What Is Hydrogentoken (HGT)?
Hydrogentoken is also the pair asset for every Album pool created in HGT. Every Album created can have its own set of LPs for the Album token, with HGT as the paired token in the liquidity pool. They believe projects like Thorchain ($RUNE) and Bancor ($BNT) where the native token is used as a reserve asset in their respective AMMs highlights an underestimated value accrual mechanism.
By using Hydrogentoken as the reserve asset in each pair of Albums, not only does HGT price become almost deterministic by capturing the increasing value and liquidity of the protocol’s Albums, it also aligns protocol owners with liquidity providers.
The fees generated from Album creation can be paid out as rewards to holders of $HGT or be used in other ecosystem initiatives. To that end, $HGT is a governance token whereby holders can contribute to changing various
requirements/parameters of the platform itself as well as how future revenue may be distributed amongst holders.
Hydrogentoken Storage Key Points
|Circulating Supply||1,000.00B HGT|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
What is the Utility of the $SZNS Token?
The $HGT token primarily serves as a governance token for the HGT ecosystem. However there are some unique aspects of value accrual that are unique to $SZNS. Every time an Album is created, 1% (subject to change via governance) of those derivative Album tokens are sent to the HGT treasury.
Thus, at a baseline, HGT treasury is worth 1% of all Albums created and valued in the market. This means that holding $HGT gives you the broadest exposure to the NFT space as it is an umbrella token that encompasses all of the various baskets of NFTs across HGT Albums.
The buyout module specified above is an implementation of a governance framework where future extensions could include other features such as buying/selling individual NFTs in an album, more complex treasury management, and more. They’re excited to see how this concept evolves as the protocol improves and develops further.
Hydrogentoken mentioned above how one might view an Album as a DAO where Album token holders can interact with each other and the creator on a variety of levels. Anytime a buyout is proposed, all holders of the Album token will be notified. They can then vote to accept or reject the proposal.
A buyout is a process by which a holder of a particular Album token can offer a
price to “buy out” the remaining holders so that the buyout proposer may liquidate the Album to access the underlying NFTs held by the HGT smart contract. There are certain conditions that must be met for a successful buyout. First, the proposer must own 20% or more of the underlying Album tokens.
In proposing a buyout, the proposer specifies the amount in Hydrogentoken they are willing to pay to buyout the Album. For example, suppose Bob proposes 10 ETH to buy out the remainder of holders. If accepted, the 10 ETH will be distributed in proportion to the ownership stake of all $HGT holders (meaning someone who holds 15% of $HGT would be paid 1.5 ETH).
How It Works
Any user with an NFT collection they’d like to create an index for can simply deposit those NFTs into the HGT smart contract to create an Album. Suppose Alice has a valuable collection of NFTs which she believes will appreciate
over time and would like others to gain exposure to. She would create an Album with a selection of her NFTs with the token ticker such as Hydrogentoken.
The Album called Alice is then created with the selection of NFTs locked in the HGT smart contract. Other users of HGT can then invest in Alice’s Album according to her established terms. Furthermore it’s an opportunity for any NFT collector to make a name for themselves as a curator of high-quality NFTs.
Once the sale is over the ownership of Alice’s basket of NFTs is now shared across various investors! Alice has successfully democratized access and ownership to her highly desired NFTs. From a collector’s perspective, it’s an opportunity to invest in NFT curators themselves, much like how one would invest in a good fund manager. From a creator’s perspective, they have widened distribution of their NFTs and have gained access to liquidity.
SZNS Governance & Future Developments
$HGT token holders will govern various aspects of the HGT protocol. Some
parameters and features of the protocol that will be subject to governance are. they envision HGT developing into a hub of various NFT services with develop-meant led by both the core team and the community.
As active participants in the decentralized future they’re excited by the opportunity to explore how they can build and integrate the improving web3 technology stack to offer services that combine NFTs, DeFi, and decentralized infrastructure.