New DeFi app with a gamified smart contract that motivates HODLers
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HUNT, a DApp network for digital nomads, has created a gamified decentralised app to encourage HODLing (holding the cryptocurrency long term rather than selling)
The app rewards HODLers with a bonus for completing lock-up periods every time another user breaks their contract.
HUNT recently launched Neverlose.money, the first-ever gamified protocol that pays a bonus to long-term investors,
known as HODLers, with the penalty from losers who fail to HODL.
People can choose to lock-up their Bitcoin (WBTC), Ether (WETH), or HUNT asset for a set target period ranging from three months to a maximum of 10 years. While continuing the lock-up, users will get a bonus based on their shares whenever other users fail to HODL (withdraw their funds during their lock-up period).
HODLers can withdraw their funds at any time during the lock-up period by incurring a charge of 10% penalty. This penalty will be shared with other users (as a bonus) who are maintaining their active HODL assets.
People using the app are less likely to be swayed by short-term volatility because of the bonus and penalty aspects.
They are more likely to maintain their lock-up to gain the bonus from other users who failed to HODL as well as to avoid paying the penalty.
YoungHwi Cho, Co-founder and Designer of HUNT commented:
“Neverlose.money is designed for crypto investors who want to invest like Warren Buffett. Long-term investment in the crypto market is far more difficult than the stock market as you have to withstand more ups and downs. We have designed the perfect social HODL protocol on Ethereum that lets anyone invest in crypto assets like Warren Buffett, the master of value investing”.
HODLers on Neverlose.money will also earn WRN, a governance token that will be used to manage the Neverlose.money decentralised community. These tokens will be allocated to each effective lock-up asset holder on Neverlose.money. WRN holders will be able to propose and vote on important issues such as, whether or not to add new asset pools, metric changes and modifications to operational policies to the https://neverlose.money/ protocol/platform.
For further information about Neverlose.money, or to arrange interviews please contact YoungHwi Cho via [email protected] or Emilee Jennings via [email protected].
Notes to editor
Neverlose.money was launched on December 15, 2020, after a one month beta testing period. https://neverlose.money/
HUNT Network is a group of DApps - decentralised applications that run on Blockchain or utilise some part of blockchain technology - for digital nomads all around the world. It aims to create a DApp world that empowers people to utilise the gamified blockchain and cryptocurrency mechanism. Currently, there are four DApps on the platform with over 143,500 users from 150+ countries all around the world. https://token.hunt.town/
Website: https://neverlose.money/
Github: https://github.com/Steemhunt
Discord: https://discord.gg/ywBqD74
Telegram: https://t.me/steemhunt
Kakaotalk: https://open.kakao.com/o/g1odiHhb
