New Role Play An Important Part in Crypto-World — “Buyback-And-Destruction” Mechanism
HOGT’s Buyback-And-Destruction Is Ongoing and Its Value Is Back on Track
In recent years, DeFi has been on the rise, and the whole cryptocurrency trading market has achieved unprecedented development. Not only mainstream digital currencies such as BTC and ETH have attracted much attention, but various DeFi projects have also continued to gain popularity. While various Defi tokens have soared, Dex-a once-niche category, has become widely acknowledged as a red-sea blockchain hot track.
When more and more Dex’s caught by public eyes, each project needs to think deeply about how to build its own moat, seize more market share and get more new traffic. As the ecologically decentralized trading platform of HOGT.COM, HDEX fully adheres to the principle of “fairness, safety and sharing” trading platform, and is committed to taking “technology” as the core strategy, focusing on the development of platform value functions, constantly strengthening and consolidating the advantages of tokens, so as to meet the trading needs of more users.
It’s well known that the usage scenarios and functional attributes of platform tokens are the value basis for the existence and the reference criteria for investors to judge whether they are worth holding for a long time. In general, the deflation model is the most direct means to increase the value of platform tokens, and “repurchase-and-destruction” mechanism essentially accelerates deflation and increases the market scarcity of platform tokens.
Given the fact mentioned above, HOGT.COM carried out a new upgrade to the platform token HOGT repurchase-and-destruction policy. Starting July 7, 2021, HDEX will initiate a “repurchase-and-destruction” mechanism — the platform will periodically repurchase and destroy HOGT, and the destruction record will be posted on the synchronous chain to accelerate the value deflation of the platform token HOGT. By taking advantage of the platform of HDEX, the amount of HOGT destruction was increased again on the basis of the original repurchase and destruction rules, in order to accelerate the value deflation of the platform token HOGT and increase the scarcity of HOGT in market.
HDEX Price Protection And Buyback Destruction Mechanism
The essence of blockchain is the sharing of “ledger”, ideas, rules and trust. The design of “buyback and destruction” of HDEX reflects the original intention of the platform to transfer benefits to users and share the development dividend with users.
It is reported that HOGT has a unique trading price protection mechanism on HDEX. When providing liquidity trading, the platform will charge 0.3% handling fee for each purchase or sale of HOGT/OGT, which will be used to repurchase and destroy HOGT. When a trader sells a HOGT/OGT, 10% of the trader’s total trade will provide depth to the HOGT bottom and increase liquidity. Data show that as of July 18, HDEX platform has completed five circles of HOGT repurchase destruction, with a total of 21,000,000 HOGT destroyed and a daily average of 175,000 HOGT destroyed.
July 7, Destroy 200,000 HOGT by the HDEX Trading Price Guarantee
July 9, Destroy 300,000 HOGT by the HDEX Trading Price Guarantee
July 10, Destroy 500,000 HOGT by the HDEX Trading Price Guarantee
July 13, Destroy 500,000 HOGT by the HDEX Trading Price Guarantee
July 18, Destroy 600,000 HOGT by the HDEX Trading Price Guarantee
As the first independent entry project of HDEX, HDEX has already destroyed 100% of the transaction fee HDOGE contributed to the HDOGE project into the black hole address at 18:00 on July 18th, and at the same time, 100% of the transaction price of HOGT trading pair is guaranteed to be destroyed into the black hole address for 10% precipitation.
A total of 6,000,000,000 pieces of HDOGE have been destroyed this time. It is reported that 686.2 billion pieces of HDOGE have been destroyed, accounting for 68.62% of the total. The permanent locking quantity is 63.16 billion, accounting for 6.31% of the total. The number of coin-holding addresses on the current chain:3,614; the number of transactions on the current chain:28,741.
HDOGE destroy query link: https://hecoinfo.com/tx/0x829e1adfb8e27a798c7298f87ed616c746b8d4d97d024c7afc794cc5e62e3d3f
With the enabling of the transaction price protection mechanism, HDEX is continuing to increase the strength of Hogt’s repurchase and destruction. Combined with the current Hogt.com’s advanced layout in the ecological mining track, the future value of Hogt.com is self-evident.
At present, in addition to buyback destruction of HOGT. HOGT.COM has developed supporting infrastructure for ecological landing, including Hdex K line function on-line, wallet project, ecological project derivative and so on. In the future, HOGT.COM will continue to support the benign ecological cycle project around HOGT, by creating high-performance blockchain application transactions on the chain, to help more valuable currencies to improve liquidity, to meet the needs of more currencies for transaction price protection, to create a brand new ecological transaction mode, so that HOGT holders can share the development achievements of HOGT.COM.
The external competition of the DeFi platform is a “long war”, but internally, the Hogt value is back to full open, and the “buyback and destruction” is just one of the tactics. Ultimately, buyback and destruction for the benefit of the platform is just killing the goose that lays the golden egg. By constantly enabling the value of the platform token, so that users can obtain the continuous benefits brought by the development of the platform, is the long-term move.