HYPE — The World’s First Consensus-based Inflationary + Deflationary Token

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HYPE was created as a social tokenomics experiment to allow users to collectively control the inflation and deflation rates of a token. HYPE is the world’s first decentralised and consensus-based inflationary + deflationary token.

Token Name: Hype

Token Symbol: HYPE

Decimals: 18

Initial Supply: 50,000,000 HYPE (50 million HYPE)

Maximum Supply: 100,000,000 HYPE (100 million HYPE)

Token Contract Address: TBA

Distribution: 100% Airdropped

DISCLAIMER: HYPE is an ERC20 token deployed on the Ethereum Blockchain. It does not hold any intrinsic value nor should it be treated as a currency. HYPE is simply a mathematical tool to help users measure inflation and deflation numbers. By getting the tokens for free through airdrops, you agree to join the collective free-for-all and open-source experiment.

Inflation within the HYPE experiment refers to the ‘INCREASE’ in token supply. This is reached through ‘minting/creating’ new HYPE tokens as ‘Freezing Rewards’.

Deflation within the HYPE experiment refers to the ‘DECREASE’ in token supply. This is reached through ‘burning’ a certain % of existing HYPE tokens whenever a transaction/transfer is made.

For instance, if John sends 500 HYPE to Alice, x% of the transferred amounts (500 HYPE) will be burned. Therefore, Alice will only receive 500 — burned amounts of HYPE.

Consensus within the HYPE experiment refers to the ‘Voting Events’. All HYPE users are eligible to participate in the voting events by simply freezing their tokens.

Voting Weight (vw) refers to your ‘voting power’. The more voting weight you have, the more ‘voice’ your vote carries.

EXAMPLE:

  1. Users A, B, C, D, E each have 10 voting weights. (50 vw in total)
  2. They all vote for the month’s burning rates to be 1% per transaction.
  3. User F has 60 voting weights and she votes for the burning rates to be 10% per transaction.
  4. Voting Results = “10% burning rates per transaction” as it has the most voting weights accumulated on it.

How is Voting Weight (VW) calculated?

We have ruled out ‘amount of tokens’ from the equation to provide fair incentives to all users who are actively transferring and freezing HYPE regardless of the amounts.

VW = ‘x’ number of hours spent on frozen status

Voting weight for your address is accumulated from Day 1 of your HYPE Experiment. The longer you use a single address to freeze and unfreeze HYPE, the more voting weight your address will carry over time.

  • Who is eligible?
    All HYPE holders who have frozen tokens
  • What is voted?
    Upcoming month’s burning % and daily freezing rewards %
  • How is it conducted?
    1. Eligibility is validated through a dapp (decentralised application)
    2. Voting weight is calculated automatically
    3. Votes are recorded & revealed at the end of the campaign
    4. Changes made to the token contract’s
    burning % and freezing rewards %
    5. Repeats every month
  • When is it conducted?
    Voting Round begins from the 20th-27th (00:00 UTC) of each month
    Votes are reviewed and revealed on the 28th (00:00 UTC) of each month
    Changes are made on the 1st day (00:00 UTC) of each month
  • Who is eligible?
    All HYPE holders who have frozen tokens
  • What is voted?
    The ‘Melting Period’ of the next 3 months
    (time required to wait until tokens are spendable after unfreezing)
  • How is it conducted?
    1. Eligibility is validated through a dapp (decentralised application)
    2. Voting weight is calculated automatically
    3. Votes are recorded & revealed at the end of the campaign
    4. Changes are made to the token contract’s
    melting period
    5. Repeated every 3 months
  • When is it conducted?
    Voting round begins from the 20th-27th (00:00 UTC) of the voting month
    Votes are reviewed and revealed on the 28th (00:00 UTC)
    Changes are made on the 1st day (00:00 UTC) of the consecutive month

By freezing HYPE tokens, the user will not be able to send his/her tokens to anybody else. So… why bother freezing? When a user freezes HYPE, they are able to increase their ‘Voting Weights’. In return for freezing to participate in the voting events, the user will receive rewards (minting new HYPE tokens) on a daily basis — which contributes to the overall INFLATION of HYPE’s token supply.

Whenever a user unfreezes his/her HYPE, the user is required to wait ‘x’ amount of hours before he/she can spend the frozen HYPE once again. This is a measurement implemented to allow users to ‘have a second thought’ before sensitively reacting to vote results, supply movements, and many other factors involved in the experiment. It will also serve as an important point to consider before users decide to contribute to the overall inflation of HYPE’s token supply.

Deflationary tokens have become a trend thanks to Bomb Token, the world’s first deflationary token social experiment. Thanks to this innovative approach, many projects were able to create deflationary tokens with their own attractive (or sometimes ridiculous) deflationary rates.

We wanted to create an experiment which was more unique and innovative. An experiment which gets users more involved, provides more collective experiences and learning curves. HYPE is more dynamic in the sense that users get to collectively test and experience the results first-handedly.

The HYPE social experiment can only move forward with the help of your involvement. Vote, control, experience and learn the world of tokenomics first-handedly with HYPE today.

DISCLAIMER: HYPE is an ERC20 token deployed on the Ethereum Blockchain. It does not hold any intrinsic value nor should it be treated as a currency. HYPE is simply a mathematical tool to help users measure inflation and deflation numbers. By getting the tokens for free through airdrops, you agree to join the collective free-for-all and open-source experiment.

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