Review on Hype Token by gregori cordova
An idea that advocated decentralization and innovation that did not have much credibility
The Hype token based on the Ethereum blockchain was one of the most innovative projects that tried to go on the market. It was a token that combined one-of-a-kind inflation and deflation models, to experience the tokenomic models (burning of tokens) plus (freezing rewards), through a consensus system in which the holders of the Hype token would determine the rates. of Burning + stake monthly in an off-chain voting process that would be carried out by the same holders who have frozen the token. the longer you staking, the more voting power you will have and the greater the rewards you get daily
basically these processes consisted of a 5% burn for each transfer when sending hype tokens to another person, (deflation) and a daily 5% rewards to users who staked the currency (inflation)
It was an experiment that advocated for total decentralization, and had a dedicated team and community where its members were rewarded for their contributions to the growth of the project.
But they did not have a White paper or technical documents to clarify doubts about how to achieve all their ambitions, and the project was losing credibility, until it was considered an abandoned project, because they closed their website, and their social networks, leaving users who staked the coin, without the possibility of withdrawing their winnings.
Pros
- Nothing important to add here
Cons
- Lacking solid support from investors, the project was abandoned
- They did not have a clear roadmap, to achieve everything they promised
- They had a very low liquidity in the market
- The creators of the project deleted their profiles on social networks after closing the website
- The project was delisted from coinmarketcap as it did not have any type of movement in the market
