Why HODL 🐝DHV?
It’s not a secret that reliable projects provide their users with revenue from a long-term perspective. We hope you think the same in terms of DeHive and our native $DHV token.
The DHV token is at the core of DeHive’s platform functionality. The platform is built to enable decentralized index issuing and management. The DeHive indexes work as an economical metric of the DeFi market while reflecting different segments of it.
DHV gives access to the DeHive ecosystem, allows for initial DeHive index redemption, index staking, custom index issuing and enables participation in the DAO along with additional protocol features.
DHV is the utility token that performs power of work within the DeHive platform. You need to HODL 🐝DHV for:
- DeHive index staking;
- Participant in yield generation for index staking;
- Taking part DHV liquidity mining;
- Protocol governance;
- Custom index issuing;
- Protocol economy support during index redemption;
- Cross-chain operations;
- Future participation in NFT-indexing functionality;
Let’s take a closer look at all of those features...
DeHive Index Staking & Yield Farming🤑
The DeHive system will enable the opportunity to stake the indexes in order to earn a yield on the underlying tokens (of the chosen index). In order to obtain the yield, users need to stake the DeHive Index along with a supporting amount of DHV tokens. The DHV deposit will be returned to the user together with the profit from the yield farming after unstaking (which is available at any point).
DHV Token Mining💸
After users stake their indexes with a certain amount of DHV, the platform will enable the DHV mining option. Here, the protocol will start to generate additional DHV tokens in an equal proportion to the deposited amount.
After the unlock, users get their indexes back along with the yield farming reward converted into the index as well. Furthermore, they receive the deposited amount of DHV and all of their unclaimed DHV tokens from the liquidity mining protocol.
Custom Index Creation & Protocol Governance⏳
DeHive is the first-to-market protocol that will allow for custom index creation. Thus, the DeHive platform will become a place where experienced traders and platform users can issue their own indexes featuring their own unique set of crypto assets.
Custom index initiation, issuing and redemption will be handled through the DAO mechanism. In order to introduce any custom index, the platform will require a supporting amount of DHV tokens to place an offer of any underlying set.
This will further require approval from protocol users that are also DHV token holders. As long as the underlying assets are accepted, the platform will enable custom index issuing and listing.
Index Redemption🔄
The DeHive platform has a simple and clear procedure for index redemption. In order to redeem, the user contributes the index or indexes to the platform and provides a certain amount of DHV tokens along with it.
This portion of DHV will go to the protocol treasury and participate in subsequent rounds of liquidity mining, rewards distributions, etc. Therefore, the user can be sure that they are supporting the protocol economy while making a redemption.
In return for the index (or indexes), the user receives the corresponding amount of ETH at the current market price, which is provided by the system of integrated oracles.
📣Future plans
Even though DeHive will launch on the Ethereum mainnet, we have formidable plans for further expansion. Binance Smart Chain and Avalanche are first on our list and are already included in our roadmap. These are young EVM-compatible blockchains, both with fast-growing DeFi ecosystems.
Due to our cooperation in the past, we see huge potential in Solana as a fast-growing dApp platform, so DeHive will most likely expand to this market. We are super excited about cross-chain asset indexes and are already actively working on bridging different chains.
The NFT market is performing very well nowadays. Therefore, we are working in several directions and concentrating on creating a space for NFT index issuing, using NFTs as a tool for index representation and providing utility value for NFTs within the protocol.
👉Learn more about DeHive NFTs
All of these concepts are already carefully planned in our roadmap and will be released gradually in accordance with it. Ownership of DHV will allow you to freely participate in all of these mooted features! Stay tuned for more updates.
Want to dive deep into DHV tokenomics and the token’s place in the DeHive ecosystem?
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