The HBT token swap is live! 🚨
You can now start to swap any listed token on the Habitat Token page and get HBT. The audit of the "Token Turner" contract was done successfully via the LeapDAO peers.
Update: The fair launch has concluded successfully. Please check the Token page for more info.
Key Takeaways 🔑
—> 12 Weeks from today, running until 02.06.2021
after that period, no HBT can be bought or returned via the token turner contract.
0.25 DAI per 1 HBT
—> 2% of total supply
—> 84% - locked via governance, distributed via droplet.
—> 14% - 3 year vesting for team & operations, distributed via droplet.
Read more about the Token Economics and HBT utility here <—
The entire total supply is minted on contract creation and 2% are transferred to the Token Turner Contract.
Soft Governance ⚖️
In the next few days, Habitat will launch the first iteration of the Feature Farm v0.5.
Under “Evolution 🌱” HBT holders can then upvote the most important milestones or submit improvements and suggestions via the GitHub interface. Everyone can see the progress of each open issue, ask questions and support with code or ideas.
The app will be live next week, let’s scale together!
Token Turner Contract 💃🏻
Token Turner Swap Example:
A buyer who swaps 1000 DAI for 4000 HBT in any of the 12 weeks can reclaim the full DAI amount in the same calendar week of purchase.
The allowed reclaim amount will decay with a rate of 4% at the beginning of each new epoch. Any decayed DAI amount can be withdrawn by the project developers to fund and sustain the ongoing development of the project.
The HBT valuation depends on DAI, the contract takes any token as payment but swaps it to DAI via Uniswap, if necessary. The reclaim payout also happens in DAI.
This mechanism allows to calculate the risks beforehand and removes the possibility of volatility that could destroy the funding goal and block further development.
After the time-lock is lifted, all HBT tokens (both locked and leftover from bootstrap) on the token turner contract becomes available as subject to governance by HBT owners.