Introducing....The Hive Engine Index Token
About 3 weeks ago, we introduced HivePay.io to help merchants and website owners open their businesses up to the Hive and Hive-Engine eco-system. As we continue to develop this project, it was pretty clear...We're in love with the potential of not only Hive but more importantly...The layer 2 possibilities :)
And there is nothing more exciting to us than what is happening on Hive-Engine. The tokens, the communities, the projects....Have really captured our imagination!
We thought there was a need for something a little different on the markets...Something that the 'everyday crypto' enthusiast could dip into without trying to master and learn about every token that is available. So we did what traditional markets do...
We indexed Hive-Engine :)
Hive-Engine's first indexed token, that hopes to capture the top performing tokens on the market!
By buying INDEX on the market, you are essentially purchasing a token that is backed 100% by each token within the index.
How does it work?
INDEX is 100% backed by the tokens it represents. That means if the token represents 1000 LEO tokens, it will hold 1000 LEO tokens!
We regularly review all the top performing tokens within Hive-Engine and select the top tokens to represent the token. This is based on volume averages over the history of each token for a set time.
For every INDEX purchased, a weight is given to the individual tokens represented (based on volume). INDEX then purchases the corresponding weight of each token.
100% backed by every token it represents!
O.K., that sounds cool...How do I profit from buying INDEX?
As the value of the market increases overtime, each INDEX token will HOPEFULLY rise in value.
Also through curation rewards by following curation trails specific to the tokens represented in the INDEX PLUS top performing trails on the blockchain as well.
And finally....Mining Profits!
Payouts are as follows:
- 80% of all rewards (mining and curation) are paid to INDEX holders based on the percentage of total tokens they hold
- 10% is used to purchase miners of tokens represented in the INDEX
- 10% is used for admin fee's
And here's the best part! Rewards are paid out automatically once a day.
What tokens are inside of INDEX?
Note: There are no mining tokens or SWAP tokens inside INDEX!
We have been monitoring the volume and performance of the market for a few weeks now to make sure we added the top performers.
We tried to be as unbiased as possible, and we hope that's evident because the CTP Token is nowhere to be found...Yet...We're always working to raise awareness for it lol ;)
But we chose the following tokens to give INDEX a kick start and launched! Remember, we are monitoring this all the time and if a token starts to massively underperform, or something new takes the lead...We will switch it out. Just like any index.
You can check out the tokens inside of INDEX on HE-Index.io
Just getting started!
We think this is a pretty cool project and shows the power of these layer 2 tokens!
That being said, we are always open to suggestions on how to improve and build INDEX up to be an awesome representation of all these projects on Hive.
The tweaking and perfecting of this project is ongoing and we'll be doing updates regularly to keep you up to date with everything taking place with the token!
We hope you enjoy this project and it helps bring more excitement and awareness to the blockchain! And please leave your comments, questions and suggestions below...
Be sure to grab some INDEX today ;)