$NHT will also serve as a funding vehicle for the development of the code infrastructure behind the Neighbourhoods network and as a gateway to liquidity for the Neighbourhoods project in the years to come. It has been intentionally designed as a simple, fixed supply of tokens that operate as a ‘ramp’ in and out of the Neighbourhoods network.
The Neighbourhoods project has been funded by early-stage-backers in varied capacities. These early stage backers have followed progress of the project over the last couple years. This number has been growing steadily, and is expected to expand exponentially in the coming years. In order to seamlessly engage with these individuals, we hosted a Community Sale, followed by an initial listing on decentralized exchanges (IDL).
Figure 9: Evolution of backers and community size
It was commonplace to issue tokens through Initial Dex Offerings (IDOs) on DeFi platforms, in order to limit transaction fees, establish a beginning price, and especially to generate liquidity for early purchasers. Our decision to do a small, community-oriented sale before listing on dexes was based on transitioning from an informal network of early stage backers, to the next layer of people who have been keen to support us. We believe this transition into a broader token-audience will support $NHT price in the coming years.
Figure 10: Indicative reserve and token release model
$NHT Smart Contract Details
Ticker: $NHT, an ERC-20 token
Utility: $NHT derives utility as a gateway to the Neighbourhoods Network, as the currency used to settle within the Bazaar.
Issuance network: Initial issuance Ethereum & Polygon (MATIC). Subsequent migration to Holochain based ERC20 equivalent standards may occur.
$NHT max total supply is 30bn Tokens, with 10bn circulating upon the CO + IDL.
Allocation of 30bn $NHT
The development of Neighbourhoods’ Social Sensemaker and Neighbourhoods Bazaar is a multi-year long, iterative process between the team and with community members. Certain community members have also privately funded this development in return for discounted $NHTs.
A certain proportion of $NHTs was also reserved for the team, and another was reserved by management for development over the next few years.
The chart below details how we used the proceeds of the first Community Sale and Reserves