- Joseph Niehaus, Head of Technology and NFT Programs
- Zach Issa Al-Kharusy, Head of Talent and Culture
- Marc-Antoine Belair, Head of Operations
- Florin Podaru, Head of Business
Hoge Finance is a community-based project, and all the developers are volunteers who work for free. There is no developer wallet used for funding. A nonprofit organization in Switzerland, Hoge Association, manages the brand by executing partnerships and agreements on behalf of the community.
How Hoge Finance works
HOGE is an ERC20 token built on the Ethereum blockchain. Every transaction has a 2% tax. For example, if you transfer 100,000 HOGE, then 2,000 would be deducted.
The tax is split into two pieces. Here's how they're currently used:
- 1% of each transaction is burned. That means the crypto tokens are sent to a burn wallet (a non-recoverable wallet address). Since no one can access this wallet, the tokens are effectively removed from circulation.
- 1% of each transaction is redistributed to wallet holders. This includes everyone who holds any HOGE in their crypto wallet. Note that it doesn't include those who have HOGE stored on crypto exchanges.
When Hoge Finance launched, it burned 50% of the maximum token supply by sending 500 billion HOGE to the burn wallet. Once 70% of the total supply has been burned, the distribution of the 2% tax will change:
- 1.4% of each transaction will be burned.
- 0.6% of each transaction will be redistributed to wallet holders.
Partnerships
Charitable giving is part of Hoge Finance's mission. As of September 2021, the Hoge community had raised more than $60,000 for nonprofit organizations, including:
- St. Jude Children's Research Hospital
- The Humane Society
- International Animal Rescue
- English Bulldog Rescue of Ontario
- Patriot Paws
- First Responders Children's Foundation
Can I make passive income with Hoge Finance?
Passive income is automatic with Hoge Finance as long as you store your HOGE tokens in a self-custodied crypto wallet. If you do, you'll receive your share of the 1% cut of every transaction reserved for HOGE token holders.
While easy passive income sounds great, keep in mind that you're getting paid in HOGE tokens. If the price drops after you buy it, then you'll still lose money. And, considering this is a meme token with no real utility, there's a good chance it will decrease in value as time goes on.
Unique risks
HOGE does not offer much to distinguish itself from many other meme tokens and cryptocurrencies that charge transaction fees. These projects are a dime a dozen. Since they don't do anything unique, they all effectively end up relying on popularity.
The main hook with Hoge Finance is that you earn tokens for being a wallet holder. But that works against it as well. If you lose 2% every time you do something with your HOGE tokens, what purpose do they serve? The only way you benefit is if other people buy in and make transactions.
Is Hoge Finance a good investment?
Hoge Finance is a poor investment, and most buyers will probably end up losing money. When a crypto project is more focused on memes than on problems it can solve, that's a sign you should avoid it.
The Hoge Finance white paper does lay out some lofty (and laughable) goals, such as introducing the benefits of Ethereum's network to the mainstream. It's hard to imagine a world where Ethereum, one of the most well-known cryptocurrencies, would need Hoge Finance for this.
If you like Ethereum, you're better off investing in Ethereum. There's also Bitcoin (BTC +2.65%), other top coins with actual use cases, and cryptocurrency stocks for investors who want to add crypto to their portfolios. These all have some degree of risk, which is inherent to the crypto market, but they're much safer choices than Hoge Finance.
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