What is Hugo Finance (HUGO) | What is Hugo Finance token | What is HUGO token

What is Hugo Finance (HUGO) | What is Hugo Finance token | What is HUGO token

Hugo Finance (HUGO) is a deflationary auto-staking token that serves as a governance for an upcoming DAO platform. This means that we are a community driven project. There will be three main features for hugo: - The DAO voting platform (Hugo’s Round Table) - The NFT platform (Hugo’s Hall of Fame) - The Crypto index (Hugo’s Spaceship) Beside these features there will be a lot more upcoming features and in the meantime holders can already have the advantage of being an auto-staker. Everytime a transaction is made, a 2% fee is charged. 1% will be burned and the other 1% is distributed to all holders in proportional percentages.

In this article, we'll discuss information about the Hugo Finance project and HUGO token

What is Hugo?

Hugo is a deflationary auto-staking token that serves as a governance for an upcoming DAO platform. This means that we are a community driven project. There will be three main features for hugo: - The DAO voting platform (Hugo’s Round Table) - The NFT platform (Hugo’s Hall of Fame) - The Crypto index (Hugo’s Spaceship) Beside these features there will be a lot more upcoming features and in the meantime holders can already have the advantage of being an auto-staker. Everytime a transaction is made, a 2% fee is charged. 1% will be burned and the other 1% is distributed to all holders in proportional percentages.

How many Hugo are there in circulation? The circulating supply is currently 700 million Hugo. The total supply is 2 billion Hugo. 1 billion is burned, 700 million is circulating, 98 million is reserved for charities and 197 million is reserved for marketing, development, community incentives and providing liquidity for new exchanges.

Who and what is Hugo?

Hugo is a Defi Token on the Binance Smart Chain which will be used

on a Decentralized Platform where holder’s votes matter to shape the future of the platform. 

THE ROUND TABLE

Hugo holders will have the right to access The Round Table, a platform on which holders can vote and make suggestions.

HALL OF FAME

Hugo's hall of fame will be a multi dimensional platform where NFT's get submitted, chosen, minted, auctioned and sold.

HUGO'S SPACE STATION

Hugo's space station will be the index fund chosen by the community, this means that all the tokens from the index are voted on to be so by the Hugo holders.

Hugo community

Hugo is a community driven project and will become a governance token of our future DAO platform. The community is growing everyday and Hugo is happy to see that so many people love his project! After the presale and the Pancakeswap listing, these are the things you can expect for Hugo.

  • Creation of a DAO platform
  • Community voting's on NFT’s
  • Community voting's on charities
  • A lot of community incentives
  • Hugo gaming tournaments
  • Discord channel for Hugo
  • A lot more exciting activities!

Hugo is a unique combination of different projects and concepts, all in one. Our only task now is to build up this funny, strong and emerging community. We want to thank everyone who has participated in the presale already for their support. As a recompense for our early investors, we decided to raise the price with 10% when soft cap is reached and to raise the price with 20% when we will list and provide liquidity on Pancakeswap.

Development

The development is forging ahead. Our developers have finished the technical analysis for the platform’s mechanism and logic. We have started uploading our files on Github so that the community can follow along.

DAO

The DAO platforms back-end is almost finished. Our main developer has already uploaded the files to the github. We still need some feedback regarding the voting mechanism. For example how much Hugo someone has to hold to submit and to vote on the suggestions. This goes the same for the polls. Our main idea was that only top 500 holders can vote on suggestions. But this can lead to centralization. That’s why we need the community’s insight.

NFT

When the DAO is finished, our developers will start working on the NFT platform. The NFT platform has two parts. One is the voting side which is a part of the DAO and the second is the exchange side. We have decided with the developer to start on the exchange part of the platform first so it can be easily connected to the DAO platform. When it’s finished, the developers will start working on the voting part of the NFT platform.

We also need more insight from the community on the voting part of the NFT. It will probably work like this. Anyone who holds Hugo can submit NFT’s. These submission will also be governed by big holders. The winning NFT’s will go to the polls where everyone can vote. The top 5 NFT’s will be minted. The first one will be minted 1 time and will be sent to the auction. The second one 3 times, third one 5 times, the fourth one 10 times and the fifth one 15 times. They will all be sent to the auction house. A percentage gathered from the auction will go to the artist and a percentage will be distributed to everyone who participated in the voting. The exact numbers are yet to be determined. We are open for feedback on this subject.

Front end

The front-end development will start when the DAO and the NFT platform back end is done. The development will take approximitly 2 to 3 weeks but we are aiming to finish it faster. The UI/UX Designer has already started working on the sketches. We will show the community some sneak peaks when it’s done.

Tokenomics.

Total supply: 2 Billion

Circulating supply: 700M

Redistribution: 1%

Burned: 1%

Hugo is a super deflationary decentralized cryptocurrency.

Super deflationary meaning that the supply is in constant decay.

Every time a transaction happens, 2% of that transaction is taken out.

1% is burned and 1% is distributed to all Hugo Holders.

This increases the scarcity of Hugo with every transaction.

‍ Hugo will be used as a governance token for a DAO

(Decentralized Autonomous Organization) ran by the community.

How and Where to Buy Hugo Finance (HUGO)?

HUGO token is now live on the Binance mainnet. The token address for HUGO is 0xce195c777e1ce96c30ebec54c91d20417a068706. 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)...

SIGN UP ON BINANCE

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

Next step

Connect Metamask Wallet to Pancakeswap Decentralized Exchange and Buy HUGO token

Contract: 0xce195c777e1ce96c30ebec54c91d20417a068706

Read more: What is Pancakeswap | Beginner's Guide on How to Use Pancakeswap

There are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once HUGO gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

Top exchanges for token-coin trading. Follow instructions and make unlimited money

https://www.binance.com  ☞ https://www.bittrex.com  ☞ https://www.poloniex.com  ☞ https://www.bitfinex.com  ☞ https://www.huobi.com

Find more information HUGO

Pancakeswap pair:  https://exchange.pancakeswap.finance/#/swap?inputCurrency=0xce195c777e1ce96c30ebec54c91d20417a068706 Twitter:  https://twitter.com/Hugo_Finance Telegram:  https://t.me/hugofinance CoinGecko:  https://www.coingecko.com/en/coins/hugo-finance Discord:  https://discord.gg/AbpZtY6J White paper:  https://bit.ly/39JvSDK Audit:  https://bit.ly/39NluLr Chart:  https://poocoin.app/tokens/0xCE195c777e1ce96C30ebeC54C91d20417a068706 Locked LP:  https://unicrypt.network/amm/pancake/pair/0x5967E18872F3392BF9d318d0cb04F37693e9Bf9F BSC scan:  https://bscscan.com/token/0xce195c777e1ce96c30ebec54c91d20417a068706

🔺DISCLAIMER: The Information in the post isn't financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.

🔥 If you're a beginner. I believe the article below will be useful to you

⭐ ⭐ ⭐ What You Should Know Before Investing in Cryptocurrency - For Beginner ⭐ ⭐ ⭐

I hope this post will help you. Don't forget to leave a like, comment and sharing it with others. Thank you!

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