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closedEnded 5 years ago · Snapshot (Offchain)

Proposal to Whitelist Holo (HOT)

By 0x9326...aC7Ed9

Read the full proposal on Discourse

TL;DR

Proposal to whitelist HOT.
Proposed co-investment is 800,000 BNT.
There are no apparent security concerns that would prohibit whitelist status.
There is no reason to doubt the legitimacy of the Holo & Holochain project.
The benefit to Bancor is clear.

HOT token address: https://etherscan.io/token/0x6c6ee5e31d828de241282b9606c8e98ea48526e2

Project Websites: https://holo.host/ & https://holochain.org/

Token Security

HOT is a fixed supply token. Holo held an “initial community offering” from March 2018 through April 2018. Ultimately, 177.6 billion HOT was minted through a demand-determined process, with 133.2 billion HOT (75%) allocated for public sale and 44.4 billion HOT (25%) reserved for the team and company. Team tokens were not subject to vesting or lock-up periods. So, 177.6 billion HOT is treated as if it is in circulation.

Once HoloFuel is launched, HOT tokens will be able to be swapped at a one-to-one ratio for HoloFuel tokens. In January 2019, Holo stated that instead of being immediately burned, the swapped HOT will instead be kept as a reserve currency to provide liquidity to HoloFuel holders.

The contracts and addresses with the highest concentration of HOT tokens are Binance wallets and investor wallets.

https://etherscan.io/token/0x6c6ee5e31d828de241282b9606c8e98ea48526e2#balances

Project

Holo is a peer-to-peer distributed platform for hosting decentralized applications built using Holochain, a framework for developing DApps that does not require the use of blockchain technology. The goal of Holo is to serve as a bridge between the broader internet and apps built using Holochain, offering an ecosystem and marketplace in which DApps are easily accessible, as they are hosted on the internet by Holo network participants.

The Holo network will be facilitated using a token called HoloFuel, which is actively being tested on HoloPorts that were shipped to indiegogo backers in 2020 and will act as an accounting system to pay hosts for their services. A decentralised chat application and turn-based games such as chess are being tested on the current network of HoloPorts. Current testing focus is on end-user UX, developer experience, security and scalability of the decentralised network.

Holo is designed to act as a bridge between Holochain, which represents the world of crypto technology, and everyday users. The project highlights several innovations that it says will “enable a large shift in the landscape of crypto applications and currencies,” including the ability to host P2P apps on the internet for mainstream users.

The Holo network relies on a series of hosts that provide storage and processing power for DApps built using Holochain. Hosts either install software on their computer that runs in the background and automatically allocates extra processing power to Holochain-based DApps, or they operate a dedicated machine such as a HoloPort. In exchange, hosts are paid in HoloFuel, a token that is specifically designed for microtransactions. The design of HoloFuel is expected to allow the Holo network to process billions of simultaneous transactions.

The project’s business plan centers on building a P2P ecosystem of hosts and applications, comparing its intended effect on app hosting to that of Uber and Airbnb on the taxi and hotel industries, respectively. Holo charges a fee on HoloFuel transactions, so its revenue model is directly tied to growing the number of applications and hosts on the Networks

The Holo network acts as a bridge between the centralized internet and Holochain, which does not rely on traditional blockchain technology. As such, it does not rely on global consensus to secure its networks. Rather, each DApp has its own set of validation rules and a local hash chain on which it can store cryptographically signed records. When data is transmitted across multiple nodes, random peers act as validators, receiving data and verifying that it follows the correct rules. Validators use a gossip protocol to share good data among one another and warn of bad data or blacklist bad actors.

Tokenomics

HOT is the ERC20 pre-purchase credit for HoloFuel. HoloFuel is the native currency that powers the Holo hosting network.

HoloFuel will have no supply limit. Rather, it is designed to be dynamic and incorporate a credit system, allowing users to have negative balances. The supply will be controlled algorithmically, contracting and expanding in response to demand and as the relationships between users with negative and positive balances change. Holo intends for this to cause the price of its tokens to remain relatively stable from moment to moment, rather than be subject to wild, speculative price swings.

Community and Communication

You can find the most up to date information on Holo and Holochain websites. Holo is active on Twitter, Medium, Facebook, Telegram, Instagram, Youtube, and Reddit. The Holochain team also operates a forum, youtube channel and twitter. You can follow activity on GitHub The team is presented on the team tab on the Holo and Holochian websites.

Available Audits

HoloFuel will be audited when the Holo hosting network goes live. The HOT token ERC20 contract was based on Open Zeppelin standards. The only modification made was in removing the ability to burn HOT. The ICO contract was custom, with supply bonded to demand for hardware. That contract was audited by OneUp.