28 Oct 2021 · 4 min read

HGOLD Announces the Burning 90% of Tokens With the Arrival of The H2O Upgrade in the EZDex Listing

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

HollyGold, announcing 900 million HGOLD tokens burning, will be part of the H2O upgrade undertaking on November 1, 2021 LA Time.

HollyGold issued 1 billion HGOLD tokens during the phase one.  Now the team is introducing phase two H2O upgrade in achieving the Sub-Centralized objective. The announcement from the HGOLD team is to burn 900 million HGOLD tokens, which is 90% of the total number of tokens by the end of October 2021. Taking part in the Sub-Centralization process, the HGOLD 2.0 (H2O)’s remaining number of HGOLD tokens will be 1 billion minus the 900 million HGOLD tokens that will be burned. In addition, the HollyGold team proceeded with the first set of HGOLD token buyback burning volume of 4.07 million HGOLD on March 12, 2021 during the phase one upgrade.

As a result of the H2O upgrade, the HollyGold community will have the ability to make decisions on the future of HGOLD tokens! The future direction of HGOLD tokens being driven by the HollyGold community is a significant aspect of HollyGold. With the Decentralized Autonomous Organization (DAO) structure in place to release authority to Star Club members, the future operations of HollyGold will be determined by process of members’ proposals and voting. This action would adjust the total supply of HGOLD token volume to 99,592,169.

The Renovative Era of Sub-Centralized 

H2O ventures to upgrade the financial ecosystem from a centralized environment to fuse the best of CeFi with DeFi. The upgrade creates a Sub-Centralized Finance system that weakens the centralized framework as the core structure in order to establish a new classification. The DAO (decentralized autonomous organization) system is the idea for demonstrate on releasing the decision-making power to token holders. This is the ideal blockchain technology brings together efficiency and security in a decentralized environment while keeping in mind the functionality that suits the needs of the traders and investors.

The Tokens Burning Mechanism

The goal of HollyGold has always been focused on the benefit of the traders and investors of HollyGold. Many coin-issuing companies have various methods of lowering the supply of their tokens by choosing to repurchase, burn, or permanently remove their tokens. To make a transition of HollyGold from a centralized to a decentralized platform in an advantageous position, the HollyGold team has decided that the best way to drive up the asset value of the tokens is to decrease the total amount of HGOLD tokens in the markets by way of burning of the tokens. This limited amount of circulating tokens also allows for a more stable environment in preventing algorithm flash crashes. The outcome of the remaining 100 million (governance) tokens in the DeFi market will then be determined through the DAO voting system by the HollyGold community.

HGOLD Proudly Announces its Partnership with EZDex

After listing on these centralized platforms such as Bitrue, Coinsbit, XT.com, Probit, and etc.; HGOLD now proudly announces its first decentralized exchange listing on EZDex! Unlike the traditional way of centralized trade pairing, EZDex is a decentralized exchange platform that utilizes the Automated Market Makers (AMM) feature that enables continuous, automated, and decentralized trading using algorithms to price assets in liquidity pools. The AMM also assists in adjusting the swapping protocol and ensuring the EZDex and HGOLD communities have full control of individual assets. EZDex will now open the following trade pairing HGOLD/ETH.

DeFi Staking Reached 4 Million HGOLD within 5 Days

HollyGold is honored to announce our DeFi staking protocol reaching 4 million HGOLD tokens within five days. The H2O upgrade with the new Defi staking protocol, which is the 180-day contract offered to our Star Club community, provides exclusive benefits to our VIP Star Club members*. Sirius members could access our Gemini Staking protocol to mine HGOLD and EZX tokens simultaneously.

NFT Marketplace and Hollywood Academy Soon to Arrive

HollyGold will release an entertainment IP NFT trading marketplace in November of 2021. People can use tokens such as HGOLD and ETH to launch NFTs, as well as auctions selling and buying in this marketplace. The partnership with Hollywood such as CLAW Entertainment and POW Entertainment, will bring more intellectual properties (IPs) in the future. In creating a new model for the NFT market, HollyGold will use 20% of the profits from the NFT marketplace sales and place them in the HGOLD Liquidity Pool.

Hollywood is the ultimate goal for all entertainment workers. HollyGold 2.0 created Hollywood Academy to open the door for entertainers all over the world to showcase their talents. They will have the opportunity to participate in Hollywood productions as directors, screenplay writers, actors, or IP creators, etc.. HGOLD will release the decision-making authority to all the HGOLD holders in the Star Club community to pick their future stars from the HollyGold 2.0 Hollywood Academy by way of voting.

H2O Upgrade Celebrate Marathon: 1,000 Packs Giveaway Event

To celebrate the H2O upgrade, HollyGold started our giveaways marathon in early October of 2021. More giveaways will be continuously hosted at EnTech Ecosystem Discord channel.