Cointorox Re-branding & Token Swap

HYPE
HYPE
Jul 9 · 4 min read

We are glad to announce that we will be completely re-branding from Cointorox (OROX) to Hype (HYPE).

Token Swap

Token Swap Address: 0xcEAeBB750d0f1E553818552Ad15b7531312433d9

Simply send OROX to the address above & you will receive HYPE at the end of the token swapping campaign.

Token Swap Campaign Period: July 8 — August 31

  1. Please only send tokens from wallets as the new tokens will be sent to the address you have used to send OROX
  2. There is a date-based ratio swap. Please send OROX to the Token Swap address as soon as possible.

*Snapshot of all OROX holders will be taken on July 14 00:00 UTC, in case anybody misses the swap.

HYPE TOKEN DETAILS

Initial Supply: 50 million HYPE

Max Supply: 100 million HYPE

Token Contract Address: TBA

RATIO FOR SWAP

BEFORE JULY 14 (1 OROX : 5 HYPE)

For every 1 OROX you will receive 5 HYPE. (UNTIL JULY 14 00:00 UTC)

AFTER JULY 14 (1 OROX : 0.1 HYPE)

We expect the value of OROX to decline rapidly in the next coming few days as traders leave and as we liquidate our remaining team tokens. Hence, the ratio will be applied for any swaps done after JULY 14. Any OROX sent AFTER JULY 14 is only eligible for a 1:0.1 swap.

Meaning, for every 1 OROX sent, you will receive 0.1 HYPE only.

READ THE FULL WHITEPAPER HERE: https://medium.com/@hypetoken/hype-whitepaper-c2945381574e

Hype is an experimental ERC20 token deployed on the Ethereum Blockchain which will have deflationary (burning)+ inflationary (freezing rewards) features integrated within the token contract.

All HYPE holders will be able to collectively determine the burning % and freezing rewards % on a monthly basis through a consensus made monthly via a dapp/form.

Decentralized Tokenomics

All HYPE holders who have frozen their HYPE tokens are eligible to cast votes on the token’s staking + burning rates on a monthly basis. ‘Melting Period‘ is also determined by HYPE holders on a quarterly basis.

Voting weight for an address is determined by the total number of transfers made by the address + total token freezing period of an address. This makes the voting weight to be focused more on real users of the project who are actively participating in transferring and freezing tokens. This allows the voting weight to be distributed much more equally between users, regardless of how many tokens they hold.

This makes HYPE token a truly decentralized & user-driven tokenomics experiment whereby HYPE holders can fairly determine the future of HYPE in a collective manner. Consensus will be made off-chain through a voting dapp/form.

Deflationary Feature

Each time a user transfers HYPE, x% of the total transferred amount is sent to a ‘BURN ADDRESS’. Burning rate will change on a monthly basis between 0.150% through the monthly HYPE holder consensus (verified holders vote for the month’s burning rates).

Inflationary Feature

Users can ‘FREEZE’ their HYPE tokens by interacting with the Token Contract. By freezing HYPE, users are entitled to receive daily staking rewards. New staking rates will be determined on a monthly basis by HYPE holders through the monthly off-chain consensus event.

Waiting Game

Possible Melting Period: 24–168 hours

When users ‘UNFREEZE’ their tokens to receive initial amounts + compounded rewards, there is a ‘MELTING’ period of x hours. Meaning, users will be able to spend their HYPE tokens only after x hours have passed since the time they unfroze their frozen tokens. Melting period changes on a quarterly basis (every 3 months) through the off-chain consensus event.

INITIAL RATES

What happens to the Cointorox Ecosystem?

All Ecosystem Platforms will remain & the on-going developments for AI trading signals and bot will continue under HYPE. However, the main focus of HYPE will be in the experimental token contract. Ecosystem will only provide use cases for the token.

HYPE

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HYPE

The World’s First Consensus-based Token Allowing Users to Collectively Experiment with Inflationary & Deflationary Rates via Monthly Votes (Burn-Freeze-Melt).