HRD is the utility token which powers the Hoard Exchange. It is primarily a staking token to secure transactions throughout the ecosystem. Every virtual asset traded on the platform — bought, sold, or rented — may also be exchanged in HRD. The ERC20 Token enables Hoard entrepreneurs with the ability to run effective advertising campaigns, tip content creators or streamers, and register unique network-wide assets, like usernames.
- What is the role of HRD?
- What sort of blockchain token is it?
- Can I have examples of what HRD will be used for on the Hoard platform?
- How will virtual goods prices be displayed in HRD and how can I trade in and out of other digital or fiat currencies?
- How many HRD will there be?
- Is HRD token a security?
The HRD Token is first and foremost a staking token which secures the underlying blockchain of the Hoard ecosystem. All games developed using the Hoard SDK run on a plasma architecture. To ensure the security of these games, HRD is staked to confirm transactions. Furthermore, it is required to power the Hoard ecosystem in the same way that Ether is required for gas on the main Ethereum network.
The Hoard token (HRD) is an ERC20 token on the Ethereum network. Using an Ethereum based token enables people to take advantage of blockchain's unique features:
- Trustless security
- No double-spending
- Relatively fast and cheap transactions
- The ability to transact with anybody else on the blockchain
Yes. These include, but are not limited to:
- Creating orders to buy, sell, trade or rent items
- Setting up custom shops
- Promoting sales advertisements with e.g. highlights, headlines and themes
- Registering vanity usernames
- Discussing sales advertisements in comment threads
- Reviewing items
- Cold messaging: User A can use HRD to cold message another User B. User B will receive the HRD if he or she accepts the message
- Tipping other users for creating good content (e.g. guides or reviews).
- Gifting items.
- Receiving airdropped promotional offers and game tokens from game developers on the network
How will virtual goods prices be displayed in HRD and how can I trade in and out of other digital or fiat currencies?
Users can choose to view the content prices in a currency of their choice; however, its underlying valuation is in HRD and the user must use HRD to pay for content. They can do this if they already have HRD in their wallet. If they do not, they can use one of Hoard’s service partners in order to exchange their digital or fiat currency for HRD.
Hoard will be partnering with OmiseGO to enable users to exchange any blockchain token for cryptocurrency or stable coin or interact with an eWallet provider on the OMG network in real time. This is handy for users who do not want to be exposed to the volatility of cryptocurrencies.
There will be a maximum supply of one billion HRD and no more can be mined after the token sale.
HRD tokens do not represent or constitute any ownership right or stake, share or security or equivalent rights nor any right to receive future revenues, shares or any other form of participation or governance right in, or relating to, the Project and/or Hoard A/S.
HRD is a utility token and the value bearer of assets. It is not a security.