🍯 HONEY Token
HONEY is the token that supports the Honeyland economy and can be traded on decentralized exchanges
HONEY ($HXD) is the token that supports the Honeyland economy. There will be a total supply of 1,000,000,000 (1 Billion) $HXD. HONEY can be earned through in-game activities and purchased or traded through Raydium's decentralized exchange (DEX). Players will use it to purchase the most useful items in the game and unique NFTs to strengthen their colony, to perform certain in-game actions such as breeding or fusing Bees, and can be spent during missions, activities, and games. Additionally, HONEY can be staked to unlock in-game opportunities, give players access to special missions, drops, and exclusive in-game activities, and have some influence over the decisions and growth of the project.
The long-term value of any token will be determined by its utility. In Honeyland, this means providing a term we've coined 'happiness sinks', where players can find happiness and utility in spending their HONEY tokens.
This comes in the form of in-game achievement and progressions, unlocking or earning items, playing games, competing with other players, entering tournaments, and so much more. These happiness sinks will also extend beyond Honeyland into the Honeyverse, an arcade of active gameplay games with free-to-play, PvP, and tournament mechanics, and beyond into future mints, merch, and IRL events.
HONEY is a deflationary token with a max supply of 1,000,000,000 $HXD. However, there will be burn mechanics built into Honeyland to ensure the health and value of HONEY. The following actions will cause HONEY tokens to be burned:
- Breeding - players can use their Bees and HONEY to breed more Bees. While there are breeding limits and increased pricing as the Bees breed more, 50% of the HONEY spent by the player to breed will also be burned. These will ensure that as the Bee population grows, the HONEY supply is shrinking.
- Withdrawal Tax - when players want to convert the HONEY they've earned in Honeyland into $HXD, there is a withdrawal tax. 25% of this tax will be burned.
- Special Burn Events - From time to time, Honeyland will incentivize players to burn their HONEY in exchange for access to special prizes and events.
Honeyland has implemented some anti-whale mechanics to promote the health and stability of HONEY while the ecosystem and community grow. The following are some of the anti-whale mechanics:
- Daily $HXD Token Claim for Investors and Team - once the lockup period is over for investors and team, they will begin having access to claim their tokens daily. This will prevent a large supply from going into circulation at one time during the month, and will rather spread it out evenly over the month. This should prevent several large token dumps on the same day which could hurt the value of HONEY.
- (Almost) Free to Play - Players will be required to upgrade to a Beemium account for $30 USD in order to unlock the full features of the game and withdraw HONEY tokens. This nominal fee reduces barriers to entry for new players but also serves as an anti-bot mechanic. Players can play in Free to Play mode if they do not intend to withdraw their HONEY. (See Getting Started). It is important to note that all fees collected from Beemium upgrades will go back into Player Rewards to build a more sustainable reward system.
Players will be limited in the number of blockchain transactions they can initiate to convert HONEY tokens earned in Honeyland to $HXD tokens in their wallet. These limits will be time-based (i.e. must wait xx days before your next blockchain transaction to convert HONEY tokens to $HXD tokens in your wallet).
HONEY tokens earned for the following reasons are subject to limited withdrawals:
- Harvesting Missions
- Land Commissions
- Land Entry Fees
- Attack or Defense Missions
- As a result of any other Honeyland Player Reward mechanics (i.e. referral rewards, tournaments, etc.)
The time required between withdrawals can be as short as 1 day and as long as 5 days. Players can reduce the time required between blockchain transactions by interacting with the Honeyland economy through in-game transactions, staking HONEY, using the marketplace, breeding, etc. All of this activity will be tracked on the player's account with a VIP score that determines the days required between withdrawals.
Tokens that are in a player’s account for the following reasons are unlocked:
- Account has met the minimum days required between blockchain transactions
- Purchased through DEX or other exchanges and deposited into their Honeyland account
- Received from the sale of any marketplace item
Locked HONEY Token can be used for:
- All in-game transactions (breeding, fusing, etc.)
- Harvesting commissions / Hunting entry fees / Attack missions
- Purchasing new items from the Honeyland Store
- Purchasing Honeyland goods and services (mints, swag store, IRL goods/activities)
- Certain categories of Game Mall games
Locked HONEY Tokens cannot be used for:
- In-game Staking
- Certain categories of Game Mall games (i.e. Luck and Chance games, PvP games, etc.)
Once a player has met the withdrawal requirements and has converted their HONEY tokens to $HXD tokens in their wallet, there are no restrictions on how they can be used.
Honeyland is a Play & Own ecosystem. This means players will find more value by keeping the assets they earn through gameplay in the ecosystem than by taking them out. In order to ensure this, there is a withdrawal tax for converting unlocked HONEY tokens earned in Honeyland into $HXD tokens that can be transferred or sold on the blockchain.
This tax will range from 10% - 30% depending on the player's activity in the Honeyland economy. New players will have a 30% tax but can reduce the withdrawal tax as low as 10% by interacting with the Honeyland economy through in-game transactions, staking HONEY, using the marketplace, breeding, etc. All of this activity will be tracked on the player's account with a VIP score that determines the amount of withdrawal tax associated with the player's account.
The withdrawal tax collected will be allocated as follows:
- 50% will be sent to the Honeyland treasury for game development
- 25% will be recycled back into player rewards
- 25% will be burned
$HXD tokens deposited into the game by the player are not subject to any withdrawal tax.