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One of the few things investors of cryptocurrencies look at is total supply. They evaluate and set aside a goal for that crypto project based on total supply.
Since Bitcoins supply is low, people have been putting wild price predictions on Bitcoin since its overall market cap has room to grow.
At Hodl Gold, they wanted growth beyond growth. This is why they created a new breed of cryptocurrencies, a breed known as a scarce token. A scarce token in its very nature is designed to be hard to come by.
Introducing Blood Diamond
On June 6th the Hodl Gold project released the very first scarce token known as Hodl Blood Diamond (HDLS). This token currently sits at a $184,000 market cap and has gone from a mere .21 cents to a current price of $104 (ATH was $180) in a matter of a week. This token was not only meant to be a scarce token, but its primary use case exists for the upcoming Hodl Gold Defi exchange.
As Pancakeswap has profiles on their exchange, Hodl Gold is one upping that concept and creating a VIP section for its exchange. The VIP section will consist of buying into IFOs early on, and most importantly, buying into higher stake games when the exchange launches its own gambling section.
Not only has the Hodl Gold project created Blood Diamond, but they are currently in works in creating the Hodl Gold token. With its primary use case being the native assist on the upcoming Hodl Gold Defi exchange.
Token Supply vs Value
The tokenomics behind Hodl Gold are a fixed supply of 10 million tokens, with a 3% burn on each trade. Hodl Gold is meant to be the store of value coin for Defi. By having Hodl Gold primarily being used for liquidity, it can slowly reduce its supply with each trade while growing in value by being kept in liquidity pools. This ensures some rarity in it and will define its purpose as being the go to store of value coin for Defi.
What sets this project apart from other Defi projects, is the fact that with Blood Diamond it is a brand new type of token. Even though only 2,000 tokens exist, 56% of the supply has been locked up forever. Scarce tokens have the potential to sky rocket due to Hodl Blood Diamonds ever growing interest.
With Hodl Gold aiming to be the go to store of value coin for Defi, it can possibly change native currencies for exchanges. Most exchanges are required to manually burn tokens so they can keep supply low. With Hodl Gold, the burning is automatically done.
Blood Diamond Key Features
It is completely decentralized and the exchange will never ever have to manually burn tokens. This can be a game changer for Defi since its primary focus has been the ever challenging and fluctuation of liquidity pools.
Another great thing about the Hodl Gold project is that the team has been constant talks with other smaller capped crypto projects. They believe in a community driven crypto atmosphere.
This enables other projects to promote one another while building up a community.
Some of the key highlights in the first week of launch:
2,300+ Telegram Members
12.2k Twitter Followers
Featured on Twitch
The Hodl Gold Team has stated this is only just the beginning as well.