The Hunt token is the utility token of the project Hunt Network. Hunt Network develops various products with the use of gamified blockchain and cryptocurrency. The aim of the Hunt Network is to create products that are quick and efficient, and also help Network users earn cryptocurrency.
Hunt Network is trying to create a dApp world in which each decentralized app will be unique. Hunt Network is trying to do so through blockchain technology and gamification effects.
The main concept of Hunt Network is to feed digital nomads. Digital nomad means remote workers. Hunt Network is a collection of dApps that is trying to empower nomads worldwide by offering gamified blockchain and cryptocurrency mechanisms.
It offers a variety of products that fulfill the specific needs of the individuals present on the network. Their products are Steemhunt, Nomadhunt, LOL Hunt, Mint Club, Dexil Club, and many more.
Hunt Token is an ERC-20 crypto token. It is the main token of the network and is used for various purposes, including the activities performed on the dApps. Hunt tokens are utility tokens, they can be used to produce value from the dApps and services provided by the platform.
It can be used to make payments in exchange for services and products on the platform.
When a user is set to perform a certain task, they need to set their reward fund and for performing that particular task, they need to pay a hunt for either ETH, BTC, or STEEM, the native token of Steemhunt.
Hunter gets a reward fund in USD, which one can convert into HUNT, ETH, or XRP tokens. Hunt Tokens have the lowest conversion rate, because of which 35% of the withdrawals on the network take place in Hunt Tokens.
There are a total of 500 million Hunt tokens in circulation presently, which are distributed among different peer groups as follows:
50% of the tokens are held for the ecosystem and community building airdrop and 20% are reserved for the purpose of business development.zA further 30% share of the tokens is divided into 10% each, which is divided into different groups and purposes. The first 10% is distributed among team members who have had more than the two-year vesting period. The second 10% was used for the first round of funding and the last 10% was used for the second round of funding.
Hunt Network is a decentralized platform that aims to empower digital nomads worldwide through gamified blockchain and cryptocurrency mechanisms. With a range of dApps, it offers various products catering to specific needs. The Hunt token, an ERC-20 utility token, plays a central role in the ecosystem, facilitating transactions and rewarding users. With a total of 500 million tokens in circulation, Hunt Network’s distribution strategy supports ecosystem growth and business development.