Steemhunt 2.0 and New HUNT Platform is Coming

Not many people know much about our beginning, so here’s the background - we started our Steemhunt journey on October 31st, 2017. Almost two years ago, we announced our Steemhunt plan when it was still in the ideation stage.

Introducing SteemHunt: Steem Fueled ProductHunt - Make money by discovering cool products every day

As you can see, it didn’t get much attention, we were so disheartened that we almost gave up on the project. But we caught the attention of thirteen Steemian’s attention and so decided it would be worth a try.

Now Steemhunt has become one of the top DApps on Steem, and we’re creating our own token economy for product early-adopters, called HUNT. Reviewhunt has arrived on our platform, and has already created over $16,000 worth of revenue from companies during the two month beta testing period.

Since starting Steemhunt we’ve discovered that our Hunters are incredibly talented and dedicated, so we’ve come up with various ways to turn these skills into value for both the users and makers. For example, there are several top hunters on Steemhunt whose hunting posts always gain much attention on our community because of their keen eyes in selecting great products. Many product makers have contacted us to get in touch with them to promote their products - this is why we created Reviewhunt. In Reviewhunt, makers can set any type of quest mission that perfectly fit their core features. This is because most hunters can quickly grasp how the product works regardless of its complexity.

There are so many different kinds of UTILITY to gain from the early-adopters in the product launching market. So, it’s impossible for one single token economy to contain all this potential.

Today, we’re kicking off our new direction - Steemhunt 2.0 and New HUNT Platform - to evolve into an early-adopter DApp alliance.

Meet our new direction - https://token.hunt.town/

1. Steemhunt 2.0 - Fully Decentralised Product Discovery Platform

Steemhunt is a DApp built on the Steem blockchain, and the Steemhunt Token (STH) will be issued based on the SMT (Smart Media Token) system. Steemhunt aims to be a fully self-sustainable community application for product early-adopters, which does not require any type of business model. We believe that linking their value-adding behaviours to the community contribution with a fully-decentralised token reward pool will give powers of sustainability and self-control ability to the community.

More details about Steemhunt 2.0 will be announced once the SMT is fully operative, but here’s a sneak peek of what it will be:

1. Steemhunt Token (STH) will be issued based on the SMT (Smart Media Token) system.
2. HUNT main token holders will be able to choose to swap some or all of their HUNT tokens to the SMT based STH tokens with a ratio of 1:10 (the amount of swapped HUNT tokens will be burned).
3. The initial token supply of STH will be the sum of the total STH tokens swapped from the HUNT holders.
4. After the initial STH tokens are issued, the annual inflation and reward pool will begin. The reward split between hunters and curators will be 50:50.
5. The 50% ecosystem and community building HUNT bounty distribution will be finished at the end of the STH token swap period, and the leftover HUNT tokens will be burned (32.9% of tokens have not been released yet as of October 9, 2019).
6. The new interface will be applied - community-based moderation system and new voting/ranking system.

Once the SMT-based Steemhunt is launched, we will drive Steemhunt to become an ultimate cool new product discovery platform.

2. HUNT Main Token System powered by Luniverse Chain

HUNT Platform aims to create an alliance of DApps and 3rd-party services with its own token utility and user experiences. In order to achieve this goal, HUNT token will transit from the Ethereum Network to the Luniverse Chain during 4Q 2019.

Luniverse is a next-generation BaaS (Blockchain as a Service), run by Lambda 256 which is a subsidiary of Dunamu, the owner of Upbit crypto exchange. By using Luniverse, HUNT Platform can form its own main chain with numerous side chains that have a value pegged to the main token. HUNT token will be a key currency of the HUNT Platform, and each DApp can use its own token if it needs a separate or additional token structure. HUNT main token functions directly in each DApp, or becomes a vehicle token to swap or back the value of DApp tokens.

Since the backbone of HUNT token is transiting from Ethereum to Luniverse, the ERC20 based HUNT tokens will be swapped with the Luniverse based HUNT tokens during 4Q 2019 with the following details:

1. 1 ERC20 based HUNT token will be swapped with 1 Luniverse based HUNT token.
2. From the swap starting date, bounty withdrawal from HUNT internal wallet will be settled by the Luniverse based token.
3. Token swap interface will be provided for the token holders whose tokens reside via the external Ethereum wallet, and a total of 90 days claim period will be given from the starting date. All reserved tokens in the Luniverse chain that have not been claimed to swap after 90 days will be burned.
4. HUNT tokens residing in crypto exchanges and Bitberry wallet will be automatically swapped subject to their cooperation.
5. HUNT tokens residing in the internal HUNT wallet (via the Steemhunt or Reviewhunt wallet page) do not require any action for the swap.

3. HUNT Token Restructuring

Due to the swap process of the existing ERC20 based HUNT to the Steemhunt tokens and Luniverse based HUNT main tokens, some amount of tokens may be burned as below:

1. All reserved HUNT main tokens in the Luniverse chain that are not claimed to swap from the external Ethereum wallets within the 90 days of the ERC->Luniverse swap period will be burned (After the swap period finishes, ERC20 based HUNT token won’t be available to use in HUNT platform).
2. HUNT tokens that will be requested to swap with the SMT based Steemhunt tokens will be burned.
3. Leftover HUNT tokens from the 50% ecosystem bounty section at the end of the SMT based Steemhunt token swap will be burned.

4. New Roadmap - Upcoming DApps and 3rd-party services

The goal of HUNT Platform is to expand the passion of tech product lovers into a practical form of services for product makers so that new product launches can be more impactful on a global level. To achieve this goal, HUNT Platform will launch new DApps and invite 3rd-party services to join the HUNT token economy. If a 3rd-party service/app, which is not directly related to the concept of HUNT Platform, is interested in joining our platform, they are welcome to if they are likely to leverage our token economy and build synergy.

Steemhunt (https://steemhunt.com/) and Reviewhunt (https://review.hunt.town/) are the live DApps on the HUNT Platform currently. We will build more DApps and 3rd-party services in 2020.

1) Ideahunt

Ideahunt is a crowdfunding platform by utilising profit-backed crowdfunding tokens and smart contracts so that backers risk-taking actions (paying money in advance to the makers) will bring more benefits in relation to their future profit-taking.

2) Intime (working title)

Intime is a time sale platform where users can purchase/trade a person’s one hour token. Any influential person or expert can issue a token that guarantees the token holder the right to claim an hour of time with them.

3) 3rd-party services

HUNT Platform will become a DApp alliance that enables the intangible value of early-adopters to be turned into a tokenized asset. HUNT Platform will constantly invite 3rd-party services that can be aligned with the HUNT token economy as well as developing DApp services directly.

5. Updated Docs and Website

We have updated our whitepaper, pitch deck, and token website to apply the new directions.

• Whitepaper - https://token.hunt.town/HUNT-Whitepaper-v2.0-EN.pdf
• Pitch deck - https://token.hunt.town/HUNT-Pitch-v3.0-EN.pdf
• Token website - https://token.hunt.town/

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