AMA with Venus Queen & Friends
Paul: Morning, afternoon & evening everyone!!
VenusQueen & Friends: Hello everyone, please welcome Fraser & Paul. the founders of Degen labs. Welcome you guys! So please tell us about your upcoming project called Hardcore.
Paul: HARCORE seeks to take a 5% fee on each transfer of the token.
The fee is then split into 2 — a % into a LiquidVault, and a % into an NFTVault.
To get the $HCORE in the LiquidVault (LV), a user send ETH to the LV, and the tokens available in the LV are wrapped with the ETH into LP.
Those mathematically minded will quickly see that you are effective purchasing $HCORE as a discount!
This LP is locked for 1-month.
The fees that go to the NFTVault finance the purchase of exotic prizes.
VenusQueen & Friends: That is very impressive, and I must say pretty unique. Thank you for the detailed explanation of HARDCORE.
Crypto Runner 007: Thanks for the brief intro on the project. What’s your stand behind making the deflationary token
Fraser: Deflationary tokens started becoming quite interesting when projects allocated a chunk of tokens to stakers over time as an incentive — but this allocation runs out obviously so these tokens lack longevity, especially if the token supply is hardcapped, which it should be.
FOT (fee on transfer) was the next step where the token itself was built to take a fee when transferred from one address to another. This fee can then be used to reward stakers. But the trouble with this is that the token often lacks utility beyond the FOT innovation itself, so the appeal is limited and volumes dry up. You saw that with ENCORE for example.
HARDCORE is a “beyond yield” token.
$HCORE actually gives its holders something beyond deflationary mechanics. The fees mount up and one degen gets an exotic car through mining the winning spot the ball NFT (like botb.com)
I think I would add to Paul’s explainer a bit of background around spot the ball. This is a form of contest where people pay to choose a position where they think a football is in an action image from a football match. A panel of judges choose a point and the winner is the person that chooses a coordinate closest to that point. We have worked out how to allow people to choose a coordinate and mint an NFT. But, like Meme, they can only mint the NFT if they have earned enough points by staking LP tokens.
Like a traditional spot the ball contest, the winner is simply the NFT representing coordinates nearest the judge’s choice. Unlike traditional spot the ball our winner could sell that winning NFT on OpenSea for ETH!
Crypto Runner 007: Got it so burning is not built in but rather governed via token holders, thats impressive!
There is a burn capacity built in as well, but our co-creation with degens told us that they see it as a last resort. Crypto is funny as you all know. You can have the most robust tokenomics in the world, but if the rocket (BTC) is having a bad day everything can be flat. The community could vote to burn as a sort of system boost. But the community don’t see it as being necessary because of the marketing potential behind the project.
VenusQueen & Friends: So since you mentioned about community voting here, is it safe to assume that we will have governance token as well?
Fraser: Snapshot is currently the most pragmatic voting tool, although Aragon is starting to make strides in that department. We have no plans for a governance token (voting at $5 a vote is no fun for anyone), but a combination of snapshot and our project tokens staked at the risk of slashing against implementing community votes is pragmatic for this model we believe.
Crypto Runner 007: Is the plan to sell NFTs (if any wishes to) on OpenSea or Rariable built into the platform?
Fraser: We think it’s one of the fun parts of this, and unique to a blockchain based spot the ball game. If you think you have the winning coordinate, you can try to sell your NFT.
We are actually fascinated to see how this secondary market develops. Of course, as commissions on NFTs gets built into Open Sea (coming soon) we could use that as additional source of prize funds.
VenusQueen & Friends: Cool. it makes sense. Could you please tell us about the tokenomics of HARDCORE?
Paul: As a deflationary token, the total supply is capped at 30,000 HARDCORE.
There is no minting function, and as Fraser mentioned earlier, there is a burn function that can be used tactically when the community deems it prudent to do so.
In typical Degen.VC style, and through our Pure Launch methodology, fully 80% of all HCORE tokens will be #alphadropped to our #degenhorde!!
That’s it, simple as that. Your allocation of the 80% of tokens #alphadropped is relative to your percentage hodling of the liquidity pool!
VenusQueen & Friends: That’s nice. These days an average user is more concerned about minting function present or not in the smart contract. lol
Fraser: Not surprising in some respects! The axion thing was nuts.
Paul: 5% of the token supply has been set aside for influencer marketing and user development, and Degen.VC receives 15%, which will be locked for a pre-determined period of time.
Fraser: HARDCORE wins or loses as a project depending on the popularity of the game. And spot the ball contests are provably popular. On top of this, players get to park their money in a provably robust deflationary system. We think “beyond yield” is the next thing. We think it’s game on
VenusQueen & Friends: Perfect. So 80% HARCODE will be airdropped to LP (Liquidity Provider) users. That’s really nice. No whitelist, no presale but anyone can get HCORE by adding liquidity to $DGVC.
VenusQueen & Friends: That’s great. Will definitely check out the discord channel.
Crypto Runner 007: Can you talk a little bit about the timelines, platform testing and launch?
Paul: There is a timer on the hcore.info website right now that is, we think, a very reasonable approximation of when HCORE will launch.
This time is influenced by the progress of our 5-strong dev team, who are today testing and polishing of the new UI. We are confident of achieving this launch date.
Crypto Runner 007: That’s very impressive! Can’t wait to get my hands on the Lambo :)
Paul: It’s worth mentioning how the NFT game works from a staking perspective.
An LP hodler can stake a maximum of 2.02 LP PER DAY to earn 1 point. You require 2 points to mint the NFT, so at maximum LP it will take 2-days. You can obviously stake less; it’ll just take that little bit longer to earn the 2 points needed.
Why 2.02 — well the Lambo we have our eyes on for the prize has a top speed of 202MPH!!
Fraser: There’s nothing like an AMA with a group of knowledgeable guys to get the juices flowing so thanks from me for this. It’s been good
VenusQueen & Friends: Do we have any plans to audit the smart contract before or after the launch? Audited smart contracts always attracts more investors as far as my knowledge is concerned.
Fraser: We have multiple auditors (individuals) amongst our team, and they are a distributed team. Our approach with this project will be to have one experienced audit person audit the others’ work.
This will not be like a pay 50k to a fancy name audit firm that gets an intern to do it LOL! It will be more of a practical solution by experienced dev opps.
The contracts are also simple enough to manage this (there will not be millions sitting somewhere for example).
Paul: Yep, that’s our sensible approach and besides — audits of anything other than mainnet can end in tears as we have seen in a couple (unnamed) projects recently!
Crypto Runner 007: We have first handed seen successful launches of many projects on DGVC platform. What is your success mantra?
Paul: It started with us at community level. Our approach was very much inspired by the lightning success of Meme, and the amazing “dontbuymeme” ethos that was built into their community.
We thought, why not take a similar approach, but with something more serious and fundamental to prospective crypto investors — we can attempt to disrupt the venture capital cycle where a small group of influential people get access to all the best deals.
Combining the airdrop (#alphadrop) idea that gave birth to Meme, and the idea that VC’s could be disrupted, we decided to expose our work on curation markets (live demo video on Degen.VC) to the market to see if they liked what we have done.
We are happy that they do 🙂
We then put out a call to action: bring us your projects!
The combination of all of this has resulted in a really loyal and committed core of the #degenhorde, and can be evidenced by the fact that, even in a market that was not buoyant until now, our liquidity on Uniswap never dropped substantially below $500,000.
VenusQueen & Friends: I really, really love the concept of giving an equal opportunity to common investors to become VCs. Great initiative by you and Fraser.
Paul: Thank you 😊
The next iteration of DGVC is also in the pipeline, and under discussion on our Discord channel (for LP’s only though).
DGVC-V2 will incorporate a number of our innovations from HCORE and other projects to continue the “beyond yield” theme! LP’s will no longer have to only wait for #alphadrops to receive yield!!
Crypto Runner 007: Totally agree, it’s a very important role DGVC is playing here. Keep up the good work!
Paul: Thank you 😊
VenusQueen: What would you say to those who are tired and burnt of Uniswap rug pulls? How HCORE is anti-rug pull? Of course, I know but may be some might want to know how.
Paul: Great question.
The first point to make is this — DGVC has been in existence since August, and in that time we have taken the view to be completely open and transparent in our dealings, to the extent of writing Medium articles about why we don’t lock all our team tokens (we did lock 3% & 30ETH back then).
Fraser is an ex-Olympian with a high global profile and I’m a former bank treasurer that is licensed by 3 regulators globally (SA, Qatar & Barbados — UK was in process then I left banking!)
Our reputations are worth more than a couple hundred thousand via a rug pull — what’s the point of that?
HCORE is no different — it is our project, our names at stake and we are locking some of our team tokens from the outset this time.
We want circulating supply to be >90% at all times where practical — and without a minting function, it all adds up to the ultimate anti-rug-pull ecosystem.
VenusQueen & Friends: I can’t wait to see the V2 roll out. Very excited ❤️
Alright Paul and Fraser, that’s pretty much it from our side unless you want to add more.
Paul: Thank you again to VenusQueen and @CryptoRunner007 for hosting us — it’s been an amazing session!
VenusQueen & Friends: It’s pleasure having you here :) I am sure it will be great learning experience for the community besides learning about $HCORE.
Paul: On behalf of Fraser (who had to jump on a dev call!), the pleasure has been ours!
Q & A
Joe: Roughly, what’s the volume requirement for a Lambo to be made available?
Paul: Hey Joe — there is an image in our introductory Medium article, here: that is a handy guide on volume requirements…you’ll see, it’s around $10–12M in volume.
Joe: is it possible to build into the contract a variable FOT rate that adjusts itself between 1% and 5%+ depending on daily volume to attempt to offer a consistent flow of Lambos over a period of time?
Fraser: It’s a great question Joe. The alternative of course is that treasuring keeps excess for times where volumes are a bit flatter. On that, if the game is attractive enough consistently then why reduce the FOT fee? Just bank the revenue for a rainy day.
Joe: Definitely like the HCORE concept. As with the other tokens, are there plans on adding HCORE to Behodler in the future?
Paul: 100% — all DGVC project tokens will be added to Behodler!
The Undertaker: Hello there, when will be the snapshot taken to be eligible for the hardcore airdrop? Are we too late to add liquidity?
Paul: Hiya — the timer on hcore.info is a handy guide…there is definitely still time! When that starts to tick down, my itchy snapshot fingers get twitchy lol.
Rocky: I was reading the AMA Q/A and is it true that you have team of 5 developers working on $HCORE?
Paul: Yes, that’s correct. If you think out the effort in smart contracts, splits into 2 vaults, UI and Web3 work — it’s a heavy load!
Stone Cold: Reading AMA, where can I buy DGVC? Is it on Binance?
Paul: Here you go:
• Where to Purchase DGVC:
🦄 Uniswap: t.ly/wCSc
🌎 Bilaxy: rb.gy/rbdkzy
• Where to pool DGVC/ETH:
🦄 Uniswap: t.ly/0wvV
Stone Cold: Got it thanks for the link! Any plans to get listed on Binance or KuCoin?
Paul: Spending all our hard earned $ on dev — they can list us for free if they want lol!!
Rocky: One last question: Are you guys going to make Github public soon?
Paul: Absolutely. The stuff we are working on breaks new ground, and we obviously don’t want someone to fork the code before we launch — after that, clones = compliments! As soon as we launch, it’ll go into our public repo, here: https://github.com/degen-vc
Rocky: Thank you. This is very helpful if somebody wants to keep track of what’s cooking
Stone Cold: I think I have to improve my uniswap buying skills hahahah
Paul “The Khal” Scott:: Come to https://t.me/degenvc — we have tutorials made by our community! youtu.be/sM6tyTPaEhg
$MJP: What’s the contract addy? please?
Paul: HCORE is not yet launched — DGVC’s token address (do not send ETH to this address!), should you want to enter the liquidity pool, is: 0x26E43759551333e57F073bb0772F50329A957b30
Here is a detailed breakdown of contact info:
🚀 Welcome to Degen.VC: Someone WILL win a LAMBO!!
✅ The next #alphadrop is HARDCORE:
🌎 Telegram: t.me/hcorefinance
🌎 Website: hcore.info
⚡️ Be a member of the $DGVC LP and get #alphadrops
• Who we are: degen.vc
💧Supply: 1,000,000 Max
💧Circulating Supply: 800,000
• Where to find us
🌎 Telegram: t.me/degenvc
🌎 Medium: medium.com/degen-vc
🌎 Reddit: reddit.com/r/DegenVC
🌎 Twitter: twitter.com/degen_vc
🌎 Discord: discord.gg/pPCuyYa
• Where to Purchase DGVC:
🦄 Uniswap: t.ly/wCSc
🌎 Bilaxy: rb.gy/rbdkzy
• Where to pool DGVC/ETH:
🦄 Uniswap: t.ly/0wvV
Dextools Score: 94 = ANTI RUG-PULL!!
📑 Contract Verified: 0x26E43759551333e57F073bb0772F50329A957b30
$MJP: So to win the Lambo, do we buy tokens? or do we add LP tokens
Paul: Read up on all the info at all these sites — it’ll help explain way better than I can in a couple of lines! Here is a helpful beginners guide too.