Q4-2020 Non-HUNT Revenue Burning
HUNT Network has been running a unique token model called HUNT Token Burning System since May 2020. As more of the DApps on HUNT Network gain a revenue stream, it is designed to increase the value of HUNT token by 1) promoting the HUNT token usage with a zero-fee structure, and/or 2) burning more HUNT tokens from non-HUNT-related revenue.
HUNT DApps in the burning system
Currently, we have two DApps that contribute to the burning system.
Nomadtask is an on-demand marketing task marketplace. 10% of the revenue fee from the non-HUNT payment methods used on the Nomadtask platform are converted to HUNT tokens and burnt on a quarterly basis.
Neverlose.money is a gamified HODL protocol on Ethereum that pays a bonus to the winners with the losers’ penalty. People can lock-up their crypto asset for a set target period (3 months to 10 years). They can withdraw their funds at any time regardless of the lock-up period, but a 10% penalty and 3% treasury fund will be deducted if they withdraw the fund WITHIN the set lock-up period. This penalty will be shared among other users (as a bonus) who are maintaining their active HODL assets. The 3% treasury fund will be converted to HUNT token and added to the quarterly HUNT burning system.
- The total number of signed-up users has increased by 47.67%.
- Sales revenue increased by 64.69%.
- 38.60% of the makers are repeat purchasers.
- 26.42% of the total purchases have been made with HUNT tokens.
2. Neverlose.money (Dec 15 - 31, 2020)
- The total value of locked-up assets has reached over $1,200,000.
- The average lock-up period is 94.2 months (7.85 years) and 76.8% of the total value is locked-up for 10 years.
- Over $5,800 bonuses have been generated from 14 broken assets.
- Over 13 million HUNT tokens are locked in Neverlose.money, which is about 11% of the total supply in circulation.
HUNT tokens burnt for this quarter
Today we burned the tokens for the fourth quarter of 2020 which is from October 1 - December 31, 2020. The total amount we burned is 96,994 HUNT (worth $6,478 USD as of January 1, 2021, 00:00 UTC). You can see the burning records here - https://etherscan.io/tx/0x02f30992b3e526ec030ced44ef368aed4b5e2d21ba4d68cc68aab9268cddc2d5.
Allocations from each DApp:
- Nomadtask (the 10% non-HUNT fees): 70,392.239 HUNT
- Neverlose.money (the 3% treasury fund): 17,483.496 HUNT
Here is the token burning history so far:
- 1Q-2020 (Feb 1 - Mar 31): $2,672 (1,311,205 HUNT)
- 2Q-2020 (Apr 1 - Jun 30): $5,126 (1,868,664 HUNT)
- 3Q-2020 (Jul 1 - Sep 30): $6,123 (112,357 HUNT)
- 4Q-2020 (Oct 1 - Dec 31): $6,478 (96,994 HUNT)
You can find the burning records via https://token.hunt.town/.