Q2 2024 Recap: Achievements and Outlook

Intro

HAVAHNAMATATA! It seems like only yesterday that we prepared the quarterly report in January, hoping everyone in our community a year where all of their plans come true in 2024, yet half a year has already passed. Team HAVAH has been methodically carrying out the strategies we established at the beginning of the year.

In the first quarter of this year, team HAVAH launched on-chain governance and established the HAVAH Content Fund (HCF), with the first vote to ratify it. We also created HAVAH START, which allows users to stake HVH, and you can see that initiatives supported by the HCF are currently active on HAVAH START. We intend to continue to grow the ecosystem through HCF and HAVAH START.

We understand that many of you have been eagerly awaiting the official launch of Batching.ai, which we announced last quarter. We are diligently preparing to ensure a smooth launch, so please stay tuned for a little longer. This time is being used effectively to grow our initial user base and encourage early activation of the BATCH token.

In this post, as in prior quarterly updates, we will analyze the second quarter of HAVAH, reviewing what we have accomplished and what preparations are required moving forward.

PART 1. Major Achievements in Q4 ‘23

1. Listing of HAVAH Coin on DEX

• HVH Listed on Balanced

On July 23, HAVAH Coin (HVH) was listed on Balanced, a cross-chain DeFi hub. This listing is the product of a long-standing collaboration between the HAVAH Foundation and the ICON Foundation. Balanced DEX may be accessible using Hana Wallet, which has been fully integrated with the HAVAH network.

With this listing, assets from HVH, Arbitrum, Avalanche, Base, and BNB Chain can now be easily swapped using Balanced. Team HAVAH continues to work to make HVH more accessible to a wider audience.

For additional information about the Balanced listing, please see the blog.
➡️ https://blog.balanced.network/havah-connection/

2. HAVAH START Launch

• HAVAH START officially launched on May 10
• Batching.ai campaign concluded, while BSU campaign continues.

The HVH staking platform, HAVAH START, was formally introduced on May 10. Through HAVAH START, we announced the regular hosting of campaigns that offer significant tokens for new projects added to HAVAH. Within a week following the introduction, 140 million HVH had been staked, demonstrating tremendous community engagement.

Currently, with increased participation, a total of 180 million HVH has been staked, accounting for about 12.4% of the circulating supply. A Batching.ai campaign began on May 13 and lasted about a month, while the BSU (Baby Sharks Universe) campaign is still underway. For those who have not yet staked, the BSU campaign will run until August 12, so we invite you to join and participate!

3. Concentrating team efforts on the successful launch of Batching.ai

• Achieved 1st place at the Gate.io Lead Asia Demo Day
• Secured 12 Investments and 19 Partnerships
• Reached 130K Twitter Followers and 45K Discord Members

HAVAH has invested directly in Batching.ai, an AI-powered gaming platform that it co-developed with the ZenaAd team. HAVAH’s tech, business, and community teams are offering their full support to ensure Batching’s success. Through these efforts, we have grown our community to 170,000 members, forged collaborations with 19 partners, and received investments from 12 teams.

During Gate.io’s Lead Asia Demo Day, we got the chance to present the project and the Batching team was awarded the ‘BEST INNOVATION AWARD’. We will keep working hard to guarantee that Batching.ai dominates the AI and gaming ecosystem in the Web3 industry going forward.

4. Expanding the HAVAH Ecosystem

• INF CryptoLab and 0x& Joined the HAVAH Ecosystem
• HAVAH Content Fund: Reviewed 12 Teams, Held Meetings with 9 Teams, Executed 1 Investment

INF CryptoLab and 0x& joined the HAVAH ecosystem in the second quarter. The 0x&-developed game Ragnarok: Monster World is scheduled to have its digital assets integrated into the HAVAH ecosystem. Their multi-chain gaming solution will receive technological assistance from Team HAVAH.

The HAVAH Content Fund’s (HCF) original program operator is INF CryptoLab. They have been actively participating in the HAVAH ecosystem and faithfully carrying out their assigned duties. Alongside the HAVAH team, they evaluated 12 teams in Q2 and met with 9 of them, finally onboarding one of the chosen teams to the HCF. We believe that in the future, a large number of teams will join HAVAH via the HCF.

5. Update on the HAVAH Mitter Interchain Integration

• SOLANA and XPLA Networks (Testnet) Added

On July 10th, we successfully merged the SOLANA and XPLA networks into the HAVAH Mitter testnet. SOLANA integration is especially significant owing to its high technological complexity. SOLANA, unlike EVM chains, does not employ integer-based token IDs, making it difficult to preserve NFT and collection properties when moving to other chains.

For example, typical bridges provide services in which NFT collection information is lost when NFTs are transported from the origin chain to SOLANA, resulting in a single integrated collection. However, the HAVAH Mitter NFT bridge respects SOLANA’s metaplex collection standards, guaranteeing that NFTs retain their collection information even when moved to different chains. This technique maximizes the preservation of NFT properties, retaining their value and achieving interoperability despite the disparities in blockchain standards.

After stability testing on the testnet and inclusion onto the mainnet, we anticipate HAVAH Mitter will play an important role in activating the SOLANA NFT ecosystem.

6. Status of Sustainable Fund Allocation for 2024 Q2

1) Among Planets Sales Proceeds (USDT)

• HVH volume exchanged for Sustainable Fund deposit: approx. 4.72M HVH
• Remaining Sustainable Fund (USDT): approx. 1.594M USDT

2) Among Planets Sales Proceeds (HVH)

• HVH volume transferred to the Sustainable Fund: approx. 5.59M HVH (immediately allocated to the Sustainable Fund upon sale)

※ Total accumulated HVH volume allocated to the Sustainable Fund: 94,019,350.2291368 HVH (as of June 30th, 2024)

Part 2: Plans for Q3’24

1. Official Launch of Batching.ai

• Official Service and TGE Postponed to Q3
• Business Collabs Discussed with Several Exchanges and Network Foundations

As previously stated, the official launch of Batching.ai has been postponed to Q3. The preparatory stage has taken longer than anticipated to guarantee a stable and successful launch. We are working hard to provide exceptional outcomes that will make the wait worthwhile.

However, it is apparent that the Batching team has maintained to deliver good outcomes during this lengthy time. Transactions have topped ten million, and we have garnered prize at major exchange offline event. Our community has expanded to around 200,000 members. These indications establish a solid foundation for boosting the project’s value.

Batching.ai intends to become a prominent multi-chain platform. We want to make Batching available to users across many networks, including HAVAH and XPLA. We are now exploring commercial agreements with foundations of various chains about Batching integration, with our first example being our engagement with BNB Chain. Additionally, we are in talks with many CEX exchanges for listing the BATCH coin. Thank you for your continuous support and anticipation.

Along with our token listing and other business milestones, we are pleased to announce the debut of “Code Caching,” an AI-powered treasure finding game, as our first content release. Unlike typical quiz games with predetermined questions, Code Caching use hash functions to produce new difficulties each time. This game will be used as a pilot example to test the two fundamental ideas of “AI” and “multi-chain service” prior to Meta Match’s official debut. We appreciate the community’s ongoing support and excitement.

2. Invigoration of HAVAH Content Fund

• 9 Teams Recognized and Engaged in Q2
• Revitalizing the HAVAH Ecosystem Through HCF Investments

Since the announcement of the HAVAH Content Fund (HCF), we’ve had requests from a variety of gaming businesses and DApp teams. In the previous quarter alone, we met with nine teams and selected one to join the HCF.

The most significant advantage of HCF is its independence from any single chain. As a result, several teams are exploring incorporating the HAVAH network and community into their multi-chain service offerings. We hope to identify reputable projects, integrate them into the HAVAH network, and promote HVH use in collaboration with the HCF operator, INF CryptoLab. Finally, we hope to enrich the HAVAH ecosystem with a wide variety of material.

3. Continuous Addition of HAVAH START Projects

• New Projects to be Added to HAVAH Start in Q3

All projects supported by the HAVAH Content Fund (HCF) shall be registered on HAVAH START, as described in PART 2–2. HCF’s fundamental policy is to airdrop a part of its tokens to HVH stakeholders.

In Q3, we want to choose and enroll many additional teams through HCF, with their tokens given to the HAVAH community via HAVAH START. (Note: As previously stated, all tokens obtained through HCF would be assigned to HAVAH START.)

4. Constant Contribution to the Sustainable Fund

• The Sustainable Fund will constantly get around 60% of the revenues from the selling of Planets for USDT.
• Remaining volume: around 1.594M USDT (as of the end of Q2)

The Sustainable Fund is a key component of HAVAH’s token economy. After selling Planets for USDT, there is still around 1.594 million USDT left over, and team HAVAH has agreed to give 60% of the sales revenues to the Sustainable Fund. Every quarter, an open report on the administration of these funds will be issued.

Outro

The year 2024 continues to offer significant changes and high hopes for the Web3 business. Team HAVAH is always analyzing the market and refining our plans in order to adapt quickly to the fast changing environment. Although we regret that we were unable to launch Batching.ai in the previous quarter, we have received enormous anticipation and anticipate excellent outcomes based on a variety of factors.

HAVAH START has laid a solid basis by staking around 12.4% of the circulating HVH, while HAVAH Mitter has made great progress in linking disparate networks.

There is still more work to be done, but we hope that if we complete our jobs regularly and gradually, the HAVAH interchain will be used by more projects, enhancing the value of HVH. We expect to achieve consistent performance in the third quarter.

Thank you, HAVAH community, for your continued support.