Huddl Token Overview
Inclusive. Liquid. Unique.
Token economics holds the promise of fair opportunity for everyone. However, rather than opening up the opportunity to the general public, ICOs and pre-sales of 2017 and 2018 granted early access to the wealthy at significant discounts. As a result, the general public bore the risk of accessing these tokens at significant premiums. In our minds, this is no different from the wealth gap the traditional financial system created, which has led to the richest 1% owning 45% of the wealth.
Huddl stands for providing everyone a fair opportunity, which is why we chose to develop our platform first without conducting any pre-sale or ICO. In the same spirit, we are leveling the playing field by listing our token in a unique and fair manner on both a single decentralized (IDEX) and centralized (BitMart) exchange so all of our users can access the token at the same time, in the same place, on their venue of choice. No single person or entity gets preferential treatment.
We are making the decision to add our tokens to only two exchanges, at this time, solely in preparation for both our upcoming Beta and Launch. By making the token accessible on public platforms, it allows us to properly test all aspects of our platform and technology to ensure users do not encounter any problems whatsoever. Releasing the token prior to launch is solely for this purpose so as to ensure a flawless customer experience.
The Huddl platform:
- Huddl is the first platform where everyday investors can collaborate, pool their assets and get access to products and services previously only available for the wealthy.
- Huddl has already established contractual relationships with several leading service providers providing best-in-class services to power the Huddl Platform — including KYC/AML, banking, and both traditional and crypto asset custody.
- Huddl platform development has been completely funded by the founders, and the mobile app (both iOS and Android) is currently undergoing progressive alpha testing.
The Huddl token:
- The Huddl token is a Utility token that is used on the platform as a payment and rewards mechanism necessary to execute certain functionalities involving both features used and contributions made to the platform. By spending and earning the token, users, partners and contributors all participate in unique ways to enrich the entire Huddl ecosytem.
- The token has had no pre-sale or ICO, to preserve its primary function as a utility token powering the Huddl platform.
- IDEX is a leading decentralized exchange that effectively delivers healthy liquidity alongside the original blockchain promise of limited intermediation and self-custody. Read their detailed guides and FAQ for how to deposit, withdraw, and trade on IDEX.
Platform development first
Huddl platform development began in 2018 and has been funded by the founders. Huddl has already established contractual relationships with several leading service providers providing best-in-class services to power the Huddl Platform — including KYC/AML, banking, and both traditional and crypto asset custody. The team has been alpha testing the mobile app on iOS and Android since December 2018, and we look forward to engaging the community for beta testing in the coming weeks.
The Huddl token multiplies the power of the Huddl platform by providing a fair and transparent mechanism to monetize its utility. The token aims to incentivize all contributions that lead to overall platform growth by rewarding users, partners and contributors, while also acting as the primary payment mechanism to unlock powerful functionality on the Huddl Platform.
The crypto industry as it stands today has been flooded with numerous Initial Coin Offerings (ICOs) promising to create self-described revolutionary products or services. Many ICOs have no product, service, or development team — simply an idea for a future business — and are exclusively used as a capital raising mechanism. Utility is commonly an afterthought for an overwhelming majority of tokens where most never deliver on their early promises. Those that do receive funding often struggle to define how their token will have any utility for their platform, product, or service while struggling to find any viable use-case, or securing those critical relationships they need to ensure a working platform.
The Huddl token has had no pre-sale or ICO. A limited amount of token will be released as part of the overall platform launch to ensure users have the necessary tokens to access the platform. The platform will be fully available within a very brief time frame rather than the typical 18–24 months period of uncertainty involving past projects and their ICOs.
Listing on decentralized exchange
Centralized exchanges function as custodians to large amount of customer assets, and have proven to be easy target for hackers. The bear market of 2014–2015 was triggered by the massive hack of Mt. Gox, and exchange hacks continue to be a fairly regular occurrence ever since. Moreover, many centralized exchanges go against the crypto spirit by acting as gatekeepers (“intermediaries”) to the crypto economy. They charge high fees for listing new tokens, and create significant barriers to entry for small projects, much like the intermediaries the original blockchain manifesto promised to remove from an overly intermediated market.
Decentralized exchanges, on the other hand, leverage the inherent security of the blockchain by allowing participants to maintain control of their assets. First generation decentralized exchanges suffered from lack of liquidity, and struggled to scale. However, second generation DEXs, like IDEX, have effectively combined the scale and speed of off-chain order books, with the security of on-chain settlement, at significantly lower friction and costs for users.
IDEX combines the speed and scale of an off-chain orderbook, with the security of on-chain settlement, at low friction and costs for users.
IDEX is the most liquid decentralized exchange per https://dex.watch
In 2019 so far, IDEX has averaged daily trading volumes greater than 10,000 ETH.
IDEX supports real-time trading and high transaction throughput, limit and market orders, gas-free cancels, and the ability to fill many trades at once. DEXs are the future of the crypto economy, and the Huddl team is excited to contribute to their growing liquidity.
The Huddl token multiplies the power of the Huddl platform by providing a fair and transparent mechanism to monetize its utility. The token aims to incentivize all contributions that lead to overall platform growth by rewarding users, partners and contributors while also unlocking powerful functionality on the platform. Our token listing is part of the overall platform launch, and embodies the same principles of fairness and inclusiveness that the Huddl platform is built on.
Huddl is an ERC-20 token deployed on the Ethereum blockchain. The smart contract can be found here.
DISCLAIMER: Purchasing Huddl tokens provides access to the Huddl platform through which you can connect with service providers and thereby make investments in diverse asset-classes and services, however, simply purchasing Huddl tokens themselves is not an investment, passive or otherwise. To understand any risks and disclosures related to the Huddl token, please read our whitepaper.