The crypto market is about to witness another rally of bull run and many listed coins are doing rather well. however, it is important to do proper analysis of the tokenomics and functionality of a coin before investing especially during the token offerings and after listing
In this article, I am going to analyse the HY token which is the native coin of the Hybrix blockchain protocol; and also explain the impact of the listing of the token on Biki exchange
What is Hybrix protocol
Hybrix is a blockchain project that aims to solve key blockchain problems that hinder the actualisation of the vision proposed by Satoshi Nakamora of true peer-to-peer electronic cash transfer between two people without involving any financial institution. Hybrix protocol is focused on making cryptocurrency available for daily usage. The project also aims to provide solution to the interoperability problem that users face while trying to transfer value and digital assets across different decentralised ledgers. Hybrix is building a secure, fast and highly scalable financial network with a protocol that enable individuals and businesses to exchange, manage and transfer any form of cryptocurrency regardless of any blockchain it is anchored on. Hybrix protocol allow people to utilise digital assets to perform both large and small daily transactions at the smallest cost.
The Value of HY tokens
The Hybrix protocol token (HY) meets the fundamental requirements for any token to have real market value — the tokens serve a real and genuine purpose. HY tokens are the native tokens of the Hybrix network. And since the key purpose of the Hybrix project is to facilitate secure and fast transfer of value across different blockchains — and such transactions require an anchor currency, HY token are crucial to the functionality of the product. In addition, the value and exchange price of digital currencies is usually determined by transactional volume.
Listing on Biki exchange — Huge volume beyond exchanges
Biki exchange is one of the biggest and fastest growing cryptocurrency exchanges in Asia. The exchange is ranked in the top 20 by coinmarketcap based on daily transactional volume by more than 50,000 daily users. Biki exchange has entered into partnership with Hybrix project; this collaboration will strategically introduce the Hybrix protocol to a wider market. The listing of HY token on Biki guarantees a new wave of interest from Asian market. Considering that Asia is the largest continent in the world — the numbers are insanely in favour of HY token.
In times of market turbulence and low token hype, volumes of tokens on most exchanges can decrease drastically and this has a negative effect on token price. However, the price of HY token has only increased since it was listed on Biki exchange.
As Hybrix protocol is entirely based on cross-ledger transactions, HY token will see an organic transactional volume beyond exchanges. This is important because most other tokens have their value primarily driven only within exchanges, Hybrix protocol will ensure that an organic volume driven by daily usage through transactions will ensure there’s some degree of volume sustaining token demand at any time.
Cross-chain solution designed to change the market
Hybrix main aim is to disrupt the market by creating a solution that will connect all the blockchains together so that users can easily transfer cryptocurrencies in split seconds. The potential transactional volume that HY token is targeting is the entire crypto market. Clearly this give the token a massive long-term prospect.
Hybrix cross-ledger DeFi protocol has an ambitious goal of transforming the way digital assets are transferred completely by integrating the all the blockchains to its network. This is an innovation that will receive huge and swift adoption. The reason is because existing frameworks only allow inter-blockchain transfer of value to be done within crypto exchanges. Sadly this takes so much time before transactions are process. Also, transfers made on exchanges attract big transaction fees. Hence HY token is definitely a long-term option for investment.
Hybrix Tokenomics And Metrics
The HY token is originally developed on the Ethereum blockchain (making it ERC-20 token) to leverage it's efficient processing capabilities. However, to ensure a long-term scalability for the networks and connected ledgers — and to meet the transaction processing requirement of the community, Hybrix will develop it's own chain.
The total supply of HY token is 21 million — following the Satoshi Nakamoto's tokenomics for BTC . The supply of HY token will be released gradually similar to the mining of bitcoin. The amount of tokens allocated for token sale, team and airdrop is 8.1 million. Which represent around 38.6% of the total supply. The HY token is deflationary; which means it will constantly be burnt
Hybrix is already listed on Biki with huge volume. The HY token is also appreciating in volume. The team has promised to list on more exchanges to increase liquidity and break into more markets around the world. Follow the links below to get more information about Hybrix project
WEBSITE | TELEGRAM | WHITEPAPER
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