The project is aiming to provide an open platform for decentralized apps where token owners are incentivized to HODL. HODLers of HIT tokens are rewarded with free tokens of the projects joining the network proportionate to their HIT holding. This concept would not only help bring stability to crypto prices, but will also shield token holders from scam projects, as the HODLit team will only add projects to the network after thorough due diligence. The reduction in price volatility and scam protection by moving to Initial Coin Distributions (ICDs) instead of ICOs will ultimately result in wider adoption and growth.
Similar to Decentralized Autonomous Organizations (DAOs) platforms, the network will provide much needed support to entrepreneurs and projects that do not have the resources to build their DApps on their own. There are an estimated 100 million start-ups opening each year. Many of these will benefit from the media exposure, and development expertise offered by HODLit.
The project is led by a diverse and highly ambitious team with a wealth of experience in blockchain development, entrepreneurship, investment fund management, and legal practice. They are hoping to expand the team to 50 people by the end of 2018.
HODLit Network already has 4 promising projects on board including AlphaSwap, a crowdsourced alpha capture and asset management system based on blockchain technology, and Expanse, the next generation decentralized trading platform. Whether you’re an investor, or an entrepreneur looking for help in bringing your ideas to light, we recommend you give the whitepaper a read.
HIT is already listed on ForkDelta. The first round of airdrop, as part of the ICD was completed in March after a Proof of HODL. The second round of ICD is this "airdrop", with 10 million tokens, worth $4 million expected to be airdropped.