How Hornhub Once Again Showed Itself as the Most Honest Project in Defi.
Recapping the Fourth Voice Chat
Hornhub is becoming well-known in the DeFi space for its honesty, authenticity and transparency. Once again that was on full display during the latest — impromptu — Voice Chat with the community. This one was hosted by just Bull himself this time around, and he let all the investors know exactly where the project was at and what they can expect going forward.
The first point that Bull covered was the exciting news that after a long wait Hornhub had finally been listed on CoinMarketCap (and Coin Gecko is expected to follow suit soon)! The much sought-after placement on the lauded websites had been a point of much contention for the community as it had taken over six weeks, and multiple applications made for it to finally happen. Throughout the process the project had maintained its dignity, refusing to pay ‘under the table’ for fast listing — and it paid off, happening organically at the perfect time. This was because the listings came at the exact moment the project also hit the top position on DEXTools trending, which saw an explosion of activity and floods of new investors coming in, raising the market cap up to an exceptional new all-time high of $32 million USD.
Bull also recapped a little about the project itself for the scores of new investors that had entered into the community, such as how the Hornhub platform will feature all content from different creators and explained how the whitepaper is being updated to reflect this. He also filled them in on the exciting platform feature that allows talents to mint NFTs with the click of a button, which can then be sold and traded on the upcoming, dynamic, marketplace — all while earning royalties in perpetuity. Lastly, Bull explained how the website has a seamless Fiat on-ramping system, which means that those unfamiliar with cryptocurrency can still use the site with ease, as their credit and debit card payments are all converted back-end, supporting the project through taxation fees, while then converting to credits that can be used on the site.
However, the main subject of the conversation was that of the current state of the beta testing release. Bull explained how the project development has been split into nine separate parts (which he outlined in detail and are presented below):
0) Engineer and develop payment flow (FIAT > token > credit)
1) Front End
2) Backend (85%)
3) Front/back-end integration (65%)
4) Registration / account / password / reset/ forgot
5) Expand backend -> admin panel
6) KYC API (Not needed for beta)
7) Payment getaway (Not needed for beta as ‘synthetic’ credits will be used)
8) Back and front-end integration
9) Beta test launch
Bull continued to explain how step zero was due to be finished the very same day of the voice chat, that the front end is already complete, and the back end is around eighty-five percent complete. He then went on to mention how the front and back-end integration, (connecting the two together) is sitting at around sixty-five percent complete, and steps 4 and 5 were both finished. KYC /API are both in progress and not needed for the Beta, nor is step 7 — but will be done in time for official launch.
The main point that Bull focused on was of course part 9, where he revealed that the project has experienced some slight delays with engineering and building the payment back-end flow part of the platform (step 0), which the development team worked on the clock to resolve and got finished the same day of the announcement and was subsequently tested and deployed. However, the delay unfortunately caused a bit of a domino effect, delaying development on the back and front-end integration (step 8). Bull continued on the explain how the hold-ups mean that the project has had no choice but to delay the launch of the beta platform by roughly fifteen days (with a view to launch on the December 15).
Bull then gave further clarification on why the decision to delay was taken. Simply put he explained it is because no one in the DeFi space has done what Hornhub is attempting to do — creating a system that combines fiat and cryptocurrency tokens into one platform, seamlessly. In addition, he spoke on how when innovating in the blockchain space, combining major features requires the developer to connect multiple sub-tasks that make up one feature, which is a difficult task. Lastly, he explained how the project (as always) has unrelenting standards in terms of quality, and refuses to release anything that is sub-par. He finished up the announcement by assuring the community that the beta platform is very close to being finished and launching — it just needs a little more time to be fully polished and ready to go, which the fantastic community was very understanding of.
Bull then opened the chat for questions. The first was from a new investor, who was enquiring about the project allowing staking. The reply was that staking is not only being considered, but that a yield farm is in the process of being created and will be ready to launch within the coming few weeks! It will allow for the staking of $HHUB tokens and will also yield rewards of BUSD in addition to reflections of the native currency itself.
While waiting for the next question to come in, Bull revealed a little surprise, which was that the team entered approximately sixty-one participants who wanted to be involved in beta testing into a Gleam competition. Due to the delays the project decided to select all of them! This went down an absolute storm with the community, who are all keen to see reports on how the platform tests when its beta version is launched.
Long-time investor Blob (who also won the recent $75 article clap competition) popped in to thank the team for being transparent, and that delays in good projects are understandable and expected. He did have a question from a friend that related to why the project chose to use the Binance Smart Chain rather than Ethereum or other networks. The answer was simple, in that Ethereum gas fee charges are currently prohibitively expensive, which would have meant integration with fiat payments would have been all but impossible, as the customer would be charged far too high a percentage on credit card payments to cover them. The BSC was simple the smart choice, and the team are committed to showing that there are genuine projects among the meme tokens that exist in the space.
A few other questions came in, superficially around the large marketing push and whether it would be delayed, coinciding with the delay in beta launch. Bull explained how it has started and that it will simply be added to and keep going right up until full launch! He also gave a sneak suggestion of something happening in the evening. This was later revealed to be that Hornhub were taking part in a huge cryptocurrency evening at The Bord’Elle in Montreal! There was a dedicated VIP area where the project was represented by leads Rocco, Bull and The4CL themselves — which also meant that for anyone attending, it was their first opportunity to meet them in person. (There will be a recap on this event itself soon)!
Bull wrapped up by explaining how proud he is of how far the project has come in just 45 days, and how tirelessly the team works, as well as thanking the community for their constant support. He explained how the project will not stop until it becomes one of the most recognised sites in the word, and that it will become “the Facebook of content creation.” With the constant effort going into the project, as well as its refreshing honesty and transparency, Bull’s words could end up being not hyperbole, but simply a statement of future fact.