$HOSP | HOSPIUM
Mint or buy - but how?
You can either mint $HOSP tokens yourself or buy them. Follow the steps.
✔ Connect your wallet for full access.
Option 1: On the minting page of the $HOSP token, Hospium.vercel.app, you can mint fresh and previously unused $HOSP tokens directly from the treasury, also known as the smart contract.
✔ Setting up a wallet with the DeFi Metachain
ave you not set up a wallet with the DeFi Metachain yet?
- No problem! Our friends at Dmc-universe.space have prepared a simple and secure solution.
- Visit the website and click on „Add Network.“
- Once you have a fully set up wallet, you will have full access to the platform that introduces new $HOSP tokens into the world!
- In this section, you can mint new $HOSP tokens. You will need dUSD for this.
✔ Mint your own $HOSP tokens
No dUSD? You can easily buy dUSD or $HOSP:
If you don’t have any dUSD, don’t worry. You can easily purchase dUSD on Vanillaswap or on the native Dex of Defichain (only for dUSD).
Compare prices for the best offer
If you want to buy $HOSP tokens, always check the price on both the Dex (DeFiChain Light Wallet) and the minting page.
Why?
The smart contract allows a maximum of 8 million $HOSP tokens to be minted. In January 2024, only 0.5 million of them were minted. So, many $HOSP tokens are still waiting to be minted by you.
But keep in mind: The smart contract steadily increases the minting price of dUSD with each minted token, from 1 dUSD per $HOSP up to 50 dUSD per $HOSP for the 8 millionth token. On the Dex, the price is determined by supply and demand, so it may be more expensive or cheaper than on the minting website.
Why this specific minting process?
Explaining the Complex Minting Process
The minting process is not a straightforward one but rather quite complex. The dUSD provided to the smart contract is divided into three parts: one-third goes into liquidity on Vanillaswap to facilitate trading, and the other two-thirds are burned.
The Purpose of the Burning Mechanism
Why is there a burn? This article was written on January 16, 2024, at a time when the dUSD price was $0.47 – nearly half its actual value. The burning mechanism significantly supports the Operation Repeg for dUSD, as burned tokens do not create selling pressure. As a community, we can collectively achieve the repeg to bring dUSD to its true value of $1. It’s important to understand that burning occurs only when minting $HOSP. However, buying $HOSP through a Dex still supports the price of $HOSP and ultimately leads to more minted $HOSP, resulting in more burned dUSD.
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