HOPE has now officially landed on the Ethereum mainnet

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HOPE has now officially landed on the Ethereum mainnet

HOPE ⚡️

2023-04-19 14:51

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$LT rewards will be released after 8:00 am on April 20, 2023 (UTC+8).

HOPE is now live on the Ethereum mainnet. HOPE is a one-stop DeFi ecosystem based on the native encrypted distributed stablecoin $HOPE. Following a successful public testing phase, the protocol and features including HopeSwap, $HOPE staking, and the DAO are now officially rolled out to all users. $LT rewards will start releasing after 8:00 AM (UTC+8) on April 20, 2023.

This major milestone was achieved with the support of Coinbase. Coinbase is one of the largest and most compliant custody providers in the world. As the first custody provider in the $HOPE distributed reserve network, Coinbase enables $HOPE investors to securely hold their assets in the hands of reputable, independent and regulated custodians in a non-hybrid fashion.

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1. HopeSwap

1. Asset Swap

HopeSwap is the portal for mass users to enter the HOPE ecosystem. Users can use mainstream encrypted assets to obtain $HOPE and $LT through the AMM on the chain.

2. Liquidity pool

Users can provide liquidity to existing trading pairs, or create new trading pairs to earn 50% of the fees generated by HopeSwap.

3. Liquidity mining

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2. $HOPE Staking

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3. DAO

1.veLT

$LT holders can lock $LT for a period of time to obtain veLT (vote-escorted LT). The amount of veLT available to users is proportional to the lock time. For example, locking 10,000 $LT for 1, 2, 3, or 4 years can get 0.25, 0.5, 0.75, or 1 veLT respectively.

veLT holders will have reward bonuses and governance voting rights.

2. Bonus bonus

Depending on how much veLT you hold, you can earn up to a 2.5x multiplier on your $LT rewards.

3.Gauges

The distribution plan of $LT rewards is determined by its corresponding Gauge weight, and the Gauge weight will be updated after each voting cycle.

4. Current liquidity pool rewards

Currently, the following liquidity pools can obtain $LT reward distribution according to the corresponding Gauge weight

• $HOPE staking

• LP-$HOPE-$USDT staked

• LP-$LT-$USDT staked

To learn more about Gauges, read ourdocument。

5. Governance rewards

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$LT release plan

$LT is the incentive and governance token of the HOPE ecosystem, which is used to motivate users to provide liquidity and participate in governance within the HOPE ecosystem.

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Initial Supply: 40%

• 30% will be gradually released to investors and teams within 4 years, and all generated $LT will be locked again for 4 years to generate veLT to participate in governance.

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remaining 60%

• Will be released according to a piecewise linear schedule, with the inflation rate reduced by 1/8 per year.

• The inflation rate for the first year is approximately 23.87% compared to the initial supply, or 261.59 million $LT per day.

• $LT rewards will start releasing after 8:00 am (UTC+8) on April 20, 2023.

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Future plan

Community governance is critical to the growth and development of the project. Next, we will introduce on-chain and off-chain governance proposal voting mechanisms. veLT and $LT holders will have the opportunity to make comments and suggestions on various aspects of the HOPE project, and vote on many major governance proposals.

In addition, please look forward to the upcoming HopeLend and HopeConnect, which will provide a full range of application scenarios for $HOPE, help $HOPE become a universal collateral, and eventually develop into a global payment tool.

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