Greyhound operates as a community-driven project based on a deflationary token mechanism. The project is developed and run on the high-speed and low-cost XRP Ledger (XRPL). (A deflationary token refers to a token whose supply decreases over time to increase its market value.) The main focus of the Greyhound project is to leverage the cutting-edge properties of XRPL for users to enjoy new levels of speed and accessibility. According to the whitepaper, Greyhound wants to create an interactive environment for its users, a place where users can earn rewards by solving riddles and participating in the network’s scavenger hunts.

The Greyhound built the platform on XRPL because of features, such as XRPL’s settlement speed of 3–5 seconds, high scalability, low transaction cost, decentralization, and an environment-friendly transaction process.

As stated in the whitepaper, the Greyhound community holds numerous events for its users to earn rewards, such as:

As per the whitepaper, the GREYHOUND token can be used for staking.

The Greyhound platform launched its website in phase 1 of 2021 and released the GREYHOUND token. The original airdrop was held from August 24, 2021, to September 2, 2021. Additionally, the updated version of the platform whitepaper was released on January 3, 2022.

GREYHOUND has a total supply of 886 billion tokens.