Grazing Range Pool #44— Welcoming HIGH to the herd!
Dear alpacas,
We senior alpacas are excited to welcome our newest addition to the range — Highstreet.
With this partnership, all you alpacas will be able to open leveraged yield farming positions up to 2x on PancakeSwap’s HIGH-BUSD pair, which currently yields ~90% APR in CAKE Rewards! The pool will go live on January 13th, 2022 at 10 AM GMT.
As part of the Grazing Range program, you’ll also be able to earn $218k USD in HIGH rewards by staking ALPACA in the governance vault, which will be distributed over 8 weeks.
Leveraged yield farmers in the HIGH-BUSD pool will also receive bonus ALPACA rewards, on top of the leveraged yield farming rewards and trading fees.
🎁Grazing Range Reward Details
Total Rewards: 23,437.5 HIGH (~$218k USD)
HIGH Token: 0x5f4bde007dc06b867f86ebfe4802e34a1ffeed63
Rewards Period: 8 weeks
Rewards Start Date: Jan13th, 2022
Rewards End Date: Mar 10th, 2022
Distribution Schedule:
Exclusive NFT Cards for Pool’s Stakers
To be eligible, you must stake ALPACA in the governance vault for any 4 consecutive weeks during the Grazing Range period. The snapshot of xALPACA balance is taken every Thursday of each week, so make sure you have a sufficient xALPACA balance before the snapshot is taken (i.e., 23.59 UTC on Wednesday). The NFT tier you receive will be based on the amount of your xALPACA balance during that entire period. (Since xALPACA balance naturally decreases over time, make sure to watch yours)
- Green Tier: held at least 500 xALPACA
- Silver Tier: held at least 5,000 xALPACA
- Gold Tier: held at least 50,000 xALPACA
About Highstreet
Highstreet is a decentralized Metaverse built on an MMORPG game where brands, both traditional and crypto, can use our Merchant Portal to seamlessly integrate and build their presence in Highstreet World. From day one, Highstreet strives for interoperability and already has participation from major thought leaders, including exchanges like Binance, chains like Avalanche, and funds like Republic and Animoca.
The game starts off like most popular MMOs with a tutorial island where new players, called Freshmints in Highstreet World, can learn all the necessary skills to survive in the Metaverse. As players crossover from the real world, they’ll quickly find themselves making acquaintances of a native race of giant yellow ducks. These FOMO Ducks are an explorer’s best friends. They act as shopkeepers and quest guides, especially through the first couple of regions near and on the continent of Solera.
Highstreet World employs a two token system, $HIGH is used to buy limited edition products on their marketplace, as well as both Commercial and Residential real estate in Highstreet World. $HIGH is also needed to participate in special events within the metaverse from concerts to PFP Club events. A second token, $STREET, also known as Street Cred in Highstreet World, will be deployed in-game shortly after the launch of their Open Alpha. $STREET will be used for day-to-day in-game purchases, from food and drink items (HP & MP) to in-game physical Gear. While $HIGH is capped at 100M supply and will have a deflationary mechanism, $STREET is inflationary with no cap and will scale as more and more players enter the Metaverse.
🔒Security Scorecard on HIGH
Have the contracts been audited by professional auditing firms?
Yes, we have been audited by Certik, Paladin, and Halborn. We take this very seriously and use 3 firms including monthly penetration testing. For more details, please check out the links below:
- Certik
- Paladin
- Halborn (Staking, NFT Staking, Product Token)
What is the project’s inception date?
Highstreet was officially launched on 1 Feb 2021.
Has your project even been involved with a hack or exploit?
No, we have never been involved with a hack or exploit.
What safety measures are in place to secure your protocols from centralization risk? What contracts are not under timelock? Who has multi-sig?
There are 5 multi-sig accounts, all with anonymous titles. There is a combination of soft and hard keys for each. Investor deployment is done via smart contract unlocks.
Does your token have a maximum supply cap?
The maximum supply for HIGH is 100,000,000 tokens.
Mint function. If Token does not have maximum supply, how is the mint function controlled?
We do not have a mint function for our token.
Centralized treasury. If the protocol collects fees, where do they go and how are they controlled? Is there any kind of treasury or insurance fund under centralized control?
We have a Gnosis safe for our treasury. It is under multi-sig with a combination of cold and hot wallets.
Migration Function. Is there a migration function in the code? Why is this there and how to control this function from making a malicious action
There is no migration function for our contract.
Upgradeable contracts. Are the contracts upgradeable? Why is this there and how to control this function from making a malicious action?
The marketplace has upgradable contracts in order for us to change the steepness of bonding curves. This has been excessively audited by 3 firms.
Third-party risk. What underlying external parties do your contracts rely on?
We do not rely on third parties.
Where are tokens currently listed?
We are listed on the following DEXes: Uniswap and Pancakeswap.
And for CEXes, we are listed on Binance, Gate.io, BitMart, Crypto.com.
Please briefly describe the utility of your tokens and all the relevant tokenomics (e.g., burn, staking, locking, etc.)
HIGH tokens can be used to purchase real estate in Highstreet World, as well as products on Highstreet Market. Besides that, HIGH tokens can also be staked in our Pool2 staking site, where 80% of 5 million HIGH rewards is distributed to liquidity providers on Uniswap. The remaining 20% is distributed to HIGH stakers.
Does your token have any advanced mechanics such as deflationary/rebase/reflexive?
There is no advanced mechanics such as deflationary/rebase/reflexive for HIGH token.
Please share your project’s roadmap
You can find our roadmap below:
Q4 2021
- Highstreet Staking goes Live
- Highstreet Christmas Alpha Teaser
- Highstreet Private Alpha round 2
- Highstreet Commercial Land Sale
Q1 2022
- Highstreet NFT Drop with Jonathan Koon
- Highstreet Initial Home Offering (IHO)
- Highstreet World Open Public Alpha
Q2 2022
- Highstreet Mobile Companion App Initial User Testing
- First Wave of Partnership Content Integration
What % of the token supply is/will be controlled by the team
10% of the supply is controlled by the team.
What % of the token supply is controlled by investors? What is the token distribution model?
30% of the supply is controlled by the investors. You can find more details on the tokenomics here.
Please share the profile of key team members
Travis Wu (Chief Executive Officer) — you can see more details in the LinkedIn profile here.
Flora Fang (Chief Operating Officer) — you can see more details in the LinkedIn profile here.
Jenny Gua (Chief Creative Officer) — you can see more details in the LinkedIn profile here.
What monitoring or controls do you have in place that could catch issues, halt functions, or delay attacks to protect assets?
We use Halborn for security as a service.
Do you have a bug bounty program in place/planned?
No, we do not have a bug bounty program at the moment.
Safety practices. Is there someone dedicated to security on the team? Does your git include your test/QA scripts? Describe your current IS/QA processes? Will you commit to auditing your code at least quarterly/semi-annually/annually and for major updates and releases?
Yes, we have a security person on the team. All our smart contracts go through multiple rounds of audits. Halborn conducts monthly audits as part of their security as a service offer as well.
