[RFC] Brainstorming Ideas to support HFT Price

Author: @Alustath
Related Discussions: [DRAFT] Build HashVerse on its own chain, with HFT as utility token
Submission Date: 11/21/2022

Simple Summary: this topic is created to brainstorm ideas to support the price of HFT

Abstract: as we all know, HFT price keeps going down due to several reasons, resulting in huge losses for all of us, one way to mitigate this on the long term is to create utilities for holding this token, among other ideas discussed on discord, I’ll try to summarize those ideas here.

Motivation: stop the bleeding of HFT price and have a good long term investment

Specification & Rationale:

  1. I’ll start by the referred idea above by @gxmxni, having a separate side-chain with HFT as a utility token would definitely support its price.
  2. also could be part of the above idea, having NFT market place where people can buy NFTs using HFT would support HFT’s price.
  3. Introduction of fees and using them to buy-back some HFTs and burn them on a quarterly basis (similar to BNB and CAKE burn programs) to reduce the total supply.
  4. The above burn program can be also supported by donations / revision of tokenomics.
  5. Introduction of locked staking program would help in reduction of selling pressure as more and more HFT tokens get locked (requires a revision of tokenomics as well).
  6. ability to purchase items for the characters in hashverse using HFT, with immediate burning of those HFTs to reduce the total circulating supply.

Benefits (Pros):

  1. support HFT’s price / stop bleeding
  2. make it a good long-term investment for holders

Downside (Cons):

  1. Introduction of fees at early stage might take out one main advantage of hashflow over other DEXs.
  2. locked staking effect could be temporary solution that may fire-back once unlocked.

Voting: a “yes” or “no” vote can be given to one or more of the above ideas in addition to any other ideas brainstormed by users.

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I wrote down a proposal to decrease some of the heavy sell pressure on HFT, you might want to read .
anyway one of the best mechanism to eliminate sell pressure is implementing Ve-HFT token models. but this require some marketing and adoptions of our product before implementing it.

I’m not able to find your proposal here, kindly share the link

100% agree on this proposal

Thank you for putting this up! I am going to share my thoughts on each point:

  1. I think this could be good – however, it is not a no-downside idea! I have seen some counterpoints on the proposal that I posted, and I think there are valid concerns. We would for sure have to see if this makes it to a governance vote, and see how HFT holders feel about it.

  2. ACK – this would be necessary in a side-chain world.

  3. Good direction! I believe that coming up with a fee structure is going to be a trial-and-error process and that we’d have to collect relevant data to guide our judgement. The team has already started working on market dynamics / market intelligence projects, which should shed more light. We will for sure keep the community updated on the data, so that we can collectively analyze what a good proposal would be here.

  4. I would love to hear your thoughts, perhaps in a separate proposal, about what revised tokenomics would look like!

  5. This is in the works as part of the HashVerse!

6.This would be the case in the side-chain scenario.

1 Like

appreciate your support / feedback / being active with us here and on discord

@Alustath for my part, I would encourage you to submit and consider each idea in a separate topic and proposal, it would be more constructive.

The comment period for this thread is now closed - thanks for all the comments!