Happy Voter Token (HVOTE) - Whitepaper
In this whitepaper we would like to present the Happy Voter Token (HVOTE).
What is HVOTE?
HVOTE is token emitted on Steem-Engine. In can be bought and traded on the decentralised exchange hosted by Steem-Engine.
What is the value of HVOTE?
The value of HVOTE corresponds to the Steem Power of the account @happyvoter divided by the number of tokens in circulation.
Why tokenize a Steem account?
Steem offers unique ways to generate profite from staked steem. The problem is that a lot of steem power is needed to enjoy such profits. With the token HVOTE we want to offer a possibility for any steem user to profit from the benefits of a powerful account.
Who is behind this project?
- http://www.ref-hunters.ch (cryptocurrency faucets)
- @help.venezuela (project to support Steemit Users from Venezuela)
How does it work?
Creation of the token
- The Token HVOTE was create on 11.3.2019 with a maximum supply of 10'000 Tokens. The fee of 100 Steem for the token creation was financed by @achim03.
- To start the project 1'000 HVOTE are sold to @achim03 at the price of 500 Steem. This Steem will be used to power up the account and to give it an initial value.
Weekly Development (modified 6.6.2019)
Every week the token will be updated on monday or tuesday as follows:
- All sales orders of @happyvoter are cancelled on steem-engine market.
- The proceeds of the sold tokens will be sent to the steem account and transformed into Steem Power.
- The free cash on the steem account (Steem and SBD) will be distributed according to the following key: 50% to Power up the account; 30% to buy back tokens and 20% is kept in cash and can be used for different reasons.
- With the resulting Steem Power of the account @happyvoter the Token Value is calculated: Steem Power / Number of Tokens in circulation.
- The sales price of the token is calculated: Selling price = Token value * (1 + (Tokens for sale / Tokens in circulation))
- The buying price of the token is calculated: Buying Price = Token value * (1- (Stemp on account / Token value) / Tokens in circulation))
- A number of new tokens corresponding 4% of the Tokens in circulation are put on the market at sales price. These tokens are composed first of unsold and bought tokens on the account. Then for the rest, new tokens are issued.
Unsold Tokens + Bought Tokens + New issued Tokens = 4% of the Tokens in circulation
- The existing Buying orders are cancelled. New Buying orders are created at buying price. The number of the tokens that are bought depends on the cash that is on the account.
How does the token gain value?
Since the account will never power down and new issued tokens will always be sold at a higher price than the token value, the value of the tokens will increase in terms of Steem. However the value of the tokens will depend on steem prices.
The token value will grow with the account value. There are several ways in which the account will make income:
- sales of new issued tokens
- upvotes selling through smartsteem
- curation rewards
- income from weekly posts
- referral comissions
- sales of bought tokens (spread)
Token holder benefits (modified 25.3.2019)
In addition to the increase of value for token holders, accounts that hold more than 2% of the tokens in circulation are considered as Big token holders. These Big Token holders will get a systematic upvote from this account according to the following key:
- if less than 10 Big token holders -> 60% upvote
- if more than 10 Big token holders -> (600/number of Big token holders)% upvote.
Every week the accounts are checked. People who own 2% or more of the HVOTE tokens in circulation will recieve upvotes after the next weekly update, following the reaching of this 2% threshold. If at the moment of the check the number of tokens is lower than the 2% of tokens in circulation, the upvotes are cancelled.
Token holders can influence the developement of the token
Token holders can actively influence the price of the token:
- By buying tokens on the market
- by upvoting and resteeming the weekly posts
- by joining steem games and programs using the referral link of @happyvoter:
-- https://smartsteem.com?r=happyvoter (vote buying and selling)
-- https://drugwars.io/i/happyvoter (game)
-- https://magic-dice.com/?ref=happyvoter (gambling)
Why you should buy HVOTE tokens
HVOTE tokens will always increase in price. If you are amongst the first to buy them, you will profit from a much faster price development. You can always sell your tokens on the market. At the beginning there might only be a limited number of tokens on the market but with time the market will gain liquidity.
If you manage to buy 2% or more tokens of the tokens in circulation, you will get an automatic upvote on all your posts from this account!