Hello, folks! And today I’m introducing you HashMix!
The beginning sounds like everything mixed in one thing, when you read it at first:) But don’t get me wrong this guys at HashMix probably know better!
So stay tuned and enjoy my representation about this futuristic project!
What is HashMix?
HashMix is a fully decentralized hash power tokenization and circulation platform. Empower hash power with NFT and DeFi tools!
What Does It Actually Means?
HashMix developers are building a Protocol that will be able to convert Mining Hash Power to ERC-721 or ERC 1155 standart NFT’s (tokenization) which anyone can keep, share, or trade right inside it.
HashMix’s tokenization protocol can convert mining power for any PoW blockchains, be it Bitcoin or Ethereum hashrate, or storage mining power in the Filecoin network, to NFTs tied to real-world hardware, with the benefit of traceability, tradability, and transparency. What is more, each NFT hash power represents the right to claim future profits generated from physical hash power!
Of course each hash power object represented by hashpower NFT has different attributes such as cryptocurrency type, hash power, and hash power effective period, but they can all be freely distributed like regular NFTs, and the hash power and related rights are guaranteed. Hashmix protocol. The process of determining the price of NFT hash power can be carried out in an auction.
What is being said about HashMix in official Medium of HashMix is:
HashMix, founded in September 2020 in Singapore, aims to further democratize, and activate the mining economy by introducing the world’s first decentralized universal marketplace for various mining capacities using the non-fungible token (NFT) technology.
This paragraph now seems far much more easier to understand, isn’t it? :)
But it is just beginning of the story.
As HashMix supports:
- Trading - Hash power can be traded by trading corresponding NFTs. Hash power of Bitcoin, Ethereum, and Filecoin all can be traded in a fully decentralized way, while the safety of hash power and funds are guaranteed
- Lending - Based on NFT, hash power can be used as collaterals in the lending market, reducing friction in lending processes and stress of the borrower’s cash flow, realizing optimal allocation of funds and resources
- Swapping - Use hash power NFT to realize the swap of cloud hash power between different chains to increase flexibility
Company seems to start with small but at the same time steady steps, the first product that is being launched is a lending platform for FIL!
Why FIL Lending?
Filecoin’s hash power is unique in the crypto space. Unlike Bitcoin or Ethereum, it heavily relies on general computation, storage, and bandwidth. Its mining power is highly valued, easy to prove, and transferable. And most importantly, both miners and FIL holders lack a place to talk to each other.
So in this model Filecoin miners need more FIL to increase their mining power.
In HashMix Lending, we take Filecoin miner’s accounts as collateral, do a value of assessment to that according to their initial pledged FIL and possible future income. Then miners will receive a loan no more than the value of their miner account. That ensures a low risk of loans. The interest rate depends on the utilization rate of the total lending pool. Usually, the lenders can receive a 30–45% APY according to current network stats.
Sounds interesting, especially because FIL holders really need a low risk and stable channel to earn interest. Current DeFi protocols usually don’t have much liquidity for FIL, and the interest rate is much lower than the fair level.
For that purpose HashMix’s FIL lending proposed their solution.
HashMix ICP Finance
Another step in HashMix ecosystem is Boosting Internet Computer Blockchain Staking, Governance & DeFi Infrastructures.
Why is that done?
HashMix ICP Finance aims to Boost Internet Computer Blockchain Staking, Governance & DeFi Infrastructures, offering on-demand NNS Staking pools deployed on IC canisters with high APY and great liquidity (stToken). The user-friendly product makes it possible for every ICP holder to get the reward, withdraw, vote, and even trade directly with their stTokens.
The decentralized governance protocol facilitates every HashMix ICP stake holders joining NNS. Users with stTokens will work as a DAO to determine HashMix Neurons’ governance activities. HashMix ICP DAO also provides DeFi incentive toolkits and other voting power supports for other DApps/infrastructure providers in the ecosystem.
Currently, only the ICP Staking pool is available on HashMix ICP Finance.
What is HashMix ICP Staking?
ICP Staking pool is an on-demand pool where users can stake their ICP without amount limitation and earn relatively high profits. The underlying pool of HashMix ICP Staking is the 8-year Staking node of the Dfinity Network Nervous System, which ensures the security and high profit of the HashMix ICP staking pool.
IC staking pools on HashMix will have different usage limits to provide different liquidity solutions, allowing users to balance yield and liquidity by themselves. Take the 80% usage pool as an example: 80% of ICP in the pool ICP will be staking to the NNS 8 years pool, and 80% of the ICP de-neuron network pledge for 8 years, remaining 20% for on-demand liquidity.
Highlights of HashMix ICP Staking:
HashMix ICP staking pool vs. Other ICP pools
- On-demand: Deposit and withdraw at any time (available Liquidity), flexible use of funds. No amount limitation ICP Staking pool deployed on IC canister.
- Higher Interest: APY is higher than Dfinity’s official 6-months staking APY
- Liquidity for staked ICP with stToken, make it possible for staking+liquidity mining+voting at the same time.
- Boosting Staking & governance model while compatible with IC-native NNS. Works as a DAO to determine staking and governance parameters while providing financial incentives or voting power support to the whole IC ecosystem.
- Referral reward: The inviter will receive 1% of the invitee’s interest. (The 1% reward is from HashMix, and the invitee’s profit will remain unchanged.)
- Reinvest: Interest will be harvested every working day and automatically staked to the pool to capture more profit.
HashMix Ambassador Program
By going further, great Project is always about great community.
“HashMix Ambassador Program” is already announced. And the goal is to build community that supports and gain attention about project, explaining and inviting new enthusiastic individuals who would actively contribute to the further growth of the project, spread awareness, and educate the community about HashMix.
If you feel you are the one HashMix is looking forward to communicate, become a part of the HashMix by submitting your applications:
Apply To become A HashMix Ambassador
Thank You!
Resources:
* Website: https://app.hashmix.org/
* Twitter: https://twitter.com/HashMixOfficial
* Medium: https://hashmix.medium.com/
* Telegram: https://t.me/HashMixChannel
* Github: https://github.com/HashMixProject
