Huddl Token Listing
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 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 so all of our users can access the token at the same time, in the same place. No single person or entity gets preferential treatment.

In summary

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 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 token has had no pre-sale or ICO, to preserve its primary function as a utility token powering the Huddl platform.
  • A limited amount of token will be available in HUDDL/ETH pair on IDEX on March 4th 2019 in order to make the token available to users in preparation of the overall platform launch.
  • 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.
  • The token being released is from the contributors pool of the Huddl token supply. Learn more about the Huddl token from this post and our whitepaper.

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.

No ICO

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.

No preferential treatment

For all the promise of democratization, ICOs and token sales have been riddled with pre-sales and preferential treatment for a privileged few, at the expense of the broader community. A large part of the token supply is pre-sold at heavy discounts, and exchange listing becomes merely an exit strategy for these early project leaders and participants, at the expense of the broader community who access these tokens on exchanges at a significant premium.

At Huddl, we plan to do this differently – with equal access and instant liquidity for everyone. The Huddl token will be listed directly on IDEX on March 4th 2019 so everyone gets access – at the same venue, at the same time, giving everyone the opportunity to join the Huddl journey at an early stage. No single person or entity has access to the token prior to this listing.

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.

Read their detailed guides and FAQ for how to deposit, withdraw, and trade on IDEX.

Controlled, limited token release

The objective of this token release is to enable prospective users to acquire the token with minimal friction. A limited amount of Huddl token will be released on IDEX in a controlled manner to create liquidity, and prevent excessive speculation.

The token being released is from the contributors pool of the Huddl token supply.

Specifically, the token will be released through a series of limit sell orders in HUDDL/ETH pair. Prices in USD are per the table below. Prices in ETH will be based on current prices on the listing date. This progressive sell order set up allows us to hold a ceiling on the token price as liquidity is gradually created. 

The limit orders will be kept open for a period of no more than 5 days, or until 5 million token is sold, whichever comes first.

In conclusion

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.

Huddl is transforming the way individuals access investment services, strategies and products. We are democratizing access, bringing Wall Street to Main Street.

Looking for an innovative wealth offering? We partner with banks, RIA’s and Asset Managers

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