Dear Hoo users,
HOO is the Token of all-ecological products of Hoo platform, with a total amount of 1 billion. And 100 million will be produced through the HooPool, including airdrop, liquidity mining, no-loss PoS mining, trading and so on. HooPool, as the companion component of HooSwap, will support the mining of market making receipts produced by HooSwap, thus helping to improve HooSwap's liquidity and user experience.
HOO produced through HooPool will take precedence over other distribution methods, that is, before other distribution methods of HOO are announced, all HOO, in circulation on the market comes from the output of HooPool.
100 Million Hoo Token Distribution from HooPool:
- 10 million Hoo Token released through two rounds of airdrop, the first round airdrop HOO to VIP users.
- 10 million Hoo Token is released in the form of no-loss PoS mining, with 7 million released in 30 days, with 3 million reserved for follow-up plan.
- 80 million Hoo Token is released through HooSwap liquidity mining, which will release more tokens for incentive due to the risk of impermanent loss.
HooPool Mining Rules
- HooPool's dual-token mining pool will support optional pool, voting pool and ranking pool. The favorite pool will choose popular projects in the market for mining. Tokens with the most votes and the highest liquidity ranking will also become the mining pools.
- HooPool will assign different mining weights to different mining pools, and mining in high-weight pools can enjoy more benefits.
Introduction to HooPool's Pool Weight
- In order to encourage users to add liquidity in important trading pairs, different weights will be considered for different trading pairs, and the default weight coefficient is 1.
- Different from other Swap mining schemes where each mining pool is a fixed amount, HooPool uses a liquidity scaling mechanism.
For example: there are 4 pools for no-loss mining, which are BTC, ETH, EOS, USDT. If the BTC pool has 70 million USDT worth of token, and each of the other three pools is 10 million USDT, then the ratio of mining distributed to each pool is 7:1:1:1.
HooSwap Fees Rules:
The transaction fee is 0.3%. Among them, Hoo designated mining pools, 0.2% distributed to liquidity providers, 0.1% distributed to the platform. Undesignated mining pools, 0.25% distributed to liquidity providers, 0.05% distribution platform.
Hoo Team
September 25, 2020
