Projects on smart contracts: what features have honest HYIPs and how to work with them?
HYIP industry does not stand still and pleases with its development. During our work with projects, we have met a variety of updates and trends, but now the sphere of HYIP has been embraced by a new fashion that can easily change the face of high-yield investments. HYIPs on smart contracts have become a real know-how and have boldly captured the attention of investors - is their global future waiting and are these honest projects really?
What is a smart contract?
Not so long ago, in one of the blog articles, we told you about HYIP industry trends and noted that projects starting to work on smart contracts are beginning to gain popularity. This trend was not at all fleeting and today we can observe an active growth in the number of such funds. But before succumbing to fashion and starting to invest in such technology-based projects, it is necessary to properly understand what a smart HYIP is.
Smart contract - this is not at all some trick, invented by admins to attract more contributions. The idea of this technology originated in 90-x and was implemented only with the emergence of the blockchain. In fact, a smart contract is a computer algorithm that is prescribed in order to secure any transaction without intermediaries. A smart contract written in the code will work according to a given scheme and absolutely no one can change it or violate the conditions.
Not surprisingly, blockchain and smart contracts are now actively being introduced into the most diverse branches of human activity. Thanks to them, you can create a secure system that completely eliminates the human factor. For HYIPs, this feature of smart contracts has become very relevant.
Why HYIP blockchain technology?
One of the main problems of the HYIP industry in scam administrators who are not configured to work. Unfortunately, the investor is dependent on government and can only hope for good luck. Such a situation did not please many investors, but there was no way out of it - without the admin, no project could exist. With the advent of the industry Block-technology has changed and now HYIP without an administrator has become a reality.
Just imagine: a project that works on a smart contract exists completely autonomously and is not controlled by the admin. Yes, there is a person who wrote this code, thought over marketing and will conduct the promotion of the fund, but he can’t influence his work, much less pick up the cashier and hide in an unknown direction. Thus, a smart contract enables the HYIP to be completely honest and work until the completion of funds in the account.
Features of HYIP on a smart contract
The project on a smart contract with a traditional HYIP has little in common. This is a fundamentally new product that is devoid of many of the shortcomings of its predecessor and is endowed with a host of advantages. There are many features of such an innovative HYIP, and they are not quite familiar to avid HYIP investors:
- Work is carried out exclusively on a smart contract and almost 99% of projects do not have a personal account. It is simply not necessary, since both the deposit and the withdrawal of funds are conducted through the investor’s wallet. In some projects there is a small functionality that allows you to view investor statistics at his wallet.
- Investment takes only on airthat scares away some Fiat lovers. At its core, a smart contract based on the Ethereum blockchain cannot accept any other means other than the currency of the platform, so it is out of the question to invest in dollars. By and large, this can be considered a minus, because not every investor operates with a crypt and there will always be those who will be faithful to fiat bills.
- As a rule, the whole investment fund distributed. In the contract, the admins prescribe the conditions under which about 80% -90% is intended for payment to the participants, as well as an advertising fund and a reward for the administrator. This is a very important point and we strongly advise against entering projects that do not distribute funds and are ready to put all 100% into payments to investors. The project needs to develop and attract new participants, and the admin should be interested in having as many participants as possible join the HYIP. What else can stimulate his interest if not a percentage of the cash register?
- The project on the smart contract will work as long as there is money on the wallet. This means that even theoretically, an investor can calculate whether he will be able to make a profit if he has funds in his wallet. There can be no scenario in which someone will suddenly pick up and steal money in an honest hype.
- All the system is completely transparent and anyone can check the code, which should be in the public domain. In addition, like all wallets in the Ethereum system, the project’s wallet can be viewed at Etherscan. On the one hand, it is an opportunity to follow the cashier’s fullness, and on the other hand, it is a significant minus, because the inflow differs on different days and a small decline in deposits can cause a real panic among investors.
- One of the indisputable advantages of HYIP on a smart contract is that it It is interesting not only to the hyipers, but also to people from the cryptoindustry. If the traditional pyramid pushed this audience away, then the opportunity to earn cryptocurrency on blockchain technologies for them looks attractive.
- The main disadvantage of a smart contract is that the project cannot develop. Of course, the admin can write a more complicated contract and somehow plan future increases in interest rates or affiliate programs, but such a hype will not develop, for example, in the form of additional payment systems. And if the contract has already been written and no upgrades are not thought out in advance, then “on the go” the admin can no longer add and finish anything - the smart contract cannot be changed.
Smart Contract Audit
All of the above is valid only ideally, that is, if the HYIP is really honest. But how to make sure of it? Since the HYIP code on the smart contract is open (and if it is closed, then such a project should be avoided), then anyone can check it.
Far from all investors understand the code, so the portal Profit-hunters.biz takes on the function of verifying a smart contract. We will conduct a professional and independent audit, so that each of our partners is confident that it invests on fair terms.
How to work with a project on a smart contract?
Here we come to the most important thing - how to work with projects on smart contracts? Since the project is very different from the classic HYIP, then do not be surprised that the specifics of the work are rather non-standard:
- Investments are made only on air. You can deposit funds from any wallet from which you have private keys - this should be your wallet, not the exchange or exchanger wallet.
- When creating a deposit, the investor himself sets a commission for sending coins. It is recommended to install it at the level of 250000-300000 gas.
- Profit withdrawal can be manual or automatic. If the smart contract does not pay itself, then the participant must submit a request in the form of a zero transaction to the contract address - you just need to send 0 ETH.
- You can only withdraw to the wallet from which you invested, which is why it is so important that this is your personal wallet.
- Affiliate program is not in all projects. In order for a participant to be considered your referral, he must indicate your wallet in the additional field when sending a deposit (“Date"). This will allow you to receive a reward and cashback for him.
- Before you deposit funds, view wallet statistics at Etherscan Is the flow of investment really going? Also make sure that the project was audited, which confirmed that there are no errors, holes and tricks in its code.
Smart contracts in HYIPs have become a big step forward that could change the entire industry. At the same time, it is not yet possible to say for sure whether such projects will work in practice. Yes, there is great interest in smart contracts now, but it is not a fact that this trend will last long. Will the participants actively invest in the crypt, will such HYIPs be able to compete with the classic ones, and most importantly, will the amines have enough experience and literacy to skillfully promote their projects? All these are questions to which there are no answers yet, and all the dots above "i»Only arrange time.18 October, 2018