#HOPE is now LIVE
Introducing HopeSwap, Staking, and DAO for All Users, with $HOPE Reserves Safeguarded by Coinbase.
We are thrilled to announce the official launch of HOPE, the all-in-one DeFi ecosystem featuring crypto-native, distributed stablecoin $HOPE. The initial suite of protocols and features, including HopeSwap, $HOPE Staking, and DAO, is now accessible by all users on the Ethereum Mainnet, following a successful Public Beta Testing phase. Distribution of $LT rewards will begin after 08:00 AM, 20th April 2023 (UTC+8).
This milestone has been made possible with the support of our partner, Coinbase — one of the world’s largest and most compliant custody providers. As the pioneering custody provider within $HOPE’s distributed reserve network, Coinbase empowers HOPE Ecosystem users to securely lock their assets with a reputable, independent and regulated custodian in a segregated, non-commingled way.
We would also like to thank our security auditors, SlowMist, CertiK and PeckShield, for their support and acknowledgment of the security of our smart contracts.
What features are available now?
1. HopeSwap
Token Swap
HopeSwap is a gateway to the HOPE Ecosystem, enabling users everywhere to obtain $HOPE and $LT via on-chain AMMs with mainstream crypto assets.
Liquidity Pools
Users can become liquidity providers by either providing liquidity to existing pools or creating new liquidity positions and earning 50% of all trading fees incurred within HopeSwap.
Liquidity Farming
On top of that, LP token holders can stake eligible LP tokens and earn $LT rewards in accordance with relative Gauge Weights.
2. $HOPE Staking
Worried about Impermanent Losses? You can still earn $LT via single-sided staking.
Currently, you can stake your $HOPE for $stHOPE, and receive $LT based on your $stHOPE holdings.
3. DAO
veLT
$LT holders can lock their $LT tokens for a predetermined duration of time and receive veLT (vote-escorted LT). The amount of veLT a user receives is linearly correlated to the lock duration. E.g., a user will receive 0.25, 0.5, 0.75, or 1 veLT for locking 10,000 $LT for 1, 2, 3, or 4 years, respectively.
veLT represents voting power and reward boosts.
Get Reward Boosts
You can get a maximum of 2.5x farming rewards booster depending on your veLT holding.
Vote for Gauges
The distribution schedule of $LT rewards is governed by relative Gauge Weights of liquidity pools which are refreshed every voting cycle. veLT holders can vote for specific Gauges to determine the distribution collectively.
Initial Reward Gauges
- $HOPE Staking
- LP-$HOPE-$USDT Staking
- LP-$LT-$USDT Staking
You can find more information regarding Gauges in our docs.
Governance Rewards (in $stHOPE)
25% of all trading fees incurred within the HOPE Ecosystem will be proportionally distributed between all veLT holders.
Another 25% of all trading fees incurred will be distributed proportionally veLT holders who vote for Gauges, based on the voting results for each voting epoch involved between two distributions.
$LT Emission Schedule
$LT serves as an incentive and governance token for incentivizing liquidity provision and governance participation within the HOPE ecosystem.
$LT’s total supply will be infinitely close to one trillion.
Initial Supply: 40%
- 30% vested for key stakeholders over 4 years, then automatically vote-locked for another 4 years for governance purposes.
- 10% for treasury and foundation.
Remaining: 60%
- Piecewise linear release schedule: The inflation rate reduces by 1/8 every year.
- Emission rate during the first year: Around 23.87% (compared with the initial supply) or 261.59 million $LT per day.
- Distribution of $LT rewards will begin after 08:00 AM, 20th April 2023 (UTC+8).
You can find more information regarding $LT Tokenmomics in our docs.
What’s next
DAO governance is critical to our growth and development. In the near future, we will be introducing both on-chain and off-chain voting mechanisms for Governance Proposals. veLT and $LT holders will have the opportunity to propose changes to various aspects of HOPE and cast their votes on proposals to shape its future direction.
Additionally, keep an eye out for the forthcoming launch of HopeLend and HopeConnect, which will offer an extensive range of use cases for $HOPE. This will empower $HOPE to serve as universal collateral and eventually evolve into a global payment vehicle.
Together, let’s #HOPE for a #LIGHT-filled future, where frictionless and transparent financial infrastructure and services are accessible to everyone.
FAQ
1. What’s the official URL of the HOPE dApp?
- app.hope.money
2. I’m new to all this. How do I get started?
- New to HOPE or DeFi? Jumpstart your HOPE experience with this step-by-step guide.
3. How to Get $HOPE
- Currently, the only way for retail users to obtain $HOPE is via HopeSwap.
4. How to earn $LT Rewards
- Stake $HOPE and hold $stHOPE (*not eligible if your $stHOPE is deposited into liquidity pools)
- Liquidity Farming by staking eligible LP tokens. Below LP tokens are eligible initially: LP-$HOPE-$USDT, LP-$LT-$USDT
*Don’t forget that you can boost your yield up to 2.5x by holding veLT
*Distribution of $LT rewards will begin after 08:00 AM, 20th April 2023 (UTC+8).
5. Where can I find more information about HOPE?
- Website: https://hope.money
- Docs: https://docs.hope.money
- Twitter: https://twitter.com/hope_ecosystem
- Discord: https://discord.gg/hope-ecosystem
- Telegram: https://t.me/hope_eco
