Honey Price

Honey (HNY) is a cryptocurrency governing the 1Hive DAO ecosystem on the Gnosis Chain.

The token fuels the 1Hive ecosystem, featuring Honeyswap, a decentralized exchange forked from Uniswap V2. By deploying on the Gnosis Chain (formerly xDai), the protocol eliminates the high gas costs and network congestion that hamper Ethereum-based DEXs. Traders swap tokens and provide liquidity with minimal fees, while Honey holders direct the DAO's treasury through stake-weighted voting.

Honey operates on the Gnosis Chain network. A bridged representation of the token also exists on Ethereum, mirroring supply through a lock-and-mint mechanism to enable cross-chain liquidity.

Both the native and bridged Honey tokens conform to the ERC-20 standard, ensuring compatibility with existing wallet infrastructure and DeFi protocols. The core decentralized exchange, Honeyswap, uses Uniswap V2's constant product bonding curve algorithm, enabling permissionless liquidity pools and trustless asset swaps. Smart contracts for the DAO and the DEX are openly inspectable in the 1Hive GitHub repository, aligning with the protocol's transparent governance ethos.

The 1Hive collective emerged as an open-source community, deploying Honeyswap to exploit the xDai chain's low fees and faster block times. The DEX launched by forking the audited Uniswap V2 codebase, customizing only the necessary parameters for the sidechain environment. From its genesis, the DAO adopted Conviction Voting—a time-weighted staking mechanism—to allocate Honey issuance toward community-vetted proposals, preventing plutocratic dominance.

The protocol's mission is to cultivate a permissionless digital currency whose monetary policy is dictated entirely by stakeholders. By linking issuance to value-accretive proposals, the DAO aims to align incentives for long-term ecosystem health and organic growth. Conviction Voting ensures that even minority participants can accumulate influence over time, fostering resilient collective decision-making immune to sudden capital attacks.

Honey tokens confer governance weight; holders lock them into conviction-weighted votes to signal priority for DAO initiatives. The asset also serves as the reward medium, distributing fresh issuance to liquidity providers and project developers whose proposals pass community review. This escrowed voting mechanism ensures that token utility is directly tied to active participation rather than passive holding.

Token holders can stake Honey into specific proposals to build voting conviction over time, steering treasury allocations without needing a majority. Liquidity providers deposit the token into Honeyswap pools, earning swap fees and, potentially, additional issuance as an incentive to deepen order books. Project teams soliciting grants must articulate value-generating initiatives, aligning token demand with the success of funded ventures.

Honey has a total supply of 36,489.98 tokens. Currently, 0 are in circulation. The DAO mints tokens according to proposal outcomes, making the inflation rate dynamic and subject to community governance. With a market capitalization of $0, Honey ranks #5,787 among all cryptocurrencies.