$HODL Token is an ESDT token issued on Elrond Network. Elrond is one of the most advanced and secure blockchains within the space with second biggest community. We decided to launch $HODL on Elrond as it’s fast, secure, scalable and easy to build on. It’s worth mentioning that transactions on Elrond are cheap and only cost a few cents. $HODL token is meant to be hodl’ed not traded! That’s why we came up with a very interesting & unique token distribution mechanism which is fair, anti-whale, fun and simple in nature. We are going to leverage NFTs on Elrond as an distribution vehicle for the $HODL Token! $HODL is also scarce in nature and has incentive mechanism build in it. $HODL token is designed to accrue value to investors over time by leveraging Elrond De-Fi, the longer you hodl the more wealth you will be able to accumulate! There is also another incentive to hold $HODL in your wallet and that’s the daily rewards to one lucky NFT owner that are picked at random.
As an $HODL Token owner you will be participating in De-Fi, Yield Farming and Staking without even knowing about it. All what you need to do is… just hold $HODL in your wallet. If you are new to crypto and you don’t know De-Fi, Yield Farming or Staking, $HODL will do it for you!
$HODL Token can’t be purchased directly, we decided to use an NFT lottery system to distribute $HODL Token. This measure has been taken to stop whales buying up large portions of small supply tomake distribution fair and have some fun 🙂 How will it work then? It’s simple, there will only be 10,000 NFTs created and 1,000 $HODL Tokens hidden inside them. Purchases will be limited to 10 NFTs per wallet, per round. Therefore odds will be 1/10. There will be 10 selling rounds, each round price will increase by 0.1 $EGLD, early investors will be highly incentivised. Here is detailed schedule:
75% of $EGLD collected during the NFT distribution phase will form the Community wallet which will be owned by $HODL Token hodlers. This will equal to 4,125 EGLD. These funds will be used on Maiar Exchange to farm $LKMEX ($MEX at latter stage) and generate yield to $HODL Token owners.
The incentive for NFT holders will be 24hrs worth of $LKMEX rewards generated by MEX/LKMEX Staking Farm on Maiar Exchange, where 60% will be used for daily raffles called #GiveawayEveryday, 30% for re-staking to boost Staking Farm growth, 5% will be used for marketing and brand promotion, remaining 5% will go towards project management. Daily raffles will be drawn from “Galactic Hodler” NFT collection to add utility and to reward the Hodl Club members and as well NFT owners who weren’t lucky enough to mint an NFT with the $HODL attribute. It’s win/win situation.
On top of above rewards, 75% of royalties from NFT’s trading will be added to Community wallet and staked to secure Elrond Network protocol. Rewards generated from staking will be periodically added to the #GiveawayEveryday prize pool to benefit Club Members.
Yes, there will be calculated price tag for $Hodl Token and it will be actual value accrued over the time since farming starts. This value might change on daily basis, same as all tradable tokens / coins listed on CEX or DEX’es. We will be providing daily updates on value of $HODL Token on social media, our website and our Telegram Channel.
There is no fixed Road Map, there is DAO instead, we will forge our own path through on-chain voting mechanism. We will decide on our investment strategy (we might decide to use part of our funds to make another investments) or even End The Game, if more than 50% HODLER’s vote for exit, we will liquidate Community Wallet to USDC (stable $ coin) and distribute equally among all investors proportionally to their $HODL holdings.