Understanding HOM DAO Coin: Empowering Community Engagement
Since its inception, the HOM DAO Foundation has been at the forefront of leveraging blockchain technology to address global challenges. With a diverse community comprising engineers, students, developers, academics, and professionals from various industries, the foundation's mission revolves around providing safe and sustainable housing for everyone, everywhere. Central to this mission are the innovative blockchain applications developed by the foundation, including a groundbreaking system for tracking land titles.
As the HOM COIN is now publicly available, many people are curious, who owns HOM Coins and what do they do?
Tokenomics of HOM DAO Coin
Tokenomics refers to the distribution and ownership structure of a cryptocurrency. In the case of HOM DAO, the foundation has introduced HOM COINs, which serve as governance tokens empowering holders to participate in decision-making within the DAO.
These tokens are finite in number, with only 100 million in circulation.
Each HOM COIN holder has the opportunity to vote on key initiatives and projects proposed by the community. That's the whole reason for owning the coin, because you want to participate in the community. Having a HOM COIN is like having a membership card to a very nerdy country club.
Here's a breakdown of the token allocations for HOM COIN:
| Group | Allocation | % of total | Monetary Contrib.* |
|---|---|---|---|
| DAO Contributors 1 | 12,639,057 | 12.64% | $193,415 |
| DAO Contributors 2 | 22,544,657 | 22.54% | $345,000 |
| DAO Vendors Payment | 27,445,669 | 27.45% | $420,000 |
| DAO CoFounders | 11,052,244 | 11.05% | $25,000 |
| Treasury | 15,000,000 | 15.00% | 0 |
| Marketing - Airdrop | 500,000 | 0.50% | 0 |
| Marketing - Reserve | 818,373 | 0.82% | 0 |
| Liquidity | 10,000,000 | 10.00% | 0 |
| Total | 100,000,000 | 100.00% | $983,415 |
Individuals acquired HOM COINs by making contributions to the DAO, either through USDC contributions or work products. This finite supply mechanism ensures that HOM COINs hold value, thereby incentivizing active participation within the community.
Interoperability and Accessibility
HOM COINs are currently available on three blockchain networks: Ethereum (HOM COIN), Polygon (HOM-MATIC COIN), and Solana (HOM-SOL COIN). Users have the flexibility to switch between these networks using bridge applications available on homdao.finance. This interoperability facilitates seamless trading and allows users to leverage networks with lower transaction fees.
Ownership and Distribution
A significant portion of HOM COINs is owned by existing DAO members who have a long-term interest in the foundation's mission. Approximately 70% of the coins are held by these members, subject to a vesting schedule that prevents immediate selling.
Participating in HOM DAO
Interested individuals can acquire HOM COINs through sales facilitated by the foundation. The foundation has collaborated with MEXC to list HOM COINs on the MEXC exchange, with additional listings planned for decentralized exchanges like RAYDIUM.
How to Buy HOM COINs
To acquire HOM COINs, individuals can purchase them on exchanges or through sales facilitated by the foundation, typically on centralized and decentralized exchnages. It's important to ensure that purchasing HOM COINs is legal in one's country or residence. HOM DAO has partnered with MEXC to list HOM COINs on the MEXC exchange in April 2024. Additionally, the DAO has voted to list the HOM-SOL coin on the RAYDIUM Decentralized Exchange.
Fore more about HOM COIN tokenomics and the HOM DAO project, dive into our GitBook at https://hom-dao.gitbook.io/hom-dao.