New Year, New Me: $500k Liquidity Lock and Next Steps for El Hippo

Digging into price analysis, market factors, massive updates, and memes!

Jan 06, 2024

It’s been quite a busy few months for El Hippo, with two major listings, multiple all-time price highs, major project announcements, and more.

In this newsletter, get ready for:

Liquidity lock
Market report
Regular token burns
Web3 Game Announcement
HIPP Token Adoption — Spend HIPP as Cash
AMA Recap
Fan Art Contest Results

Let’s dive in.

Market Insights

For the first time since we started doing these newsletters, HIPP prices are down for the month.

So what’s causing the prices to drop?

We just distributed $54,000 in airdrop rewards followed by a new all-time high in price. Understandably, people who received their free HIPP tokens and saw them reaching the highest price in HIPP history decided to cash out and take some profits!

This caused prices to lull over the holiday season, which is to be expected.

But don’t worry — we have plenty more AMAs and high-profile project announcements, including listings, coming right up.

Publicity often equals higher prices, so we’ll see what happens in this case. In fact, HIPP reached an all-time high during one of our recent AMAs!

AMA Madness and Christmas Party

We did several more AMAs over the Christmas period, both written and verbal interviews with our communities through our official Telegram channel as well as with collaborative agencies.

Our favorite questions and answers:

Can you please tell us the experience of your team about blockchain field? Do they have any experience working in crypto and non-crypto projects?
The team is highly experienced in business development, content marketing, PR, social media and community management, finance, and software. We were extra careful when putting the team together that we chose people who know how to get stuff DONE, and that's why we are where we are today and growing quickly.

What are the next steps that hipp is going to be taking?

El Hippo has a TON of crazy stuff planned. Some of it we'll keep a surprise for later today, but what we can say right now: we're developing a web3 game, we're launching a merch store and NFTs that will give 1% of the whole token supply to NFT holders, we're locking the liquidity pool, and we're now partnered with CLS, a market maker that will increase our liquidity and help us secure more CEX listings!

As the crypto space continues to evolve, security remains a top priority. How does El Hippo approach security measures for the $HIPP ecosystem? Are there specific protocols or audits in place to ensure the safety and trustworthiness of the platform and its community?

Great question Shopcek! Yes, plenty of security measures are in place. We've been audited by Hashcheck who have given us a clean bill of health for our smart contract and project security, and our contract is also fully transparent and you can track it with ENS domain names elhippo.eth, hippnft.eth, and hippcex.eth

We Just Implemented a Liquidity Lock!

On December 22, we locked over $500,000 worth of HIPP in our liquidity pool, meaning those funds are now no longer in the hands of the dev team. This is our way of making El Hippo transparent and reliable — the funds are controlled by no single entity.

After four months, we’ll unlock the funds and burn any unclaimed fees in the Uniswap liquidity pool, then lock it for four months and repeat. Regular token burns means HIPP will become a scarcer resource over time. The last burn caused an all-time high in price, so

Check out our proof of liquidity lock here.

Web3 Game En Route

One of the major announcements is that we’re working on a Web3 game that will use HIPP tokens as part of the gaming experience. We’re really excited about this one, so stay tuned folks!

Speaking of using HIPP tokens…

You Can Now Use HIPP as Money

That’s right — you can now spend $HIPP like cash!

Thanks to #Ivendpay, you can now spend it at over 400 merchants in 7 countries.

How fun is that!

Check it out:

Holiday Artwork

Our wonderful online community has been working hard to create some lovely Christmas-themed fan art! The El Hippo community voted on the best pieces to showcase, and the RESULTS are IN!

Let’s take a look.

#1 @ovro559188

Some hand-drawn artwork from El Hippo fan Orvo! We love it.