Honeyland, a captivating web3 mobile game running on the Solana blockchain, has partnered with Streamflow to meet compliance with cryptocurrency regulations. Given the increasing regulatory concerns in the cryptocurrency space, oftentimes teams must segregate tokens among different entities and transfer them from offshore co. or company-owned wallets to wallets possessed by the game.
Honeyland used Streamflow to distribute $HXD tokens from its foundation wallet to project wallets that hold tokens going to in-game player rewards, to meet compliance with cryptocurrency regulations.
Altogether, the Honeyland team set up a total of 9 vesting contracts for 345,211,331.46 $HXD, approximately 34% of its supply. This partnership helps to guarantee compliance while saving Honeyland developers valuable time by eliminating the need for manual distribution setup. Furthermore, Through Streamflow, developers can easily monitor their $HXD token streams through a unified dashboard, ensuring a smooth release of tokens into distribution wallets.
How did Honeyland setup token vesting?
Honeyland leveraged Streamflow’s Multi-signature Wallet to establish a treasury under the management of its development team. Streamflow multi-signature wallets, built on top of our no-code token vesting app, enabled the Honeyland team to automate fund distribution through team member voting and proposal mechanisms, ensuring a system of internal checks and balances.
Using the multi-signature wallet, they configured vesting contracts to allocate funds to dedicated wallets, serving purposes ranging from in-game rewards to investor equity distribution.
Following the initial setup of vesting contracts to distribute $HXD, the need arose to reward community members with a one-time giveaway. To address this requirement, Honeyland employed Streamflow’s Token-Lock feature, which enabled the creation of time-locked contracts.
These contracts automatically “unlock” and disburse funds to giveaway recipients at a specified date and time.
Using Streamflow, Honeyland has ensured the efficient and compliant distribution of its HONEY token ($HXD) within the Honeyverse. Honeyland’s use of Streamflow’s Multi-signature Wallet and token lock features further solidifies its position as a pioneering GameFi project in the crypto space. This collaboration has enabled Honeyland to seamlessly distribute tokens within its ecosystem while maintaining compliance with current cryptocurrency regulations.
Streamflow is a pioneering token operations platform empowering organizations to streamline fund distribution with unparalleled efficiency. Through Streamflow, teams gain the ability to automate vesting schedules, create airdrops, and integrate our Software Developer Kit (SDK) for tailor-made solutions.
Honeyland offers a captivating mobile-first blockchain strategy game, inviting players to step into the role of a Beekeeper responsible for managing their Bee colony and lands. Players can embark on missions within different universes, competing with others to acquire valuable in-game items and the scarce HONEY ($HXD) resource. In Honeyland, players can earn HONEY ($HXD) and NFTs, and use them to expand their in-game “colonies,” participate in the Honeyland economy, or trade on various exchanges.