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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.