DegenVC in July 2021
It’s been a slow Q2 in the markets…
This update captures our current work-in-progress, thinking and near-future ideas as we cannot profess to know what’s happening for the rest of Q2 2021, let alone the next week in crypto.
First, a couple couple of tomes:
- In some Southern Hemisphere countries we “celebrate” the concept of Christmas in July because it’s our winter and that holiday is annually in the height of our summer. Crypto begs to differ. No Christmas in July this year — yet!
- “Sell in May and go away…” and old one but a good one, from the equities and currencies markets, my old home ground. It’s a good one and persists because it is so reliably the case over a long time period iint hose markets. Could be crypto is maturing, right?
DegenVC has had an atypical history in this market. We have bursts of activity where massive alpha is alphadropped to DGVC LP’s — not coincidentally when markets are hot and getting hotter — and then quiet periods where we take advantage of their cooling off — again not coincidentally. This is the benefit of many years of real world experience that allows us to time the deployment of our funding in order to deliver the maximum alpha to our LP’s, to whom we owe our existence. This means we have built a somewhat deserved level of trust, irrespective of market price and sentiment.
Project Overviews
DGVC2
DGVC will morph into DGVC2. We are working on the specifics of how this will play out and our original idea of the Sushiswap masterchef LP swap contracts is still being analysed for suitability. We may have to go the longer way around.
Token Structure
1. Supply will be increased to 12-million tokens. This gives flexibility for the future. Only 1M tokens — the current supply — will be distributed in the initial tranche to current hodlers. The distribution of the majority of the balance will be subject to community voting over time.
2. It will be a Fee on Transfer token — each transfer between wallets, buy and sell of the token will attract a fee. Final parameters will be announced prior to launch.
3. We had thought about making it a rebase token as well, but decided this was an over-compilation, so the idea has been shelved.
Liquid Vault
A new Liquid Vault will be deployed, called the AlphaVault, with the following parameters:
- The ETH Fee charged will be 40% — this means a 10% discount on LP tokens by “sending ETH”.
— The ETH collected from the ETH fee will be used for liquidity provision for new token alphadrops. This means that every ETH gathered from the fee will be made available to new projects launching through our proven alphadrop methodology as their founding liquidity. This is clearly true fair launch methodology in action. - The LP tokens will be locked for a period of 12-hours. MAximum competitiveness, and remember, there is a fee on transfer for everything including LP unlocks.
- The LP Donation is set to 0% — there is no permanent lock on a portion of LP tokens when claimed.
Cross-chain investigation
We are still investigating launching DGVC2 on Polygon as a farming token as well. We would replicate what PolyCat has done and create liquidity mining pools and farms for all DGVC ecosystem projects. We will continue this investigation and report back.
Options.Market
OSM will launch options trading pairs on Binance Smart Chain, starting with BNB/BUSD options. More pairs will be added immediately after commencement, and we’ll take a vote on the most popular.
We will likely use a portion of our own liquidity to seed the initial trading pair in order to create interest in the market.
Hardcore
HCORE will relaunch on Polygon. It will have a new token and all holders will be airdropped the new token in proportion to their current holdings. Once the second game is ready to play we will make a splash with the judging of the first game and award 10ETH to a winner. HCORE will remain a fee on transfer token with a supply of 30,000 tokens.
The rationale for this is as follows:
- The cost of transactions on the ETH chain is too prohibitive for the retail market to participate in this innovative technology. Remember, our ultimate goal is to give a Lambo away as first prize.
- We needed a new Liquid Vault that matched out ongoing innovation. The same AlphaVault will be used as deployed for DGVC2.
Infinity
We are launching the Power Vault for Infinity. the parameters are as follows:
- The ETH/BNB Fee charged will be 20% — this means a 25% discount on LP tokens by “sending ETH/BNB”.
— The ETH/BNB collected from the ETH/BNB fee will go into a Buy Pressure smart contract, and the function for this will be shown on the Website UI. Any user can activate buy pressure on the UI — simply activate the function on the UI through your wallet. - The LP tokens will be locked for a period of 12-hours. Maximum competitiveness, and remember, there is a fee on transfer for everything including LP unlocks.
- The LP Donation is set to 5% — a portion of LP tokens will be permanently locked in liquidity when claimed.
Unbox.Art
UBA has been the beneficiary of 6 weeks of development from a very talented winner of one of the bounties from our Gitcoin hackathon. He has developed a high-level version of the platform on Rinkelby Testnet using diamond NFTs as a proxy for the variants the project could consider.
A decision on the next steps will be taken during Q3, including innovations on top of this work and additional liquidity mining events.
R3T, NOS & RAUX
Announcements on these projects will be forthcoming in due course.
In quiet times we like to build rather than talk too much, or create unnecessary expectations of timelines and prospective successes. This has been our model in the past and it has resulted in $25M total alpha delivered to LP’s.
We will continue this trend. Thanks to all LP’s who have stayed the course with us.
Learn More
Website: https://degen.vc
Telegram: https://t.me/degenvc
Twitter: https://twitter.com/degen_vc
Discord: https://discord.gg/qK8uUqc9Jd
Reddit: https://reddit.com/r/DegenVC
