Oakland, Calif., December 12, 2021 (GLOBE NEWSWIRE) – (via Blockchain Wire) Hierocoin aims to create a platform through which artists and the hip-hop community can leverage blockchain technology to secure their hard-earned returns.
Why Heirocoin is betting on DAO
Hierocoin represents a digital token that aims to transform the music industry. It is an innovative platform built by Brooks Boyd. The project began in 2014 thanks to Jonathan Owens in beta. It was launched in December 2021 after years of research and testing.
Hierocoin’s DAO will allow users to design policies that favor the entire platform. The DAO system implements the defined rules in which no third party will be involved.
The structure could also deal with issues related to power since there will be a collective participation of the community.
What Heirocoin represents
Hierocoin takes its name from the legendary music group Hieroglyphics. The platform guarantees, however, that it does not associate its milestones or failures with Hieroglyphics and Hieroglyphics LLC.
The project’s native asset is known as BAR and runs on the Binance Smart Chain. The main use case of BAR is to create a DAO system that supports the scarcity of the token in the market.
Farming is the second use case that allows investors to wager coins and receive rewards in return. Additionally, individuals can use BAR at Hiero Farms to generate more BAR tokens. Users’ wagering amount and pool wagering rates will impact their rewards.
According to the platform, the goal of the Hierocoin Bar token is to help embrace art and promote upcoming art projects.
Users can also spend their BAR tokens on Hierovr.com, the metaverse world of the project. Therefore, BAR acts as a regular currency that allows users to shop and meet multiple experiences in the metaverse.
It also supports a gaming network in which players participate in completing hidden token quests and is able to make the connection between virtual items and real-world purchases.
BAR has a total supply of 93 million and a circulating supply of 3,207,200 tokens. The initial liquidity amount represents 50 million BAR as well as a further liquidity contribution of 33,810,000.
The payout board is also dedicating 9 million tokens to the music group Hieroglyphics. Finally, airdrops and Hierocoin use 300,000 BAR and 7,500 BAR tokens respectively.
The recent success of the Hierocoin presale and audit
The project successfully held its presale which started from November 25 to December 8, 2021. BAR is currently available for purchase on PancakeSwap. KYC and audit procedures provide startups with security for their investors.
Hierocoin therefore has two audit reports from popular security companies known as SolidityFinance and OpenZeppelin.
An additional KYC review was performed by SolidProof, a German company offering blockchain security solutions. Completing both procedures gives users a feeling of confidence and security in their investments.