Hot Potato FAQ
NOTE: We will update this document on a regular basis!
FREQUENTLY ASKED QUESTIONS ☝️
What is HotPotato?
HP is a malleable base-money. The total amount of HP is determined by the community. For example, if there are n token-holding addresses, the total amount of HP will be n*100. Besides, the increased 100 tokens after adding a new token-holding address will be proportionally distributed to all token holders.
When is HotPotato presale?
It will be soon. Properly at the beginning of the new year 2021. Please pay attention to our official announcement on Twitter.
How community members gain their benefits?
They can gain benefits from increased token price and token amount, the prize of Hot One and daily Lucky One, and dividend from Staking Pool. It is worth noting that holding the token and stand still will benefit the community member the most since HP community will become larger and develop different module application scenarios.
What are the rules of HotPotato presale?
HP’s presale lasts 24 hours on Jan. 5. Maximum to 160 addresses can participate in the presale. The purchase limit of each address is 1–12 ETH.
Unlike other projects, the initial pricing of HP is also determined by the community based on the total amount of tokens and ETH raised and the number of presale addresses.
The presale price will be 20% off the initial price of Uniswap. For example, if 150 addresses participated in the presale and 450 ETH was raised, then 15,000 HP will be minted before being listed on Uniswap, of which 7,500 HP will be distributed proportionally to all address participating in the presale and for the remaining 7,500 HP will be used for bounty pool. For the bounty pool, 1500 HP will be allocated into the incentive bounty pool, 6000 HP and 450 ETH will be allocated into the liquidity pool.
To purchase in presale, you have to get a seat on our whitelist first. Please preregister here: https://forms.gle/ofFu2S5Gp8R3s1Wu6
What is a malleable base-money?
HP’s malleability is reflected in the following two aspects:
- The malleability of token’s amount: real-time issuance or deflation, the number of tokens changes frequently, but as long as the holder does not transfer money, the proportion of HP tokens he holds will remain unchanged forever.
- The malleability of token’s ecosystem: HP is a completely communalized base money, its primary principle is to realize fairness, justice and decentralization. Since HP needs to have rich application scenarios to reflect its value attributes, HP will develop stable coin, NFT and DAO modules in the follow-up development plan.
What are HP’s innovations?
HP’s innovations can be reflected from its definition explanation: one is the token’s generation and distribution mechanism, the other is its modular development plan.
What is the maximum supply of Hot Potato?
HP (Hot Potato) is a malleable base-money. It coexists with the community and adjusts its supply based on the number of effective holding addresses. This is no maximum number predecided.
What is the token allocation?
· 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 ETH: 40% of the total tokens, locked in liquidity pool for half-year
· Burning rate: 3%
· 0.5% for team
· 2.5% for reward pool（35% for Staking Pool，30% for Hot One，25% for Recycle Pool，10% for Lucky One）
What is the “Rebase mechanism”?
The token in the HotPotato system is rebased by the holding addresses.
As long as the holder of HP does not engage in any activity (transfer, trading, etc.) at the original address of the token received, the amount of token held by the holder can always remain at a fixed percentage of the total amount of token issued, and this percentage will not change from time to time or from events.
However, if the number of HP owned by the holder changes with the total number of registered addresses, the holder’s token amount will be automatically rebased to keep it is still in a certain proportion as before. For each additional address, the system issues 100 tokens and prorates them to all holders. And vice versa, for every address that is reduced, 100 tokens are removed from the total, and all users’ holdings are proportionately reduced.
Who can trigger a rebase?
Every HP holder.
Once a rebase is activated by changing the number of holding addresses, it will affect all wallet balances.
How to ensure security if I invest in HP?
HotPotato founders are Geek and enthusiasts of rebase and FOMO mechanism. You could count on HoyPotato for three reasons: 1) The project is totally running on smart contract; 2)Our assets will be locked for half a year; 3) Project code will be open source after we launch online.
Where can I see the detailed introduction of Hot Potato?
Website: www.hotpotato.one.
Onepager: https://hotpotatoblockchain.medium.com/hot-potato-onpager-fcb39512ecc5
What is HP’s future developing plan?
As is shown on our official website, the idea for these three modules (stable coin, NFT, and DAO) is already in place, but the final shape of HP will be entirely up to the community.
For more questions, please contact us:
Twitter: https://twitter.com/HotPotato_DeFi
Telegram:https://t.me/Hotpotatoglobal
Medium:https://hotpotatoblockchain.medium.com/
Website:www.hotpotato.one
HotPotato: Innovative “Rebase + FOMO” Mechanisms
