AUGUST 22, 2019 – The HYPE Project (https://hypetoken.io) has launched a social tokenomics experiment to test the crowd’s ability to collectively manage and control the inflation and deflation of a tokenomy.
This free-for-all experiment is currently in its initial distribution (airdrops) phase and users are encouraged to participate in the experiment by voting for the token’s inflationary (freezing rewards) and deflationary (burning) rates on a monthly basis.
“This experiment has been created to test if the decentralized wisdom of the crowd could be more efficient than the decisions made by a select few, when it comes to managing the monetary supply of an economy,” said Leon Song, founder of the HYPE Project.
The HYPE token contract, a combination of inflationary and deflationary tokenomic models, incentivizes voters – users who have frozen HYPE tokens – in the form of daily rewards, whilst burning a portion of the total transferred amounts on all transactions.
Voting consensus to determine the token’s inflation and deflation rates are held monthly through an off-chain decentralized application (dApp).
Disclosure: This is a sponsored press release