As DeFi is becoming more homogeneous and static, Hoo Smart Chain is set for a break through by announcing their decision to go all in the metaverse. In March 2022, the “Cosmic Origin Project“, an incentive program for global decentralized developers was launched.
At present, Terra is the second largest DeFi network after ETH with 26 billion TVL. The most important reason of the result is the high annual subsidy Terra officially gives its algorithmic stablecoin UST, thus UST and LUNA are linked to form a positive feedback cycle of aggregate funds.
For a new blockchain to achieve high liquidity and break into top TVL positions is to provide high rewards for projects deployed in ecosystem, so as to gather funds, attract popularity to realise explosive growth.
But unlike Anchor which is the dominant project on Terra, Hoo Smart Chain’s “Cosmic Origin Project” is an incentive for all projects. It offers a massive bonus system of up to $2.05 million per month for a single project from the TVL incentive scheme, NFT and GameFi project volume incentive scheme, cross-chain incentive scheme and HOO Token staking bonus.
Apart from large scale projects, Hoo Smart Chain also supports small and medium DeFi projects, with a minimum of 1 million TVL required to receive sustainable rewards.
With developer-friendly incentives, low GAS fees, efficient transaction speeds, and ease of deployment with Ethereum-compatible EVM, Hoo Smart Chain has become a prime destination for emerging projects, as well as attracting quality projects from other blockchains to Hoo Smart Chain.
InfStones, a Web3 infrastructure provider that raised $33m in Series B funding, recently signed up the “Cosmic Origin Project“. InfStones provides public and private API services and node management services on the platform, enabling customers to deploy their nodes in the Hoo Smart Chain or other blockchains within minutes with one click.
In addition, Forward Protocol that has received $1.25 million in funding from several institutions including Bitcoin.com, CVVC, AU21, X21 and GDA Capital, also sign up. And closed a $2.37 million seed and private funding round earlier this year, Tank Wars Zone is a P2E game funded by Fantom Foundation, DFG, JSquare, Newave Capital, HyperChain Capital, Prometeus Labs, ZBS Capital, LD Capital will also be deployed on Hoo Smart Chain in the near future.
Up till now, “Cosmic Origin Project” has attracted WEB3.0 projects: Forward, infrastructure : Infstones, aggregator: Autofarm, Dex: PuddingSwap, SocialFi: 5 degrees, GameFi: Tank Wars Zone over 40 projects signed up.
Hoo Smart Chain is an easily scalable high-performance basic blockchain. Dedicated to providing developers with an efficient and low-cost on-chain environment to run decentralized smart contract applications (DApps) and store digital assets. Since Hoo Smart Chain announced its commitment to creating a metaverse, the realization of metaverse will take place in four stages: visualization, three-dimension interface, social interaction and metaverse.
“Cosmic Origin Project” is the first step of the “Visual Blockchain” in the metaverse’s four-step plan, Hoo Smart Chain has launched a comprehensive and multi-channel incentive form for popular tracks such as the Decentralized Application Foundation Protocol, Multi-chain and cross-chain Hub Protocol, GAMEFI and NFT to support global quality decentralized ecological projects. It is committed to promoting the development of different sections of decentralized application, exploring the infinite possibilities including visual blockchain ecology, metaverse blockchain and so on; We hope to provide better and more sustainable support to ecological developers to build the future of blockchain.