The HND & mveHND Tokens

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The Hundred Finance native and governance tokens
The HND token is the native token of the Hundred Finance protocol and can be time-locked in order to mint mveHND, its governance and utility token.
HND
While the number of chains on which the Hundred Finance HND native token is available increases, the total supply remains capped at 100,000,000 HND. All legitimate HND tokens found on other chains originated in a single token generation event that took place on the Ethereum mainnet at 13:55 pm UTC on the 14th of September, 2021. HND found on other chains are backed by locked equivalents held on the mainnet, with bridges tasked with handling the transfers that take place between chains.
The HND token supply has been portioned for distribution and usage according to the following percentages:
40% of HND is assigned to the project treasury for liquidity, partnership mining and protocol bootstrapping
20% of HND is allocated to the development fund and operations, subject to a 4-year vesting schedule
20% of HND is granted to Compound DAO, also with a vesting schedule of 4 years, as an acknowledgement of the significance of the smart contracts on which Hundred Finance is based
20% of HND goes to the Percent (PCT) token migration with 90% of the HND subject to 1-year of vesting
mveHND
A multi-chain token, mveHND confers on the Hundred Finance community of holders the power to direct the protocol as they see fit by aggregating their locked HND positions across all chains. For that reason it, rather than HND, is the true governance token of the protocol.
mveHND tokens are used to manage the distribution of protocol rewards through voting on a per-chain basis, as well as to vote on HIPs, Hundred Finance Improvement Proposals submitted to the protocol Snapshot Space. Eventually, mveHND's governance powers will include the ability to govern the onboarding of new assets, the setting of Loan-to-Value ratios, fee usage and accrual settings, risk parameters, interest rates and more. Changes such as these will be carried out through HIPs, proposals that are subject to voting as a means of collectively determining whether to carry out their implementation.
It is the intention that the governance system will soon function in full unison across all chains, allowing our chain-specific communities of users built around particular deployments of the dApp to all have a say in the overall management of the protocol.
HND Distribution
Liquidity Mining Rewards
The primary means of HND distribution is liquidity mining. This has the advantage of distributing the token to an array of holders while simultaneously bootstrapping the platform.
Liquidity mining is being implemented by emitting HND to those who provide liquidity to the platform in the form of stablecoins, as well as to those who contribute to official liquidity pools facilitated by partnerships with DEXs. In addition, we are also granting HND token emissions to those who provide assets to the B.Protocol Backstop where is has been deployed. These three principal methods encourage the use of the protocol as we deploy it on new chains and introduce it to new users.
Token Migration
A further manner in which the HND token is being distributed is through a migration mechanism that functions much like a token swap. Holders of the Percent token (PCT), the project that preceded Hundred Finance, are able to migrate their PCT to HND on a 1:1 basis, though there will be a year-long vesting schedule for 90% of the HND received. This migration can be carried out using the following page of our website: https://migration.hundred.finance​
Legacy veHND
veHND was the single-chain locked version of mveHND that proceeded the integration of mirroring technology. As mirroring is now enabled on all chains on which Hundred Finance has been deployed, it can be considered deprecated.
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