Independent explainer · Asset-backed mutual credit
HoloFuel: money created by something real — computing power.
HoloFuel is peer-to-peer money for the Holo hosting network. Nobody mines it. Hosts earn it by providing real computing capacity, and HOT holders can now swap into it at 1:1.
Mainnet live since 1 Nov 2026netzero.zone ↗Bridge tracker ↗
01What it is
What is HoloFuel?
HoloFuel (HF) is an asset-backed mutual-credit currency. It pays hosts on the Holo network for the compute, bandwidth and storage they provide, and it's backed by that hosting capacity instead of scarcity or speculation. HoloFuel is built by Unyt on Holochain's agent-centric framework and moves directly between peers. No bank issues it, no exchange holds it, and your balance sits under your own keys. Since 1 November 2026 the HoloFuel Network has been operated by Net Zero FZC through the Unyt app.
-
A
Backed by capacity
Every credit is matched by a promise tied to real hosting capacity: RAM, CPU, bandwidth and storage that someone actually offers.
-
B
Created by hosts, not miners
Nobody earns units by burning electricity. Hosts earn them by being paid for capacity, and HOT holders can swap into them.
-
C
Net supply: zero
Every positive balance has a matching negative one. The active supply grows and shrinks with real hosting activity.
Not mined. Not printed. Earned by hosting.
02Mutual credit
Every credit is born with a matching debit.
HoloFuel doesn't mint a pile of tokens separately from the obligations behind them. Every payment writes two entries at once: a positive balance for one party and a negative balance of the same size for another.
Add every balance across the network and you always get zero. That's the core rule of mutual credit. It's also why HoloFuel has no maximum supply and doesn't need one.
| Host | +0.85 HF |
|---|---|
| Network capacity account | −0.85 HF |
| Network-wide net balance | 0.00 HF |
Look at the colours on this page. Violet is what's owed and mint is what's earned. The HoloFuel gradient runs between the two and passes through zero.
- Transactions
- 0
- Volume
- 0.00
- Gas fees
- 0.00
Tap to settle one job, then press and hold the second button to stream 0.01 HF payments. No fee eats into them, and the net balance stays at zero.
Negative balances are credit lines.
A negative HoloFuel balance is intentional. In the design, how far you can go below zero depends on your track record of delivering hosting, not on collateral or wealth.
- Reliable hosting history
- Proven ability to repay through future hosting
- A larger credit line
If a host stops providing capacity, their negative balance doesn't vanish. It stays on the books as an obligation. The model relies on reputation and peer validation instead of collateral.
This isn't switched on yet. At launch, user and host accounts have no credit limit, so they can't go below zero. The only credit, about 177 billion units, is shared evenly by the two infrastructure providers, Holo and Net Zero. Host limits may later follow an earnings-based formula (current parameters).
A picture of the principle, not the protocol's formula. Host credit limits are zero at launch.
03Hosting
Hosts set their own price.
On Holo, anyone with spare capacity can host apps and get paid for it. You decide what your RAM, CPU, bandwidth and storage are worth, because the protocol doesn't fix a price. HoloFuel moves when a hosting job is actually paid, and HoloFuel earned this way is the only kind that can go back to HOT.
8 GB RAM4 vCPU100 Mbps250 GB SSDExample average: 10.00 HF/hour
This is an illustration. The reference price scales the public example (10.00 HF/hour for 8 GB RAM, 4 vCPU, 100 Mbps and 250 GB SSD) by capacity. Real prices depend on the hardware and on what buyers pay.
04Value-stable design
Anchored to the cost of hosting, not to hype.
HoloFuel is designed to be value-stable, not speculative. Its anchor is something real: what a unit of hosting costs. Holo's original 2018 economic model split that cost into two moving parts.
In that model, the three prices are linked. When adoption grows and HoloFuel's price rises, each HF buys more hosting, so the internal price falls. The hosting price, which is what users actually pay, stays level.
- Competition between hosts increases HoloFuel's purchasing power.
- The supply and velocity of HoloFuel reduce internal price competition.
- A reserve price acts as a floor or ceiling, and as a price signal to markets.
Index values from a 2018 model, shown for understanding. This is not a price forecast. HoloFuel has no established market, and its operator makes no claim that it has any particular value.
05HoloFuel vs Bitcoin
Scarcity money vs capacity money.
Bitcoin-style tokens get their value mostly from being scarce. HoloFuel gets its value from being tied to work somebody actually did. Here's how the two compare, question by question.
| Question | HoloFuel | Bitcoin |
|---|---|---|
| Where does a unit come from? | Created as mutual credit, then earned by hosts or swapped from HOT | Mined according to protocol rules |
| What backs it? | A matched obligation tied to hosting | Market belief and scarcity |
| Supply | Expands and contracts with real activity; no maximum | Fixed or scripted by the protocol |
| Network-wide balance | Always nets to zero | Units accumulate with no matching liability |
| Zero-sum? | Positive-sum: value comes from hosting work | Gains largely depend on the next buyer |
| Who earns it? | Hosts contributing RAM, CPU, bandwidth and storage | Miners and validators with existing hardware and capital |
| Who sets the price? | Each host, for their own capacity | The exchange market |
| Link to a real good? | Anchored to the cost of hosting | No inherent link to a good or service |
| Transaction fees | Designed without traditional gas fees, so tiny payments work | Network fees paid to miners |
06Built on Holochain
No bank. No exchange. No middleman.
HoloFuel is what its makers call crypto-accounting, but it isn't a conventional blockchain. It runs on Holochain, an agent-centric framework. Every participant keeps their own local chain, and random peers validate each transaction. There's no global ledger for anyone to mine or control.
That design is what makes fee-free micro-payments possible. Nobody has to win a race to write a block, so nobody needs to be paid to do it.
Payments between members run peer to peer, with no operator in the middle. Getting in does have a gate: Net Zero requires identity verification and can decline or suspend accounts.
Each dot is an agent with its own chain. When two agents transact, both chains grow and a few random peers check the entry. Tap an agent to make it pay another.
07Status
Is HoloFuel live?
Yes.
The HoloFuel mainnet went live on 1 November 2026. The HoloFuel Network runs inside the Unyt app, and HOT holders can start swapping. Holo has announced it here. HoloFuel pays for hosting, for services in the Decent Directory, and anyone else with a HoloFuel account.
It's early. Net Zero FZC operates the network under a Zanzibar Digital Free Zone licence that is provisional and valid for 90 days from launch unless renewed. Check its operating parameters for the current status.
08HOT → HoloFuel
One HOT becomes one HoloFuel.
- HOT
- An ERC-20 token on Ethereum, sold in 2018 as a pre-sale claim on future Holo hosting capacity. It still trades on third-party exchanges.
- HoloFuel
- The mutual-credit currency meant to settle real hosting transactions. It's a utility currency, not a trading asset.
Swap open since 1 November 2026
The window stays open for at least six months, with 60 days' notice before it closes or the ratio changes. Ethereum gas is on you, and HOT on Base, Arbitrum or other L2s isn't supported.
How the swap works
- Join. Install the Unyt app and verify your identity. You must be 18 or over and not subject to sanctions.
- Bridge in. Transfer In locks your HOT on Ethereum and records the same amount of mirrored HOT in Unyt. It's still HOT, it isn't burned, and you can bridge it back out.
- Swap. Exchange mirrored HOT for HoloFuel at 1:1. This is the step you can't undo.
HOT pre-sale. HOT is sold as an ERC-20 claim on future hosting capacity.
Migration test. A large-scale test runs on the Sepolia testnet with mock HOT.
Holo Ventures formed, led by Cameron Burgess.
Mainnet live. The HoloFuel Network and the 1 HOT → 1 HoloFuel swap open.
Provisional licence runs 90 days. The swap window runs at least six months.
09FAQ
Questions, answered.
What is HoloFuel?
HoloFuel is an asset-backed mutual-credit currency that pays hosts on the Holo network for the compute, bandwidth and storage they provide. It is backed by real hosting capacity rather than scarcity or speculation.
Is HoloFuel a cryptocurrency or a blockchain?
It is crypto-accounting, but not a conventional blockchain. HoloFuel runs on Holochain, an agent-centric framework where each participant keeps their own local chain and transactions are validated peer to peer.
Who creates HoloFuel?
Not miners. Units are created when an account spends below zero within its credit limit. At launch only the two infrastructure providers, Holo and Net Zero, hold credit. Everyone else gets HoloFuel by earning it for services or by swapping HOT.
Does HoloFuel have a maximum supply?
No. Every positive balance is matched by a negative one, so the network-wide net supply is always zero. The active supply expands and contracts with hosting activity.
Is HoloFuel price-stable?
It is designed to be value-stable rather than speculative, with the cost of real hosting acting as its economic anchor. Value-stable is a design goal, not a guarantee. HoloFuel has no established market, and Net Zero makes no claim that it has any particular value.
Can I trade HoloFuel like Bitcoin?
No. HoloFuel is a utility currency for paying for hosting and services, not a trading asset, and Net Zero does not support exchange listings. You can send it to other HoloFuel account holders. HOT, the ERC-20 token from 2018, still trades on third-party exchanges.
What is the difference between HOT and HoloFuel?
HOT is an ERC-20 token on Ethereum, sold in 2018 as a pre-sale claim on future hosting capacity. HoloFuel is the mutual-credit currency that settles hosting and service payments in the HoloFuel Network. HOT swaps for HoloFuel at 1:1, with no swap fee, during the swap window.
When does the HOT to HoloFuel migration start?
It started on 1 November 2026. The swap window stays open for at least six months, and Net Zero must give 60 days of notice before closing it or changing the ratio.
How do I swap HOT for HoloFuel?
Install the Unyt app, verify your identity, bridge your HOT in from Ethereum, then swap the mirrored HOT for HoloFuel. Follow the official guide on netzero.zone.
Can I reverse a swap?
No. A completed swap cannot be reversed, and only HoloFuel earned by providing services can go back to HOT. Bridging is a separate step: HOT you have bridged in but not swapped can be bridged back out to Ethereum.
Why can a HoloFuel balance be negative?
Negative balances are credit lines. In the design, how far a host can go below zero is based on their track record of delivering hosting, not on collateral or wealth. At launch, user and host accounts have no credit limit, so their balances can't go negative.
What happens if a host doesn't deliver?
In the design, their negative balance remains an obligation, and the model relies on reputation and peer validation rather than collateral. This doesn't apply yet, because host credit limits are zero at launch.
Is HoloFuel live today?
Yes. The HoloFuel mainnet, called the HoloFuel Network, went live on 1 November 2026 inside the Unyt app, operated by Net Zero FZC under a provisional 90-day licence.
Can I cash out HoloFuel for dollars or euros?
Not officially. Net Zero cannot redeem HoloFuel for currency or for any asset except HOT, and there is no established market for it. Only HoloFuel earned by providing services can be swapped back to HOT. Holo Limited does not operate token exchange services.
Is Holofuel.best an official Holo website?
No. Holofuel.best is an independent, community-made explainer. It is not affiliated with Holo, Holochain, Unyt or Net Zero, and nothing on it is financial advice.