Hodlers Network: Averting Deception of Their Holders Through Social Media Verification

Hodlers Network is built on the Binance Smart Chain (BSC) Network, it aims to solve the problem of scam activities that are becoming prevalent in the DeFi ecosystem via verification.

By
Wilfred Victor
on
May 20, 2021
Category:
Sponsored

What is Hodlers Network?

Hodlers Network is an extra layer of protection for the investing communities, and a social network to help expose both new and old businesses, keeping users away from scam projects. The network will work with innovative technologies and approaches to establish trust, and give the community the reviewing power to vet projects.

Hodlers Network


Key Features

  • Wallet Based ID network
  • Social Network
  • Project Reviews
  • Reward System


Project Components

Wallet Based ID Network:

This feature helps keep track of projects through verification and, in turn, verifies other users and projects. Hodlers Network will be the first blockchain-based social network that uses a verified wallet ID network to establish connections between participating entities. The aim is to identify good and bad actors via the wallet ID verification process. This will allow the community to track scam entities, keeping the community safe from rugpulls and improve the trust rating of DeFi.

Social Network:

Hodlers Network will provide a social network wherein projects, project owners, individuals, and businesses can collaborate. The goal is to get more exposure for their enterprises in a safe and intuitive environment. Users will have the opportunity to join coin groups, follow their favorite influencers, and contribute their opinion to any new and old project.

The network will be structured in such a way that businesses that refuse to be open and transparent will find it difficult to excel. For example, it is typical for DeFi users to rely on the trust ratings of others when making an investment decision. The verification process follows a social network pattern. As a verified user, you can also verify others. This act of public KYC will help protect the community from scammy activities, including hacking and rugpull events.

Hodlers is integrating a mining system so members can be rewarded for performing certain actions such as sharing, liking, reading, comment, etc. Each social action within the social network will be rewarded with a certain amount of HDLN. 


Project Reviews

It is common knowledge for users to rely on the review of others to help make a better judgment. Hodlers network will be that platform where users will be enabled to fulfill that role and help make DeFi a trustworthy environment to do business. Typical audit companies in the blockchain only audit codes, in Hodlers Network, the roles are expanded to community review and public opinions about the project, business, website, etc.

Having a public project review will reduce the cost for verification of business and act as a better means of a much cheaper advertisement for companies. It is further outlined in the following video: 

https://twitter.com/HodlersN/status/1388127952882343939

Reward-Based:

When users help verify other users, they get paid. The platform offers a real-time database for companies and individuals wherein all users’ profiles will contain important information like wallet ID, name, email, social media. HDLN, the platform native token, will have intrinsic value for itself that will develop over time. 


Audit

Desert Finance Audit

An audit of the platforms smart contracts by Dessert Finance has been successfully conducted, showing no critical issues. A Certik audit is ongoing for the project as it gets set for its Initial Dex Offering (IDO) coming soon.


Tokenomics

At the time of this review, the tokens are not issued yet as IDO is still planned.

  • The token is not deflationary (no information on this)
  • Total supply, according to Bscan, stands at 100,000 000 HDLN


Token Distribution

Token Distribution

Roadmap

Platform Roadmap

Q2

  • Improvement on Website
  • Contract audit with Dessert Finance (done)
  • Contract audit with Certik (ongoing)
  • Presales end
  • New team members
  • IDO on BSCstarter
  • Listing on Pancakeswap, Coinmarketcap, and Coingecko
  • Start of Marketing 
  • Listing in Exchanges
  • Trust review website official launch

Q3

  • Hodlers Network launch in July
  • New Design on Website
  • Hodlers Launchpad
  • Definitive and Complete Team

Q2 development is active; a large portion of the plan is currently under development. Q3 will bring in all the platform iteration and launchpad for the Hodlers Network and increase its value both long and short term. The Project aims to continuously innovate along the way through several updates. The team has stated that, 

“any suggestions will be well received to make our Project better and even more satisfying to our community. We work for them, and want to hear them and make them happy about it.”



In Conclusion

Community opinion is a more trusted review process anywhere in the world. The audit platforms already established in the blockchain only review codes and not the project fundamentals and people’s opinions. Hodlers Network will give a much better and defined review process to the DeFi community.

Hodlers Network


Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC, it is crucial to reference the following items, HERE and HERE.

This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.


Users who wish to learn more about Hodlers Network should check out the following resources and media pages:

Website

Twitter 

Telegram

Medium


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Wilfred Victor

Ace finds himself as a blockchain enthusiast who is focused on growing with the entire crypto sector. He is an energetic and passionate writer who believes that all things are achievable.

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