The HOPR protocol has already been a hit with its unique inducible and inducible experimental networks, but now they are taking it to the next level. Recent announcement from the team He reveals in HOPR that HOPR token holders will be able to start creating a unique incentive plan as early as next month. In addition to the standard payout, participants can earn NFTs by participating in a protocol that will boost their rates of return.
The scheme is part of the three-pronged approach to HOPR tokens: the ability to pay for data transmission over the HOPR network, bet to earn more HOPR tokens while the network is secured, and give holders the right to vote in a HOPR DAO in the future.
Staking with HOPR
HOPR holders will be allowed to farm tokens and earn a base APY of up to 18.25% if they lock up their tokens for the full 175 days. Staking through HOPR is expected to be available around July 27The tenth.
HOPR token holders will have access to a six-month smart contract that locks in their tokens to receive rewards. Users can double the rewards during the closing period or withdraw them when paid. The base storage return for users who participate in the full period lock is 18.25% APY. Excitingly, users will also have the ability to boost their APY, without limits, using HOPR NFTs.
While NFTs are often brought to market with limited added value, HOPR takes a unique approach, making use of NFTs to incentivize HOPR users to participate in their tokens.
NFTs and user engagement
The team at HOPR will begin offering a variety of NFTs associated with different HOPR events. Aggregated NFTs will enhance stacked APYs and can also be stacked. The main way for users to earn NFT will be through a HOPR test, for example through monthly test events throughout the six-month holding period. Running and testing HOPR technology will inherently incentivize community-based testing, but the NFT will also be earned through games, competitions, and an upcoming HOPR presence at the EthCC conference in Paris, where HOPR team members present their latest research into privacy protocols and DAOs.
The six-month storage period will allow HOPR to focus on completing the development of their unique cover traffic mechanism, thereby helping to secure and expand the network. Cover traffic will start immediately after the six-month period, allowing the network to appear as having a steady stream of data even during slow periods, thus adding better security to the protocol.
Investing in Metadata Protection
The first version of HOPR is now available to everyone, and is subject to continuous improvement. HOPR offers a unique feature in that it is the first incentivized mixnet – introduces a proof-of-migration mechanism that addresses privacy preservation with mixnet incentivization. This allows HOPR to expand at a rate that competitors cannot.
The HOPR team’s announcement of staking and stimulating NFTs will continue to build engagement and access across the community just a few months after the fair launch of the HOPR token via a DAO community vote.
The protocol’s continued focus on metadata privacy for individuals, businesses, and organizations remains on top – now with more user-friendly features.