StrongHands SHND Price

What is StrongHands (SHND)?

StrongHands (SHND) is a cryptocurrency designed to promote long-term holding and community engagement. Launched in 2018, it operates on the Ethereum blockchain and is characterized by its unique tokenomics that encourage users to hold their tokens rather than trade them frequently. StrongHands employs a deflationary mechanism, where a portion of transaction fees is redistributed to existing holders, thereby rewarding loyalty and long-term investment. As of early 2024, the total supply of SHND is capped at 1 billion tokens, making it a limited resource that can potentially increase in value as demand grows.

Who are the Founders of StrongHands?

The StrongHands project was founded by a team of cryptocurrency enthusiasts and developers who sought to create a community-driven token that incentivizes holding over trading. Notable figures include the pseudonymous creator known as “StrongHands,” who has been involved in the crypto space since 2017, alongside a collective of developers and marketers who support the project’s growth. The team emphasizes transparency and community involvement, regularly communicating with supporters through social media platforms and forums.

How does StrongHands Work?

StrongHands operates on a proof-of-stake model that allows users to earn staking rewards by holding their tokens in a compatible wallet. Every transaction incurs a fee, a portion of which is redistributed to existing holders, effectively increasing their share of the token supply over time. This mechanism is designed to discourage selling and promote a strong community of holders. Additionally, StrongHands incorporates a burn mechanism where a fixed percentage of tokens from each transaction is permanently removed from circulation, further enhancing scarcity. The ecosystem also provides a user-friendly interface for staking and managing tokens through its dedicated platform.

Tokenomics

The distribution of SHND tokens is structured to ensure a fair initial launch, with allocations designed to support development, marketing, and community incentives. Approximately 40% of the total supply is reserved for community rewards, while 20% is allocated to the development team. The remaining supply is distributed through liquidity pools and public sales.

Top Use Cases of StrongHands

• Long-term Investment: SHND is primarily designed for investors looking for a stable, long-term asset. Its deflationary nature and reward system encourage holders to keep their tokens, potentially increasing their value over time.
• Staking: Users can stake their SHND tokens to earn rewards, providing an additional incentive to hold rather than trade. Staking reduces the circulating supply, which can contribute to price appreciation.
• Community Engagement: StrongHands fosters a vibrant community through events, contests, and social media interactions, creating a sense of belonging among holders and encouraging active participation.
• Decentralized Finance (DeFi): As the DeFi space expands, SHND can be integrated into various DeFi platforms for lending, borrowing, and liquidity provision, enhancing its utility within the broader crypto ecosystem.

How to Keep your StrongHands Safe?

To ensure the safety of your StrongHands tokens, follow these best practices:

• Use Hardware Wallets: Store your SHND tokens in hardware wallets like Ledger or Trezor. These devices provide an extra layer of security against hacks and malware.
• Enable Two-Factor Authentication: For exchanges and wallets that support it, always enable 2FA to protect your accounts from unauthorized access.
• Be Wary of Phishing Scams: Always double-check URLs and avoid clicking on suspicious links. Use official channels to access your wallets and exchanges.
• Keep Your Software Updated: Regularly update your wallet software and any applications you use to ensure they have the latest security patches.
• Educate Yourself: Stay informed about the latest security practices in cryptocurrency and be aware of common scams to protect your investment.