Hoard Exchange Review: Brings a lot of features to NFT
The NFT exchange paved the way for the wider adoption of non-fungible tokens (NFT). Its mission is to build an ecosystem driven by blockchain in which users can contribute to development and governance, paving the way for wider industry participation. It is also one of the first NFT projects to explore the DAO governance model to achieve complete decentralization.
Hoarding Exchange Vision
One of the main selling points of Hoard Exchange is true ownership. Users can freely trade, buy, sell, borrow and rent irreplaceable tokens. In addition, these costs can cover in-game items, digital art, and even domain names, providing sufficient flexibility. Hoard was originally established in 2018, and today’s vision remains the same: to provide users and developers with the right infrastructure to demonstrate the potential of blockchain technology.
Behind the scenes, Hoard was built on the blockchain and implemented support for Plasma. The latter option allows the team to take advantage of the growing user base, as Plasma aims to strengthen the Ethereum blockchain. Plasma’s technical aspects ensure that there is no unnecessary data in Ethereum’s blockchain, because only completed transactions will be broadcast to the Ethereum chain. It interacts with the wider ecosystem in an inexpensive way.
Choosing this two-pronged approach makes Hoard Exchange one of the more successful platforms in the NFT industry today. In addition, as a platform designed specifically for the game industry, the launch of its SDK can bring massive game assets to this ecosystem in the next few years. Currently, the team is not fully focused on the traditional game industry. Its platform is open to any game developer, and blockchain-based game solutions continue to grow and develop.
Benefits of hoarding exchanges
Due to its NFT-oriented technology, Hoard Exchange provides some interesting concepts for game enthusiasts and developers. For example, users can obtain actual ownership of their virtual items. In most games, items are associated with an account, but users cannot take these items out of the game. Solutions like Hoard change this statement because the project exists on the blockchain and the owner can fully control it.
Second, Hoard’s native NFT market is an interesting addition. The code is completely open source, and anyone is welcome to submit changes, ideas or suggestions. Building a global ecosystem requires a decentralized and open source approach. In addition, the market was launched in late May 2021 to provide loan and equity functions.
NFT loan explanation It is interesting to see NFT being used as collateral to obtain a cryptocurrency loan. Current loan assets include HRD, DAI, USDT, USDC and BUSD. For collateral, users can provide multiple types of NFTs, and more types will be added over time. In addition, anyone with assets from CryptoKitties, Wrapped CryptoPunks, Axie Infinity, SupperRare and other platforms can use them through Hoard’s marketplace.
As NFT owners, users can apply for loans by listing their irreplaceable tokens as collateral through Hoard’s market agreement. Users can set the minimum value they wish to obtain as a loan. If lenders review assets and provide loans, they can charge borrowers interest. Once the offer is signed and accepted, the borrower must repay the loan before the due date. If this is not done, the NFT collateral will be transferred to the lender.
The team also launched a flash loan service, allowing borrowers to obtain instant and unsecured loans. These transactions are accepted, used, and repaid in one transaction. If it cannot be repaid, the transaction will be resumed, creating a risk-free loan solution for the lender. Flash loans like this can be sued for arbitrage, collateral swaps, and self-liquidation purposes.
The launch of flash loans allows lenders to earn interest through risk-free products and set up loans with just a few clicks. For borrowers, they can get funds more easily and clearly explain how to proceed with this option,
Hoard Staking explained that the staking function is an incentive for holders of Hoard’s native HRD tokens. Staking allows HRD holders to reduce platform fees in the market. In addition, stakers will receive part of the platform fees as staking rewards. As HRD holders, if they increase liquidity for ETH/HRD transactions on Uniswap and pledge their liquidity supply tokens on the Hoard market, they now have the opportunity to double their income.
HRD tokens are Hoard’s native assets, and HRDs are used as ERC20 tokens to pay for items purchased in the ecosystem. This includes games designed on the platform. Developers can use HRD to pay for service fees. Tokenomics is as follows:
- Token name: Hoard
- Symbol: Human Resources
- Type: ERC20 (utility token)
- Supply: 1,000,000,000
- Emission: fixed
- HRD token market: HRD/ETH on Uniswap, HRD/KRW and HRD/USDT on probit, HRD/USDT on dcoin
- Utility tokens: fees, governance tokens
- Network: Ethereum blockchain
Software Development Kit (SDK)
To cater to aspiring senior game developers, Hoard released its SDK. This user-friendly tool is easy to use and helps to integrate any game with this blockchain-based solution. Developers do not need to “train” themselves in blockchain technology, because everything is handled by the software development kit.
Hoard positions itself as an outstanding and evolving NFT-oriented service provider. The market is a good supplement, and the increasing focus on decentralized financial products and services can prove to be worthwhile.
In addition, bringing more usability to NFTs can bring broader attention to the blockchain industry. Since this feature is now available to the general public, now is a good time to check out the features provided by Hoard.
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