Introducing the HashCoin — A New Standard of Passive Utility in CNFTs
Hello friends and future HashGuardians!
In our previous article, we discussed the HashBox and its utility within the HashGuardians universe. Today we are going to dive into HashCoins, the principal element of our HashGuardians rewards system.
HashCoins are the primary reward for HashGuardian owners and set a new standard of passive Cardano NFT utility. Let’s take a look at the idea behind HashCoins, how to earn them, and what they will do for you!
Be sure not to miss the final section with important details regarding our upcoming 2x HashCoins distribution!
The HashCoin Concept:
HashCoins are a result of our love for the Cardano blockchain. In the same way that ADA holders are rewarded for staking ADA, we want to recognize loyal HashGuardian holders with a similar benefit. One of our fundamental goals within the HashGuardians universe is to establish a committed, loyal community, and rewarding that loyalty has always been a part of our plan.
HashCoins will function as the native token for all HashGuardians related projects. They will be our in-game currency, and can be actively earned and spent while playing the HashGuardians game. Beyond this, we are using HashCoins to bring real world, passive utility to our HashGuardian NFTs.
There are two methods of earning HashCoins: actively (by playing the game) and passively (by HODLing HashGuardians). For this post, we will focus on the second method: ownership.
As a staking reward for our NFT holders, each owner will received 100 HashCoins in their HashGuardians account, every month. That’s it. 100% passive utility just for holding your HashGuardians.
But we aren’t going to stop there.
We are rewarding holders with 100 HashCoins per month, per HashGuardian owned. Do you have 3 HashGuardians in your wallet? That’s 300 HashCoins each month!! The math is simple, and it looks a bit like this:
There is no upper limit to this reward. The more HashGuardians you have in your collection, the more HashCoins you will receive every month. It is as simple as that. Just make sure the wallet holding your HashGuardians is linked to your account on our website and you log in after the distribution snapshot to claim your monthly reward.
Now, let’s take a look at the really exciting part — what can we do with HashCoins?!
Utility Utility Utility:
Phase 1: The Now
As the native token of the HashGuardians universe, we are creating as much utility around HashCoins as possible.
With your HashCoins, you will be able to:
· Buy in-game items to aid your progress throughout the game. This includes weapons, armor, gadgets, clothing, and more.
· Buy HashBoxes for a chance at earning additional NFTs, extra HashCoins, and other unique items. Perhaps even a rare NFT from a collaboration event?!
· Pay for future NFT mints. HashCoins will be accepted as payment for any future HashGuardian related NFT mints.
Yes, you read the last line correctly. For any future HashGuardians related NFT mints, you will be able to mint NFTs directly with HashCoins instead of ADA. As these NFTs (as well as those dropped by HashBoxes) are standard, on-chain NFTs, you will be able to sell or trade them on the secondary market.
This means the passive HashCoin-earning utility of HashGuardian NFTs can be directly linked to an ADA based secondary market.
And that is not the end…
Phase 2: The Future
As mentioned previously, the reward system around our HashGuardian NFTs is something we have planned from the beginning. Everything, from our country of business registration to our choice of legal counsel, has been done with a focus on the utility of our HashCoins.
Our ultimate goal is to see HashCoins become an on-chain, native Cardano token. This would allow for HashCoins to be purchased (or sold) via an exchange or DEX using ADA.
There are many legal and financial implications to this, and we are currently working through them with our legal team. This will not be a rapid process, and we want to ensure that our licenses and registrations are in 100% compliance with local regulations.
For now, HashCoins will be used exclusively within the HashGuardians ecosystem as described in Phase 1. On-chain tokenization in Phase 2 will remain a priority in our development, and as we move closer to this goal, we will work directly with tokenomic professionals to implement a sustainable economic plan for on-chain HashCoins. More information regarding this will be provided at that time.
So, WEN HashCoins?
Once you own at least one HashGuardian, you will be able to connect your wallet to our website. The first wallet snapshot for distribution will happen at 00:00 CEST, Nov 1, 2021. Please have your account registered and wallet connected no later than 23:50 CEST on October 31st. Be sure to log in to your account after the snapshot to claim your HashCoins for the current month.
Additional HashCoins will be distributed each month thereafter, with a new wallet snapshot taking place at 00:00 CEST the first day of each month. Users will be able to claim their HashCoins on any day of the month, but you will only be able to claim rewards for the current month. There will be no way to claim HashCoins left unclaimed from previous months.
For HashGuardians that are purchased (or sold) on the secondary market, the wallet of holding at the time of the monthly snapshot will receive the associated HashCoin distribution for that month.
So, what about this rumored 2x HashCoin Drop?!
In order to celebrate our first HashCoin distribution on November 1, 2021 and reward our community for their patience, we have decided to double the first distribution of HashCoins. For this drop only, you will be able to claim 200 HashCoins for every HashGuardians NFT in your linked wallet!
We are very excited about the future utility of HashCoins and the HashGuardians universe. Be sure to stop by our Discord channel and say hello. As always, we welcome any suggestions you might have. Thank you for taking this journey with us, and we look building our community together!
Got Questions? Come and join the conversation!
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Stay tuned for more and thanks again for your support!