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Hdac Community Meet-up

Dear Hdac Technology supporters,

Please take a moment to read the summary of our recent meeting with the community.

■ Regarding PoS Conversion Schedule

The development of the new mainnet will be completed in March. After this, we will have a period of testing for the validators and DApps. We will announce the specific date of completion after discussing with the validators.

■ Ecosystem for the New Mainnet

When a coin holder stakes their own coins, the holder will be able to hold as many votes as the number of coins that they have staked. Using such votes, the holders may delegate their stakes to a specific validator.
A validator takes rewards that is incurred through the block generation and share the rewards with holders who have delegated their stakes to it.
In other words, compared to the previous ePoW ecosystem where only the miners were able to take all the compensation, under the current system, the holders can receive rewards similar to bank interests by staking the coins they hold and delegating them to the validators.
When the validators distribute to the holders the rewards is incurred through the block generation. The distribution ratio is to be determined in accordance with the validator’s policies. Some validators could split them 1:9, and others could distribute them 4:6.
Holders could freely select the validators to delegate their stakes, deposit, and cancel the decision at their own will.
The validators will not be selected by Hdac, but they can participate in the ecosystem at their own will, and Hdac plays the role of evaluating the applicants’ reputations, roles, ethics as well as proposing minimum guidelines.

■ Coin Economy

The total supply will remain the same at 2.85 billion coins, and the coins to be newly issued each year will be determined in accordance with the inflation rate.
The inflation rate is set at 5% in the beginning, and the current number of coins distributed is about 2 billion coins, therefore, about 100 million coins, equivalent to about 5% of the current number of coins, are newly issued annually.
The inflation rate may be changed in accordance with future governance, namely, the agreement of validators and holders. In other words, the holders will directly participate in the governance of the ecosystem and may receive reward.

■ Company’s Stake

The company’s stake is 7% of the initial total supply of 12 billion coins, which equals 840 million coins. Now that the total supply has been reduced to 2.85 billion, the company now holds about 29% of the total supply.
In light of the spirit of decentralization of blockchain, this percentage may be considered to be excessive, thus, we are considering different ways of reducing the company’s stake.
However, since Hdac coin is not a security coin but a utility coin, our decision will have to be conditioned on sufficient review of relevant regulations.
The participants should be able to grow with the company, and we are planning to think about various ways and apply them designing the new coin economy.

■ Securing Coin Utility — DApp

The Heriot apartments will be occupied starting in September this year. As the direct payment method using cryptocurrency is legally restricted, we will promote a payment method using the ‘point’ system. We will be equipped with the technologies and system for direct payment with cryptocurrency and apply them immediately after the restrictions are lifted.
We are currently discussing to cooperate with 10 to 15 DApp entrepreneurs. We are reviewing both the service and the coin economy, and are under discussion with services in various areas such as travel, education, pets, games, and etc. We are planning to operate one or more flagship DApp(s) upon the launch of new mainnet.
We are planning to create coin utility by adding high quality DApps.

■ Private Blockchain Businesses

We are under discussion to cooperate with businesses that already own solutions (platforms). The development with I&Tech, which was covered in the previous press release, will be completed and the services will be launched during the first half of this year; and we are also discussing with INCA Internet, a security solution enterprise, which was covered in the press release today (January 16).
In the case of Hyundai Motors Group, the PoC is almost completed and under internal review, and we are discussing business with the construction/IT company (company with the name of initial “I”) as well.
Unlike the past, we are publicizing events only when the actual development has begun, not at the point of entering into MOUs with other companies. As for previous MOUs, we are continuing to discuss different points of collaboration as well.

■ Others

We are clearly aware of all of the requests through the Telegram channel, etc., such as the subjects regarding company’s stake, correction of CMC, and so forth, and putting in a lot of thoughts and efforts in making better choices for those matters.
We do have plans for marketing, exchange listing, etc. The representative officer of the Korean branch himself has been getting involved in analyzing data and establishing personal networks to make them happen.
However, we are maintaining all of these matters strictly confidential even within the company. We would appreciate your understanding as we are unable to disclose the details such as specific timeline.
What we can share with you at the moment is that we are seeking win-win solutions for both the holders and the company. We will reflect such solutions in designing the new ecosystem and coin economy, and we are planning to come to a resolution through various methods and not just one method.
The next meeting will likely be before or after the event for the mainnet launch.

Any question or recommendation would be welcome on Telegram! There will be more updates and events announcement on the Medium blog for the Hdac community.

Please refer to the following links and stay in the loop.

*Website : https://www.hdactech.com
*Medium : https://medium.com/hdac
*Facebook : https://www.facebook.com/hdactech
*Twitter : https://twitter.com/hdactech
*Youtube : https://www.youtube.com/channel/UCGQXVXTs7RllAirD3YjjZIQ
*Github: https://github.com/Hdactech

*Telegram(KR) : https://t.me/Hdac_Official_KR
*Telegram(EN) : https://t.me/Hdac_TGE




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