The soft community launch of Hord's liquid ETH staking platform is proceeding smoothly. The public launch of Hord’s liquid ETH staking platform is around the corner, and with it, additional uses for HORD tokens.
In this article, we will look at some upcoming uses for the HORD token that are in the works.
Hord is proud to be a multi-product platform that offers a diverse range of services, including ETH staking, Viking DAO, private pools, and more.
The Hord team is introducing a unified governance model that covers all aspects of our platform. Using this model, the Hord community has a voice and can actively participate in the decision-making process for all the different Hord products. Wallets holding HORD tokens will be able to issue and vote on proposals regarding the Hord ecosystem.
Here are a few examples of proposals:
By staking HORD tokens, users can launch a private validator, pay fewer fees and receive more rewards on that validator. HORD stakers will be eligible for added features such as exit priority and the ability to franchise the private validator to others.
Launching a mini-validator will require a specific amount of ETH, which will be revealed later, and a minimum percentage of that ETH’s USD value in Hord tokens. These Hord tokens will be staked as a form of insurance. This insurance will cover extreme cases where the node’s operator faces penalties or slashing. In such cases, the staked Hord token collateral will be sold to compensate users.
Hord token stakers can receive priority ETH withdrawals with a much lower mandatory "cool down" period requirement on the protocol. The required “cool down” period on Hord’s platform will be revealed after the Hord Liqiuid Staking withdrawal functionality is released.
The specific requirements for participating in Hord’s liquid ETH staking governance will be released in the near future.