Hunt Town on Base/Farcaster (Successful Launch of $Hunt Tip System)
TL;DR:
Token Bridging to L2: 4.7 million HUNT tokens ($1.4 million worth) have been bridged to the Base L2 chain, significantly expanding the ecosystem.
Hunt Tip and Monthly Grants: Introduced in July 2024, this system allows members to tip builders based on their NFT holdings, fostering community engagement.
Program Impact: Over 400 Mini and 50 Main Building NFTs minted and membership has soared to over 7,300 active Web3 builders, enhancing the ecosystem's vitality.
Expansion to Base/Farcaster and Token Bridge Success
With the expansion of the HUNT token to the Base chain, Hunt Town has experienced rapid growth within the Farcaster community spaces. About 4.63 million HUNT tokens, valued at $1.4 million, have successfully transitioned to the Base L2 chain, creating a vibrant and active ecosystem.
Introduction of Hunt Tip and Monthly Grant System
Since July 2024, the Hunt Tip and Monthly Grant system has been operational, allowing Farcaster members to tip builders for their impressive on-chain contributions. The amount of daily tipping allowances is determined by the ownership of Main Building and Mini Building NFTs, enhancing engagement and reward mechanisms.
Hunt Tip Program Details
Hunt Tip is a pioneering program on the Hunt Town platform, aimed at boosting community engagement and development through the strategic use of HUNT tokens. This program incorporates a unique tipping and rewards system that supports an encouraging environment for web3 builders and enthusiasts.
NFTs and Daily Allowances
Owning Building NFTs entitles members to a daily $hunt tip allowance on Warpcast, which can be utilized to support favored builders and projects. This direct contribution mechanism significantly impacts their growth and success within the community.
Impact of Hunt Tip System
In just one month since the initiation of the Hunt Tip system, over 400 Mini Building NFTs and 50 Main Building NFTs have been minted. Additionally, the Hunt Town guild has grown to over 7,300 highly active Web3 builders. This surge has not only enriched the Hunt Town ecosystem but also spurred further bridging of HUNT tokens to Base L2.
Token Supply and Market Dynamics
As previously communicated, the total supply of HUNT tokens is permanently capped at 198,912,688, with no possibility of increase due to the permanent removal of minting permissions. As more Building NFTs are minted, HUNT tokens are increasingly drawn from the market, consequently reducing the circulating supply.