When you’re active on Crypto-twitter, you can easily get the impression of being in a totally distinct world. While some people put a lot of effort into staying objective and educating, shills and trolls seem to prevail. Looking for a civilized discussion? Most likely better to look somewhere else.
This sums up pretty well the perception the team of HONK had of the current state of cryptocurrencies. According to their whitepaper, they’ve seen bitcoin turn into a speculative asset that has lost all of its spirits of bringing power to the people. Even worse, it has become yet another wall street asset.
While some embrace this new status quo, the HONK creators decided to revolt and ridicule it. To describe the current situation, they choose the Clown world meme.
Since most cryptocurrencies are not living up to their purpose, the team behind HONK created a new cryptocurrency that would mock all constructs of our traditional economic world and allow people to do whatever they want with their money.
HONK is built on the Simple-Ledger-Protocol making it easy to use, fast and low-cost. It was designed to be abundant with a total supply minted of 100 billion HONK. This means that everyone in the world could hold HONK.
Currently, there are more than 6000 HONK addresses and the numbers are growing.
One way to receive HONK is to use the HONK faucet. The HONK faucet can be used by anyone with a valid SLP address to receive some free HONK. They’ll simply have to copy-paste their SLP address into the faucet and request HONK. Payout is almost immediately. At the moment the maximum payout you can request is 7000 HONK and every wallet can request once every 4 hours.
If you don’t have an SLP- address yet, you can either use the Bitcoin.com Wallet or once HONK is listed, request to be paid HONK directly into your exchange account.
Another tool that makes it easier to manage your HONK is the HONK bot. With the bot you can check your balance and receive or withdraw HONK via an SLP transaction. As the Honk team believes in the power of SLP, they’re dedicated to creating tools that make SLP tokens more accessible. Consequently, they’ve open-sourced their bot to give anyone access to it.
To take just a quick look at the HONKonomcis, of 100 billion HONK that have been created 55% are going to the community. Another 40% will be going to the Core team to drive development and manage HONK while 5% are held back for future development.
Before the Listing on Bitcoin.com Exchange, HONK was only available via the faucet or was bought and sold on Memo.cash (a Social Network built on BCH).
With the Listing on Bitcoin.com Exchange, traders will be able to buy HONK with BCH and trade immediately.
“Listing Honk is to help make it available to a wider audience, so it’s easier to acquire. The listing is another way of growing the Honk environment “
— Keith Patrick, Project Manager HONK
What started out as a Meme token, has by now developed into a token with increasing utility and accounts for a big share of SLP-transactions.
Most recently, the Honk team has announced a token sale to fund the development of an SLP betting platform. ‘Honk-a-bet’ will be based on an established sports betting platform’s API allowing traders to bet on nearly any sports even in real-time. Without any KYC requirements, traders can place bets fast and anonymously using their BCH, Honk or other SLP tokens(Source).
HONK will list on Bitcoin.com Exchange on March 3rd at 13:00 UTC with BCH-pair. 🤡
To learn more about HONK, head over to their website: https://honkhonk.io/