$NHT Community Offering + Initial DEX Listing (IDL)
$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.
Over the years, 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 few 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 will host a Community Offering, followed by an initial listing on decentralized exchanges (IDL).
Figure 9: Evolution of backers and community size
It has become 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 is 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 broadly held token-audience will support $NHT price in the coming years.
Figure 10: Indicative reserve and token release model
Futher, our decision not to formalize a vesting schedule owes to the length and depth of the commitment of the team in developing the Reputation Interchange, each member of which has a significant track record, and our backers. We believe vesting is not necessary because our token generation event is not subject to an “ICO pop”; on the contrary, it is geared only toward a small number of individuals and organizations who are committed to the project over the long-term.
After listing on decentralized exchanges, we will make efforts to ensure sufficient liquidity is supplied into trading pools, in order to keep up with the growing demands of the $NHT community. Treasury operations will be a small component of our efforts in the coming months to support this.
Ticker: $NHT, an ERC-20 token initially, to be swapped to equivalent Holochain standard once possible.
Utility: $NHT derives utility as a gateway to the Neighbourhoods Network, as the currency used to settle NH-Credits within the low-code marketplace.
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’ Reputation Interchange, Scaffolding, and Low-Code Marketplace has been 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 will also be reserved for the team, and another will be reserved by management for development over the next few years. All $NHTs allotted to the public sale that remain unsold will also be held in reserves by management for project development.
The chart below details how we plan to use the proceeds of the Community Offering and Reserves