In another major milestone for cryptocurrency adoption, Hornet expands the release of LGBT Token and wallets from its beta group to its entire community platform—where regular users could become contributors.
In the initial test period of the LGBT Wallet – which kicked off in June – both the LGBT Foundation and Hornet wanted to ensure ease of use and stability before rolling out to the additional users.
Sean Howell, CEO of the LGBT Foundation says, “it was straight forward to integrate with the OST platform, launch the LGBT Token, and empower our end-users with a non-custodial crypto wallet built into the Hornet app.”
OST Platform makes it easy for businesses to incorporate a digital currency into their app and ecosystem. It is a complete set of developer tools, APIs, SDKs, and dashboards, built on OpenST infrastructure that businesses of all sizes can use without prior blockchain knowledge.
In this test period, Hornet saw 1,000+ of its beta testers adopt the Token and 5,000 transactions in the first 45 days of testing.
Source: OST VIEW
Source: OST Watch
The Initial release included offering users the ability to claim wallets and use tokens to purchase premium subscriptions.
The first launch is released to members of the community program at Hornet. By contributing to the Hornet community, one can assist millions of people around the world in making meaningful connections and earn rewards in the process. The Hornet Feed curates content from acclaimed editors, thousands of community leaders, friends, and the guy next door, to spark meaningful connections. With a presence in markets such as France, Russia, Brazil, Turkey, and Taiwan, and a rapidly expanding its sizable user base in the United States – the potential to expand the existing community is huge.
Users will be able to become community contributors whose roles could include any of the following:
The beta tester program was the first program to have access to the LGBT Token. Given the success of that pilot, it was further rolled out to all community members, which marks Phase II of the Token rollout to Hornet. In addition, Hornet retires its previous perks program for community members and offers a more robust experience with tokens.
“Retiring our perks program shows our enthusiasm and user excitement for the token backed reward system,” powered by the LGBT Foundation and OST Platform, added Matthew Norris Head of Product at Hornet.
LGBT Tokens are superior to Perks points on a number of fronts. First, LGBT Tokens are backed by OST Token which has real value. Second, LGBT Tokens are held in a non-custodial crypto wallet that has been integrated into the Hornet app. When a user earns tokens, he owns them. The tokens cannot be taken away, expired, or devalued as their value is directly tied to the OST Token. All transactions are also on public side-chains and can be explored. Last but not the least, LGBT Tokens can be redeemed for a wide variety of gift-cards and other offers, not available through the perks program.
The Hornet community is growing every day and this milestone in cryptocurrency adoption will not only value the contribution of existing users but also encourage participation from more people who want to add value to the community in a secure and trusted manner. The efforts don’t stop here, Hornet continues to innovate in terms of what more it can offer to its users through the LGBT Token and OST platform.
For now, Hornet users can sign up to the community platform here and claim their wallets.
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