Announcement of HotPotato Presale
Good news! HotPotato presale will start on Mar 22, 2021.
Thank you for your support of the Hot Potato Project!
Only 160 presale places are provided. Please check the detailed introduction of the specific presale process below.
Specific Presale Process：
14:00 UTC on Mar 22, 2021
The Presale Google Form will be announced on the official Twitter, please complete the application within 24 hours.
14:00 UTC on Mar 23, 2021
The presale application ends.
16:00 UTC on Mar 23, 2021
The whitelist of users who will successfully enter the presale and BSC address of Hotpotato will be announced on the official Twitter. If you are lucky to enter whitelist, please invest BNB to the official BSC address of Hotpotato within 24 hours.
16:00 UTC on Mar 24, 2021
Hotpotato private sale ends. And the presale ends.
On Mar 25, 2021
HP will release HP tokens to users who successfully participate in private sale. HotPotato will be listed on PancakeSwap.
Detailed rules of presale:
- You could purchase in presale only when you are on our whitelist.
- Maximum of 160 addresses can participate in the presale, including users who have been confirmed to have participated in the previous period. Please participate within the specified time.
- Please invest in BNB within the quantity you apply for in Google form. And the purchase limit of each address is 5–100 BNB.
- While we trust all participants’ good intentions and honesty, we reserve the right to remove rule violators from the presale.
A Centralized Financial system can be seasoned with unlimited offerings, while the total amount is predetermined in major blockchain projects. Whereas, in the case of Hot Potato, the total amount is determined by the community. Hence, there will be no arbitrary issuance of hot potato tokens, nor a cap on the total amount. It’s up to the community to decide. HotPotato is a representative of innovative “Rebase+NFT” mechanisms.
- Total circulation: Holding addresses*100 (the token amount is changing according to holding addresses)
- Initial token amount: 160*100=16,000(the final token amount will be ensured based on the actual number of investors in the presale)
- Initial liquidity pool= Fundraising BNB: 40% of the total tokens, locked in liquidity pool for half-year
The number of HP owned by the holder changes with the total number of effective token-holding addresses, and the holder’s token number is automatically rebased.
Tokens are automatically rebased along with the number of addresses of the holders of the token. When the number of HP holding addresses changes, the system will also rebase the number of tokens for each holder accordingly, therefore the number of HP which the user holds is not a constant. The specific mechanism is as follows:
In the HP system, the total circulation is n*100( n is the number of valid currency holding addresses). For every additional HP-holding address, the system will issue an additional 100 HP tokens. But the daily increase of tokens is divided into two stages of rebase:
Stage 1: When the number of addresses increased daily accounts for less than 5% of the initial number of addresses held in the day, additional tokens will be issued according to the number of addresses increased *100, and rebase to all addresses in proportion.
Stage 2: When the number of additional addresses exceeds 5%, additional tokens will still be issued according to the number of addresses exceeded 5%* 100, and all will be rebase to the Hot One.
Similarly, every reduction of one HP-holder address will reduce 100 tokens in the system. The daily reduction of tokens is divided into two stages of rebase:
Stage 1: When the number of addresses reduced daily accounts for less than 5% of the initial number of addresses held in the day, tokens will be reduced according to the number of reduced addresses*100, and rebase to all addresses in proportion.
Stage 2: When the number of addresses is reduced beyond 5%, tokens will still be reduced according to the number of addresses exceeded 5%* 100, and all will be rebase to the Hot One. Now the reduction of the number of addresses will only cause the decreased number of tokens in the Hot One. If the prize pool is full of BNB but no HP, or if the HP in the prize pool is not enough to deflate, then all HP currency holders will be deflated proportionally.
- Burning rate: 3%
- 0.5% for the team
- 2.5% for reward pools:
1. Staking Pool: 30% of the bounty pool, used to reward liquidity mining users;
2. Hot One: 40% of the bounty pool, used to reward the last valid address before the countdown ends. To ensure validity, you shall purchase HP tokens amount 1BNB or more within the specified time.
3. Recycle Pool: 20% of the bounty pool, will be distributed in the next round of Hot One.
4. Lucky One: 10% of the bounty pool. The user with the highest purchase price every 24 hours will get it.
In addition, if the proportion of HP tokens in the liquidity pool on PancakeSwap is less than 30% of the total, the ratio of the four prize pools will be adjusted to 60%:20%:10%:10%.
Why investing in HotPotato presale?
The initial pricing of HP is determined by the community based on the number of BNB raised and presale addresses. For example, if 160 addresses participated in the presale and 4500 BNB was raised, 16000 HP will be minted before online PancakeSwap. Among them, 8000 (50%) HP will be distributed proportionally to all addresses participating in the presale, 6400 (40%) HP and 4500 BNB will be allocated to PancakeSwap’s liquidity pool. And 1600 (10%) of HP will be allocated to Staking Pool and the Hot One at a ratio of 4:6, and the Staking Pool will release HP rewards linearly in six days.
Unlike other projects, the initial pricing of HP is also determined by the community based on the total amount of tokens and BNB raised and the number of presale addresses. In addition, Hot One and Lucky One in the bounty pool will also bring excess revenue to users participating in the presale.