The growth in the crypto industry has been staggering and with that growth, HollaEx has organically grown with it. With that, an update was done to the whole system that has changed a lot of the fundamentals of how the eco-system functioned.
With a huge system, the update comes big changes. As previously announced the HollaEx Kit 2.0 released on the 18th of February the old HollaEx ecosystem was upgraded to the HollaEx 2.0 along with its network of exchanges. The 2.0 update has brought much-needed liquidity markets and easy-to-edit exchange tools that took a good part of a year to build.
Along with a big update comes change, below are some of the newsworthy updates to the HollaEx eco-system and tokenomics:
HollaEx Whitepaper update
Firstly, the HollaEx whitepaper has been updated, detailing all the changes to the ecosystem-based on 2.0 upgrades.
Visit https://hollaex.com/docs/whitepaper.html for the latest updated whitepaper which details the exact tokenomics and vision of the HollaEx exchange network.
Wave Auction ends
After a little over a year of the XHT/USDT market the token has come to a mature level that the Wave Auction the early stage distribution system for XHT will stop. Tokens will still be distributed to all those that are staking XHT on projects as collateral whether their own or other projects.
Increased number of exchanges
Many new exchange members have been added to the HollaEx exchange network. Some running a cloud exchange and many more of doing their own DIY exchange. The number of exchanges/projects changes dynamically and can be viewed any time at https://api.bitholla.com/v1/exchange/stats
HollaEx Discord Channel
We've added a new channel for crypto builders to hang out in on Discord. Anyone can join at HollaEx Discord here. Alternatively, for major updates only joining the Telegram channel or following us on HollaEx Twitter is also a great way to stay up-to-date.
XHT/USDT market matures
With the growth of the open-source software, kit comes growth in usage and growth in the need for the XHT token. Below is a ~ year-long chart of the XHT/USDT market.
It is interesting to note that the crypto market capitalization as a whole at $1.7 trillion (22 Feb 2021) was a major boon for XHT and the HollaEx eco-system and coupling that with the HollaEx 2.0 release was just the icing on the cake.
It wasn't always a smooth road for HollaEx and the HollaEx token (XHT), with an almost instant 50% downswing only to be followed by a slow depression of the whole crypto market bringing XHT down to 0.05 USDT per XHT.
As the adoption of crypto, tech increased we started seeing a pick up in late December coinciding with the uptick in BTC and the rest of the market and the release of HollaEx 2.0 to boot.
Anyone can obtain XHT from the official HollaEx Exchange at the XHT/USDT market.
DeFi HollaEx Network with XHT
- On the topic of XHT, the token will have a home and long-term plans firmly in the DeFi. This will encompassing all the common mechanics that you can find in other DeFi projects such as automated smart-contracting for all the functions such as adding a coin, starting an exchange, collateralizing XHT stake, and other common functions found today will be outsourced progressively to the blockchain, cleared for automation. This should increase the reliability of the exchange network with or without bitHolla.
- One major advantage of moving to a DeFi system is the unfettered government model that can be added to the system, giving all participants that have a stake in the eco-system voting rights. Voters can guide the open-source exchange software in the most desired direction depending on how much stake they have in the system, a similar process to any other DeFi project found out there today.
Multiple revenues streams for XHT stakers
- As mentioned stakers in the HollaEx 2.0 eco-system not only have the right to vote for the direction of the system but also will continue to earn XHT distribution and other revenue streams such as network trading fees generated by the exchanges and all the accumulated donations used for adding new coins and pairs to the system.
- The new coin and trading pair adding system will be on of the first DeFi heavy areas. Those that want to add their new coin/trading pair to the eco-system and their exchange will require to contribute XHT donation to the Pool. This pool is an automated distribution pool that will periodically distribute the donated proportionally to all XHT collateral stakers. The XHT donation pool can be monitored and contributed to here: https://etherscan.io/address/0xbc078fc7151ee6c712310a9b95619020822b1270
Continues XHT repurchasing plan
- Lastly, XHT token buyback with any feels or other income generated through the HollaEx network. As a policy similar to how the Binance BNB system works any revenue generated from the network by bitHolla and the HollaEx exchange a percentage of the revenue will be used to buy XHT on the open-market and held in long-term storage. This will help reduce the circulating supply, better price all XHT related products, and reward any XHT stakers and holders alike
That's real cyber finance
And with that, we've completed the major changes made to the HollaEx exchange network. So what are you waiting for? Get help getting starting your crypto project today here or do-it-all yourself by downloading the HollaEx Kit 2.0 from GitHub.