What Is HoDooi Token (HOD)?

HoDooi.com is a platform where users can build and trade non-fungible tokens (NFTs) on the multichain marketplace of the platform. The multichain NFT marketplace of HoDooi.com is a marketplace that presents all kinds of digital artworks as well as collectibles, launched on the Binance Smart Chain (BSC).

The whitepaper highlights the problem of e-marketplace that requires consideration to detail. Certain areas such as cryptocurrency, NFTs, and blockchain technology have not been accepted across emerging industries. Suppliers also have to face some challenges such as paying high fees while trading, rewards cannot be redeemed easily, no option for cryptocurrency payment, and platforms not providing a user-friendly experience. On the other hand, buyers have to experience high marginal prices on products, old-style trading methods, lack of transparency and trust, limited options for payment, and ineffective communication. Thus, to solve these problems, HoDooi.com was created, which aims to be a digital content NFT forum where users can trade and create their digital content NFTs effortlessly. A creator can upload digital content like images, choose a blockchain network, and any other settings of the NFT, to form an auction listing.

The token model of the platform seeks to offer the token holders minimal trading fees. The platform involves a transparent fee system, applicable to every transaction that takes place on it. The users get an opportunity to receive the token rewards for carrying out some activities such as assisting in accepting e-marketplace to various new users or referring friends to use the platform. The platform also aims to have a system for certification and verification to protect its traders from any fraudulent activity.

The native token of the HoDooi.com platform is HOD.

HOD token is used as an interoperable utility token on HoDooi.com. The token aims to have a significant role in the main business model of the platform and offer extra benefits and improved user engagement to its users. The token seeks to provide the minimum fees to its users. HOD can be used as the means of exchange between contributors on Hodooi.com in a decentralized way with no interference of any third-party middleman. Traders can employ HOD tokens as a direct payment source for their digitized products or NFTs listed on their marketplace. HOD token also seeks to offer economic incentives to the users to participate in the platform’s ecosystem. The token enables the token holders to build and vote on the on-chain governance manifesto to identify future parameters of the platform.

History of HoDooi Token (HOD)

The idea behind the HoDooi.com platform was conceptualized in 2021, with the tokens and platform launching in the same year. Matt Luczynski, the founder of Travala.com, is the CEO and cofounder of the platform.

The maximum total supply of the HOD tokens is one billion.