xHONO: The Power Token of MangaFi
What are the utilities of xHONO?
Hey there, MangaFi enthusiasts! We’ve got some exciting news to share about our very own xHONO token. This isn’t just any token; it’s the lifeblood of our platform, and we’re here to tell you why. 🚀
1. Emission-Directing Voting Mechanism
First off, xHONO isn’t just a token, it’s a decision-maker. Holders can use their xHONO to direct emissions of our pool minters. These contracts mint HONO for specific use cases as revenue comes in.
For instance, our Master Pool Minter converts 10% of the incoming master revenue into HONO. 2% of this is available for xHONO holders to convert to HONO, while 8% goes into the loan pool for future fan coin deployments.
And it doesn’t stop there. Our Fan Coin Pool Minters convert 10% of the incoming fan coin revenue into HONO. Again, 2% of this is available for xHONO holders to convert to HONO, while the remaining 8% is burned to increase the HONO value.
2. Directing Fan Coin Selections
But wait, there’s more! xHONO holders also get to vote and determine which fan coin projects to launch and their respective tokenomic designs. It’s like being part of a democratic system where your voice truly matters.
3. Conversion to HONO
If that wasn’t enough, xHONO holders can trade their xHONO for HONO at a 1:1 ratio. Yes, you heard it right. xHONO accumulates HONO, and you can convert it on certain conditions. Just note that a 2.5% fee applies to all conversions, which is paid in ETH per the price of HONO at the point of conversion.
That’s right; your xHONO isn’t just a token; it’s a ticket to exclusive benefits within the MangaFi ecosystem.
So there you have it, folks! xHONO isn’t just a token, it’s a powerhouse. It’s a decision-maker. It’s a voice in the MangaFi community. And most importantly, it’s yours.
Stay tuned for more updates and remember, in the world of MangaFi, your token is your superpower. 💪
