The Web3 music social application Hibiki Run community has decided to temporarily transfer the governance rights of the HBK token to HUT

ChainCatcher news, Hibiki Run has recently passed the proposal HIP-1 to strengthen project governance and improve the HUT token economy. The proposal aims to address the governance challenges faced by the Hibiki Run community and optimize HUT performance. Hibiki Run has designed a dual-token mechanism, consisting of the utility token HUT and the governance token HBK. However, the HBK token was initially conceived as a governance token and has not been put on-chain, currently serving only as a credit, which limits its governance utility, and the community currently lacks robust governance tools. The HUT token, on the other hand, is already on-chain and transferable. This proposal will temporarily transfer governance rights from HBK to HUT.

According to the crypto data platform RootData, Hibiki Run is a music-driven gamified interactive world built for creators and collectors. It completed a million-dollar seed round financing in July this year, with participating institutions and individual investors including Synergis Capital, NEAR Foundation, BitMart, TKX Capital, String Capital, Gravity Venture Capital, Yi Lu (co-founder of Weibo), AAG Ventures, FutureMoney Group, and others.