For example, even if this coin gets "pumped and dumped," it benefits from the lower nominal USD value, the more coins get burned. Burn Mechanics - As stated before, the 1% burn + 1% redistribution will benefit this coin increasingly over time.It can drive value from the widespread subculture references and adoption. This token benefits from the fact its underlying technology does not have to replace any other cryptocurrency.
Whether it's weed stocks or Elon's memes about doge coin or even Gamestop, the markets heavily reward those who are holding onto these high-risk investments.
I would assert that it is my underlying assumption they will offer a superior return over other asset classes. The price action is starting to go explosive from no value to already a 10th of a penny.įor me, I'd like to preface that I am bullish on cryptocurrencies as an asset class. The primary way to trade the token is through UniSwap at the moment.ĭespite being a new coin, there already are quite a few people getting on board. So far to date, the coin has gained some recognition, getting listed on the WhiteBit Exchange and Coinmarketcap tracking. One big part of the roadmap is building the Hoge eCommerce system, allowing NFT (Non-Fungible Tokens) to be generated. This coin is looking to do quite a few ambitious things, ranging from a browser game, an open-source crowdfunding platform, tons of meme generation. The biggest benefit is overtime for holding you benefit from a shrinking supply & gaining "dividends" from the 1% distributions from other user's transactions. I won't get too into the weeds here, but over time there is a concept of Smart burn that adjusts after a certain amount is already burned to make it economically feasible for transacting. To make it simple, imagine each time you send 100 coins, 1 is forever burned from the supply, and 1 is distributed back to the existing holders. What this means is that every time HOGE is used, the value of the remaining HOGE in circulation is increased by simultaneously decreasing the supply (deflation) while also distributing HOGE to everyone using the token" This increases the scarcity of every HOGE in circulation. Every time a transaction takes place with HOGE, 2% of that transaction is distributed and removed or “burned” from the total supply. What this token does that Doge does not is it solves the problem of the fact in the long run, DOGE holders get diluted as the supply cap endlessly grows.Īccording to the whitepaper, "There will never be more HOGE in circulation than there is now. It's not revolutionary in terms of technology or capabilities, but if you've heard of DOGE, you can know that underlying technology does not necessarily drive long-term value, and "meme adoption" can go a long way. The main concept is it is built around internet subculture and derives its value from internet adoption. Hoge Finance is a deflationary cryptocurrency launched a little over a month ago built on the Ethereum network. Today I'm going to cover this new cryptocurrency Hoge Finance and why it might make sense to invest some money into it. Consider investing in new $HOGE Finance DeFi Cryptocurrency
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