HUH is a BEP20 utility token deployed on BSC (Binance Smart Chain) by the platform with the same name. The token positions itself as an asset with cashable rewards. Powered by blockchain technology, the token helps its holders to earn unique rewards. HUH Token was launched on December 6th, 2021, on PancakeSwap though the presale started earlier.
The official website displays the roadmap of the project that targets to build trust among the members of the community. The participants contribute to the project willingly being aware of the plans and directions in the development of the ecosystem. The final goal of the founders is to create a decentralized metaverse where users could gain from data generation.
The roadmap of the project reveals its ambitious nature as the development was carefully engineered to produce maximum impact for all milestones. The platform concludes durable contracts with thousands of influencers to increase the value of its cryptocurrency. Such a social media influencing campaign can become a powerful trick that should bring impressive results.
The platform has decided to leverage Ethereum together with Binance Smart Chain to build a unique token holder experience. The company distributes BNB along with the HUH token. The development team works over an ETH-BSC bridge with a 1:1 swap for the members of the community. HUH holders need the bridge to move seamlessly between the ETH and BSC chains. The multichain protocol of the platform is a part of a marketing positioning strategy since this feature makes the facility stand out from the rest. The team plans to extend the HUH token to as many blockchains as possible.
The main principles that lie in the basis of the HUH token include the creation of a robust community and the implementation of real-life use cases. The smart contract was launched to re-distribute a portion of HUH on every successful purchase and sale to the members of the community. The contract is implemented with Solidity v0.8.4 which enables its protection from overflows.
The team working on the project is developing the HUH app that becomes an essential part of the ecosystem. The token has everything to gain momentum and fulfill its potential by fueling this environment and leaving competitors behind. The platform plans to host the largest social media NFT platform. Along with the NFT marketplace, the ecosystem will include GIG Generating Marketplace, HUH Social CRM system, and HUH app launch.
The platform activates the burning scheme to increase the value of its tokens. On December 14, 2021, the platform burned tokens worth nearly a million dollars at the time of writing. The tokens are sent to the dead address to decrease their circulating supply.
The platform also established a partnership with Eden Reforestation Projects. The company participates in ecological initiatives aimed at restoring healthy forests and reducing poverty in developing countries. The company has purchased a million trees aiming to donate them to the first million account holders respectively.
The facility also offered 1/5 of its tokens to Elon Musk’s Foundation for renewable energy search, science and engineering education, “human space exploration research and advocacy,” and other goals.
The company introduced a 12-month vesting period to guarantee a stable growth of the community. This offer has become available for presale investors. According to the whitepaper, early adopters will get 50 times more tokens than the rest. Also, the platform promised airdrop tokens for HUH holders who should fill out a special form to receive their launch tokens.
The developers have invented a new term ‘utimeme’ for the description of the HUH Token which is in fact a combination of the morphemes 'Uti' from the word Utility and the word ‘Meme’. The asset has an 888 billion total supply. Initially, 100% of the supply was in the hands of the owners. According to the whitepaper, 1% of the supply was distributed during the presale.
The founders state that the name of the token emanates from the most popular word that people use in their daily lives. The presale of the asset was launched in October 2021 providing early adopters with a chance to yield a bigger return on their investments when HUH allegedly skyrockets in value over time. On December 20, 2021, the token was listed on BitForex.
The website of the platform urges users to download the application of Trust wallet which is the most secure and widespread option for storing crypto in the decentralized industry.
Those who want to buy HUH on Android-based devices should open PancakeSwap in Trust Wallet which can be found in the DApps tab of the platform and then select ‘Connect. The scheme is a bit more complicated for iOS devices as a special phrase should be pasted to enable the DApp browser. More detailed guides can be found on the website of the project.
HUH fees and referral program
HUH has introduced standard buy and sell fees that are equal to 15% and 20% respectively. The decision to make the sell fee higher was made to urge the members of the community to hold tokens thus contributing to sustainable long-term investment. It is worth mentioning that the fees system is not applied to bridging, i.e. the members of the ecosystem don’t need to pay fees when moving tokens between Ethereum and Binance Smart Chain. The fees are paid only when users make usual transactions.
The platform has activated its own easy-to-use referral system that enables users to earn on referrals. Those who refer friends get the opportunity to earn 10% of their first purchase in BNB. There is no limit in referrals as this program gives users unlimited opportunities. Some investors even claim that they have managed to turn the referral system into a good source of income.
The platform applied to such famous cryptocurrency auditing companies as Certik, Shellboxes, and Solidity Finance which have audited the smart contracts of the project. There is no information about HUH team members who preferred to remain anonymous.