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HADA and HADALITE- An experiment in NFT’s, XRPL and DEX.


CuentosDeHada
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22 hours ago, Flintstone said:

If you are interested, I can hook you up with SparklesNFT if you’d like to get some digital art on to the Flare Network when they go live. I’ll be your first customer :) 

Or I don’t mind minting them for you or helping you out if you like. Just let me know 👍

So much stuff happening in this area. It's hard to keep up. 

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Thanks all for the support.

Two trust lines created so far. Which is great.

I noticed whoever took the coins has listed them on the DEX for XRP at a rate of 1:0.99. This is not myself or any account I am associated with. I will NOT be listing HADA or HADALITE for XRP anywhere at present.

I wondered, If someone purchases just one of these coins does that give a total market cap of 20B XRP.

Welcome to the free market.

I would not recommend anyone buying these. Your Risk. Especially, when You can get them for FREE from me.

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@Julian_WilliamsWhat about an ICO? - Initial CAT Offering to raise funds for an NFT market place on MILY.COM and they would be the first NFTs minted on it.

Ironically, that could be deemed a security.

NFTs or COINs are easy to mint. They would cost 5 - 30 XRP depending on what you do exactly. Unlimited issuance costs 5xrp to mint. Limited issuance costs the 5 xrp it is the blackholing of the account is where you loose the 20 XRP for wallet creation.

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7 minutes ago, CuentosDeHada said:

I wondered, If someone purchases just one of these coins does that give a total market cap of 20B XRP.

Indeed it does. Although your token won’t meet most - if not all coin ranking websites metrics for listing.

However, it does highlight the importance of supply/demand and liquidity when discussing marketcap’s Price x Circulating supply, which, as you have highlighted, is not a metric which one can solely rely upon.

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On 5/26/2021 at 7:43 PM, brianwalden said:

Issuing tokens on the XRPL is fairly easy for anyone with a wallet. I used to send my kids dollar tokens backed entirely by my word. Once @Mercury and I used tokens representing hot dogs to use the ledger as a score board for how many hot dogs we ate.

An XRPL that people use for all this type of small stuff is a better ledger.

I found issuing tokens a bit too easy. I could see someone inadvertently black holing a wallet with significant XRP in it.

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5 Trustlines added since first post. 100s of millions distributed so far of both tokens Billions to go. 

Still no use case.

Someone sold most of their Hada for Hadalite.

I'll put this up on Reddit soon but there is a seven day waiting period for posts by new users. 

 

 

 

Edited by CuentosDeHada
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8 hours ago, Neurotoxin said:

Well, this is both very interesting and funny... and also pretty confusing. What the heck is going on here? 😂

You guys are up to something! Lemme get the popcorn. 

In one sense it's nothing. He issued his own currencies on the XRPL that aren't backed by anything to give them any value. I don't recommend anyone paying real crypto for these tokens.

But I think it's a good learning experience for anyone who wants to use them to play around with trustlines and issued currencies on the XRPL. I have a feeling that Flare may breathe new life into the XRPL, so it may be good knowledge to have.

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6 hours ago, brianwalden said:

In one sense it's nothing. He issued his own currencies on the XRPL that aren't backed by anything to give them any value. I don't recommend anyone paying real crypto for these tokens.

But I think it's a good learning experience for anyone who wants to use them to play around with trustlines and issued currencies on the XRPL. I have a feeling that Flare may breathe new life into the XRPL, so it may be good knowledge to have.

Yes I read absolutely everything and was just expressing myself as to how funny I found it to come upon something so random and see members just jump along and say things I found were funny. Like @Julian_Williams talking about how he should make a cat token to be the antithesis of doge and that Hello Kitty type stuff. Idk, it was all very spontaneous and weird. I’m just a spectator, don’t mind me. 

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10 hours ago, brianwalden said:

In one sense it's nothing. He issued his own currencies on the XRPL that aren't backed by anything to give them any value. I don't recommend anyone paying real crypto for these tokens.

But I think it's a good learning experience for anyone who wants to use them to play around with trustlines and issued currencies on the XRPL. I have a feeling that Flare may breathe new life into the XRPL, so it may be good knowledge to have.

How would you propose issuing a token backed by something? Is it simply having reserves in the wallet, in escrow or in the physical world.

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1 hour ago, CuentosDeHada said:

How would you propose issuing a token backed by something? Is it simply having reserves in the wallet, in escrow or in the physical world.

Yes, being able to somehow show that you've got reserves is one way. Making the token redeemable for some good or service is another way. You can also study tokenomics and see how various tokens provide utility and rewards for holding them.

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  • 2 months later...

Hey,

I feel compelled to make an update as very strange things have happened recently.

I have had a terrible month, personally, and was about to shelve this project for the short term when something weird, yet wonderful, happened.

I tried posting the original post on reddit. They said I would be permanently banned if I posted it on r/xrp or r/ripple.  I have no issue with that.

Then on twitter, completely randomly, contacts were made, a community has started to form and value has come to these tokens, all be it small. Below is a screen shot of the issuing account worth at time of publication using the account worth xapp (another cool app).

This is absolutely nothing to do with myself or anyone I know personally.

Both tokens are being traded on the DEX, in some instances for real xrp, and distributed throughout the community which has found a home on discord, if anyone is interested here's the link:

https://discord.com/invite/CH7DYnkG

 

We now have 50 members and the twitter account has 35 followers.

The twitter account handle is @HadaNFT.

It appears the coin with a vague use case is actually achieving it's use case and a community has developed entirely organically.

Hada and Hadalite are being used to teach people trustline creation, the basics of trading on the DEX with an HADA:HADALITE custom pair as well as the use of the new path finding xapp (which is great btw).

 

Some token Updates:

HADALITE

Total Issued - 9.99B

Circulating Supply - 9.39B

Retained by Issuer - 611,686,181

Retained by Founder - 489,800,00

# Trustlines - 134

# Wallets holding - 128

 

HADA

Total Issued - 10.5B

Circulating Supply - 6B

Retained by Issuer - 3.9B

Retained by Founder - 9.9M

# Trustlines - 54

# Wallets holding - 49

 

Token Distribution

This is more difficult then you imagine, especially manually, and the distribution didn't exactly go according to the above description. However, 90% of Hadalite and 60% of HADA has been distributed in about a month, mostly within the last week.

Tracking and tracing the addition and removal of trustlines takes time. It is easy to miss new trustlines and difficult to distinguish between new ones and truslines which have been removed and re-added. Address book management is important to prevent sending multiple amounts to one account.

People try more then once to receive tokens and many have multiple accounts which are then drained, hence there are some zero balance accounts. Which is all fine.

My advice would be automate distribution or make it extremely simple. Even the matter of signing over 100 transactions takes time.

One thing I noticed. When I first put tokens on the DEX and before ever posting anything on here. An account, I assume a BOT, bought some tokens. I didn't think much of it at the time. However, it now appears the account trades between the HADA:HADALITE pairs and was wiping out the XRP orderbook. The BOT account is:

rogue5HnPRSszD9CWGSUz8UGHMVwSSKF6

A highly fascinating account with 9.9M in BTC IOUs (not sure what's going on here).

 

What's Next

I'm not 100% sure. The 1000 xrp I placed in escrow can remain in the account. Incentives are being developed.

There are now 2 web developers who are interested in assisting the project and a few influencers/token distributors/mentors.

Memes are starting to be created and exposure on twitter is increasing.

A website is potentially in the works and a whitepaper may appear in the near future.

I see HadaNFT (or whatever evolves from it) as being a community centred NFT market place, xrpl token museum and information service with an ethos of fun, creativity and community spirit.

A big thank you to megaman.CSC on twitter and discord who has really taken this project by the lead.

 

 

Screenshot_2021-08-08-04-21-44-631_com.xrpllabs.xumm.jpg

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