June Coin Update

Coin Update

Many of you are following our weekly updates that we provide to keep-up-to-date on our progess. We wanted to provide a more comprehensive, yet brief update that also includes information and demos for HODLVERSE. On the Coin front, we are continuing to optimize the Coin Wallet, Coin Swap, and DeFi tools with bug fixes and infrastructure migrations. To increase performance and optimize on costs, we are migrating a number of different services from Google Cloud to Moralis for various core web3 and server functions.This helps reduce costs and management overhead in the overall architecture/infrastructure. We’ve continued to QA and test the platforms and they are ready for release as a public beta. We will work with the community to determine the best approach and strategy for public release.

We’ve also begun exploring some new features for the wallet including NFT support and modular architecture design for more robust performance.

HODLVERSE Update

The teams have also made significant progress that include:

  • Cross-chain native wallet
  • Wallet integrations
  • DeFi services including swaps, farms, staking, and more
  • Immersive 3D experience
  • In-game network switching between Ethereum and Binance Smart Chain
  • Character movements
  • Multiplayer sessions
  • 3D object placement and customizations
  • and more!

Here are some demos available to demonstrate the great work the team has accomplished to-date.

Metaverse Demo

Wallet Connect Demo

DeFi Swap Demo

More demo videos will be provided with the goal of releasing a build on TestNet for the community to test in the future.

The tokenomics for HODLVERSE have been set and carry the following structure.

Allocations are simple and cleanly divided between major core tenets including engineering, liquidity, business development, marketing, and more. As a part of the negotiations that including investment of the Coin treasury for an allocation of future MONEY tokens, we secured 10% of the total token supply. As a result, Coin token holders will receive an airdrop value equivalent of 1 $MONEY token to 1 $COIN token in the future.

Strategy

HODLVERSE does not intend to hold any direct token offering. To raise funds, HODLVERSE will be offering NFT’s for the network. This will include, but is not limited to:

  • Characters (Avatars)
  • Land plots

NFT holders will also be eligible for a token airdrop of MONEY tokens in the future. Details regarding the NFTs collections and future airdrops will be outlined on HODLVERSE’s website and blog at a later date. This will be the only method to obtain MONEY tokens

HODLVERSE plans to be patient in executing its strategy for the following reasons:

  • Market Conditions: Current market conditions in crypto lack clarity due to the recent events surrounding Luna, Celsius, and 3 Arrows Capital. We also believe that there is a strong possibility of contagion that will impact other related companies in the industry. Coupled with a global economy that is on the risk of a recession (rising interest rates, supply chain issues, ongoing war, ongoing pandemic, inflation, etc.), we believe that we will continue to exhibit a draw down in stocks, cryptocurrencies, and overall consumer liquidity. It is our goal to launch when market conditions improve as network participants and NFT/Token holders can benefit from a correlated rise in the markets.
  • VC Interest: In 2022 to-date, venture capital firms have collectively raised trillions of dollars to invest in Web3.0, metaverse, and blockchain game-related companies. It is our goal to align with strong VC firm’s in this space for advisory, network access, and additional funding to execute the long-term vision for HODLVERSE. A strategic investment can impact the respective timelines for the overall strategy.

Timelines are yet to be determined and will vary based upon the variables above. Coin token holders should continue to sit tight and stake your tokens until further notice. We will provide more updates as more news develops around engineering, operations, and business development. All information including the above will be officially published via the HODLVERSE website and social media in the near future. Marketing and community development will also commence soon as well.

We hope that you are all as excited as we are. Our team strongly believes in the potential of Web3 and the direction that the industry is headed. But most importantly, the opportunity for Coin and HODLVERSE to participate and play a part in this growth.

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