On April 11th, we begin the process of changing $HEGG token from inflationary to fixed supply.
The governance token for the NestSwap platform is $HEGG, which Hummingbird Finance launched in August 2021 with 50 million tokens. With minting from farms and pools, the total number of tokens minted is now over 59 million. To compensate for the inflation, there have been token burns amounting to 10.6 million.
What will happen?
The two HEGG staking pools have already been closed. The week commencing April 10th, the minting function will be switched off and the fixed quantity will be set by burning tokens from the development wallets.
What about my staked HEGG?
If you have HEGG staked, we recommend you remove your tokens before the mint is closed. Any unclaimed rewards will be lost if you delay!
Many people who staked 100% have forgotten about the deposit. There are thousands of dollars' worth of tokens in six-month-old closed pools!
If you are not sure, connect your wallet to see if you have anything staked. Go to https://www.nestswap.app/pools/history
Further good news for holders: there is no need for tokens to be swapped.
- Same contract
- Same token
- Lower supply!
The move to a fixed supply will encourage new investors as the inflation worry will be removed. The team plans to burn tokens to bring circulation down to around 47 million HEGG.
Most importantly, anyone who has staked HEGG or any other tokens on the NestSwap platform should check and remove any staked tokens before 10th April.
As of this publication, there are still 2.5 million HEGG tokens staked.
Once the MINT function has been closed, any unclaimed rewards may be lost. Those that forget to remove tokens will always have access to remove their stake, as many people forget!
For any questions or concerns visit the Hummingbird Finance telegram group or reply to this article.
Chat here: https://t.me/hummingbirdbsc