Welcome to Hope Finance, home to the first algorithmic token pegged to 0.001 $ETH on the Arbitrum network.
The $HOPE algorithmic token serves as the backbone of a rapidly growing ecosystem aimed at bringing liquidity and new use cases to the Arbitrum network.
The protocol's underlying mechanism dynamically adjusts $HOPE's supply, pushing its price up or down relative to the price of $ETH.
Inspired by the original idea behind Basis as well as its predecessors (bDollar and soup), Hope Finance is a multi-token protocol that consists of the following three tokens: -HOPE ($HOPE). -HOPE Shares ($DREAM) -HOPE Bonds ($WISH).
Unlike previous algorithmic tokens, $HOPE is not pegged to a stable coin— it is instead pegged to $ETH.
Why is this? Hope Finance believes in the potential of the Arbitrum network, and has chosen to align its mission to both provide value to and derive value from $ETH's future growth. In addition to existing and future use cases such as ETH Pad, $HOPE aims to make ETH the main medium of exchange on the Arbitrum network: this will be achieved by providing a mirrored, liquid asset to $ETH.
One of the primary shortcomings of past algorithmic tokens has been a lack of use cases, leaving no good reason for somebody to want to use or hold them. In order to successfully maintain the peg in the long-run, the Hope Finance team will maintain a focus on innovation around enhanced functionality and use cases.