What is HelpSteps?
Helpsteps Token (HSX) is a utility token that is used to reward users for their activity in the HelpSteps app, a platform that connects people who need help with people who can offer help. Users can earn HSX by completing tasks, providing feedback, or inviting friends to the app. Users can also redeem their HSX for HS, the value used within the app for transactions and donations.
HSX is a digital token that is built on the Omchain (OMC) network using the ERC-20 standard. It has a fixed total supply of one billion tokens, and can be transferred between wallets that support the Omchain (OMC) network, such as Metamask.
The main purpose of HSX is to allow users to extract the value they have earned through their activity in the HelpSteps app. In this sense, HSX functions as a utility token, giving users the right to redeem their HSX for HS, the value used within the app for transactions and donations.
HSX token holders also have the ability to participate in the decision-making process for the HelpSteps ecosystem by voting on various issues. This allows them to influence the direction and development of the app.
HSX uses a unique token distribution mechanism, and has a token lifecycle that burns 0.5% of HSX tokens every time they are converted to HS. This helps to maintain the value and stability of the token.