Can you quickly explain the idea behind HashPanda?
HashPanda aims to be the most decentralized meme-token, surpassing DogeCoin in the number of holders while having a fairer distribution. The reason for this is that holders of most tokens (such as DogeCoin) are very unevenly distributed: the largest DogeCoin holder owns 28% of all supply which he could use to crash the price by an estimated 96%.
The idea behind HashPanda is simple: to distribute 80% of all circulating supply programmatically. This is done by subscribing to all transactions on BSC and picking a couple of thousand winners daily, who are rewarded with PANDA tokens.
Why is the token distributed to 1–2 million holders?
HashPanda aims to create a fair distribution that allows everyone to own a small share of the project. The benefit of this is decentralization, which contributes to longevity, fairness and price-stability.
According to Metcalfe’s law, the value of a network is proportional to the number of users squared. Our main hypothesis is that the PANDA token-price will confirm this law, especially once our distribution is fully completed (check our website or Twitter for distribution progress).
What is the effect of the recently announced burn?
For every 100k additional PANDA holders, HashPanda is burning 1% of all supply until 20% is burned or the distribution wallets are depleted. This will result in faster distribution, lower market cap, higher upside potential, and increased scarcity of PANDA tokens. Read more: https://hashpanda.medium.com/the-hashpanda-burn-strategy-d0f60b88aa42
Why is there information that HashPanda is a dusting attack?
BSC projects are quickly labeled a scam, especially in their early days (after all, this likely turns out to be the correct label for 95% of all BSC projects! — so we can’t really blame people for applying this rule of thumb).
With HashPanda specifically, an individual with 500k followers announced that HashPanda is a “dusting attack scam”. He likely didn’t do his research, or misinterpreted airdrops as a dusting attack — which sound somewhat similar on paper.
There are parallels between dusting attacks and airdrops — both are sending out tokens to public blockchain addresses. The difference is: the former (a dusting attack) labels high net-worth wallets with small unique amounts to trace and eventually extort them, while the latter (our airdrop) distributes equal amounts to randomly picked wallets to achieve fairness in distribution.
Is HashPanda a dusting attack?
It is not. Dusting attacks send small unique amounts to high net-worth wallets to eventually extort the owners. HashPanda sends (relatively) large equal amounts to randomly chosen wallets, as part of the decentralized distribution strategy as described on https://hashpanda.com
Can my wallet be hacked by receiving PANDA?
HashPanda sends tokens to public addresses. This is regular behavior for public blockchains, and nothing you should worry about. No wallet can be hacked by receiving tokens.
Unfortunately, we’ve noticed scammers taking advantage of newcomers: “hackers” sending out private messages to Telegram or Twitter users, cloaked as HashPanda support. Their aim is to get your private key, or to get you to connect your wallet to one of their phishing sites. PLEASE do not give out your private key/seed phrase, do not connect your wallet on untrusted sites and do not respond to PMs (our mods will never DM you first!).
I haven’t received an airdrop; how can I receive one?
There are two ways to be rewarded with PANDA tokens. With our ongoing distribution strategy (which at the point of writing is at 32% completion) or via one of our periodic promo campaigns. The ongoing distribution picks a batch of random addresses programmatically from all addresses that transact on BSC and rewards them with PANDA tokens. The alternative to that are our campaigns such as the airdrop campaign recently announced on Twitter. It has already concluded, but we will definitely have more campaigns in the future. Follow us on Twitter and join our Telegram to stay up-to-date.
Why were 50% of tokens burned at launch?
Almost every BSC project burns tokens at launch nowadays. However, only a few (even few project developers) understand the intention behind it. The reason for an initial burn is to create a “black hole wallet” that receives 3% reflections from each transaction.
This 3% is levied on every transaction that happens through the HashPanda smart contract and redistributes this amount to all wallets owning PANDA tokens relative to their amount (reflection amount = transaction amount * 3% * wallet amount/1000T). With each transaction the burn address grows and burns additional tokens, which results in an ever-rising price floor.
What are the 3% auto-yield and 5% liquidity fees?
Every transaction is taxed at 8%. 3% is redistributed to holders via a mechanism called reflection, and 5% is added and locked (sent to the burn address) to liquidity which allows the price to remain more stable in the long term.
Who is the team/who launched the project?
2 early crypto guys, a handful of devs, and volunteers in marketing/community management/ambassador roles. For now, the team prefers to stay low-key until it becomes a necessity.
Why isn’t there an audit?
Please read this and this. Audits are vanity proof. HashPanda’s code is public, and very similar to SafeMoon, only adjusted for PancakeSwapV2. We do understand however that some investors may want the assurance of a 3rd party, and we will have multiple audits (including Certik) done once the distribution is completed.
What should I do with the airdrop?
Definitely check this post: https://www.reddit.com/r/HashPanda/comments/o23riy/what_to_do_with_your_newly_airdropped_panda/
In short: You can sell your tokens, and get a couple dollars back. You don’t end up (much) better or worse off than before, you are basically declining our invitation to participate in HashPanda. This is fine, especially if you urgently need money! You may however decide to hold them; to be part of something that might turn out to become the greatest economic experiment on a blockchain to date! The “expected value” (EV) of participating in this experiment is infinite (especially with tokens which you’ve received for free), while the dollar amount you get in exchange today is negligible.
Why is there less than 5% in the PancakeSwapV2 smart contract?
The contract wallet is not supposed to have 5%. 5% was the initial liquidity, which is dynamic! The more people buy, the less the contract owns and vice versa.
Why are the LPs locked on Unicrypt only 32% and decreasing?
The locked LPs on Unicrypt represent the initially added liquidity. Any additional liquidity is locked forever in the burn address (since the burn address also owns the HashPanda contract), you can verify it here: https://bscscan.com/token/0xbb908854b9be56a6797060a7e1a9e0ffea4ecd60#balances
This means, 100% of the liquidity is locked. 32% (and decreasing) is locked on Unicrypt in case PancakeSwapV2 decides to perform another upgrade to PancakeSwapV3 in the future.
Is liquidity locked/is the contract renounced?
Yes, the initial LPs received by the developer were locked on Unicrypt: https://app.unicrypt.network/amm/pancake-v2/pair/0xBb908854b9bE56a6797060a7e1A9E0fFEa4ecd60
Any additional LPs (generated through 5% taxation locked to liquidity) are sent to the burn address https://bscscan.com/token/0xbb908854b9be56a6797060a7e1a9e0ffea4ecd60#balances
Why was I contacted by HashPanda support on Telegram, after posting a message?
Scammers are trying to take advantage of people new to crypto. Every large Telegram channel has scammers looking out for fresh users to scam. Once users post a message, scammers contact them privately to provide fake help, asking them to give out their seed phrase, or connect their wallet to a phishing-site. Please do not respond to PMs like these. HashPanda mods will NEVER PM you first. There is no “HashPanda support”.
Why is this project unique?
HashPanda primarily focuses on economics & tokenomics with approaches that were never seen before (or at least never executed to completion). The non-unique economic features are 3% auto-yield redistribution to holders, 5% liquidity lock and the 50% initial burn creating a “black-hole”.
HashPanda’s largest innovation is the way tokens are distributed. HashPanda did not have a pre-sale as most BSC projects do. Pre-sales are inherently unfair and incentivize speculative behavior and short-term flipping. HashPanda distributes tokens randomly with its own software to millions of users. This makes sure the token holder distribution is relatively even and decentralized.
The second innovation is HashPanda’s gradual burn. For every additional 100k PANDA holders, HashPanda burns 1% of tokens until all distribution wallets are depleted or 20% is burned. This has unprecedented implications on price, market cap, token supply and potential growth.
We can only speculate how the combination of distributing tokens to millions of users and gradual burn will play out. We are very confident to say, this is the first experiment on such a scale. We strongly believe in our philosophy of becoming “the most decentralized meme-token” and want to see this through to completion (which we believe will exceed everyone’s expectations manyfold).
What are your official social media links?
How to buy HashPanda?
Install a wallet app such as TrustWallet or MetaMask, purchase BNB (on TrustWallet or on Binance) and convert it to PANDA tokens using PancakeSwapV2 by clicking here.