Blockchain
Hoo’s first stage of token-repurchase program completed with over 400,000 HOO Token added to its AMM liquidity Pool
On February 17th, 2022, Hoo announced the completion of the first-stage token-repurchase plan on HOO Token with a cumulative total of 423,982.18 HOO repurchased from the secondary market.
From January 2022, Hoo had imposed the strategic plan on generating 30% of the income revenue from spot trading (Spot Zone + Innovation Zone) of Hoo Exchange for enhancing the liquidity of the AMM pool. 15% of the income revenue would be used to repurchase HOO from the secondary market, and all the repurchased HOO would be placed into AMM liquidity pool. The remaining 15% income revenue would also be transferred to the AMM liquidity pool for optimizing the depth and activation of the secondary market continuously.
According to the announcement, Hoo’s accumulated spot transaction income is 3,385,520 USDT in January 2022. Thus, 1,015,656 USDT will be imposed into token-repurchase agreement, and half of which will be used to repurchase HOO from the secondary market and the remaining half of the USDT from income revenue will be added to the Hoo AMM liquidity pool together with the repurchased HOO.
In addition, contributing to the support of a strong user base of Hoo Exchange, Hoo’s market share has further increased with steady growth in the past few months. According to Coingecko, HOO’s market capitalisation reached $92,427,436 on 31st January 2022, which has reached a 22.73% year-on-year growth on the total market capitalisation.
HOO is an important element for the development of Hoo’s global ecology. During the past periods, the Hoo team has visualized plenty of enriched application scenarios for HOO based on the users’ needs.
1. Acting as GAS fee on HSC.
2. Participating in HooPool mining:
HOO holders can use their HOO to participate in the initial mining event of a new project. The token holders can pledge the HOO or other crypto assets to participate in the HooPool event in a privileged position where they could preempt into the pool earlier than other users who do not hold HOO.
3. Doubled income from liquidity mining and fee share by pledging HOO on HSC.
4. Discounted handling fees with VIP benefits:
E.g., Users who hold 10,000 HOO can enjoy VIP1 level benefits and holding 500,000 HOO can enjoy VIP4 level benefits.
5. Receiving a commission rebate by referring new users.
6. Participating in the Right to Gain program:
The opportunity to enjoy benefits such as an increase in the maximum amount of participation and an increase in base earnings.
7. To borrow over 20 kinds of mainstream cryptocurrencies by pledging HOO to meet users’ daily capital needs.
8. Participating in the Hoo exchange’s new crypto launch for investing in other projects with high potential.
9. Entitled to special benefits for Hoo marketing campaigns, including AMA, gift cards, blind boxes, prize draws, etc.
10. Redeeming HOO for small amounts of currencies:
Some users who hold small amounts of currencies that cannot be traded directly can enjoy the benefit of redeeming HOO once within 6 hours.
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
Blockchain
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Blockchain
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