IUC tokens are the community token of the Indiaunited community. In this article, I'm going to be talking about the benefits of the token and a short guide on how this can be purchased from Hive Engine using different user interfaces that are available. I usually get a lot of DM from many people who are new to Hive on how to purchase Hive Engine tokens. Even the older members of Hive are still not clear about what is this second layer and how they can make use of these second-layer tokens.
Some people find it hard to convert their Hive to SWAP.HIVE and some people are hesitant to learn more about the Hive Engine. In both cases, I believe that everyone should learn a little about these second-layer tokens. There have been discussions lately about having second layers for every community we have on Hive. This is just an idea but there are still more discussions required on this. But right now Hive Engine is the second layer and we have our IUC tokens which are our Indian community tokens on Hive Engine.
Use cases of IUC tokens
Before I start explaining how the purchases can be made, I would like to describe the current use cases of IUC tokens. Unfortunately, as we are a small community, we still don't have many use cases for the tokens. We do have a few though:
People holding IUC tokens will get additional votes from the community if their post is manually selected for curation by the community. The votes are not automatic so only if someone is selected by the curation team, they will get this advantage of a 10% extra vote. This is an extra advantage for holding 200 IUC tokens.
IUC tokens are currently used as delegation rewards. Currently, people who are delegating Hive to the Indiaunited community would be able to get the curation reward share in the form of IUC tokens. Earlier it used to be a share from the curation reward the community was earning but now the share is based on a flat 10% in the form of IUC tokens. There is also a possibility to get more than 10% returns if they additionally get votes from the community when manually picked by the curators.
Indiaunited has partnered with the Muterra game and soon there will be a card in the game that can be purchased only with the help of the community token. When people want to have the card, they get the opportunity to buy the token from the market and use them to purchase the NFT from the game. All the NFTs that are purchased by the players would yield a lot of IUC tokens to the game. We have an agreement with the game team that none of those tokens would be burned but they would be held by the game long-term and when the value of IUC increases in the market that is when it would be utilized.
In addition to the above-mentioned use cases, there would be more use cases in the future and also additional rewards for people holding the tokens.
Purchasing IUC tokens from Hive Engine
Currently, Hive Engine is the only place from where purchases can be made. The price of Hive Engine tokens is pegged with 1 IUC = 1 Hive. This is the current price until all the IUC goes out of the community account. There are also buy orders placed frequently by the community to purchase the tokens back to give the holders an opportunity to sell.
Currently, about 86k tokens are still being held by the community account to distribute the curation rewards to the delegators. There are also buy orders available in the market and anyone who frequently gets a vote from Indiaunited can purchase and hold the tokens to get an additional 10% vote during curation.
In order to purchase any Hive Engine tokens, people should first have swapped.HIVE in their account with which they can do the purchase. There are some interfaces available on Hive that would let us swap our Hive for SWAP.HIVE on Hive Engine. The blow link is handy because the swap fees are very low.
Swap Hive
This is the bridge that I usually use to transfer my tokens back and forth. I also have a private service available for doing the swaps. I still have not made it public yet. Once it is available that will also have a swap facility and there would be extra discounts for Kanibot subscribers.
After the SWAP.HIVE is available in the account, the next thing to do would be to purchase IUC tokens from the below link.
https://hive-engine.com/trade/IUC
There is a buy order at 0.98 Hive per IUC token and there is a sell order available at 1 Hive. People who would like to purchase or sell their IUC tokens can visit this place to buy or sell them. If there are further questions about IUC tokens, people can reach out to the Indiaunited discord server and the questions can be clarified there.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
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