of 21 million bitcoins.
PulseDAO has a maximum total supply of 21 billion XPD tokens.

3.) Early on Bitcoin required no investment. It could be obtained using regular computer hardware.
PulseDAO will require no investment early on. PulseChain community can obtain tokens using assets they already possess .

4.) Bitcoin inflation reduces every 4 years through halvenings.
PulseDAO inflation reduces periodically through reward boost events. Short burst of high rewards is followed by a token burn and reduction of the global inflation.

5.) Bitcoin prevents centralization of mining conglomerates through validating nodes.
PulseDAO prevents potential centralization of big token holders through the senate.

6.) Bitcoin software can be upgraded through consensus (GOOD).
PulseDAO software can be upgraded through consensus (GOOD!).


How does PulseDAO IMPROVE from Bitcoin?
1.) Bitcoin is a decentralized NETWORK
PulseDAO is a decentralized PROTOCOL deployed on PulseChain network.

2.) Bitcoin miners get rewarded for securing the network and adding transactions to the blocks.
PulseDAO miners get rewarded for securing the network, maintaing the consensus and governing the protocol.

3.) Bitcoin supply could be manipulated, changed and increased through consensus (BAD!).
PulseDAO supply is FIXED and IMMUTABLE (GOOD!)

4.) Bitcoin blocks and rewards are mined every 10minutes. Transactions can take upwards of 10minutes to confirm.
PulseDAO utilizes PulseChain network. Rewards are mined roughly every 10seconds. Transactions are confirmed within seconds.

5.) Bitcoin network is ENORMOUSLY expensive to maintain and consumes TREMENDOUS energy resources. It pollutes and destroys the environment.
PulseDAO is energy efficient. There is minimal to no toll on the environment.

6.) Bitcoin mining is a complex and computationally intensive process that requires specialized hardware and software. This has made it difficult for the wider public to participate in mining, and has led to a concentration of mining power in the hands of a few large players.
PulseDAO mining is a simple process initiated between the user and the smart contract on the blockchain. This makes it possible for anyone to participate in mining, regardless of their technical expertise. This helps to create a more decentralized and equitable cryptocurrency network.

7.) Bitcoin community has little to no power in the network.
PulseDAO community has the power and control to allocate Treasury resources towards (PulseChain)public goods, the community, charitable causes, longevity research and more.

8.) Bitcoin rewards miners to pollute the environment. Miners hurt it's ability to store value as they must sell tokens to cover costs of their operations.
PulseDAO rewards the community at little to no cost. It creates the potential to allocate resources towards the empowerment of society and public goods.


How does PulseDAO compare to Traditional(Bank) Certificate of Deposits(CD)?
Traditional bank CDs(Certificate of Deposits) are considered to be low-risk and low-reward investment offered by banks. CD is a savings account that earns a fixed interest rate for a fixed period of time.

PulseDAO time deposits are NOT investments. PulseDAO CD is a trustless agreement between the user and smart contract on the blockchain. Miners mint their own rewards for securing the network. Rewards are paid from inflation.

Longer commitment to the protocol gives higher rewards. There is no central issuer and no insurance or warranty. There is no guarantee for future value of the tokens.

The yield is earned in native currency PulseDAO(XPD) and is variable. The amount of interest you earn could go up or down over time. The token is likely to be highly volatile and could go to 0.


Where do the rewards and treasury funds come from?
The mining rewards, as well as treasury funds come from inflation built into the smart contract.


What can the treasury funds be used for?
The treasury funds are exclusively designated for the creation of public goods for the Pulsechain community and philanthropic purposes, in order to comply with the laws and regulations. They cannot be used to increase the token's speculative value.


What are the risks involved?
Your principal is likely safe and you can mine PulseDAO currency(XPD) for free or at cost of fees.

However, the rewarded token itself(XPD) should be considered as highly experimental and there is inherit risk the project fails due to technical or societal issues. It might not succeed over the long term and could go to 0.

Cryptocurrencies are highly risky and volatile assets. While we do believe the system is safe and secure, there is always risk of software failure, bugs or design flaws. There are no guarantees.

The project is subject to a number of risks, including technical, regulatory, and market risks.


Is this an opportunity to make money?
This is an opportunity to participate in a decentralized protocol and acquire a new and unique digital asset.

You should have no expectations of financial returns. The primary goal is creating a scarce digital asset and a good decentralized system that brings utility to the community.

There is no promise of future value. The tokens are likely to be highly volatile and could go to 0.


Can i earn passive income with PulseDAO?
You can mine PulseDAO currency by locking up your tokens. The rewards are paid in the native currency XPD. You can earn tokens, but there is no guarantee that the tokens will have any value. You should have no expectations of financial return.


Can i make money with PulseDAO?
PulseDAO token (XPD) IS NOT an investment. It is a decentralized system designed to provide a benefit to the community. It's a community tool made to support the development of public goods on the PulseChain network. There is no expectation of financial return. However, if you will decide to invest in the PulseDAO token, you should only invest money that you can afford to lose.


Should i buy the PulseDAO (XPD) Token?
We want to give the PulseChain community an opportunity to acquire a new and unique digital asset FOR FREE. We encourage you to mine our token for FREE.

If you decide to buy the tokens, do so at your own risk and responsibility. They are likely to be highly volatile and could go to 0.
Only risk what you are willing to lose.

The project team is not responsible for any losses that may be incurred by anyone who purchases the tokens.


What is "The Senate"?
The senate consists of members where 1 member = 1 real person. It's incorporated as a means of further decentralizing the network and preventing big token holders from gaining control over the protocol.

The senate has the power to veto all governance and treasury requests. Senate members receive the ability to redeem a portion of voting credit to their wallet with each token published.
The role of the senators is to SECURE and further decentralize the network.

They must represent and protect the interests of the public.

This mechanism has some similarities with the concept of Bitcoin validating nodes - which serve as a means to prevent the miners from getting control over the network.


How to become a member of the senate?
We believe the best senator members would be public and trusted members of the PulseChain community.
Ideal number of senators would be 50-100 members. You should contact your favorite twitter influencers to apply as a senator.
If you can provide value to the PulseDAO, you can apply as well. Twitter/Telegram account is required.


Why pursue PulseChain community to become a member of the senate?
The goal of senators is to serve and act in the interest of the public and the PulseChain community. To make sure the currency is distributed in a fair manner to a wide array of participants.

PulseDAO miners will naturally seek to to decrease allocations towards(PLS, PLSX, INC, HEX, T-SHARE) as that increases their own rewards. The senators serve as a balancing act to protect and reward the PulseChain community as a whole.

Senators have the power and influence to protect the interests of PulseChain community. There are only benefits to being a senator with little to no downside.


What expectations can i have from the founding team?
It is very important to understand that we had to put hard work and countless into bringing the project to fruition. We were not motivated by financial motives. We were not marketing in attempt to raise as much sacrifice funds as possible. Instead we were committed to building a great product aligned with the core values and fundamentals upon which cryptocurrencies were founded.

This is our GIFT to the community. The protocol is now fully launched. There is no future work or effort from the team. As a finished&complete product you should have NO expectation of work or effort from the founding team post-launch. When tokens are distributed, the minting process will begin and the protocol will be fully decentralized. The project becomes full responsibility of the community. There should be no expectation of future work or promotion from the founding team.

The only role of the founding team post-launch can be of educational nature. At our best effort we will attempt to educate users and provide information about the technology and functionalities of the system.




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