Dear Hoo users,
HooPool mining a total of 8 phases, Hoo.com will enable the sixth liquidity mining at the lunar new year 14 February 2021 00:00 (UTC+8) - 15 March 2021 23:59 (UTC+8). For this period, the staking rate will be increased to encourage more users to participate.
The staking rate, is different from the holding rate. The rate of mining is not determined by the number of HOO positions held, but by the number of HOO involved in mining. The rate of mining with 100,000 HOO invested is not the same as mining with 10,000 HOO invested.
Currently Hoo Token is only output through HooPool mining, which distributes 100 million Hoo Token, and the current total output is the amount in circulation, and no more new tokens output other than HooPool will be circulated in the next 6 months.
The total amount of HOO output by the Phase 6 liquidity pool (dual coin pool) is 10 million, released in 30 days, with a daily mining quantity of: 333,333.
In order to better encourage user participation and more reasonably distributed token output, the pool weights and output volumes for the 6th liquidity mining will be updated as follows, for a total of 9 dual coin pool coins. At the same time, the actual amount of output mined by each user depends on the user's HOO position (available balance in wallet account + available balance in coin account + available balance in OTC account) and the actual amount of HOO-USDT participation in mining, with different amounts of positions and different amounts of participation in market making receiving different individual mining rates.
Dual coin pool details:
- Other dual-token mining pools will stop liquidity farming, and users will be free to retrieve liquidity token. After stopping farming, it will become an undesignated pool. Undesignated mining pools, 0.25% will be distributed to liquidity providers, 0.05% will be distributed to platform.
- The above mining pool of the fifth phase of dual-token mining will automatically carry out the sixth phase liquidity mining, and users do not need additional operations.
- When all other things being equal, holding amount of HOO tokens can greatly increase the farming rate.
- The position is required to have an available balance and the frozen amount will not be counted as a position.
- Farming HOO-USDT pool has different position requirements than farming other pools, and non-HOO-USDT pools require more HOO positions to reach 100% farming rate.
- The trading pairs already in the third liquidity mining will continue to be mined, and their mining weight update will take effect at 24:00 on February 14th. The individual position mining rate of all trading pairs is to remain unchanged.
In order to assist the high-quality project, Hoo will open a dual-token pool to apply for mining channels, and the project can only be applied through the HooSwap token listing application channel.
Risk Alert: Any digital assets investment is risky. Please evaluate your risk tolerance before getting involved. Your support on Hoo is highly appreciated.
February 18, 2020