AMA SERIES: HOGE FINANCE in Cryptowid Telegram Community
On March 15, 2021 at 12 pm UTC (7 pm Indonesian time) AMA CRYPTOWID X HOGE FINANCE was started by presenting Mr. Gorest E – Web&Back-End Developer and Mr. J G – Community Relations and During the AMA, 10 AMA participants who are lucky to ask the best question in the Twitter session and the live asking session in the AMA will get a total prize of 100 $ USD. The following is a summary of the AMA questions and answers of the moderators and the guests.
Mr. Gorest E :
Hello Cryptowid, My name is Gorest E and i’ve been working on HOGE since the 2nd week of the project being released, I am not the original creator, I just joined the project as I thought my software development background would bring some good skills to the HOGE community. I’m currently working on many small development projects throughout the HOGE community such as expansion and additions to our website, the whitepaper, and other smaller software development projects in HOGE.
Mr. J G :
Good afternoon, everyone! Thank you for joining us. My name is JG and I have been with Hoge from mid-February recently after its official launch. I am not one of the original creators; however, shortly after participating in the community Telegram and Discord, wanted to help and support the Hoge initiative. As of current, I’m doing a lot of participation with the community. Although to be fair, most of us working with the Hoge team wear many hats and do what we can to help the overall mission and vision.
SEGMENT 1 PROJECT INTRODUCTION
1. What is Hoge Finance, and how your team can create this Cool and Unique project?
J G : Hoge.finance is at its core a deflationary currency. Like many great ideas, we took a concept familiar in the crypto space with Doge and iterated on that by taking something inflationary and making it deflationary. From there, due to the demand and interest, Hoge.finance has grown in size and scope. It’s really a coin for the community as there are no “dev” tokens, per se as everyone who wanted to invest in the project had to do it with their own money. Many of our top bag holders are not developers who work on HOGE.
2. Q2: What are the features and products does Hoge Finance want to offer? And how does it work?
Gorest E : HOGE.Finance is deflationary currency with a 2% distribution, which comes out to a little over 1% burned and a little under 1% distributed, with half of the minted coins burned on release, the burn wallet allows autostaking of HOGE just by holding it in your wallet. The original developers of the token created the project to have the community take over and improve upon aspects of around HOGE, such as marketing, getting onto various exchanges, and non-stop meme generation. Overall, we are an auto-staking and deflationary token. We allow our community to make many decisions with our token, the community wanted us to get on many exchanges so we are doing that for them.
J G : Autostaking is automatic if you hold the tokens in an ERC-20 wallet FYI!
3. As we know, every serious project always have their own roadmap. Could you please explain the Hoge Finance roadmap and also what phase is currently ongoing?
JG : We have a roadmap listed at Hoge.finance our official website. Currently, the phases are broken out into quarters of this year 2021. Currently, we are still in Q1 as our initial phase and have completed much of the deliverables. Moving forward, we have mapped out the next two quarters or phases. The most exciting upcoming deliverables will be centered around the Hoge Foundation and NFTs.
We’re also very proud that we’ve been listed on some exchanges as well as websites such as CoinMarketCap (CM) and Coin Gecko.
Also don’t forget to check out Hoge Gaming from our website!
4. Please tell us about $HOGE token, what are the token use-case, distribution, where we can buy it? And also what benefits can holders get?
Gorest E : Our initial mint started with 1,000,000,000,000 tokens with 500,000,000,000 tokens burned to start out with the 1% burn and 1% distribution to holders. Our tokens main aspect is the auto-staking and deflationary aspect, our distribution is calculated off of the burn address which is currently at 58%, so currently we have a 1.16% burn rate from the original burn amount of 1% when the burn address held 50% of the tokens, and a 0.84% auto-staking rate just by holding HOGE in your wallet outside of exchanges. The website hoge.report keeps a real-time view of the tokens burned, we will be adding this module to our main website in the future. We already have a drone company accepting HOGE as payment. But our token has more much more than monetary value, we are more of an ecosystem for a community to do what the community wants with the token going forward.
5. What are the future plans for Hoge Finance?
J G : Right now, Hoge has had amazing growth due to the response from the community. What started out as a unique spin for a crypto token has now turned into an amazing brand that continues to evolve. Besides those things listed on the roadmap, more ideas and opportunities continue to arise from the community’s involvement. As long as the community continues to be active and growing, there are very little limitations to what is in store for Hoge.finance in the future.
Please see our roadmap at Hoge.finance for all of the wonderful things we’re working on!
SEGMENT 2 QUESTION FROM TWITTER
1. From: @cengizhantekin
You call HOGE as DeFi DOGE. But I couldn’t find a connection. It is not Doge’s project, it is not pegged to Doge price, … Is it just the name similarity, is there a technical similarity, is it liked by Elon Musk 🙂 …? Can you explain why you call that way?
J G : We are not related to DOGE at all; the relation to DOGE is the “meme coin” aspect of HOGE, we are in fact the opposite of DOGE per se as we are deflationary, not inflationary like DOGE coin.
2. From: @CbRsrs100
High ETH commissions and the slowness of this chain are known to be a huge problem that will not be fixed anytime soon due to the ETH 2.0 delays. So why did you decide to develop #HogeFinance at ETH? Do you have plans to develop a cross-chain to function in BSC?
Gorest E : I am not the original solidity developer and had no correlation working on the contract. I believe the developers chose the Ethereum network due to its widespread and proven use, it is not a “new” network and it is proven 😁. We have no plans going to BSC in the short term roadmap, but plans may change down the line.
3. Q3. From: @MMoonhihihi14
What is the ultimate vision that your project is trying to achieve within the cryptocurrencies market? Obviously the whole space will experience huge growth in the upcoming years, but what role would you like your project to play in this?
J G : This is my own opinion but Hoge has evolved into something more than just the crypto tech side of things. Hoge is more about the community and its culture now. In the grander scheme of things, I believe Hoge would love to be an encourager of crypto being more about those who are invested not only in the token itself but in the greater movement of its culture.
4. From: @nobita404
The liquidity of a project is what investors are interested in. How will you solve the liquidity problem of Hoge Finance ? Do you have plans to list on major exchanges like Binance or Houbi?
Gorest E : We are currently on 3 exchanges, bkex, bilaxy, and whitebit. Due to arbitrage traders and bots, the liquidity gets spread between the exchanges, currently whitebit is the largest address under the burn address. We also currently have multiple accounts for locked liquidities on unicrypt.
5. From: @TinapayTopshot
I got into Hoge because you help animals. The culture of giving is what will propel this coin up. With this, what are your concrete plans on shelters w/o capacity to accept crypto as donations? I suggest creating a masteliist of shelters w/c hoge holders can donate some of their earnings to
J G : We love to hear this! Hoge Foundation is part of our Q2 roadmap and animal shelters are a component of what Hoge Foundation endeavors to support. As of current, we have multiple initiatives ongoing that are being refined and readied for deployment involving animals and supporting shelters and organizations devoted to caring for animals. We anticipate releasing and sharing more details once finalized over the next couple of months.
SEGMENT 3 FREE QUESTIONS
1. Security is top for all stakeholders, so 51% attacks happen frequently and even to the most known blockchains, can you tell us how does your Project prevents such attacks?
Gorest E : We are based on a contract within the Ethereum network so any 51% attacks would be on the Ethereum network, our contract code was audited by audit.institute and we are in process of getting another audit.
2. How do you deal with pump and dump investors who just buy and sell regardless of the technology behind it? In other words: how do you plan to gain the trust of all kinds of investors?
J G : There’s three reasons why we’re not worried about PND: (1) we’re spread across multiple exchanges now, (2) people do add to the liquidty, and (3) we’ve created a culture of anti-whales. Anytime there’s a big dump of HOGE, our HOGE ARMY is ready to throw those harpoons and take out the whales. It’s really amazing to see how our community responds in these situations.
3. Why you Collecting DONATE from your supporter/users, Are HOGE is Community driven Project? What that DONATION money is used for ? Thanks.
J G : Yes, HOGE is absolutely a community-driven platform. HOGE would be nothing without its community—and we love this aspect of the project! The donated money will be used for a variety of reasons from business expenditures to Hoge Foundation animal shelter initiatives. We very much appreciate the care from our community and we hustle very hard because of that!
4. How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates??
J G : The best source would be to visit our website at Hoge.finance! From there, you can connect with us via our Telegram and Discord. We would invite anyone to stop by and check out the thriving community and to learn more about the project!
5. Who is your investor? How do you generate revenue to sustain the project? What are your goals to the end of 2021 and beyond?
Gorest E : 100% of the tokens were added to liquidity, developers had to have bought the tokens with their own wallets in order to buy tokens in the project, there is no “team wallet” per say. We generate revenue to keep the project going from donations from the community to cover listing fees, hosting, marketing fees etc. All of Hoge advertising is paid by the community. Our short-term goals for the project are listing on our roadmap on hoge.finance
DON’T FORGET TO FOLLOW THE OFFICIAL HOGE FINANCE’S