The biggest DogeCoin holder owns 28% of all Doge supply. This person alone could crash the prize by approximately 96%, judging by today’s available liquidity. We believe this is a huge problem, and not a good foundation for such a significant meme-token (or any token for that matter).
With HashPanda, we want to challenge the status quo. Not by launching a token with another meme (a dog breed, a cat, a rocket, a moon, Elon, or some combination of these) but by focusing on a fair and sustainable token distribution.
Aside from our utility aspect, this is the most unique value proposition by HashPanda. We want to create a fair and decentralized token distribution, getting our token in as many hands as evenly as possible.
A Push vs. Pull Distribution
We cannot wait for holders to come to us. This would take years and require mechanisms to control the maximum number of tokens for individual buyers, to enforce the “fairness” feature.
Our solution is a push based distribution, where HashPanda sends out tokens (via air-dropping them) to Binance Smart Chain users. We select users randomly who interact with the chain (all BSC transactions are public by nature) and send these lucky users PANDA tokens. Paying the network fees out of our own pockets. HashPanda’s goal and first major milestone is to reach hundreds of thousands if not millions of users.
An Innovative Method
To our knowledge, no other project has done this before at this scale. With Ethereum there were a handful of such approaches, but increasing gas/network fees rendered it impossible at certain scale. With newer ecosystems this might however become the norm for token launches (think BSC, Solana, Fantom, Avalanche).
BSC costs are somewhere in between Ethereum and Solana, with network transaction fees of around $0.3. Can we send out transactions to thousands or millions of users? We believe the benefits outweigh the cost.
For the Benefit of Holders
There is no cost to receive PANDA. Anyone who uses BSC and receives PANDA is basically a lucky “winner” who receives a couple dollars worth of PANDA tokens. He is free to sell these (as many do) or to hold-on to them, as we hope many will.
Ultimately, we desire to create a fair and socially distributed meme token, with a holder base that is as decentralized as possible. This is done through a relatively underused model (due to the high network fees, until now) by rewarding network users “randomly”.
If you’ve received PANDA, welcome to the #PandaGang. HashPanda aims to become the most decentralized meme token on BSC, and potentially in all crypto within a short time frame.