> For the complete documentation index, see [llms.txt](https://cryptogrow.gitbook.io/lets-grow/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://cryptogrow.gitbook.io/lets-grow/cryptogrow-101/the-defi/usdhrvst-token.md). # $HRVST Token {% hint style="info" %} A lot goes into making our $HRVST token what it is -- we recommend you read all our [Welcome](/lets-grow/welcome-to-cryptogrow.md) and [Intro Pages](/lets-grow/cryptogrow-101/table-of-contents.md) before reading on further. {% endhint %} ## Page Contents 1. [**Supply Dynamics**](#usdhrvst-supply-dynamics) 2. [**Earn $HRVST**](#get-usdhrvst) 3. [**Buy $HRVST**](#buy-usdhrvst) 4. [**Use $HRVST**](#use-usdhrvst) ## Supply Dynamics The supply of $HRVST is dynamic, meaning the total supply of tokens will change over time!
$HRVST Supply **All $HRVST is generated from one of two sources:** ### 1. Verified Sales The first $HRVST tokens will be generated during our Verified Sales rounds. Here, KYC'd (identity-verified) investors will have the opportunity to privately purchase the token before the rest of the ecosystem is live. *We'll provide more details on Verified Sales in the coming weeks.* ### 2. The GrowCurve The $HRVST Bonding Curve ("GrowCurve") allows investors to purchase newly generated $HRVST directly from the source at any time. The GrowCurve is dynamic, meaning the more $HRVST there is, the more expensive it will be to purchase from. ***Find more details on the GrowCurve under "***[***$HRVST Burn***](#usdhrvst-burn)***" below.***
$HRVST Burn **At launch, only two things will destroy ("Burn") $HRVST:** ### **1. E-Commerce Sales** When $HRVST is exchanged for merchandise on the CryptoGrow E-Commerce Store, 5% of the transaction is burned forever. This decreases the total supply of $HRVST tokens in our ecosystem. *Read more about what $HRVST can be exchanged for on our* [*E-Commerce page*](/lets-grow/cryptogrow-101/the-app/e-commerce.md)*.* ### **2. The GrowCurve** $HRVST tokens can also be returned to the $HRVST Bonding Curve ("GrowCurve") in exchange for $DAI at any time, burning them forever. The GrowCurve's $HRVST/$DAI exchange rate is dynamic. The more $HRVST there is, the more $DAI it will fetch. ***Find more details on the GrowCurve under "***[***Buy $HRVST***](#buy-usdhrvst)***" below.***
## Earn $HRVST $HRVST is our native ERC-20 rewards token, providing a stream of value directly to **CryptoGrow** users in exchange for their time, support, and engagement. {% tabs %} {% tab title="Activate" %} The first and easiest way to earn the **CryptoGrow** rewards token, $HRVST, is to simply activate your Grow NFT! ### How It Works When you use the **CryptoGrow** App to link your Grow NFT and Pod, you immediately activate your base passive yield of $HRVST! The more Grow NFTs you hold, the more you can earn through this method. *This stream of tokens, emitted directly by your Grow NFT, is **us compensating you for your participation** -- your investment -- your belief in us.* {% endtab %} {% tab title="Grow" %} The next easiest way to earn $HRVST, is to use your **CryptoGrow** Pod to grow cannabis! ### How It Works This is nothing like the legally questionable "passive yield" you may have heard about in the NFT space before -- in fact, it's something far more revolutionary... When you grow using your **CryptoGrow** Pod, the cutting-edge sensors in your machine are collecting data to automatically optimize your plant's growing conditions. At the same time, that data allows **CryptoGrow** to learn and improve on its automated optimization systems. *This stream of tokens, emitted directly by your Grow NFT, is **us compensating you for your data** -- your efforts -- your time.* {% endtab %} {% tab title="Learn" %} On top of the initial stream of $HRVST rewards tokens that come with using your **CryptoGrow** Pod, all users will have access to **CryptoGrow** University where you can learn how to get the most out of your growing experience from our slate of experts. ### How It Works Throughout your plant's lifecycle, tips, tricks, and videos will pop up on the **CryptoGrow** App to provide you with educational materials and alerts for action. These clips are designed to be short and digestible to be as accessible as possible to all levels. For example, you might be rewarded simply for refilling your water tank, or for watching a video from our Master Grower about how to trim and prune your plant for maximum yield! *This is **us compensating you for your engagement** -- your continued use of our services -- your time.* {% endtab %} {% tab title="Help" %} Want to go beyond earning for your time and data? You're in luck! $HRVST rewards tokens will also be accessible to our "Hows It Growing" Community Support Team. ### How It Works Our community member growers will have the opportunity to join our "Hows it Growing" Support Team, where they'll be ranked based on their experience, contribution quantity, and the supported community's level of satisfaction (i.e., support quality). These ranks will each be represented with badges and adjusted regularly based on each Support Team members' contributions to the community. The more you help others, the higher your rank, and the higher you rank, the more rewards tokens you earn! \ *This is **us compensating you for your support** -- your activity in our community -- your time.* {% endtab %} {% tab title="Farm" %} The final and most exciting way users will be able to earn $HRVST is through our innovative *Rarity Farming* system, where holders of an Avatar NFT will compete to purchase, trade, and win unique traits to maximize their Avatar's rarity! *This is **us compensating you for your participation** -- your competition with our other holders -- your time.* {% hint style="info" %} A lot went in to designing our rarity farming system, and while the details are ready, it's a bit early to make them public. Stay tuned for more info on what is to become a central component of your **CryptoGrow** experience! {% endhint %} {% endtab %} {% endtabs %} ## Buy $HRVST If you want more $HRVST than you're earning, you can buy it three different ways! {% tabs %} {% tab title="Open Market" %} *Why reinvent the wheel? Anyone will be able to purchase $HRVST on the open market via "Decentralized Exchanges" ("DEX"), like UniSwap, or trade freely with others on the Ethereum mainchain.* At launch, **CryptoGrow** will be supplying and incentivizing $HRVST/$DAI DEX liquidity. ### What is a DEX? > "A decentralized exchange (or DEX) is a peer-to-peer marketplace where transactions occur directly between crypto traders. DEXs fulfill one of crypto’s core possibilities: fostering financial transactions that aren’t officiated by banks, brokers, or any other intermediary. Many popular DEXs, like Uniswap and Sushiwap, run on the Ethereum blockchain." > > \~[**Coinbase, 2022**](https://www.coinbase.com/learn/crypto-basics/what-is-a-dex) ### How Do They Work? > Decentralized exchanges... are simply a set of smart contracts. They establish the prices of various cryptocurrencies against each algorithmically and use “liquidity pools” — in which investors lock funds in exchange for interest-like rewards — to facilitate trades. > > While transactions on a centralized exchange are recorded on that exchange’s internal database, DEX transactions are settled directly on the blockchain. > > DEXs are usually built on open-source code, meaning that anyone interested can see exactly how they work. That also means that developers can adapt existing code to create new competing projects — which is how Uniswap’s code has been adapted by an entire host of DEXs with “swap” in their names like Sushiswap and Pancakeswap. > > \~[**Coinbase, 2022**](https://www.coinbase.com/learn/crypto-basics/what-is-a-dex) ### How Does It Apply To $HRVST? Those that supply $HRVST/$DAI liquidity to DEXs will be given our Liquidity Pool token, $HRVST-DAI-LP ("$HDL"), at a supply proportional to their share of the total liquidity. At any time, holders can trade their $HDL back in exchange for their share of $HRVST/$DAI. The DEX collects fees from every trade, so as people buy or sell $HRVST and $DAI, the fee revenue distributed across those who supplied the liquidity -- holders of $HDL -- proportional to their contribution to the total. {% endtab %} {% tab title="The GrowCurve" %} *Want to buy your $HRVST directly from the source? Purchasing $HRVST from the GrowCurve generates new tokens, adding to the total supply!* ### What is the GrowCurve? At any time, investors will be able to buy $HRVST from or sell $HRVST to our $HRVST Bonding Curve, also known as the GrowCurve. The more $HRVST there is in the ecosystem, the higher it will be valued on the GrowCurve. ### **How Does it Work?** When an investor purchases $HRVST from the GrowCurve with $DAI or $ETH, they are effectively providing the **CryptoGrow** Treasury with liquidity. In exchange for this service and faith, they can at any time return their $HRVST for the liquidity token at a dynamic return rate. The GrowCurve's $DAI/$HRVST exchange rate is a pre-set ratio that depends on the total supply of $HRVST. The more $HRVST there is, the more $DAI it will be worth on the GrowCurve. ### So What? If total supply is higher than when a given investor first purchased $HRVST, $HRVST will be worth more on the GrowCurve and the investor can sell it back at a profit. If total supply is lower than when first purchased, then the exchange rate would leave the investor at a loss, so they would be incentivized to use their $HRVST to buy goods or sell it on a DEX instead. Remember, the $HRVST/$DAI exchange rate on the GrowCurve *is not the same* as the $HRVST/$DAI exchange rate on a DEX. The former is set by a ratio based on total $HRVST supply while the latter is set by the open market's changing liquidity supply and demand. While they are not the same, they do impact each other as investors will seek out the best deal they can across merchandise redemption, $TRIM staking, GrowCurve trading, and DEX trading. {% endtab %} {% tab title="Bonding" %} *Do you a DEX liquidity provider, LP token farmer, or just want discount tokens? $HRVST Bonds can be purchased directly from the **CryptoGrow** Treasury in exchange for our Liquidity Pool token.* ### What is a Liquidity Pool Token? When liquidity providers supply a DEX with $HRVST and $DAI, they get our LP token, $HRVST-DAI-LP in return ("$HDL"). The amount of $HDL given depends on the total share of liquidity the provider supplied to the DEX. That same ratio determines what percentage of the DEX's fee earnings are allocated to the provider. ### What is Bonding? When users purchase a $HRVST Bond**\***, they are selling their $HDL, their liquidity pool tokens and their associated potential earnings (DEX yield), to the **CryptoGrow** Treasury**\*\***. In return, **CryptoGrow** provides them with more $HRVST than they would be able to purchase at the market rate. The longer a $HRVST Bond is held**\*\*\***, the more $HRVST it can be exchanged for, meaning holders are incentivized to leave their liquidity with **CryptoGrow** for longer than they may otherwise, providing us with valuable runway to build and grow. **\***Bonds are available on a first-come, first-serve basis. **\*\***The **CryptoGrow** Treasury's $HRVST supply is fed by a 40% cut of all E-Commerce transactions. **\*\*\***Bonds take a minimum of 7 days to reach maturity and be redeemable for $HRVST, or sellable to others on our Bond Market. A bond ROI starts at 0% and increases slowly until it is purchased. Once purchased, the cycle is reset with a new bond. ### An Example Exchanging **$15k worth of $HDL** with a bond that currently has a **15% ROI.** Bonding would sell the $15k HRVST-DAI LP tokens to the CryptoGrow DAO and in exchange, 7 days later, the user is able to redeem $15k \* 1.15 = $17.25k worth of $HRVST **at the time the bond was purchased**. ***The $HRVST bond dApp will be linked here once available.*** {% endtab %} {% endtabs %} ## Use $HRVST {% tabs %} {% tab title="E-Commerce" %} **$HRVST is designed first and foremost as our E-Commerce Store's native (and only) currency!** This means anyone who wants to purchase discounted products like GrowKits, Carbon Filters, and Slip Covers will have to either earn or purchase $HRVST to do so. Luckily it's not difficult to earn, and our Grow-To-Earn tokenomics emit $HRVST at a rate intentionally designed to cover all the costs of growing cannabis with the **CryptoGrow** Pod! Read more about this on our [E-Commerce](/lets-grow/cryptogrow-101/the-app/e-commerce.md) page. {% endtab %} {% tab title="Stake" %} **Users who don't want to exchange their $HRVST for merchandise also have the option to stake it and earn $TRIM!** $HRVST and any officially supported LP tokens can be staked directly with the CryptoGrow Staking Contract. Each option presents its own risks and rewards. Per usual, the higher the potential risk, the higher the potential rewards. The rewards for staking the aforementioned tokens will be issued via our exclusive, non-transferable token $TRIM. $TRIM can only be earned by staking $HRVST/LP tokens and can only be used to purchase Tickets. Tickets can then be redeemed for the chance to win exclusive NFTs and other prizes, or sold on the secondary market to users who are not earning $TRIM or would like to increase their chances of winning big prizes. This gives stakers an opportunity to profit from their $TRIM yield at the opportunity cost of Raffle participation. {% hint style="info" %} There's a lot that goes into making our [$TRIM Token](/lets-grow/cryptogrow-101/the-defi/usdtrim-token.md) sustainable and functional. We plan to publicly release more token details after our all our Burn NFTs are minted. {% endhint %} {% endtab %} {% tab title="Sell" %} ## Can I sell $HRVST? Our token is designed to deliver more value to users that exchange their $HRVST on our E-Commerce Store than those who sell it for another cryptocurrency, but that doesn't mean you can't if you want to! Our tokenomics and DeFi engine work in tandem to power our token buyback and burn mechanics which perpetually deepen and lock liquidity. This stabilizes and raises the price floor over time. This means that $HRVST can be easily sold on DEX's, like Uniswap or Balancer, in exchange for any token with established liquidity. We recommend sticking to pools deployed by the Community Treasury for the best rates and least slippage. At launch we intend to establish sufficient DAI liquidity to stabilize price action and maintain it over time. If you have passed KYC, you will also be able to directly exchange your tokens for what is available on the bonding curve. Read more about our bonding curve above. {% endtab %} {% endtabs %}