Steem First: HUNT Token Listed On Daybit
Tomorrow is a milestone day and not because it is tax day in the United States.
The HUNT token, put out by the @steemhunt team, is going to be listed. This is, to my knowledge, the first Steem based token developed outside the core coins (STEEM/SBD) that is listed on a non-Steem based exchange.
April 15, 2019 is the fist time a token created for an application on the Steem blockchain is widely traded.
At 12:50 Korean time, the HUNT token will go on sale on the Daybit exchange. This is one of the exchanges that was used by the team for its IEO.
The release of a token is preceding the addition of Reviewhunt being added to the platform.
Reviewhunt is a major piece of the business model. This is the component that is going to allow businesses to "hire" Hunters to review their technical products and applications. Where Steemhunt is presently full of posts that Hunters find interesting, Reviewhunt is going to be a paid service where Hunters are able to apply their expertise in reviewing the different products.
The appeal for businesses is to get instant feedback from a knowledgeable community. This will result in the Hunters being paid in HUNT, providing a market for the tokens.
Upon going live tomorrow, the team, along with Daybit is offering contests and prizes. This is to provide further incentive for people to get involved. We are seeing this as common practice which also, helps in the further distribution of the token.
Full details of the events can be found in their post.
The team decided to protect the token price when it hits the market by instilling a hold period for those who acquired their tokens via bounty.
When a project hits a market like this, there are often large stake holders who entered as early adopters. This is the case with HUNT. Many of us earned tokens by writing articles, delegating SP, and promoting the project on social media. Early on, the payouts were rather significant enabling many to earn hundreds of thousands of HUNT. The worst thing to have happen to a token when it goes live is a flood of sell orders, issued at low prices, to hit the market.
People who receive HUNT via bounty do not have a financial price level associated with their tokens Anything received by selling would be a profit. This is a marked difference from the ones who are buying on the open market. The last thing the Steemhunt team wants is to do all the promotion (pump), then have a dump take place.
For this reason, the is a 91 day period were a vested amount is released each day. Those who received HUNT tokens via the bounty program will have 1/91 of the total amount available for trading each day. Hence, in a little over 9 days, 10% of the HUNT held will be available. This applies to HUNT acquired via the bounty program before April 12th. Anything after that is vested instantly.
This applies only to those in the bounty program and not purchased on IEO.
Not giving financial advice here, but my view about my stake is not to unload it at this time. I see Reviewhunt as a major step forward. There is another piece that will be implemented into the business plan that I find to hold even greater promise.
Ideahunt is an addition that will allow for funding of new technology products and application similar to crowdfunding. This is going to provide another use case on the Steemhunt platform. The way I see it, those holding HUNT can become venture capitalists if they so desire. The HUNT can be used to fund those seeing seed money for their different projects.
I am hopeful the team will provide an updated time line for the roll out of these developments now that they are passed the IEO and going live on Daybit.
A lot of exciting stuff with Steemhunt.
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