HYTOPIA officially launches the new Token HYBUX to replace TOPIA, improving liquidity and user experience.
HY Foundation – a subsidiary of the HYTOPIA metaverse platform – announces an update to the Token economic model with the Token HYBUX having a total supply of 10 billion, listed on Base Chain, with the airdrop reception period extended until September 1st, Beijing time, and innovative NFT features in the ecosystem.
MAIN CONTENT
HYBUX replaces TOPIA with a 2:1 airdrop rate, increasing supply and liquidity.
HYBUX Token listed on Base Chain helps improve trading capabilities.
NFT restructuring includes anti-inflation mechanisms and support for creators.
What is HYBUX and why replace TOPIA?
HYBUX is a new Token released to replace TOPIA on the HYTOPIA metaverse platform, with a total supply of 10 billion Tokens. The issuance of HYBUX aims to optimize liquidity and expand exchange capabilities by listing on Base Chain.
The replacement of TOPIA Tokens with HYBUX at a 2:1 airdrop rate for TOPIA holders demonstrates the goal of maintaining current value while enhancing economic functionality within the ecosystem. This is a strategic move aimed at improving user experience and long-term development.
How is the HYBUX airdrop program implemented?
The HYBUX airdrop program offers two HYBUX Tokens for each existing TOPIA Token. The registration period for the airdrop has been extended until September 1st, Beijing time (equivalent to 2 AM on September 2nd, Vietnam time), allowing more users the opportunity to participate.
The extension of the time shows the commitment of HY Foundation to support the user community in taking advantage of this Token exchange period, while effectively and controllably increasing the circulating Token supply in the market.
How does HYTOPIA optimize the NFT system in this update?
HYTOPIA is undertaking a comprehensive restructuring of NFTs in the ecosystem, adding anti-inflation mechanisms and a support system for content creators. This helps protect the value of NFTs against inflationary pressures while encouraging creativity and distributing value more fairly.
New mechanisms to reinforce a sustainable ecosystem, create incentives for Holders and innovation, enhancing engagement and intrinsic value of NFTs within the metaverse platform.
How did HYTOPIA raise funds in 2023?
In 2023, HYTOPIA completed a funding round worth 3 million USD, led by Delphi Ventures. This fundraising lays a solid financial foundation for the next development steps of the platform and product improvements.
The funding amount helps HYTOPIA scale the platform, enhance user experience, and improve technical features to meet the increasingly stringent demands of the cryptocurrency and metaverse markets.
"The launch of HYBUX and the restructuring of the NFT ecosystem is an important step for HYTOPIA to not only enhance liquidity but also encourage creativity in the metaverse."
– HY Foundation representative, Press release August 2023
Frequently Asked Questions
What is the total supply of HYBUX?
The total supply of HYBUX is 10 billion Tokens, designed to replace TOPIA to enhance liquidity.
What is the HYBUX airdrop rate for TOPIA holders?
The airdrop rate is 2 HYBUX for 1 TOPIA, helping to increase the circulating Token supply.
On which exchange is HYBUX listed?
HYBUX Token will be listed on Base Chain for convenience in trading and liquidity.
How long will the airdrop program last?
The airdrop reception period has been extended until the end of September 1st, Beijing time (2 AM on September 2nd, Vietnam time).
How much did HYTOPIA raise in 2023?
HYTOPIA successfully raised 3 million USD, led by Delphi Ventures, to develop the platform.
Source: https://tintucbitcoin.com/metaverse-hytopia-ra-mat-token-hybux/
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