Burn & Mint Waitlist: Fair and early access to mint HAQQ by burning ISLM

We’re opening early access for the next step in the Haqq ecosystem’s new economic model.

ISLM holders will be able to burn $ISLM and mint $HAQQ, the ecosystem token designed to sit inside the unified value layer where product activity and economic value come together.

To make this launch fair, transparent, and orderly, we’re introducing the Burn & Mint Waitlist.

It’s designed to remove uncertainty, prevent rush dynamics, and give everyone clear visibility into how minting will work, while allowing participants to secure a spot in the queue for minting HAQQ, before Burn and Mint goes live.

→ Join the waitlist here

What is HAQQ?

$HAQQ is the ecosystem token of the Haqq ecosystem, serving economic distribution across the ecosystem. 

It is designed to represent participation in the evolving ecosystem economy, creating a clearer link between what happens in products and what holders experience over time.

$HAQQ is the main instrument inside the unified value layer, the economic structure that connects apps, users, value flows, and infra into one system, so activity reinforces the ecosystem and economic value is coordinated and distributed across participants.

How $HAQQ is minted

$HAQQ is created “only” through the Burn & Mint process.

When ISLM holder chooses to participate:

• ISLM is burned
• HAQQ is minted in return

Over time, ISLM burn cycles and HAQQ minting are systematically coordinated, with value and economic participation converging around HAQQ as the ecosystem’s central economic and value layer.

Burn and Mint Waitlist

We’re introducing Burn and Mint Waitlist, a simple and transparent way to prepare for minting HAQQ, the ecosystem token, by burning ISLM. It’s designed to:

• remove rush dynamics
• provide clear visibility into participation
• ensure fair access from the start

Important: Joining the waitlist does not mint tokens and does not move or lock funds. It simply secures your place in the queue for when HAQQ minting goes live.

Actual minting happens later, when the Burn/Mint Module is activated.

Burn curve

Burn and Mint participation follows a burn curve, where terms adjust gradually as more ISLM is submitted over time.

Waitlist participants secure queue positions before Burn & Mint activation and preserve the HAQQ allocation determined at their entry stage on the curve.

The waitlist interface lets you see how many HAQQ you would receive based on the current stage of the curve before any minting begins.

Joining the waitlist does not commit you to anything. When Burn & Mint goes live, you decide whether to execute or not.

Early access exists to give the community a clear and fair way to participate from the start.

→ Join the waitlist here

How the waitlist works

Public transparency

Before connecting a wallet, anyone can see:

• The total ISLM amount submitted by all participants
• The total number of applications

This gives the community a real-time view of demand and how the minting terms are progressing.

Your dashboard (after connecting your wallet)

Once you connect your wallet, the application shows everything relevant to you:

• The total amount you’ve submitted
• The number of your applications
• A detailed list of your applications, including:
  
  • Submitted amount
  • Source of funds (your own balance or UCDAO)
  • Whether your funds are currently ready (ex: staked vs liquid)
  • The current amount of HAQQ tokens you would receive for your ISLM based on the active curve stage
    

When you submit to the waitlist, the HAQQ amount is calculated based on the curve at that moment. If you later execute your application, you receive that amount.

As more ISLM is submitted and the curve progresses, new submissions reflect the updated stage, but earlier submissions are not affected.

All figures are shown transparently, so you can clearly see the expected outcome before deciding whether to mint.

Submitting an application is safe and guided

When applications are open, you can submit one directly in the interface.

The application:

• Shows your available balances
• Prevents submitting more ISLM than you have
• Verifies availability automatically

You can’t make a mistake, the system simply won’t allow it.

Full Control: Cancel When Needed

You stay in control of your applications.

As long as cancellation is allowed (before Burn & Mint is activated), you can:

• Cancel any of your applications
• Do so even after the submission period ends

Cancelled applications are permanently excluded and no longer affect the allocation variable.

Once Burn & Mint goes live, applications can no longer be cancelled. However, you can still choose not to execute an application if you decide not to proceed.

If your ISLM isn’t ready yet

Some ISLM may be temporarily unavailable, for example, if it’s staked. In that case:

• The application clearly marks your application as not ready
• You’ll see a direct link to staking with a clear action: “Start undelegation”

What happens when Burn & Mint goes live

Once the Burn & Mint module is activated:

• You can execute your applications yourself
• Free minting becomes available for everyone

All ISLM used in minting is permanently burned.

Why the waitlist exists

This approach ensures:

• Equal access for all participants
• No rush dynamics
• Clear pricing expectations
• Transparent participation tracking from start to finish
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FAQ

1. What is the waitlist?

The waitlist reserves your burn slot.

Process:

1️⃣ Join the waitlist
2️⃣ Choose amount of ISLM to burn
3️⃣ See the expected HAQQ amount
4️⃣ Reserve your slot

Later, after governance execution:

5️⃣ You press Execute Transaction
6️⃣ ISLM burns → HAQQ minted

Important:

If someone reserves a slot but does not execute, no one else can take that slot.

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2. Is the burn rate 1:1?

No.

The system uses a curve.

That means:

• Early participants receive more HAQQ per ISLM
  
  
• Later participants receive less HAQQ per ISLM
  
  

The exact curve will be published separately.

3. Are we converting ISLM to HAQQ?

No.

There is no 1:1 conversion and no token swap

Instead, the mechanism is:

Burn ISLM → Mint HAQQ

When you burn ISLM, the protocol mints HAQQ tokens.

However, the rate is not fixed, there is a curve

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4. What happens to ISLM after burning?

Burned ISLM is permanently removed from circulation.

However, ISLM itself as a cryptocurrency:

• It will continue to exist
  
  
• It will still trade on exchanges
  
  
• It will remain the native currency of Haqq Network (the L1 blockchain)
  
  

So ISLM is not being discontinued. 

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5. Will ISLM disappear in the future?

No.

Both tokens will coexist.

ISLM: Native currency of the Haqq Network (Layer-1 blockchain)

HAQQ: Ecosystem token for economic coordination and distribution

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6. What is the purpose of the HAQQ token?

HAQQ will be the central ecosystem token.

It will be used for economic value coordination and distribution. It’s the key instrument inside the unified value layer, representing participation in the evolving ecosystem economy, creating a clearer link between what happens in products and what holders experience over time

The exact mechanisms will be conveyed later on.

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7. Why create HAQQ if ISLM already exists?

ISLM is a core part of the Haqq ecosystem, remains as the native gas and governance token of the Haqq Network and a key mechanism supporting Evergreen DAO initiatives.

ISLM was designed to secure and operate the Haqq Network, not to represent the economic activity of a growing multi-application ecosystem or to sit at the center of product-level value flows.

As the ecosystem expands, a new layer is needed to connect product activity, user participation, and economic distribution. The new ecosystem token ($HAQQ) serves this role, linking product usage with ecosystem value flows.

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8. What happens to my staked ISLM?

They will continue to exist and can be unstaked whenever you want.

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9. Can I burn ISLM multiple times?

Yes.

Users can burn ISLM and mint HAQQ multiple times.

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10. Can I cancel?

Yes.

If you join the waitlist but do not execute the transaction, nothing happens.

Your ISLM stays unchanged.

11. Will HAQQ be tradable on exchanges?

Not immediately.

Initially:

• HAQQ is minted through the burn mechanism.

Later:

• The team plans to list HAQQ on DEXs and CEXs.
  
  

12. What determines the price of HAQQ?

Currently there is no market price.

Once listed on exchanges, price will be determined by supply and demand.

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13. Will burning ISLM increase its price?

It is impossible to predict.

Price depends on many factors:

• market demand
• trading activity
• ecosystem adoption
• supply dynamics

Burning reduces supply, but market behavior is unpredictable.

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14. Is there a minimum amount of ISLM to burn?

No, there is no minimum amount of ISLM you must burn and participation is voluntary. How much you choose to burn, if at all, is entirely up to you.

When ISLM is burned, HAQQ is minted in return. The process follows a burn curve: earlier participation receives more favorable terms, and the curve gradually adjusts as more ISLM supply is burned. 

The amount of HAQQ that can be minted through this process is limited, meaning the transition is bounded by design. As supply is gradually created and allocated, later participation occurs under different conditions than early participation.

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15. Is participation mandatory?

No.

Participation is completely voluntary.

Users choose whether to burn ISLM or keep it.

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16. Where will the minted HAQQ tokens appear?

After executing the transaction:

• HAQQ tokens will appear in the same wallet used for the burn.
  
  

17. What is long-term architecture?

The ecosystem will have two tokens with different roles.

ISLM

• native L1 currency
• network gas
• validator economics
• blockchain infrastructure

HAQQ

• ecosystem participation token
• economic activity coordination and distribution 
• ecosystem applications

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→ Join the waitlist to participate early

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