Community Update 5 November 2020

Hello StakeHODLers,

Today we wanted to expand a bit on the concept of redistribution.

The redistribution has been a core concept of the HODLC project since its inception. The concept springs from the fact that HODLC is based on altruistic tokenomics. That means that, unlike most crypto projects, the team behind the project didn’t make money from the sale of the reserve assets. No pre-sale, token sale, or public sale has ever been made. Instead, the funds used to purchase the reserve assets were redistributed to the community.

As the project grows, so has this mechanism.

HODLC’s Redistribution Mechanism

The team worked hard to come up with a solution that would benefit all community members.

Now, the redistribution is calculated once per month. Every month, the Ether used to purchase assets from the reserve (in that month) will be redistributed to each HODLC holder, proportionally to their HODLC holding.

This means that you are eligible to take part in the redistribution as long as you have at least one HODLC.

Important Points about Redistribution

Claiming the redistribution must be done monthly via a claim button. Unclaimed redistribution will remain in the smart contract until it is claimed. Redistribution cannot be forfeited, so once a community member begins the claiming process, all claims must be fulfilled.

The equation to calculate this for any single community member is:

redistribution = (total number of assets to redistribute / total number of circulating HODLC) * number of HODLC owned

Hot Tip

To reset MetaMask:

  1. Click the account icon in the top-right corner of MetaMask.
  2. Select Settings.
  3. Select Advanced.
  4. Scroll down and click Reset Account.

Happy HODLing!

The HODLC team

HODLCommunity proposes the vision of a sustainable economy for anyone, either individual or organization by the usage of a disruptive new algorithmic token