Harbour is a community-governed DAO based on Ethereum. Find out how Harbour works today in our review.
What Is Harbour?
Harbour is an Ethereum-based DAO that recently launched online at Harbour.tokenate.io. The goal of the decentralized autonomous organization (DAO) is to manage and hold token assets by harnessing the wisdom of the crowd.
Basically, Harbour’s goal is to invest in a basket of digital currencies with the goal of making money for investors. The community will decide how to allocate the fund based on a democratic voting system.
The organization is preparing for its ICO in August, during which investors will be able to purchase HRB tokens.
All decisions for the DAO are made by users, and any Ethereum generated by the DAO is distributed back to token holders on a quarterly basis.
Overall, the organization describes itself as “the smartest, safest, and most convenient way to get involved in the blockchain ecosystem.” The organization is based in Zurich, Switzerland. The developers released their whitepaper in July 2017, which included full technical details for how the DAO will work and how decisions will be made by the community.
How Does The HRB Token Work?
Harbour’s ecosystem relies on the HRB token, which will launch to the public in August 2017 through the Harbour ICO.
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 token it should acquire.
Token holders also have the power to create and vote on proposals that change the way Harbour works as an organization.
Every quarter, 75% of the surplus ETH will be distributed to token holders, while 25% will go back into the DAO’s holdings. These percentages may be changed in the future according to democratic vote.
There will be no additional fees regarding Harbour outside of gas costs. The development team plans to keep expenses to “a bare minimum.”
The Harbour ICO
Harbour’s ICO for its HRB tokens is beginning on August 1 at 16:00 GMT. The ICO will end on August 31, or once a cap of 10,000 ETH is reached.
During the crowdsale, you will receive 15 HRB for each 1 ETH you contribute. 150,000 HRB can be created during the crowdsale and distributed to participants.
If the cap isn’t reached, all funds will be returned.
Another 500,000 HRB will be created at a later date to raise more funds. However, there will never be more than 650,000 HRB in existence. Of those 500,000 created in the future, 350,000 will be made available for sale, 50,000 will be reserved for improving Harbour, and 100,000 will go to the development team in lieu of salaries.
Who Created Harbour?
Harbour was created by Co-Founder and CEO Dean Eigenmann, Co-Founder and CSO Dylan Dewdney, Co-Fouder and CIO Nick Jorens, and Co-Founder and COO Klajdi Ciraku.
Eigenmann is also the principal and co-founder of the Tokenate Foundation. He has a background in software development and appears to be based in Switzerland. Dewdney is a Canadian business development specialist who is also listed as a principal of the Tokenate Foundation and co-founded MobileEyes in October 2016. Jorens, another principal at the Tokenate Foundation, has a background in software development.
The development team is based in Zurich, Switzerland. The company released its whitepaper in July 2017.
Conclusion: Should You Join Harbour?
Harbour is a decentralized autonomous organization preparing for its ICO that takes place throughout the month of August. The organization will invest in a variety of cryptocurrencies. Investment decisions will be made collectively by anyone who holds Harbour tokens (HRB). The more HRB tokens you hold, the more votes you have, and the more profits you can earn through the organization.
You can learn more about the community-governed, Ethereum-based DAO by visiting Harbour.Tokenate.io today.