After the analysis article of the Multichain Hot Cross project in May, let's review the main points and monitor the project development progress that has been mentioned regularly recently. This section will update the Hot Cross roadmap three months after its release.
One of Hot Cross's main products is Cross-Pool, which allows projects to create staking pools for LP and single tokens. Launched after Hot Cross completed IDO, Cross-Pool quickly attracted the attention of $HOTCROSS holders and Hot Cross partners. One simple reason is that Cross-Pool allows the Hot Cross partners to reward its holders without building their staking pools. A good example is Oddz, whose project token is $ODDZ. By joining Cross Pool, Oddz allows holders to stake tokens, thereby reducing the selling pressure of the project. It is the most excellent utility of Cross-Pool, helping partner projects create demand and utility for their tokens.
Since its launch, Cross TVL has grown very well, usually over $30 million. It is worth mentioning that there is currently a large amount of $HOTCROSS in the Cross-Pool. While a total of almost 100 million $HOTCROSS is in circulation (as of now), more than 62 million $HOTCROSS is regularly staked in Cross-Pool. According to these data, $HOTCROSS has done a great job of creating buying-demand and holding-demand for its users and holders.
https://lh4.googleusercontent.com/2IT9zr52wU4N3XMHmdcXgFy3WmoV9JMQIdNouRjRUxeeLlY_uI1gazPyh1LaqK1T4NUMz7lipxqD-lt9DIR5XfKj78QclPUwkY_wxmbsovP-oCC_Y195HzEFdWQz0CnlV18fsrv1
Currently, Hot Cross has 26 staking pools, of which 16 pools have been completed, and 10 pools are active, especially:
Generally, Cross Pool has proven to be a relatively successful product of the Hot Cross team. Same as other products, the team is still delivering according to its roadmap, especially Cross Mint.
Cross Mint is an NFT generator that can help users quickly create NFTs from JPG, PNG, GIF, and even WAV and MP3 files. Introduced after the launch of Hot Cross IDO more than one month, Cross Mint quickly gained a certain number of users. Cross Mint cooperates with Treasureland NFT, making it easier for users to introduce their generated NFTs to the Treasureland market to create liquidity. However, basically, Cross Mint is not much different from other Minters that currently exist, except that Cross Mint works on multiple chains, including Ethereum, Binance Smart Chain and Polygon. Of course, when there are not many differences, it is a challenge for Cross Mint to affect the number of users, or the only thing that all users care about: the token price.
Although we should not judge a project by its token price, especially one clearly stated in its whitepaper that there is no particular connection between the tokens to the project's development. Let's take a look at how the price of $HOTCROSS has changed in the last three months.
https://thienan2146.github.io/Hotcross/
The IDO price started at $0.05, and now $HOTCROSS is trading around $0.2, still gaining a 400% ROI compared to the IDO price. Note that in the context of the bear market in the last three months, most IDO projects have dumped vigorously with consistent negative ROI across platforms. The fact that $HOTCROSS still provides a positive ROI is somewhat remarkable. Perhaps, it is thanks to Cross Pool continuing to launch $HOTCROSS staking pools, significantly reducing selling pressure.
Per project charts and its tokenomics, if the price around $0.15 does not break, a higher price area of $ HOTCROSS should be considered, primarily at $0.4, $0.6 and $1. If the project promotes more marketing, this is entirely possible.