Neighbourhoods Tokens ($NHT)
$NHTs will serve as one of a number of possible settlement currencies enabling value to flow through the bazaar, and will always be exchangeable for applet development effort. We provide the option to settle in a native token associated with the Neighbourhoods project because of the high likelihood that neighbourhoods and applet developers may be transacting across geographical regions and blockchain ecosystems, with no shared currency Therefore, $NHT is first and foremost a settlement token, offering a gateway between the Neighbourhoods bazaar and crypto markets and the liquidity benefits conferred by the latter.
Settlement will be possible through other currencies, including $ETH, $HOT, $BTC, USD, and NZD. Our treasury is geared toward facilitating withdrawal of all of these. Treasury operations will also include ensuring liquidity and ease of access for $NHT. Through protocols like Rain (rainprotocol.xyz), we aspire to make the token available across a wide variety of pairs, and decentralized exchange protocols.
Other benefits to using $NHT are as follows:
Communities can co-kickstart and co-request applet development. Using staked pools, creators of neighbourhoods can share ongoing costs with other neighbourhoods, reliably retain developer talent, and smoothen cash flow across time (effectively 'venturing together').
Should neighbourhoods choose to pool and settle with applet developers using $NHT, they will be exempt from the fee assessed on bazaar transactions.
One way to think about the Bazaar is that it is the Neighbourhood of the Neighbourhoods Project. As such, we intend to develop it through the lens of our own culture of participation, democracy, and mutual support.
$NHT holders will be able to input on management of reserves and other mechanics of $NHT to refine the way the bazaar and currency operate together. Via secure voting, holders participate in governance of strategic directions such as
- supply of token once the bazaar begins generating reserves
- utilization of reserves of the bazaar for managing supply of NHT, based on actual usage of the token.
- the structure of fees and discounts