🪙$HRVST Token

Want to learn more about $HRVST, the CryptoGrow rewards token? You're in the right place!

A lot goes into making our $HRVST token what it is -- we recommend you read all our Welcome and Intro Pages before reading on further.

Page Contents

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" 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.

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" 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.

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.

Buy $HRVST

If you want more $HRVST than you're earning, you can buy it three different ways!

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

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

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.

Use $HRVST

$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 page.

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