Hey guys,
I’ve got a really interesting and potentially disruptive new project to review today, named Hoard, which is looking to bring about a range of positive changes to the way people interact with and use cryptocurrency.
Quick disclaimer: this project, like all I review, is new to the scene and is still under development so please always do your own research. Also remember this is my opinion and not financial advice; my content is for educational and entertainment purposes only.
Let’s jump right into it!
INTRODUCTION
Have you ever wondered why crypto adoption is such a slow and painful process? The benefits of using blockchain technology and cryptocurrencies are abundantly clear- offering new and empowering financial possibilities for individuals and businesses alike. However, in most cases the lure of the benefits of blockchain based solutions are not enough to encourage actual adoption, because of usage barriers such as complications when trading between cryptocurrencies and a lack of opportunity to use cryptocurrencies in the real-world.
The problem ultimately boils down to the fact that people are generally passive and are always searching for the easiest option- and the unfortunate truth about blockchain right now is that it is experiencing many teething problems, as to be expected form an industry at such an early stage. These problems mainly relate to effective and easy interaction and utilisation of cryptocurrencies overall- complex cryptocurrency apps and blockchain incompatibility, alongside other factors, makes blockchain adoption and usage ‘too complicated’ for the average user.
For the first time ever, decentralised solutions and crypto-finance are allowing people to exercise true control over their own financial destiny- and Hoard is determined to make this a reality for as many people, and in the most empowering and effective way, possible.
PROBLEMS & SOLUTIONS
NON-FUNGIBILITY OF CRYPTOCURRENCY
Currently, there are not many options when it comes to spending cryptocurrency in the real-world, which is a considerable mental barrier to adoption for many members of the public- if it can’t be ‘spent’ like fiat money, the average person has a hard time equating cryptocurrency to a means of value transfer. There have been steps made to increase the fungibility of crypto, for example the many Bitcoin-accepting merchants worldwide, but this is often very limited in which cryptocurrencies are accepted.
The Hoard project plans to change this with their inbuilt payment system, with cutting-edge atomic swap capabilities. At the point of transaction, the atomic-swap enabled payment mechanism uses its value-matching exchange protocol to instantly change the currency being sent during the transaction, so that it is the merchant’s preferred cryptocurrency which reaches their wallet- with exchange rates automatically and instantly calculated at the same value.
This is the next step required to bring cryptocurrency payments away from almost exclusively Bitcoin, and provide much needed fungibility for all cryptocurrencies.
UNCERTAIN INVESTMENT LANDSCAPE
The world of cryptocurrency investing can be a daunting one for anybody who hasn’t had previous first-hand experience in the space. The average person has very little knowledge of the overwhelming amount of cryptocurrencies, protocols and dApp tokens available on the market, let alone how to identify good opportunities- this is preventing new money coming in from interested but unsure investors. Even for experienced investors, current tools largely leave much to be desired.
Hoard’s unique rule-based investing engine makes cryptocurrency investing simplified and effortless. Hoard’s investing mechanism caters for both the novice investor, by providing automated investment options and the ability to set user defined financial goals, and for the seasoned investor through a secondary layer of cutting-edge investing tools to aid with market research and decision-making. On top of this, users can effectively track investment performance by sophisticated charting and tools.
By providing the tools and mechanics necessary to make informed cryptocurrency investing more simple, seamless and user-defined, Hoard is enabling a layer of investor confidence, both novice and seasoned.
LACK OF SECURITY/LIQUIDITY FOR STORED FUNDS
Truly secure cryptocurrency storage is notoriously difficult to manage for the average user- almost every week we hear scare stories of funds being lost through exchange or personal wallet hacks. This is because effectively secure storage of funds often requires the use of numerous wallets and the safe and exclusive keeping of a person’s own private key. Many people prefer to shoulder the high risk of exchange hacks and keep their funds within an exchange for the purposes of easier and quicker trading opportunities– leaving their funds permanently in potential danger and always trusting a centralised exchange.
Hoard’s cutting-edge secure wallet includes a host of features which provides the best of both worlds- a secure storage solution for a range of cryptocurrencies, whilst still enabling the liquidity needed for real-time trades. This is achieved by Hoard’s use of the Smaug Network, enabling the connection of the Hoard wallet to the Hoard exchange, capable of facilitating real-time trades direct from a user’s secure wallet.
SPECIAL FEATURES
The main special feature of Hoard’s solution is how the whole platform works together to provide a vastly more seamless and attractive user experience- which could have effects which ripple far and wide in terms of adoption.
People are generally passive and unmotivated to learn or expel effort when not necessary- even if something has technical or functional benefits over a competitor, if that competitor is offering a simpler and more efficient user experience it is likely that the technically inferior option will prevail in terms of adoption. By providing a central- yet decentralised- hub for all things relating to cryptocurrency payments, investing, trading and storage, each part of the platform is based on cutting-edge technologies enabling unique features such as atomic swap transactions and superior overall user experience.
Hoard’s use of masternodes within their network allows for the community to play a central role in the functioning of the platform, whilst also having an opportunity to be financially rewarded for their active support of the underlying network. This places token holders firmly in the driving seat and encourages the growth of a healthy and active community.
TOKEN SALE DETAILS
The Hoard platform utilises the HOARD token, which enables users to gain access to the benefits within the ecosystem. A total of 300,000,000 HOARD are to be generated, with 67% allocated to all token sales combined. A hard cap of 10 million US dollars is set, with the soft cap set at 2 million US dollars.
Hoard’s main sale of their ICO began on the 15th September and is still currently running, until the 15th October. Each HOARD token is priced at 0.06 USD, with ETH being the accepted form of payment.
The HOARD tokens are to be distributed in this way: token distribution 67%, masternode community 13%, team and advisors 13%, and 7% for the reserve.
HOARD’s token sale economics are sound, with a healthy portion being distributed in the public sale which is great to see. The proposed usage of token sale funds seems solid- with the vast majority (70% combined) being used to further the project’s Engineering & Design and Marketing & Operations, ensuring adequate funds for their mammoth development and promotion.
The team have clearly taken a calculated look at their tokenomics.
CONCLUSION
The Hoard project is employing a whole new approach to bring positive changes to the overall cryptocurrency environment in a way which will do much to benefit current players in the space, whilst also helping to encourage new adoption and change the public conception of cryptocurrency as being ‘too complicated for the average user’. Thanks to Hoard, the average Joe will be able to utilise cutting-edge decentralised solutions and crypto-finance opportunities to exercise true control over their own financial destiny in a seamless and swift manner.
Their cutting-edge, outside the box approach to optimising user experience makes Hoard a particularly interesting and potentially user-empowering project, and I will be following them on their journey for sure!
I will see you guys again very soon for another in depth project review!
LINKS
Website: https://token.hoardinvest.com/
White paper: https://token.hoardinvest.com/whitepaper.pdf
Telegram: https://t.me/hoardinvest
My Bounty0x: datniccy97
Wow if they can sort real time trades from your wallet that could be massive
Love the name Hoard, brilliant branding. Hopefully the marketing will suit, if these guys aren't greedy with their cap they might have something good here.
It's a really attractive brand. The soft cap is $2m but I couldn't find a recent update on the hard cap, it was $22m but this mgiht be outdated now :)
Some features seem more exciting than others, I know he wallet has different features but its been done 100 times. The merchant opp's with atomic transactions could open the door a lot more and is what stands out to me.
cool! is there a list of supported coins?
I'm not sure about a list but they will be supporting a lot of coins apparently so you don't have to worry about range :)
Once of my current favorites very under the radar still I think.
Still very new but I think they're doing quite well with generating enough interest for their token sales regardless :)