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HVT Token Model

An overview of the ERC20 token that grants access to the Hive Power ecosystem

The Hive Token (HVT) is a standard Ethereum ERC20 token managed by a smart contract, which gives access to the Hive Power ecosystem and its management.

Token name: Hive Token
Token symbol: HVT
Token type: ERC20
Maximum supply: 100 Millions HVT


Platform access

The main purpose of HVT is to be used for the creation and management of Hives. Hives are distributed energy market platforms implemented in smart contracts, in which registered participants can exchange energy with each other in a cost-effective way.

Hive owners and their market participants will have access to a number of services

  • List of blockchain-ready trusted meters
  • Access to a low cost off-chain payment system based on technology
  • Access to HONEY algorithm
  • Access to forecasting service


Users with staked HVTs will also have access to Hive Power technical governance. More specifically, all the upgrade proposals of the smart contracts will be subjected to their vote. In order to exclude potential speculative actors, only Hive Owners will participate in the governance. Their voting power will be weighted accordingly to staking age.

Stake and burn mechanism

In order to create a new Hive, the future hive owner will need to transfer HVTs in a smart contract, the Beekeeper. The Beekeeper contract performs a “burn and stake” on the received HVTs: 50% of the HVTs are taken permanently out of supply and the remaining 50% are staked inside the contract. The burn mechanism has the purpose to disincentivize unnecessary Hive management operations and reach a stable operation of the Hive Power platform. After the creation of a new Hive, the Hive Owner can send additional HVT to the Beekeeper contract in order to assign meters to the newly created Hive. This operation uses the same “burn and stake” mechanism. When a Hive is destroyed or a meter is detached, the remaining 50% of the HVT tokens is sent back to the hive owner address. The required HVT amount for an Hive creation is variable in order to ensure a stable equivalent cost in fiat. The cost will be decided before the launch of Hive Power 1.0 release.

Hive creation cost

The cost for the creation of a Hive will be a function of the amount of available HVT following the simple rule:


where HVT_a is total amount of HVT which are not staked in the Beekeeper contract or have been burned and N is a constant defining the amount of Hives that can be created using the available HVT tokens. In this way, even if more and more HVT are staked and burned, the cost of a hive in fiat should not increase as a consequence of the increasing HVT scarcity. On the other hand, the number of Hives that can be created with a certain amount of HVT will increase with the number of Hives that have already been created.

The next figure illustrates the evolution of the cost in HVT for the creation of a Hive as a function of the number of Hives already created. In this particular case, the initial price for the creation of a Hive at the moment of the crowdsale is fixed at 50$.

The exact same rule will be applied to the amount of HVT required to add a meter to a hive, which will also be a function of the amount of non-staked HVT. Obviously, the required amount of HVT will be lower than that required for the creation of a Hive.

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