TI Rating Report: HIBS
hiblocks is a blockchain-based social media project launched in January 2019 and deployed on Klaytn. HABL is the major social platform developed by the project, where users could earn rewards by interacting with each other. It integrates blockchain technology to increase transparency in social media's payment and reward distribution process while enabling content consumers to generate revenue.
HABL attempts to amend the shortcomings of existing social media platforms by creating a virtuous cycle between platform providers, content providers, and content consumers. In this cycle, platform providers create an environment where users can focus on interacting on the platform; content providers create and share more quality content; content consumers promote quality content consumption through curation.
$HIBS is the native token of the hiblocks ecosystem that can be used for staking, payment, governance, incentive, etc. It's now mainly used as a payment method within the HIBS ecosystem, including applications other than HABL that were developed by hiblocks, such as Produckfi.
TokenInsight gives hiblocks a rating of CCC, with a stable outlook.