A simple non-profit DApp & ERC20 token running on the Ethereum blockchain.
Tired of getting ICOs? Want to take a break from trading? Lock your ether and get HODL tokens in exchange.
Weak hands? You can use the Quick withdraw any time!
Get rewarded for hodling: 30 day withdrawal gets a chunk from the fee pot!
Safe, simple contract, audited by 3 independent Solidity developers, plus additional review by the community
Help the Ethereum ecosystem mature; get to try the latest in tech
Added 'Fee Pot' game element so it's a fun way to hodl!
Eth Hodler is for hodlers - a simple contract that helps holders to lock up their ether.
This contract has no owner and cannot be modified by anyone.
"This is just silly. Do people lack so much willpower that they have to
handicap themselves to have no access to your ETH? What if you lock it today
and it shoots to $200 (sic) in a week? What then? The last thing you want is
have NO ACCESS to your funds, whether crypto or fiat or whatever.
How about, just hold. There, problem solved.". - Reddit /user/Chop13
But wait, there are actually some benefits:
Each deposit to the Eth Hodler locks your ether and issues you with HODL tokens. These tokens
are then used to make a withdrawal and burned once the withdrawal is processed.
A normal withdrawal would take ~30 days to process, costing only the gas fee.
Should the holder want to withdraw their deposit early, they can, but
they must pay a %1 fee. The fees will be added to a fee-pot. Holders can claim
a chunk from the fee-pot, see the rules to find out how.
How To Use
This page is a DApp (Decentralized application) meaning that you'll need an Ethereum browser to use this.
DApp (or web3 as it's called) is really the future of the web! You can try out for yourself now, even though
it's still in the early stages of development.
The easiest way to get started is to download the
extension for Chrome.
MetaMask is currently probably the best way to use at this time as it offers the lest friction.
- Tokens will be issued when sending ETH to the contract: ?
- Normal ETH Withdrawal: must wait until after 30 days
- Immediate ETH withdrawal: Must pay a 1% fee.
- For all Withdrawals: tokens will be destroyed after withdrawal. Ether to be sent back to the
address that was holding the tokens.
- Tokens pending normal withdrawal will be locked until after 30 days.
- While tokens are locked, they cannot be transferred or sent.
- While tokens are locked, you cannot add more ETH to the address where the tokens are locked.
- When the wait period is over, you must complete the withdrawal manually. If the Fee Pot is not empty,
you will automatically claim a reward from the Fee Pot
- When claiming the reward from the Fee Pot (Complete Withdrawal), the following formula is used:
reward = feePot * v / totalSupply
Where v is the amount you had when the withdrawal was requested,
totalSupply is the total amount of tokens in circulation at the time when Complete Withdrawal was called.
- After withdrawal to ETH, tokens are burned, thus deflating the token supply.
List of exchanges listing the EHDL token
EHDL tokens are trade-able too.
- The contract is ownerless and non-upgradable. The Author of the contract does not own the contract, does not have any special access to the contract, this can be verified by reading the source code.
- The contract code is kept as simple as possible (KISS).
- The contract's source code has been verified through
Etherscan and you can read it there yourself
- Auditing process and maturity process: The contract went through 3 independent peer reviews, each completed by a different experienced Solidity
developer (see reviews posted to Github). Additional reviews were performed in June 2017 by members of the /r/ethtrader community after the Author found a bug
in the original Hodl Dao contract, a week after launch. See this thread for details about how the issue was handled.
- If enough holders enter the contract, Price of ETH should go up, because ETH is removed from the
- Better than normal holding, since holders can claim from the fee-pot, after holding for the minimum
- Should the ETH price spike to say $20,000 USD, immediate withdrawal will still be possible.
- HODL tokens may be trade-able on an exchange, and on face value 1 EHDL = 1 ETH, should an exchange add
- Who is the bigger hodler? Basically the bigger the holder, the bigger chunk the reward they get, and yes,
the risk is there that there could suddenly be a larger hodler than you coming in! (The reward is
based in the Total Supply, and it will be increased when new ether is locked in, but also decreased
in your favour if weak-hands use the quick withdraw)
Mist Wallet - instructions for the professionals
It's much easier to use an Ethereum Browser / MetaMask, but you can also use the Mist wallet by itself
if you have the patience. (Or another non-browser wallet that supports contracts / tokens)
ABI / Json interface
Here is the Json interface. You may need this if you want to interact with the contract wallets such
Adding the contract to Mist
Mist Wallet - Interacting with the contract
Mist Wallet - Quick Withdrawal
Mist Wallet - Normal Withdrawal
Reddit's Ethtrader member, /u/CurrencyTycoon/
- A huge fan of /user/lagofjesus who gave
inspiration to write this contract after reading his story.
Follow @CurrencyTycoon on Twitter https://twitter.com/CurrencyTycoon
See Eth Hodler on
Why ETH could hit $20,000 USD? (and possibly beyond)
Note: This is not investment advice, do not go out and buy ETH just based on the following summary. However, please understand the risk. Hopefully, don't just hodl ETH only for the sake of speculation, 'hodl', 'moon' or 'lambo' memes, but also take some time to understand how the whole system works, perhaps even try to learn smart contract and DApp development, have some fun learning, or participate in more serious projects, either as a user or maybe even as a developer! Hopefully, in the future, you will be able to use your ETH on a new type of internet - the decentralized web. The only investment advice here is: Stay away from day-trading or margin trading, there are just too many horror stories with these.
In summary, here are some points:
- Bitcoin ascended from $1000 to $20,000 USD between dates Jan 2017 and Dec 2017. Sure, bitcoin supply is about 7x less, however, now (as at Jan 2018), there are estimated to be ~20x more cryptocurrency enthusiasts than at the start of 2017. (Source: Coinbase's Alexa ranking changed from #4000 on Jan 2017, to just #200 on Jan 2018, a whopping x20 increase. A similar observation can be ascertained by checking the alexa rank of many other similar cryptocurrency websites.) The growth has been phenomenal, and surely this growth means that Ethereum has a much wider launchpad moving forward as it gains public awareness.
- Interesting property of Casper / Proof of Stake (Pos): There would be an economic interest to keep the price high. Why? The higher the price, the better the security, since this would make the cost of a 51% attack high. Source: Reddit post.
- There has been proposals for the introduction of 'sinks' into Casper that burn away Ether supply to make it more scarce. In the future, Ethereum may be designed to lose coins, thus deflating the supply. See also discussion on Reddit.
- There are already many natural coin sinks in ETH, including lost ETH (lost/deleted/forgotten/deceased), Tainted/blacklisted coins, and there are many coins being locked in smart contracts, on purpose, or accidentally.
- Public awareness is still low. Ethereum Futures and other similar products are yet to arrive on Wall Street/Main-Street. In 2017, we've seen the launch of bitcoin futures on U.S. exchanges Cboe and CME. It's only a matter of time before they arrive to ETH. Pension funds / retail investment products are some of the other things that are yet to come, but it's only a matter of time as the old banks / dinosaur financial institutions scramble to remain relevant.
- No need to ever "cash out", as your held ETH will become an 'Reserve Asset'. Instead of selling your ETH, you could use it to get financed, borrowing some "Stablecoins" from a contract that's running completely on-chain, decentralized. (See this Reddit post for a longer explainer). We have already seen progress in this area with the launch of Dai stablecoin by MakerDao in Dec 2017.
- Vast array of developers that have chosen Ethereum as a platform. Make no mistake, Ethereum is not just a currency like bitcoin. It's an entire platform for Decentralized Applications (DApps) the scope and reach is much wider.
- We may see more surprises come to Ethereum like we did with CryptoKitties in 2017. Nobody could see that one coming, who knows what other viral apps will sprout in the near future. This is the main difference between Bitcoin and Ethereum - in Ethereum, there would be a larger demand for coins because they are useful for something, i.e. executing smart contract applications. With a smart contract transaction, perhaps you may acquire a collectible kitty, or place a bet on a decentralized Prediction Market, or place an order on a Decentralized Exchange, or Collateralize your ETH/tokes to get financed, or participate in an ICO, or buy actual real Gold, or vote in an election, or whatever there will be in the future - the greater the use of the Ethereum platform, the greater demand for ETH in the future. Therefore, you should be 'hodling' ETH not because you hope that you could sell it for more to others later, but because there will be so many good uses for it in the future, which you may want to use for yourself too.
Like this? Here's the share link: https://www.ethhodler.org/#why-eth-20k