Holo’s Asset-Backed Cryptocurrency

Holo is powered by HoloFuel, a cryptocurrency backed by digital assets — the processing, computation, and storage needed for efficient cloud hosting.

HoloFuel logo

A New Breed of Cryptocurrency

HoloFuel is a whole new breed of cryptocurrency. Unlike its predecessors, it is not a crypto-token or cryptocoin, but a mutual credit accounting system where every transaction is countersigned on the local chains of both counterparties. This design allows crypto-credits to forge new patterns of social and market behaviors that have not previously been possible.

Read the Currency Paper

What is HoloFuel?

  • HoloFuel is the internal micro currency that powers the Holo hosting network.
  • HoloFuel’s primary use is for app publishers to pay Holo hosts for their services.
  • HoloFuel is a mutual-credit crypto currency capable of billions of daily microtransactions.

What is HOT?

  • HoloToken (HOT) is an ERC-20 token that will be convertible to HoloFuel during the swap period.
  • HOT will be exchangeable 1:1 for HoloFuel during the currency swap on the Holo Reserve.
  • HOT will continue to be available on exchanges after the swap.

How it Works

Holo credits are designed to power distributed applications operated by a network of hosts who provide computing power. Therefore, specific roles and responsibilities are defined within this ecosystem.

The Swap

Hodler’s of HOT will have the option to swap into HoloFuel at the HOT reserve account at Beta launch.

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Diagram Diagram
Read the Currency Paper

Reserve Accounts & Swap: How it Works

We expect the largest variations of supply to happen through Reserve Accounts. The supply of credits expands when a reserve account (such as the Holo organization) sells hosting credits for a correlated outside crypto or national currency. Reserve Accounts have a special algorithm for expanding their credit limit by committing a Proof-of-Reserve record to their chain to demonstrate receipt of a payment in the accounts’ correlated outside currency for Holo credits. The outside funds are then held in reserve for network hosts who receive credits from purchasers of their services. Any credits redeemed through a Reserve Account must have been earned for providing hosting, which can be confirmed by auditing hosts’ Proof-of-Service entries and transaction histories.

While Reserve Accounts may temporarily expand the supply, they only do so in response to increased demand. As hosts redeem their hosting credits, the supply decreases again. The expansion of the supply raises liquidity for hosts giving them an opportunity to cash out increasing perceived value.

Dig deeper into Dynamic Currency Supply

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