Introduction to $NHCT
$NHCT
NHCT (HurricaneToken-NFT) is the governance token, and can only be generated by burning HCT with no early investors, team rewards, mining gains, etc. Besides governance rights, $NHCT holders can also enjoy lots of benefits from the platform.
Max supply: 120,000,000
Token Contract: https://snowtrace.io/token/0x3CE2fceC09879af073B53beF5f4D04327a1bC032
Utility
- DAO governance.
- Trading fee discounts.
- Dividends from platform trading fees by staking NHCT.
- Voting for the use of the promoting banners on the website.
- Whitelist for new collection series that has an initial supply on Hurricane NFT.
- Yield farming with HCT rewards by providing liquidity for NHCT trading pairs.
How to obtain $NHCT?
Users can stake HCT to get sHCT and obtain exchange quota by locking sHCT. The maximum quota (calculated in HCT) is 30% of the amount of locked sHCT.
The amount of HCT used to burn to get NHCT should be no more than the quota, and the burned HCT will enter the null address and cannot be retrieved.
***Burn HCT rather than the locked sHCT, and your locked sHCT will be unlocked 180 days after you locked.***
The “CONVERT” page on https://hurricaneswap.com will be available on 22:00 Apr 10 (UTC)
The generation of NHCT is divided into two stages: the initial generation stage and the 2nd generation stage.
The Initial Generation Stage
This stage is for the initial distribution of NHCT.
Only users who have locked sHCT in the locking contract (contract address: 0x0b6D1C3E60722123718FaF13bFc48270BD14E9A9) before block 11071850 (February 18 2022, 09:00 AM UTC) can participate in the initial generation. These users can mint an equal amount of NHCT tokens by burning a specific amount of HCT.
The initial generation of NHCT is subject to the following conditions:
- The quota (the amount of HCT that can be burned) is equal to 30% of the total amount of sHCT locked by the user before the block height of 11071850.
- All the quota will be available on Apr 10.
- After users burn HCT and mint NHCT, all their NHCT will be released immediately.
- Exchange ratio: burn 1 HCT to mint 1 NHCT
- The quota used in the initial generation stage cannot be used again in the 2nd generation stage.
E.g.
If the user locked 1 million sHCT at block 11070000, then he can get a 300,000 HCT quota for exchanging NHCT. Then if the user decides to burn 300,000 HCT, he will get 300,000 NHCT immediately.
The 2nd Generation Stage
This stage is the primary generation stage of NHCT, and will be available on May 10.
The details will be announced later.
About Hurricane NFT:
Hurricane NFT is (1) the 1st cross-chain NFT DEX based on Avalanche, through which users can trade NFTs on any chain and save a lot of time and cost for cross-chain NFT transactions; (2) an NFTFi Platform, which will focus on exploring NFT financial derivatives such as NFT fragmentation protocols, insurance and options to make NFT a more credible investment target and realize the financialization of NFT.
