HUNT Network has been running a unique token model called HUNT Token Burning System since May 2020. As more of the DApps on HUNT Network gain a revenue stream, it is designed to increase the value of HUNT token by 1) promoting the HUNT token usage with a zero-fee structure, and/or 2) burning more HUNT tokens from non-HUNT-related revenue.

Currently, we have two DApps that contribute to the burning system.

1. Nomadtask (https://nomadtask.com/)

Nomadtask is an on-demand marketing task marketplace. 10% of the revenue fee from the non-HUNT payment methods used on the Nomadtask platform are converted to HUNT tokens and burnt on a quarterly basis.

2. Neverlose.money (https://neverlose.money/)

Neverlose.money is a gamified HODL protocol on Ethereum that pays a bonus to the winners with the losers’ penalty. People can lock-up their crypto asset for a set target period (3 months to 10 years). They can withdraw their funds at any time regardless of the lock-up period, but a 10% penalty and 3% treasury fund will be deducted if they withdraw the fund WITHIN the set lock-up period. This penalty will be shared among other users (as a bonus) who are maintaining their active HODL assets. The 3% treasury fund will be converted to HUNT token and added to the quarterly HUNT burning system.

3. Mint Club (https://mint.club/)

Mint Club is a smart token building platform that has no need to code and provides instant liquidity. Anyone can launch a smart token with just a few simple clicks. There are trading fees for swapping Smart Tokens on Mint Club (1.3% of sell amount and 0.3% of buy amount). The trading fees accumulating in the default beneficiary wallet (the trading fees taken for people who didn’t use a referral code) will all go to the quarterly HUNT burning.

HUNT tokens burnt for this quarter:

Today we burned the tokens for the second quarter of 2021 which is from April 1 - June 30, 2021. The total amount we burned is 82,759 HUNT (worth $30,620.59 as of June 30, 2021, 00:00 KST). You can see the burning records here  - https://etherscan.io/tx/0x79279dc2a319931532036d3de570920a7c21e4cb35623edefedf97b7c50af855.

Allocations from each DApp:

• Nomadtask (the 10% non-HUNT fees): 17,099.62 HUNT
• Neverlose.money (the 3% treasury fund): 65,658.75 HUNT

Here is the token burning history so far:

• 1Q-2020 (Feb 1 - Mar 31): $2,672 (1,311,205 HUNT)
• 2Q-2020 (Apr 1 - Jun 30): $5,126 (1,868,664 HUNT)
• 3Q-2020 (Jul 1 - Sep 30): $6,123 (112,357 HUNT)
• 4Q-2020 (Oct 1 - Dec 31): $6,478 (96,994 HUNT)
• 1Q-2021 (Jan 1 - Mar 31): $15,170.78 (31,989HUNT)
• 2Q-2021 (Apr 1 - Jun 30): $30,620.59 (82,759 HUNT)

You can find the burning records via https://token.hunt.town/.

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HUNT Network - https://token.hunt.town/
Nomadtask - https://nomadtask.com/
Neverlose.money - https://neverlose.money/
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