Boca Chica — New Paradigm
Boca Chica has grown tremendously from a simple, unilateral launchpad platform that focused exclusively on growing the Solana-based ecosystem to a prolific player and crucial gear in the central infrastructure of blockchain. We have grand plans of expanding far beyond the current confines and for that to be viable it is necessary to separate Boca Chica from the HAPI’s influence both in terms of the development dependency and establishing a wholly novel vertical of growth.
What does it mean for Boca Chica as an entirely different entity and what can be expected in the near future?
- First and foremost, the technical development of Boca Chica will be assigned to a different team unrelated to the core HAPI.
- A swifter and less fragmented development of Boca Chica as an independent platform that still is under the control of the HAPI Team.
- Complete overhaul and revamp of the currently embedded system of sale conduct.
- Continuous expansion to other blockchains such as Terra, Cosmos, and more!
- DAO system that decides on vital aspects of Boca Chica and possesses exclusive perks such as personal allocation in sales, and incubation proposals (which project to incubate on the platform).
- CHICA Token that acts as a governance ticket, secures unique allocation on one of the rounds and plays a pivotal role in incentivization.
Now we shall take a closer look at each new aspect.
DAO — The Most Comprehensive Change
DAO resides at the heart of the refitted Boca Chica structure. It’s not just a way for us to offload the decision-making part to the community as it is traditionally done. Instead, we rewire the whole circuitry of Boca Chica to operate CONGRUENTLY with DAO, and endow the community with essential voting and involvement opportunities. So what are the hallmarks of Boca Chica DAO?
- There are 21 seats available for DAO members
- Each DAO member has a SECURED allocation of 5% in each project
- 11 DAO Members rotate based on the CHICA token stake. Meaning the first 11 members that staked the most are chosen each month.
- To get placed in the other 10 seats of the DAO committee, unique, tradable NFT cards are issued. These are limited to only 10 cards and one DAO NFT card serves as a verification of a ONE DAO seat. NFT Cards will be auctioned on the NEAR-based NFT Marketplace in the next few weeks. By selling your card, the place is automatically transferred to the other person.
- Members of DAO are able to vote for projects to be incubated in Boca Chica.
Guilds and Their Role on Boca Chica
Guilds are community groups that facilitate the organic and amiable growth of the platform. We strive to implement Guilds as a way to add both competitive and cooperative stimulus and gamefy the idea as a whole.
Guild leaders will be granted a lot of perks including taking a seat in the DAO committee. Guild members will have a unique round specifically reserved for Guild-elected members.
More on the role of Guilds in Boca Chica will be elaborated on in the separate article.
CHICA Token Utility
The main distinguishing point of Boca Chica has always been a token-less structure that allowed everyone to participate in the sale without inventing unnecessary trickery around the design. We are leaving this aspect INTACT, Boca Chica will follow the same stead and won’t be deviating from its laid-out path. So what are the utilities of a CHICA token then?
- As mentioned before, DAO will be nestled at the heart of Boca Chica, as such CHICA tokens will be pivotal in enabling DAO to operate in an economy-driven, incentivized way.
- Incubation Requests will not only be reviewed by the internal team but also DAO will vote on the eligibility of a project and whether there is a value in incubating it. Additionally, each request for incubation will impose fees in CHICA tokens
- Exclusive CHICA Round that will guarantee an allocation.
- We will be introducing a new claiming mechanic and related interface that will allow us to claim acquired tokens in an easy and simple way. CHICA Tokens will play a major role in that.
- Incentivized Pools for projects that have gone through incubation on Boca Chica through an array of DEXes on various, implemented blockchains.
NFTs and the Role They Will Play On Boca Chica
The traditional utility of NFTs is always a bit unilateral and limited to either speculation on the price or implementations for the sake of keeping up with trends. We have devised a pretty straightforward yet unique case for NFTs as tickets that will guarantee a certain allocation or even become the full pass for all sales. They are tradable and can be auctioned or just simply sent out.
In total there will be 10 High-Tier NFTs that will act as life-pass clearance for all the upcoming sale with guaranteed allocation.
There also will be around 250 NFTs that will either give a single-entry to a particular sale or a slew of other exciting perks.
The NFTs will be auctioned off directly through Boca Chica.
CHICA Token Sale and How It Will Go
CHICA Token will only be sold with HAPI tokens as a token (pun intended) of appreciation to the HAPI community. The total amount sold will equate to 100,000 HAPI Tokens or approximately 3,000,000 worth in USD. The sale itself will be partitioned into three sale rounds:
- The first Sale Round’s allocation is 5,000 HAPI. The maximum deposit amount is 3 HAPI. This round is 100% unlocked at TGE and will be claimable on the corresponding Boca Chica website.
- The second Sale Round’s allocation is 20,000 HAPI. The maximum deposit amount is 100 HAPI and 1 HAPI is the minimum. There is a 6 months cliff and 2 year linear vesting with 10% being unlocked at TGE.
- The third Sale Round’s allocation is 75,000 HAPI. The maximum deposit amount is UNLIMITED and 1 HAPI is the minimum. There is a 6 months cliff and 2 year linear vesting with 5% being unlocked at TGE.
All Sale Rounds will be FCFS meaning that there is a hard cap on each that immediately discontinues the round after it has been reached.
