Governance token. General information
HGT (Hive Governance Token) is SOL governance token of Project Hive ecosystem. HGT holders benefit from Project Hive success in general. Compared to other governance tokens, among classic DAO utilities, HGT also has in-game utilities to provide additional demand.
Players are able to earn HGT from a limited number of in-game most challenging activities. System is built on a main principal that tokens won't mint after IDO, so in-game rewards come from other players, rather than unlocked or newly minted funds.
Road to Glory
Challenging guilds have to make bids through in-game auction with HGT to take part in Guild Wars. Those who didn't bet enough will have their bids returned with a small fee. Highest bidders have an opportunity to fight for territory dominance. Acquiring territory not only provides guild with a status, but also with a huge benefit to all participants. Among other resources, winning guild receives HGT bets of challengers, who also took part in fights for particular territory.
To get the most out of your equipment Project Hive introduced an enhancement system. Players can spend HGT to purchase enhancement stones to upgrade weapon and armor. Stones can be acquired only via in-game store and purchase is limited to HGT only. Enhanced items won't provide players with unlimited advantages over others, but could become the last straw that breaks the camel's back, fighting in PVP matches, MMR ladder and Guild Wars.
Even so Project Hive provides players with unprecedented in-game HGT utilities, we also understand the importance of long term holders, artists and many others, mostly interested not in the game itself, but our project in general. We did our best to fulfill those needs by introducing DAO principals in Project Hive.
Main goal for our team was to create an ecosystem beneficial for everyone interested in our project. So we came up with a thought about benefiting both HGT holders and artists with a single mechanic. HGT is the main governance token of Hive Marketplace. Token holders have rights to vote for new skins and items added on Marketplace by community of artists. Winning skins and items will be tradeable on Marketplace from this point onwards. Creator artist receive % of fee for every community-chosen item, traded on Marketplace, as long as project exists.
HGT token is tightly built into our game mechanics. That's why DAO active participants have a certain influence over game mechanics of Guild Wars. Winning guild acquire SOL for its dominance over certain territory, among other benefits. SOL main source of Project Hive is a small fee over all items traded on Marketplace. Portion of this fee goes to outside staking pools, provided by different industry leaders. All income from this staking is redistributed to territory owners on bi-weekly basis by default. DAO provide our community with rights to vote for particular staking pool we use, what part of Marketplace fees sent into staking, as well as certain limit over amount of staking rewards territory owners receive. Voting happens on bi-weekly basis.
HGT holders are allowed to stake tokens in different staking pools. There will be a number of such opportunities. Rewards will vary and could be paid with HGT or IGT in a predetermined way. Right after IDO we will introduce at least two staking pools. One with HGT paid as rewards and another one with IGT. Both pools end the same date, right at the game launch. We reserve rights to provide community with additional staking opportunities prior to game launch. Terms of those additional pools won't be better than the starting ones.
Other important decision making aspects of Project Hive will move decision making process to DAO eventually, to make it really a community driven project. But we also understand that it's a long term process. We will try our best to introduce as many DAO mechanics in the project as soon as possible, providing even more benefits for HGT holders and making project more decentralized.