Introduction
Hopr is a protocol focusing on privacy. Built on Ethereum and Polkadot Substrate, it is sponsored by Polkadot Web3 Foundation Grants.
Token distribution
HOPR total supply: 1 billion
Cover Traffic (mining reward): 25%
Public distribution: 8.5%
Pre-Sale: 16.5%
Team and Advisors: 18.5%
Hopr treasury: 25.5%
Bounties: 6%
After community voting, HOPR token release will go through three phases:
Phase 1: Pre-sale, February 21–23
The pre-sale is limited to Genesis Dao participants, and the cost is about $0.05. Each person is limited to $800 and a total of 50 million HOPR.
Phase 2: Balancer LBP, February 24–27
The actual cost of the LBP round is about $1.5–2.2, and 30 million HOPRs will be released.
Phase 3: Uniswap liquidity mining, will start after February 27
A total of 5 million HOPR will be released.
The initial circulating supply of HOPR of 85 million, which will increase to 130 million next week, including 85 million sold tokens in the three phases, 32 million HOPR financial library releases, and 13 million testnet bounties.
In July 2020, Binance Labs announced that it will invest the seed round of Hopr with $1 million as lead investor. Other investment institutions include AU21 Capital, Focus Labs, Spark Capital, Synaitken, and Caballeros Capital.
In addition, the cost of fund-raising for off-market agency investment is $0.115–0.15, and the pre-sale share is 16.5%. But there are currently several situations: 1. The off-market quota is released by institutions that previously participated in fundraising. 2. The institutional quota and the off-market proxy investment quota together form a 16.5% pre-sale quota. 3. The institutional quotas of the previous round were mixed with the newly released quotas outside the venue.
The author inferred that the project raised somewhere between $80 million and $100 million. This will become the initial market-making capital available for the project. Since the off-market proxy investment quota will be released linearly 6 months after the project goes live, it will reduce the selling pressure of the project when the token gets listed.
Practical value analysis
HOPR has three use cases：payment for encrypted information, trading and mining.
When using the Hopr network for encrypted information transmission, you need to pay in HOPR. Secondly, HOPR is also required to participate in voting and governance. In addition, to become a Hopr network node, you need to purchase HOPR and lock it. Among them, governance and node lockup will make the actual circulation of HOPR relatively stable, alleviate the pressure on the secondary market and reduce the circulation on the market.
Comments:
1. The activity of on-chain transfers will become an important indicator to measure the value of HOPR. When the total amount of issuance and the number of tokens mining are relatively constant, the HOPR circulating in the market will reach a relatively stable condition. The demand for the network stimulates purchases, to attracts investors to store up the tokens, which will raise the price of HOPR. The indicator that reflects the demand of the network depends on the activity of the HOPR network payment transfer.
2. In the words of Hopr founder Sebastian, Hopr is a Layer 0 network that can provide privacy protection for multiple public chains. Although Hopr mentioned a large number of customers' privacy protection information in the white paper, the author believes that the biggest demand for current privacy projects lies in businesses, providing on-chain privacy protection for dApps, project parties and large funds. On the other hand, Hopr also faces competition from privacy projects such as NuCypher.
3. Hopr has been invested by Binance as lead investor.
4. The privacy network must be integrated with the storage network and the public chain, so cooperation with other projects is also one of the indicators to measure the value of HOPR.
5. Hopr has launched the hardware node device HOPR Node PC, which can run a HOPR node and a complete Ethereum node at the same time, and hundreds of people have applied for purchase.
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