Utilization
This section describes HTO utilities that had Heavenland creators in mind from the beginning, but we are sure many HTO utilities will be discovered in the future.
Last updated
This section describes HTO utilities that had Heavenland creators in mind from the beginning, but we are sure many HTO utilities will be discovered in the future.
Last updated
HTO is a utility and governance token for Heavenland metaverse. A utility token because it serves as the main currency in the metaverse. A governance token because HTO together with staking mechanism defines the Heavenland DAO.
It’s impossible to define all the potential uses of HTO since most of them are yet to be discovered by Heavenland’s citizens. This section only tries to categorize all these uses.
NFTs purpose is to define ownership. If you own land, have a custom avatar or possess some other assets, it’s all stored on the blockchain in the form of NFT. Some NFTs will be created by Heavenland, other NFTs by its users. All NFTs will be tradable in HTO, first on the Heavenland marketplace, later in-game. The overview of NFTs follows.
Parcels are the most important NFTs created by Heavenland, giving users ownership of a part of Heavenland. There are 30,000 parcels in total; each parcel has a size of 25m x 25m and supports buildings of different heights and depths; some parcels allow for drilling through the Tubus and building on its outer side. For more information about Parcel NFT attributes, see their web page https://heavenland.io/parcels.
Parcels are distributed to users in two rounds - Initial Parcel Offering and Parcel Auction. The former happened on February 2nd, 2022 and distributed 5,000 parcels in a mint process. Parcels for the mint were selected to have a bigger chance of being from Heavenland's centre and close to the spawning areas. There were two main reasons for this, first to motivate early minters by giving them a greater opportunity to mint more valuable parcels; second, to have the centre of Heavenland more occupied so it can start forming from the centre and grow organically like real-world cities.
After Initial Parcel Offering, 25,000 parcels are waiting for their owner. These parcels will be sold in auctions, where the bidder knows what parcel they're bidding. We intend to open approx. ten auctions a day, each auction running for seven days. It should take more than six years to sell all the parcels at this pace to allow high-quality urban development. Unlike the Initial Parcel Offering, which allowed payment in SOL only, the Parcel Auction will be in HTO as soon as Heavenland's marketplace is up and running.
If the user owns two adjacent parcels, they're allowed to merge them and create a Parcel Bucket, a special type of NFT, which extends the possibilities of parcels before their merge. Merging should incentivize users to buy adjacent parcels and grow their value. For more information about Parcel Bucket, see their web page https://heavenland.io/parcel-buckets.
Avatar System is described in detail in its own Section.
There will be a wide range of NFT classes in Heavenland. So far, Parcels, Parcel Buckets and Avatars have been mentioned. All of these offer the user only a basic template for further customization. Users can give their avatar a name and equip them with different wearables. Parcels can be customized in an even more prominent way than the avatars - they can support different buildings, construction types, furniture and other assets created by FBX builder. In addition, users will be given SDK to build interactive content.
There is a strong initiative from our partners who have invented ingenious ways to bring their product to Heavenland's experience. Heavenland's been fascinated by Solamids project, which creates a Pyramid building with almost 5,000 apartments in its designated place in Heavenland. And this could just be the beginning.
All the NFTs will be tradable. In Heavenland's early stages, trading will happen on already established marketplaces in SOL, and later, Heavenland will develop its own marketplace. Next to aggregating offers from other marketplaces, Heavenland's marketplace will allow for trading in HTO and will be implemented as an in-game marketplace in the later stages.
In addition to NFT trading, Heavenland's marketplace will contain special sections allowing users to work with staking, renting, ad-space and parcel merging, to name just a few. The main goal of Heavenland's marketplace is to be adapted to its specific purpose, so the trading experience can be as user-friendly as possible.
Although prices will be quoted in HTO, the marketplace will accept SOL and USDC, which will be automatically swapped to HTO. Marketplace will increase HTO demand and collect royalties and fees from each trade it processes.
When Heavenland marketplace is HTO-ready, it will be implemented as an in-game marketplace to raise the metaverse experience to a whole new level. While the player is embedded in the game, the possibilities will include much more than what a separate marketplace would offer like payment for different services such as a ticket to a concert or payment for transport.
Heavenland will collect a fee from all of these payments; the size of the fee differs based on the type of service. The fee will have two main purposes. First, it needs to ensure Heavenland is sustainable and can cover all the real-world expenses in its later stages. Second, it should cover the costs to verify the transaction and its execution on the blockchain.
Staking mechanism is described in detail in its own Section.
In Heavenland, you can rent assets. Imagine you own a parcel, and on that parcel, you create a 4-floor building. Close to the ground, you’ll have a shopping area, while the higher floors are designated for entertainment. It’s possible to monetize this building on your own, but wouldn’t it be better to rent it so others can use what you’ve built?
Renting in Heavenland will proceed through the delegated staking - if a renter wants to rent, the rentee will be obliged to stake some HTO on the renter’s behalf, and the reward from stake will be split between renter and rentee. The renter can create as many renting opportunities as he wants within a given parcel, with the only restriction - the maximum number of HTO tokens that can be staked on the given parcel. The stake put by rentees counts the same as that of a parcel owner.
HTO takes the role of governance token. HTO tokens staked, multiplied by the corresponding staking multiplier, gives a total number of votes the staker (voter) has. We believe this mechanism reflects who should have the right to vote because to have some votes, you must stake HTO, but to stake HTO, you must also own something in Heavenland. This way, voting is reserved only for those truly engaged in Heavenland and should prevent individuals from taking control over DAO. In addition, this model allows more granular voting like letting only a single cluster to vote about what happens within the cluster.
Heavenland's DAO will decide on some aspects of Heavenland. These aspects can include decisions about public spaces, partnerships, features to be implemented, how Stakeholders should spend their HTO and much more.
Each voting will have 4 stages.
Revelation What will the voting be about? We must identify a voting subject. The subject can originate not only from Heavenland but also from any member of its community.
Discussion What will be the choices to vote for? When the voting subject is revealed, Heavenland creates mock voting with some voting choices, and every voter (staker) is given a chance to participate in the discussion and propose new voting choices. This stage will take 1-2 weeks.
Voting What choice will win? Voting choices have been finalized and now every voter has a chance to give their vote to a single voting choice. This choice can be changed at any time during the voting. This stage will take 2 weeks.
Execution Was the winning choice executed? When the voting ends, Heavenland needs to do what DAO has decided. Heavenland's doing must be transparent and easily verifiable by everyone.
