Tokenomics

HIVE:

Name: HIVE Token

Ticker: HIVE

Chain: Berachain

Max supply: 100,000 HIVE

Contract: Coming soon

HIVE is Hiveswap’s native token. It can be earned as yield rewards on incentivized staking positions

xHIVE:

Name: HIVE Escrowed Token

Ticker: xHIVE

Chain: Bera Chain

Contract: Coming soon

xHIVE is a non-transferable escrowed governance token, corresponding to staked HIVE. It can be earned from yield-generating staking positions (spNFTs), or through direct HIVE conversion.

The central use case for xHIVE is the ability to allocate it to Plugins. The operation consists of staking xHIVE into the token contract and assigning the deposited amount to a plugin in exchange for various benefits such as earning platform revenue.

How to use xHIVE:

xHIVE is illiquid and non-transferable, but can be used through plugins' allocations, and in the future on approved (whitelisted) contracts providing additional usages.

Allocations:

Users can freely allocate their available xHIVE to any plugin to take advantage of its benefits. While xHIVE is allocated and consequently deposited on the token contract, it cannot be used for other use cases.

Transfer:

xHIVE is by default non-transferable, except from/to whitelisted addresses. This is made so that essential interactions (like allocations and redeem with the token contract) and additional usages (for instance with partners specific implementations...) can still be leveraged.

Redeeming HIVE and xHIVE:

HIVE and xHIVE are mutually convertible into each other, but the process is different depending on the direction. HIVE and xHIVE are mutually convertible into each other, but the process is different depending on the direction.

HIVE to xHIVE :

HIVE can be freely converted into xHIVE any time. The process is instant, and the ratio is 1:1.

xHIVE to HIVE :

The redeem process to convert xHIVE to HIVE implies vesting, the duration of which is selected by the user. The conversion ratio will increase proportionally with the vesting duration:

• The minimum vesting duration of 15 days will provide a 1:0.5 ratio

• The maximum vesting duration of 6 months will provide a 1:1 ratio

*If the selected vesting duration is lower than the maximum (ratio < 1:1), the unclaimed excess HIVEis burned.

Dividends allocation

While being redeemed, the xHIVE is automatically allocated to the dividends plugin, but only for 50% of its value

This allocation is automatically canceled once the vesting duration has ended.

Cancel redeem:

Any xHIVE redeeming process can be freely interrupted at any time by the user.

*Any canceled redeem before its end will void the whole process. The user will retrieve its entire amount of redeeming xHIVE, and no HIVE.