HYPE Launches the World’s First Consensus-driven Social Tokenomics Experiment
Gold Coast, Australia, August 17, 2019 — The HYPE Project has launched a social experiment to test the crowd’s ability to collectively manage and control the inflation and deflation of a token.
Users are encouraged to participate in the experiment by acquiring HYPE tokens for free by joining their official airdrop and giveaway campaigns.
“We have created this experiment to test if a monetary supply’s inflation and deflation could be managed entirely by the crowd in a collective and decentralized manner,”
— said Leon, Founder of the HYPE Project.
All HYPE token holders are eligible to vote for the token’s inflation (staking rewards) and deflation (burning) rates by freezing HYPE tokens.
Voting consensus to determine the token’s inflation and deflation rates are held monthly through an off-chain decentralized application (dApp).
HYPE Token is an ERC20 token deployed on the Ethereum Blockchain and its token contract has combined two popular tokenomics (token + economics) models — staking and burning — used by renowned blockchain token projects.