Hyper Token: Peerion's token explained

Updated: May 5, 2019



Ad astra per aspera. Through hard work, to the stars


It was the great Roman statesman and philosopher Seneca the Younger who first uttered such immortal words.


Cue to present time, when the Hyperion team are working double time on HyperionX, an organization developing a set of automated tools built on a distributed network that enables an autonomous, trust-less ecosystem leveraging blockchain technology to create a 'smart market' environment.


The name Hyperion itself has powerful connotations. In Greek mythology, Hyperion was one of the twelve Titan children. He represents light, wisdom, and watchfulness. And at least some of those adjectives can be applied to the Hyperion team.


The Hyperion ecosystem includes a number of layers, including Peerion, a blockchain-powered, decentralized platform that underpins the entire system.


HyperionX's proprietary currency is the Hyper Token (HYPE), which has been developed for specific use within the Peerion ecosystem.


HYPE: Concept and functionality


Hyper Token is HyperionX's native token.


The currency can be described as a ”VIP access pass for peers to the Peerion platform”. It can be utilized to unlock a variety of tools, decentralized applications (dApps), features, games, competitions, and a lot more. Think of Hyper Token as Peerion’s arcade token.


As a peer explores the Peerion ecosystem, they will be presented with the opportunity to earn HYPE in many ways. There will not be a token sale however, so staying active on the platform (filling bounties, and collecting airdrops, etc.) is the only way to be rewarded with tokens. Those who consistently participate in activities within the ecosystem will reap the most benefits!


HYPE is one of the four key factors that stimulate the growth of a peerionauts Tree, along with the Tree Token, Sun Token, and Reputation system.



Hyper Token use cases


Use cases for HYPE will vary across the platform, as each peer can utilize tokens to suit their own unique needs.


Case examples include, but are not limited to:


  • Rewards: Developers can distribute tokens as rewards in the games and dapps they create.

  • Tipping: Peers can tip each other for creative art, intriguing articles, or engaging conversations.

  • Prizes: Peers can earn tokens by participating in competitions.

  • Airdrops: Nimbus will perform airdrops of HYPE to the community.

  • Tool acquisition: The token will be utilized to acquire new tools. (e.g.: A developer can request that a specific amount of HYPE be required to utilize a tool they have created.)

  • Portal access: HYPE can act as a key to a portal. For example, developers/community members can propose that a set number of token is required to access daps, games, enter competitions, view live streams, and enter classes.

  • Seminar rewards: Guides leading a seminar can reward peers for participation, proposing new concepts or presenting to the class.


Conclusion


Hyper Token brings versatility and flexibility to the entire ecosystem. As HyperionX's native token, it enables users to unlock tools, dApps, new features, and many other aspects of the platform.


The ability to use HYPE acts as an incentive to interact with the environment, encouraging constant and ongoing activity to maximize token acquisition.


The token shows the potential to become a valuable commodity in the near future.

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Copyright © 2020 by HyperionX

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