# $HOPE Basics

$HOPE is the fundamental pricing token of HOPE Ecosystem, designed to become a distributed stablecoin backed by crypto-native reserves. These reserves will be managed through HOPE Gömböc (Reserve Pools), which will bootstrap the pricing of $HOPE and ensure its stability.

{% hint style="info" %}
[*HOPE Gömböc*](/hope-token/hope-gomboc.md) *is a set of distributed reserve pools, initially consisting of BTC and ETH with an initial fixed ratio of 1:10.*
{% endhint %}

## What is the purpose of $HOPE ? <a href="#what-is-the-purpose-of-hope" id="what-is-the-purpose-of-hope"></a>

The main purpose of $HOPE is to offer next-generation financial protocols, accessible to anyone with an internet connection by a crypto native setup.

## How to get $HOPE ? <a href="#how-to-get-hope" id="how-to-get-hope"></a>

$HOPE will first be open to institutions to mint with BTC and ETH peg, and provide the ecosystem with liquidity. A price discovery process is taking place, allowing us to discover the ratio between $HOPE and BTC/ETH reserves. Once the ratio is finalized, the public will be able to get $HOPE via [HopeSwap](/protocols/hopeswap.md).

You can get $HOPE at <https://app.hope.money/#/swap/exchange>

## How $HOPE works ? <a href="#how-hope-works" id="how-hope-works"></a>

$HOPE is minted and burned by the smart contracts on demand through a specific [pricing mechanism](/hope-token/hope-pricing-mechanism.md).

$HOPE is on a [multi-phase growth plan](/hope-token/development-phases-of-hope.md) to achieve peg in the next halving cycle, with its market value gradually achieving $1.00 (reaching 100% of face value, the "Peg Event") as the cryptocurrency market recovers.

## What is the utility of $HOPE ? <a href="#what-is-the-utility-of-hope" id="what-is-the-utility-of-hope"></a>

By staking $HOPE, user will receive $stHOPE as proof of staking, and by holding $stHOPE they will accumulate [$LT](/lt-light-token/understanding-lt.md) rewards as a staking incentive during the rewarding period - longer stake yields higher rewards.

You can staking your $HOPE at <https://app.hope.money/#/hope/staking>

{% content-ref url="/pages/F8DyjyG8owQUjvvCy9o1" %}
[Stake & Earn with $HOPE](/hope-token/stake-and-earn-with-hope.md)
{% endcontent-ref %}


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