Q&A: Hunny Ecosystem
Some questions have been collected in Jan and we have answered them in Discord in early Feb.
Q: What are the benefits to people who actually keep their fund staking when the snapshot has been taken away for OG holders to benefit from the sudden change?
A: There will be plans to reimplement the snapshot feature to reward the Hunny supporters that choose to hold on to their tokens, we are finalizing the details on the process and will share it with the community once everything firms up.
Q: What happened with the price and APY?
A: As we all know, rebase protocol doesn’t work when users do not 3,3 and it has proven so. Despite all the promotions, marketing, and introducing hyper staking and kinetic bonding, there are still individuals that choose immediate profit over the constant growth of the protocol and that’s something we have no control of, sadly.
With this realisation, the Hunny team understands we have to move away from rebase protocol and utilize our treasury and start generating true returns. The immediate problem is development will take time and we cannot let our users hold on to LOVE without receiving any rewards but at the same time keeping 1 million APY will have a detrimental effect on LOVE price. so it’s decided we will lower APY to a range that’s sustainable and yet attractive.
Q: Clarification on the “secondary treasury” thanks!
A: Prior to the new implementation, the purpose of having a secondary treasury is to serve as a backup in the event the main treasury can’t support love’s emission. Secondary treasury is a contribution from the dev’s pocket from HunnyPlay. it also serves as a reserve to support payout in the event there’s a big win in HunnyPlay. one example is the recent 500k big win from 1 user.
Q: What’s in it for the people that are here from the beginning and bought very high? Within a few days, people can buy 1000’s of love for a few cents. They will have much more love when the DEX starts. Thanks
A: Once phase 2 starts, LOVE holders will be rewarded with profits generated from the dex and HunnyPlay, the larger proportion of LOVE you own, the more profits you will get. Rebasing will be discontinued and the total supply of LOVE will be fixed. With all this in place, we believe this should drive the price of LOVE up. After all, the total supply of LOVE is 1.55 million now with 230,000 in the LP pool. Price action is achievable with a small market cap.
Q: What will attract people to use the DEX than other competing ones?
A: Project owner perspective
Projects that list their tokens on HunnySwap can opt to have their tokens listed on HunnyPlay and HunnyPoker, there will be a profit share with them on the proceeds of their tokens. This is a win-win for Hunny and the projects as this will allow Hunny to gain more exposure and create more utility for the projects.
There will be an increased farm bonus for selected projects where they can get a multiplier bonus when their users farm LP on HunnySwap. Also not forgetting a launchpad for new projects too!
Users that use HunnySwap will be entitled to trade mining Bonus for every transaction they did on HunnySwap, with a bridge function, users can easily bridge their token from other chains over to the Fantom chain too. We will also be introducing governance tokens where users are able to vote on protocol improvement proposals.
We are also looking to integrate a referral system so that users who spread the word about HunnySwap will also be rewarded for their recommendations to trade at HunnySwap. This conversation about the referral system is currently at very early stages.
Q: Will $Love become a governance token for Hunny in the future or are you looking at a new or intending on revisiting the existing Hunny token to nominate as a governance token?
A: We are in the Discussion of $LOVE and $HUNNY becoming many things that will value add to the future ecosystem, rest assured that the plans of the future will benefit users and holders.
Q: How are the structure of Hunny Finance teamwork? Is the high level management, owner/founders doxxed?
A: We’re a team of 38 now.
Blockchain devs: 6
Business Dev Mgrs: 2
Customer support: 4
Each member of the team has their own crucial role to play in the Hunny ecosystem. Our team has chosen to remain anonymous as we believe our codes speak for themselves. Given the fact Hunny.finance got exploited twice, we did not give up and we will not abandon our community and we will always strive to keep going.
Q: Hello! I just had a question on the timetable for hugs, and will there be a soft stop or hard stop? I know you guys are doing your best here too and you’re not getting the credit for working hard and trying. Thank you.
A: Thank you for your word of confidence, as Hugs is an incentive token and 1 HUG = 1 LOVE. Hugs will eventually be phased out once all Hugs are redeemed.
Q: How will APR in the DEX be distributed? Will it be more KISS tokens or will there be a separate token?
A: Profits from Dex will be distributed to users with our new tokens, this new token will be on the Fantom chain while users just have to stake their LOVE on our platform on the BSC chain. Technically and theoretically, this may be possible, however, please take note this may be subject to changes.
Q: Is the 30% of DEX profits going to ALL KISS holders, including the 90% owned by the protocol? Or will the 30% split go to just the outstanding individual token holders?
A: Up to 30% of all trading fees will be split to individual users that staked their LOVE tokens.
Q: Has the profit split from the casino operations been decided, and if so how is it formulated? Percentage? If so, what will the percentage be? Will there be transparency on casino revenues? How will profits be distributed, in stablecoins or HUNNY?
A: Profit split from Hunnyplay has yet to be decided, we will share more information with the community in the coming weeks as we get closer to the launch of HunnySwap. HunnyPlay’s monthly revenue has always been public information, we always share a burn report every month with the community with consisting of 20% of HunnyPlay profits.