Hashflow Protocol (HFT) to be Listed on Binance: Should you buy?
Binance has announced that it will be launching Hashflow Protocol as its 31st project on its Launchpool. Binance users can now farm Hashflow token by staking BNB and BUSD on its platform till November 3oth, 2022. A total of 50,000,000 tokens are to be distributed daily. 40,000,000 tokens are to be distributed in the BNB staking pool, and 10,000,000 tokens in the BUSD pool.
Binance also announced that the Hashflow Protocol token (HFT) is going to be listed on the Binance cryptocurrency exchange on November 7, 13:00 (UTC).
So what exactly is this new project? How can you earn the Hashflow token? And whether it is a good buy overall? We have covered it all in this article.
What we are going to learn?
What is Hashflow?
Hashflow is basically a layer zero DEX protocol i.e. Decentralized Exchange protocol that supports multichain trading. It promises efficient exchange between different blockchains, with absolutely zero slippage and MEV protection.
You can use Hashflow just like you use any decentralized exchange project (for example UniSwap) to trade and exchange tokens. Hashflow doesn’t require you to create any accounts. All you need to do is connect your wallet (like Metamask) and you can exchange tokens.
In fact, they don’t levy any commission on token swaps and also allows you to swap native token between chains without the hassle of bridging.
Let’s look at some stats here.
Hashflow has traded approximately 10 billion dollars in volume, and 1,50,000 unique wallets interacted since its launch.
Tokenomics of Hashflow
Hashflow’s Governance Token is HFT.
19.32% of the token is allocated to the core team, 25% to the early investors and 2.5% is for future hires; each having a four-year vesting.
The remaining 37.61% is allocated for ecosystem development and 12.58% for community rewards and treasury.
The comparatively smaller amount of 3% is split exactly between Binance Launchpool and Advisor.
Hashflow will also be issuing retroactive NFT rewards to people who have been involved with the project early.
|Initial Token Supply||175,229,156 HFT|
|Maximum token Supply||1,000,000,000 HFT|
|Day Zero Circulating Supply||17.52%|
|Binance Launchpool Allocation||15,000,000 (1.50% of total token supply)|
|Binance Launchpool Start Date||November 1st 2022|
|Binance Launchpool End Date||November 30th 2022|
In short, Hashflow tokens are distributed accordingly:
The Hashflow Team and Investors
CEO Varun Kumar was the man responsible for the launch of Hashflow. Varun Kumar, a blockchain entrepreneur based in San Fransisco is a Stanford University alumni and received his PhD in Aeronautics and Astronautics from the same. He brings with him impressive work experience by having worked at the German Aerospace Center and the National Aeronautics and Space Administration (NASA).
Victor Ionescu, a tech specialist with origins in Romania serves as the CTO. He has a computer science degree from Oxford, and like his CEO has also worked in prominent companies like Airbnb, Facebook and Google.
With the funding round held in July 2022, Hashflow has managed to raise $25 million.
The major prominent investors include Jump Crypto, GSR, Wintermute Trading, Kronos Research and Altonomy. However, that is not it. Hashflow also saw investors in Kraken Ventures, Coinbase Ventures, Fabric Ventures, Spacewhale Capital, Evernew Capital, and angel investors like Meltem Demirors, Tatiana Koffman Anthony Sassano, and Jason Choi.
How can you Buy HFT?
You should be able to buy HFT once it is listed on Binance cryptocurrency exchange on 7th of November. If you do not have an account on Binance, I highly recommend you to sign up now.
How can you Earn HFT?
Good thing is you can also earn HFT tokens for free now. You can get early exposure to the HFT token by participating in the Binance Launchpool. You can stake BNB or BUSD and earn HFT in return. It doesn’t end here. You can get daily rewards and perks based on your staked token for a duration of 30 days. Stake now to earn HFT.
To stake BNB, or BUSD, open Binance app, and click on the HASHFLOW launchpool banner. Click on Stake BUSD, or BNB and stake. You will start earning from the very next second which you can claim ever hour.
What is the initial token supply of HFT?
Initial token supply of HFT at the time of launch on Binance exchange is 175,229,156 tokens.
What is the total token supply of HFT?
Maximum token supply of HFT is 1,000,000,000
How to buy HFT token?
You can buy HFT token from Binance, and MEXC.
Is the Hashflow team anonymous?
No Hashflow team is not anonymous. They are doxxed.
Final Verdict: Is HFT a good token to buy?
I think HFT is a good token that will appreciate in value over a period of time. It has some great backing from top crypto VCs.
Now that you can earn HFT tokens from Binance launchpool for free, it is recommended that you make the most of the opportunity by participating in the Launchpool in order to earn free HFT tokens. This will minimize your risk but also at the same time give you enough exposure.
If you wish to buy HFT, you can wait for sometime/day, and wait for the initial pump to settle. Once you see the reversal, you can take some position. Obviously, nobody can assure you how a token will perform at the time of listing or launch, hence you must be careful while investing in any new token.