What is HashPanda (PANDA) | What is HashPanda token | What is PANDA token
In this article, we’ll discuss information about the HashPanda project and PANDA token
HashPanda was launched on the 10th of May 2021 by a team of four developers, who wanted to create a fairly distributed meme-token. This value proposition arose from the challenge that most (meme) tokens have large individual holders resulting in unfair supply distributions and frequent whale-dumps.
The goal was to create a meme token that is not simply “another meme” but one that provides value through having utility and a wide distribution at the same time. HashPanda is socially distributed through community rewards, airdrops, and content/creator tipping on its dApps. It is a community-owned project and has a dedicated token pool for these types of rewards.
HashPanda establishes utility for the PANDA token by creating dApps that appeal to a wide mainstream user-base: users that are not familiar with cryptocurrencies and the Web 3.0 ecosystem such as MetaMask. The dApps which are currently in development by HashPanda are a meme-based content platform, a NFT launch-pad and a social giveaway application.
The meme-based content platform will allow creators to submit memes and users to tip & vote for memes using PANDA tokens. It is similar to 9gag with an additional crypto-reward layer that incentivizes participation and content sharing while gradually introducing Web 3.0 features. This meme platform currently offers only cryptocurrency oriented memes, but it will quickly grow into a full fledged decentralized version of 9gag, featuring a web & mobile application.
Furthermore, HashPanda is developing educational campaigns to “onboard” new users to cryptocurrencies, to explain the benefits of crypto, and to actively show (through interactive applications) how cryptocurrencies can benefit them. Educational campaigns are promoted via videos, infographics and through our community (rewarded via the token reward pool allocated for such activities). HashPanda is collaborating with projects in the Web 3.0 space to introduce users to this technology.
As a token, HashPanda features liquidity-locking and enables auto-yield farming for holders. HashPanda has allocated 40% of its supply for public distribution which is distributed over the first four to eight weeks after launch. This distribution takes shape and form in various ways such as dApp interaction rewards, airdrops/giveaways, rewards for transactions on BSC, rewards for transactions with PANDA and rewards for helping the project. It is HashPanda’s approach to creating a decentralized token-holder base and achieving its mission to becoming the “most decentralized meme token”.
This token distribution mechanism used by HashPanda, relies on a controlled push-based distribution model. Actors within the Binance Smart Chain are randomly selected and rewarded with tokens, which ensures fairness and sustainability. Most importantly, it allows the utility value of PANDA tokens to remain relatively stable which is a prerequisite for parts of its dApp functionality.
PANDA Features
Auto liquidity locking, yield-farming and dApp utility
Token
Token features that benefit users and token holders.
- Features a Panda
- Utility for dApps
- Auto-yield farming
Distribution
Decentralized distribution using community mechanisms.
- Programmatic distribution
- Community rewards
- Tipping users/creators
Benefits
Countless benefits for HashPanda token holders.
- Fairly distributed
- Rising price floor
- Anti-whale safety
Becoming the most Decentralized Meme Token
The biggest DogeCoin holder owns 28% of all Doge supply. This person alone could crash the prize by approximately 96%, judging by today’s available liquidity. We believe this is a huge problem, and not a good foundation for such a significant meme-token (or any token for that matter).
With HashPanda, we want to challenge the status quo. Not by launching a token with another meme (a dog breed, a cat, a rocket, a moon, Elon, or some combination of these) but by focusing on a fair and sustainable token distribution.
Aside from our utility aspect, this is the most unique value proposition by HashPanda. We want to create a fair and decentralized token distribution, getting our token in as many hands as evenly as possible.
A Push vs. Pull Distribution
We cannot wait for holders to come to us. This would take years and require mechanisms to control the maximum number of tokens for individual buyers, to enforce the “fairness” feature.
Our solution is a push based distribution, where HashPanda sends out tokens (via air-dropping them) to Binance Smart Chain users. We select users randomly who interact with the chain (all BSC transactions are public by nature) and send these lucky users PANDA tokens. Paying the network fees out of our own pockets. HashPanda’s goal and first major milestone is to reach hundreds of thousands if not millions of users.
An Innovative Method
To our knowledge, no other project has done this before at this scale. With Ethereum there were a handful of such approaches, but increasing gas/network fees rendered it impossible at certain scale. With newer ecosystems this might however become the norm for token launches (think BSC, Solana, Fantom, Avalanche).
BSC costs are somewhere in between Ethereum and Solana, with network transaction fees of around $0.3. Can we send out transactions to thousands or millions of users? We believe the benefits outweigh the cost.
For the Benefit of Holders
There is no cost to receive PANDA. Anyone who uses BSC and receives PANDA is basically a lucky “winner” who receives a couple dollars worth of PANDA tokens. He is free to sell these (as many do) or to hold-on to them, as we hope many will.
Ultimately, we desire to create a fair and socially distributed meme token, with a holder base that is as decentralized as possible. This is done through a relatively underused model (due to the high network fees, until now) by rewarding network users “randomly”.
If you’ve received PANDA, welcome to the #PandaGang. HashPanda aims to become the most decentralized meme token on BSC, and potentially in all crypto within a short time frame.
How and Where to Buy PANDA token ?
PANDA token is now live on the Binance mainnet. The token address for PANDA is 0x8578eb576e126f67913a8bc0622e0a22eba0989a. Be cautious not to purchase any other token with a smart contract different from this one (as this can be easily faked). We strongly advise to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.
Just be sure you have enough BNB in your wallet to cover the transaction fees.
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step
You need a wallet address to Connect to Pancakeswap Decentralized Exchange, we use Metamask wallet
If you don’t have a Metamask wallet, read this article and follow the steps
☞What is Metamask wallet | How to Create a wallet and Use
Transfer $BNB to your new Metamask wallet from your existing wallet
Next step
Connect Metamask Wallet to Pancakeswap Decentralized Exchange and Buy, Swap PANDA token
Contract: 0x8578eb576e126f67913a8bc0622e0a22eba0989a
Read more: What is Pancakeswap | Beginner’s Guide on How to Use Pancakeswap
Find more information PANDA
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