The time has come for the Uhive Token to finally morph into a better version of itself.
When we first introduced Uhive to the public, the Uhive Tokens were used to help users navigate Uhive’s social universe, and enjoying its unique features through in-app purchases and trading. As Uhive’s network expands and grows, it becomes increasingly important for us to ensure that Uhive’s decentralized economy is completely self sustainable, and is fully serving our main contributors — the users!
Now, after gaining 300,000+ users — yes we are growing that fast! — the Uhive Token must evolve so that it can reach its full potential. For this reason, we cannot wait to launch our V2 Uhive Token.
Moving forward Uhive Tokens may embrace additional features which for now only includes the trading of Uhive Tokens on cryptocurrency exchanges, but may add selling and trading of spaces, and the buying and selling of goods and services in the future. So, Uhive must issue the V2 Uhive Token to meet the needed minimum requirements to allow users to trade the Token on exchanges on March 23rd.
But don’t you worry! Creating V2 Uhive Tokens will ensure that the current Uhive Tokens (V1) will still function as they do now. Users will still be able to buy spaces and get rewarded for using the application daily. Once V2 tokens are available, we will allow users to exchange their V1 tokens with the V2 tokens at a rate of 1-to-1. This will not be a requirement, nevertheless, at some point we will stop selling V1 tokens so that Uhive’s network economy is synchronized and everyone has the beastly V2 tokens to flourish in Uhive’s social universe.
Need to know
- The process of converting V1 to V2 tokens will only require users to give their consent for the conversion to take place. This will happen by simply tapping a button when prompted for the user’s approval.
- You will still be able to use V1 tokens inside the app for transactions like purchasing awards, spaces and space names etc.
- The exchange rate from V1 to V2 will be one-to-one.
- After Uhive Token HVE is listed on exchanges on March 23rd, we will stop selling the V1 token. All V1 tokens used in the switch will be burned. However, your V1 tokens that are not yet converted to V2 will remain in your wallets and can be used within the Uhive network, just as before.