We have minted 1 Trillion Tokens and have it capped at that amount forever. No more tokens can ever be added. The current market trend is that people prefer a smaller token price vs a larger one. Something that costs .001 cents is more attractive to the average investor than something that costs 50,000, even if the market cap is the exact same. The idea of buying a million tokens for a cheap price and possibly having the price go to a dollar is psychologically preferable to having a price of 50,000 and hoping it goes to a million. In addition, HoneyGram is meant to be used instead of hoarded. The purpose is to send some as a tip to someone for posting something that made you laugh, or buy some new merchandise that someone was selling. By having a larger supply, people will be able to send some for fun without it costing them a lot in the fiat equivalent. There are some coins out there that mint ridiculously high amounts such as a quadrillion or more in an attempt to coax people into buying billions of coins for cheap in the hopes of it going to a dollar and becoming billionaires. By setting it at 1 trillion, HoneyGram hopes to get all the benefits of having a larger supply but avoid the tricks surrounding enormous token supply.
ICG (Initial Coin Giveaway)
A big factor with the crypto community in deciding if something is trustworthy or worth investing in is how they do their tokenomics and initial distribution. As we have seen recently with the catastrophic failure of Internet Computer (ICP) which was in the top 4 cryptos by market cap at the time of launch and has dropped 85% since then, the way that the tokens are allocated plays a huge role in people adopting it. Having a huge percentage of ownership by the creators or by VC’s is a giant turn off for most people because it runs the risk of the early investors dumping their coins to cash out and the price plummeting.
Building on that idea, I propose a new type of distribution, where literally none of the tokens are sold initially. No initial coin offering whatsoever, no Venture Capitalists getting early access for 1/1000 the price everyone else pays. All tokens will be given out for free to the influencers that we partner with, to the people who follow our HoneyGram subreddit, who follow our social media accounts, and given out in various promotions. For people who get it for free, we would hope that some will use a portion of their HoneyGram to provide liquidity to the various DEXs on Cardano. They will earn a yield from doing this and it will help the community. They are NOT required or forced to do this in any way. It is an experiment in giving them the coin for free and asking them to help the community in return. As already mentioned, the value of the token is directly proportional to the size of the network. So trying to get HoneyGram to as many different people is the overall goal. My dream is that anyone who expressed interest early on will get this token for free and become a HoneyGram whale. That they will believe in the project and hold early on when DEXs become available instead of dumping their tokens for a few quick bucks and eventually become crypto millionaires if the project becomes a success. I feel that this is the true spirit of crypto vs a handful of greedy billionaires trying to add a few more millions to their net worth.
No Marketing Budget
This project was created by regular people as a passion project and has received no funding. There is no large marketing budget and there are no paid celebrities trying to pump the price. As mentioned, we are experimenting with an Initial Coin Giveaway to distribute all the tokens for free and are enrolling as many influencers as possible who are interested in the project and are willing to accept HoneyGram. The hope is that this creates a passionate community organically that will drive interest in the token. People will talk about it with friends or post about it on social media because they are excited in the project and want to share it with others. The community behind any coin or token is a huge factor in its success and I believe doing things in this manner will create a large and passionate community. We will never utilize bots to spam social media.
With HoneyGram we decided against using all of the common coin gimmicks that we see in todays market. Like with Safemoon where anytime someone wants to sell, they are penalized a percentage and that is distributed to the remaining people. Or periodically a certain number of coins are burned to try and create an artificial scarcity. Charging someone a percentage to sell or transfer their HoneyGram is in direct opposition to its purpose of being used as a currency. The amount of HoneyGram is capped at a fixed amount forever which gives predictability to its investors and prevents and future inflation of the token. There are 1 trillion HoneyGram, and that is all there will ever be. People can buy or sell them without being penalized, as the entire purpose is to use them instead of hoard them. Review policy information here.
Development Team – 20%
Influencer Distribution (goal is over 1000) – 40%
Liquidity Pool (locked for 3 years) – 1%
Reddit Followers (goal is 1000) – 29% split between the first 1000 subscribers
Promotions – 10%