What is the utility of $HST token?
#HelloUtility
Before diving into the utility of the $HST token, let’s find out where this token comes from and what is the higher purpose.
$HST is the native token of HeadStarter, the Accelerator and Launchpad of the Hedera Hashgraph Ecosystem.
Hedera is a Layer 1 decentralized network that has always stood for decentralization and building value for the long run.
HeadStarter is bringing trust, utility and retail adoption through is due dilligence process that focuses on selecting and nurturing the most innovative, impactful and promising projects that are being built on Hedera, connecting them with loyal communities and decentralized funding and supporting them in all the areas they need a hand to accelerate their growth.
The purpose is to create an ecosystem that is bound to revolutionize DeFi, GameFi, Tokenization of RWA, DePIN, AI and application specific projects because of its unique set of protocol hallmarks.
Our product is a vital component that provides the ability to democratize traditional financing models in the web3 tokenized world of today, but also make it widely accessible and tangible like never before. We have assembled an end-to-end decentralized platform with integrated regulatory friendly token sale rounds, publicly auditable functionalities and educational support mediums.
The main utility of the $HST token came in the form of enabling eligibility for IDO participation.
Additional utility was developed further like:
- Voting Power — by holding $HST you can participate in the governance of the HeadStarter Ecosystem, your vote having the weight proportional to the number of tokens you hold
- Staking Rewards — an incentive to hold the tokens and secure the network while earning rewards
- Yield Farming — you can participate in liquidity pools and yield farming activities with $HST tokens for increased liquidity and engagement, all leading to higher return
- Access to IDO, INO and Private Sale rounds — gain early access, priority access and preferential rates, enhancing your investment opportunities
- Community Engagement and Contributions — earning HST tokens as compensation for active participation in the HeadStarter community, contributing to discussions, submitting proposals and engaging in marketing efforts
Also there is more utility to come in the future.
Distribution is also another important aspect of the $HST token and it goes like this:
- Pre-Seed — during the Pre-Seed Round a portion of the $HST tokens were allocated to early investors who supported the project in the initial development phases
- Public Sale — during the Public Sale, there have been 13.8 Million $HST tokens distributed through the $HST IDOs, tokens which had various vesting periods at values between $0.008 and $0.01.
- There was also an INO where HeadStarter issued Utility NFTs that may be used across the platform as part of an INO event
- Development Fund — a reserve of tokens is set aside for ongoing development, marketing, and operational expenses.
- Grants and Bounties — tokens are allocated for grants and bounties to incentivize community contributions and support new initiatives within the ecosystem
- Vesting Period — additional tokens are offered to private investors and strategic partners to raise further capital during Seed & Private Sale, with the tokens being fully vested by the end of Q3 2023
$HST token can be found on MEXC and BitMart exchanged under the HST/USDT pair and on SaucerSwap V1 and V2 under the HST/WHBAR pair.
You can set up a Hedera wallet by using one of the HashPack, Blade or MetaMask browser extensions.
If you want to participate in the Private and Public rounds of HeadStarter, then here is the complete guide on how to participate in HeadStarter’s IDOs and INOs.
This article is not only about the utility of $HST token, it is about our 2 Years Anniversary since TGE, the moment when the simple idea of creating and growing a DeFi ecosystem for Hedera Hashgraph materialized completely and could start being put into practice. You can read here more about our journey since TGE up until today.
Many things can be done better with Web3 and DLT, so we decided to celebrate this important milestone also through an impactful and meaningful event that can make a difference in the world — an auction for gathering funds that will be sent to Porini Foundation, a Swiss charity which focuses on creating recurring funding for biodiversity protection and endangered animal species living in protected and conserved areas from 6 continents. Find out how you can participate here.
The utility HeadStarter provides through its product and services goes beyond its native $HST token, into the Utility NFTs. Check here to find out more.
