Hosky Tokens ($HOSKY) are cryptocurrency meme-coins that are part of the Cardano ecosystem and compliment the wildly popular, low-quality Hosky NFTs (digital art). The standard marketing line for Hosky digital assets is that they provide no present or future financial value and offer no new technology … just memes. So, why get involved with such an abysmally marketed cryptocurrency project that prides itself on being destined for a rug-pull? Because, behind the hyperbole and constant self-effacing referrals, there is something special going on here that may (or may not) evolve into a project that is much, much more than a simple meme-coin. However, prepare to get sucked in … because the Hoskyverse can be very, very addicting.
Although comparisons have been drawn between Hosky’s similarities to the wildly popular Dogecoin, $DOGE resides on it own blockchain and provides its users a unique ecosystem dedicated solely to serving the needs of the Dogecoin community. That technology itself gives its project utility and value. Can Hosky, without a technological hook, find similar success on the Cardano blockchain serving in a complementary capacity for the more sophisticated Cardano community? Unclear … but, there is definitely some magic happening here, and we can’t wait to find out how the project evolves.
What Is A Hosky Token?
Hosky Tokens are a form of cryptocurrency that reside on the Cardano blockchain. Like most cryptocurrency coins, the tokens are used to store value and can be freely bought, sold, and/or traded in the open market. Hosky Tokens also have utility value in that they are paid as rewards for staking Cardano ADA ($ADA) or Hosky NFTs with a Hosky Stake Pool. Hosky Tokens can be easily sold or converted into $ADA.
Hosky Token Tokenomics
Hosky Tokens had an initial mint of 1 quadrillion (1,000,000,000,000,000) tokens … a staggering amount. Of those, one half (500,000,000,000,000) have been pledged to Cardano founder Charles Hoskinson and are not considered by the devs to be a part of the circulating supply. However, this has been the source of much conjecture as Charles has never received the tokens and apparently does not want them. In addition, the Hosky devs have been less than clear regarding what plans they may have for this enormous number of Hosky Tokens that possess great potential for cratering the market price and, ultimately, the project as a whole. This is one of the main issues with this project that needs to be resolved.
The remaining 500 trillion (500,000,000,000,000) Hosky Tokens are part of the circulating supply and have been allocated for distribution as follows:
- 10% to the founders (a list of founders has not been provided)
- 10% to “Meme Acquisition” (we’re not sure exactly what this means)
- 10% to Stake Pool Operators
- 10% for distribution through the Doggie Bowl (no running distribution tally has been provided)
- 60% for “to be determined”
Are Hosky Tokens Worth Anything?
Yes. In spite of the Hosky ecosystem’s marketing claim that they have no value, Hosky Tokens do, in fact, have value and are regularly bought, sold, and swapped on open-market cryptocurrency exchanges such as MexC and Minswap. In fact, $HOSKY is the #1 Cardano Native Token by number of holders.
As of this writing, the price for one $HOSKY is USD$0.000000012 on MexC and 0.000000025 $ADA on Minswap. Accordingly, 1 billion Hosky Tokens have a readily marketable value of approximately 25 $ADA, placing the Hosky Token market cap at approximately USD$6,000,000 or 12,500,000 $ADA. Clearly, $HOSKY’s value is not zero.
Although total Hosky Token trading volume proves to be difficult to calculate, MexC trades approximately 4 trillion Hosky Tokens per month and Minswap trades approximately 5 trillion Hosky Tokens per month.
Hosky Token Historical Price
Hosky Token’s all-time high was USD$0.000000094 (approximately 800% higher than where it is now) on February 13, 2022, and its all-time low was USD$0.000000008 (approximately 50% lower than where it is now) on May 12, 2022. However, $HOSKY typically trades in the USD$0.00000001 to USD$0.00000003 range.
Hosky Token Price Prediction
Any attempt to predict the future price of $HOSKY is an exercise in futility. It is simply too early in the young cryptocurrency’s life-cycle and there are too many variables and outstanding issues. However, a meaningful analysis of future $HOSKY potential will consider the following project-specific factors:
Hosky Token Utility
$HOSKY currently derives a large share of its value from its primary utility as a reward for staking Cardano ADA and Hosky NFTs with a Hosky Stake Pool. It also receives a smaller share of its utility value from its use as a wrapped token at Cardano liquidity farms such as MinSwap. If additional uses are created for the Hosky Token, its inherent value should increase accordingly.
Conversely, if $HOSKY’s primary utility as a Stake Pool reward ceases, the inherent value of Hoskey Tokens will be greatly diminished. This is a legitimate concern as the project developers have yet to provide a roadmap or indicate what their plans are for when the current Hosky Stake Pool rewards allocation has been completely consumed. What happens next?
Cardano ADA Price Increase Or Decrease
Hosky Token price is closely tied to the price of Cardano ADA. Specifically, $HOSKY typically trades between 0.000000025 $ADA and 0.000000050 $ADA. If the price of $ADA rises or falls, so goes $HOSKY. Therefore, any meaningful $HOSKY price prediction must include a forecast for the future price of Cardano ADA.
500 Trillion $HOSKY Burn
500 trillion Hosky Tokens have been allocated to a wallet pledged to Cardano founder Charles Hoskinson. However, Charles has shown no interest in the pledge, which leaves a staggering one half of all issued Hosky Tokens in limbo and at the whim of the project developers. This factor has great potential for a significant price increase should the devs execute a 500 trillion Hosky Token burn, which has been suggested. However, with no roadmap and no indication of how the project principals intend to move forward with such a large piece of the Hosky pie, this great uncertainty continues to be a drag on $HOSKY price and on the entire project as a whole.
Where Can I Get Hosky Tokens?
Hosky tokens can be obtained by: 1) gambling at the Hosky Doggie Bowl, 2) free token giveaways (rain) on the Hosky Discord server, 3) staking your ADA and/or Hosky NFTs with a Hosky Stake Pool, and 4) purchasing directly or swapping cryptocurrency for Hosky Tokens on a decentralized exchange (DEX) such as MexC or Minswap.
Hosky Doggie Bowl
The Hosky Doggie Bowl was the first place that you could purchase Hosky Tokens. It requires that you send 2 ADA to the $doggiebowl address, which will in turn send you 1.5 ADA and somewhere between 39,062 and 3,906,250 Hosky Tokens. Not a very consistent proposition.
Hosky Discord Server
The Hosky Discord server is probably the best place to obtain your first Hosky Tokens. Devs and Stake Pool Operators there rain free Hosky Tokens down upon the members, at times with frenzied abandon. On busy days, you can receive up to 100 million free Hosky Tokens just for actively participating in the discussions. An excellent place to pick up free Tokens, and to get your feet wet in the Hosky ecosystem.
Hosky Stake Pools
Staking ADA with a Hosky Stake Pool can earn you significant Hosky Token rewards. You receive Hosky Token rewards each epoch 1) based upon the amount of ADA you have staked, and 2) based upon the amount of ADA, Cash Grabs, Gnomeskies, and S#!tties held in your staking wallet. Some of the larger delegators receive tens of billions in Hosky Token rewards every 5 day epoch using this method.
Decentralized Exchanges (DEX)
The quickest and most direct way to obtain Hosky Tokens is by purchasing them on a decentralized exchange (DEX) such as MexC or Minswap. The prices are constantly in motion, reacting to the market and the trades are instantaneous. If you want to buy Hosky Tokens quickly and at a set price, this is the way to get them.
FAQs About Hosky Tokens
What is a Hosky Token?
Hosky Tokens are a form of cryptocurrency that reside on the Cardano blockchain. Like most cryptocurrency coins, Hosky Tokens are used to store value and can be freely bought, sold, and/or traded in the open market.
Are Hosky Tokens worth anything?
Yes. In spite of the Hosky ecosystem’s marketing claim that they have no value, Hosky Tokens do, in fact, have value and are regularly bought, sold, and swapped on open-market cryptocurrency exchanges such as MexC and Minswap. Currently, one Hosky Token ($HOSKY) is worth approximately USD$0.000000012.
Where can I get Hosky Tokens?
Hosky tokens can be obtained by: 1) gambling at the Hosky Doggie Bowl, 2) free token giveaways (rain) on the Hosky Discord server, 3) staking your ADA and/or Hosky NFTs with a Hosky Stake Pool, and 4) purchasing directly or swapping cryptocurrency for Hosky Tokens on a decentralized exchange (DEX) such as MexC or Minswap.
How many Hosky Tokens are there?
There are 1 quadrillion (1,000,000,000,000,000) Hosky Tokens … a staggering amount. Of those, one half (500,000,000,000,000) have been pledged to Cardano founder Charles Hoskinson and are not considered by the devs to be a part of the circulating supply.
Sources
Cardano: Website
Hosky: Website
MexC: Website
Minswap: Website
