ICO FAQ
1. What is Huione Chain?
Huione Chain is a decentralized Layer-1 blockchain platform and a leading Behavior Value Incentive Blockchain (BVI). On Huione Chain, every interaction creates value, and every contribution is rewarded. Through its unique BVI system, user actions and contributions are accumulated and converted into rewards in real time. Huione Chain provides high-performance blockchain solutions with fast transaction speeds, low costs, strong privacy protection, and decentralized governance, making it a dynamic, innovative, and vibrant ecosystem.
2. What is the purpose of the Huione Chain ICO?
The Huione Chain ICO is aimed at distributing HC coins, the native cryptocurrency of the Huione Chain. The funds raised will be used to further develop and expand the Huione Chain platform, enhance infrastructure, and drive marketing and partnership initiatives.
3. What are HC coins, and how are they used?
HC coins are the native utility coins of the Huione Chain. They are used for:
Transaction fees: Paying fees for transactions within the Huione Chain.
Staking: Participants can stake HC coins to earn rewards.
Governance: Coin holders can participate in platform governance by voting on key decisions.
Rewards: HC coins are distributed through the BVI Airdrop program, incentivizing users for network activity.
4. How can I participate in the Huione Chain ICO?
To participate, you need to:
Create a compatible cryptocurrency wallet capable of receiving HC coins.
Subscribe during the ICO using supported cryptocurrencies such as BTC, ETH, or USDT.
Each participant can subscribe to a maximum of 10 sets (each set worth 10,000 USDH), with a total individual cap of 100,000 USDH during Phase 1.
5. What is the issuance price of HC coins?
Phase 1 ICO price: 1 HC = 0.05 USDH.
6. What is the Behavior Value Incentive (BVI) and how does it work?
The Behavior Value Incentive (BVI) system is a core feature of Huione Chain and is designed to reward users for their contributions and interactions on the network. Here’s how it works:
Every transaction, transfer, or activity on the network accumulates "GV" (Good Vibes).
This GV is collected over each epoch (a fixed period of time).
At the end of each epoch, the accumulated GV is converted into HC coins, which are distributed to participants based on their network activity.
The more active a user is, the more GV they accumulate, ensuring that every contribution is fairly rewarded.
This system creates a fair and transparent value distribution model and encourages long-term participation and engagement within the Huione ecosystem.
7. What is the total supply of HC coins?
The total supply of HC coins is 10 billion. The breakdown of coin distribution is as follows:
BVI Airdrop: 50% (5 billion coins) – Distributed based on user contributions through the BVI system.——Phase 1 ICO Allocation: 300 million HC (representing 30% of the 10% allocated for investment).
Staking Rewards: 10% (1 billion coins) – Released based on staking weights and governance.
Investor Allocation: 10% (1 billion coins) – Distributed over 2 years.
Team Allocation: 10% (1 billion coins) – Released quarterly over 3 years.
Early Contributor Allocation: 10% (1 billion coins) – One-time release at the time of the mainnet launch.
Community Allocation: 7% (700 million coins) – Released through DAO governance and community initiatives.
Airdrop: 3% (300 million coins) – Distributed through additional airdrops.
8. What are the soft cap and hard cap for the ICO?
The soft cap is the minimum amount of funds required for the ICO to proceed, set at 12,000,000 USDH.
The hard cap is the maximum amount of funds that will be accepted during the ICO, set at 15,000,000 USDH.
9. Will there be a vesting period for coins?
Yes, coins allocated to the team and advisors will follow a vesting schedule:
Team coins: Released quarterly over a 3-year period.
Investor coins: Released over a 2-year period.
10. How can I receive HC coins after the ICO?
After the ICO concludes, HC coins will be distributed to the wallets provided by participants. Ensure that your wallet is compatible with HC coins before participating.
11. What are the unique features and advantages (USP) of Huione Chain?
Huione Chain stands out due to several key features:
High Transaction Speed: With a transaction throughput of more than 50,000 TPS (transactions per second), Huione Chain ensures that the network can handle a large volume of transactions efficiently.
Low Transaction Costs: HC transactions cost less than 0.005 USD, making it highly cost-effective for users and developers.
Scalability: Huione Chain uses sharding and parallel processing, which allows it to scale easily without congestion or high latency.
Strong Privacy & Security: Multi-layer encryption ensures that user data and transactions are kept private and secure.
Decentralized Governance: The platform is governed by a community-driven voting system, giving coin holders the power to vote on important network upgrades and decisions.
BVI Airdrop System: A unique reward mechanism where user behavior directly translates into rewards, making every interaction valuable.
12. Are there any risks involved in participating in the ICO?
Yes, participating in ICOs and holding cryptocurrencies involves risks, such as:
Market volatility: Cryptocurrencies, including HC coins, can experience extreme price fluctuations.
Regulatory uncertainty: The legal status of cryptocurrencies and ICOs can vary by jurisdiction.
Security risks: Despite our security measures, blockchain networks are not immune to hacking or malicious attacks.
Please review the disclaimer and understand all risks before participating.
13. Can I get a refund after participating in the ICO?
No. Contributions to the ICO are non-refundable. Once HC coins are issued, they cannot be returned or exchanged. Participants are encouraged to carefully consider their decision before participating.
14. Are there any geographic restrictions on participating in the ICO?
Yes, residents and citizens of certain jurisdictions, such as the United States and China, are restricted from participating due to regulatory constraints. Please ensure your participation is legal in your jurisdiction.
15. What are the tax implications of buying and holding HC coins?
Participants are responsible for determining any tax liabilities associated with the purchase, holding, or use of HC coins. The tax implications vary by country, so please consult a tax advisor to ensure compliance.
16. How will Huione Chain ensure the security of the ICO?
Huione Chain implements multi-layer encryption and security measures to protect the ICO process. However, participants are also responsible for securing their wallets and taking precautions to prevent phishing attacks or unauthorized access.
17. Where can I find updates on the ICO?
All updates related to the ICO, coin distribution, and other important information will be posted on the official Huione Chain website: https://www.huione.org/. Make sure to check for announcements regularly.
18. What will the ICO funds be used for?
The funds raised through the ICO will be allocated towards:
Further development of the Huione Chain platform.
Network infrastructure upgrades.
Marketing and community outreach efforts.
Partnerships with dApp developers and enterprises.
19. How can I contact the Huione Chain team for further questions?
For any questions or concerns related to the ICO, please contact us at support@huione.org .
Last updated