HONO V2: Boosting Growth and Security with Wrapped Staked Ether (WSTETH)

We're excited to announce that HONO is upgrading to HONO v2, and we're making some big changes to boost growth and provide more value to our community. Currently, HONO is supported by regular Ethereum (ETH), but this hasn't been helping us grow as much as we'd like. So, we're moving to Wrapped Staked Ether (wstETH), a special kind of asset that grows 3% annually. This means that with wstETH, HONO v2 will keep growing steadily over time.

At the time of writing, each HONO token you hold is backed by a certain amount of ETH (0.01610795 ETH, to be exact), and 41.748599 ETH secures the total amount. The upgrade to HONO V2 is set for mid-August 2024 and will be implemented on Thursday. When this happens, the HONO-USDC liquidity on Uniswap will be updated automatically. If you hold HONO in your wallet, you'll need to convert it to HONO v2 manually. Don't worry—the exchange rate will be fair and based on the value of HONO v2 at the time of the conversion.

Key Points:

Switching to WSTETH: We're moving from regular ETH to WSTETH for consistent growth.

Current Value: Each HONO token is backed by 0.01610795 ETH, with the total backed by 41.748599 ETH.

Upgrade Schedule: The switch to HONO v2 will happen in mid-August 2024, with automatic updates on Uniswap.

Manual Conversion: If you hold HONO in a personal wallet, you must convert it to HONO v2. The exchange rate will be fair and based on HONO v2's current value.

In Conclusion:

This upgrade is all about making HONO better and more valuable for everyone in our community. We're excited about this new chapter and believe it will help us grow and adapt to the ever-changing crypto market.

Stay tuned for more updates on the HONO v2 upgrade and how you can participate in this exciting new chapter!