The following Medium post is a recap of HakuSwap’s AMA session with Matic News. The recap features questions asked by community members, as well as answers. We were happy to see such a fantastic response from our friends at Matic News, and we enjoyed answering the questions asked by the team and the community.
You can see the original AMA conversation on Matic News’ official Telegram Channel here: @polygonnews
Enjoy your reading!
AMA Transcript:
GP {BETO} [Matic News]: It’s time for the boss back in house. How are you doing @thehakusan ?
Hakusan [HakuSwap CEO]: Doing great! I’m so honored to be back in the Matic News community!
GP {BETO} [Matic News]: Pleasure is all ours. Another ama on a cross chain project after the big success of past ones! But this is time is with a project that we already covered and went great the presale! For the new audience let’s start with an introduction of you and your team! What past experiences you all have got if any?
Hakusan [HakuSwap CEO]: Yes! 3 months after launch and Hakuswap is going strong 😁
GP {BETO} [Matic News]: Best Dex token in my multichain portfolio.
Hakusan [HakuSwap CEO]: I am the Hakusan, CEO of Hakuswap.com. Hakuswap is the next generation DEX AMM on the Avalanche C-Chain.
I am a long time crypto holder since the OG Bitcoin Days of 2012/2013 and have worked & built many of the top defi protocols many of you have used over the last 2 years 😁
Our team has a wealth of experience building SAFE & High APR farms, lending protocols, NFT projects, and infrastructure tools.
GP {BETO} [Matic News]: Indeed, really long time experience in the market you and your team 😃. That’s one of the most positive points that every project should have in my opinion. Speaking about this new expansion, what is battle.hakuswap.com? Please introduce it to us!
Hakusan [HakuSwap CEO]: The LONG awaited NFT Play to Earn game from Hakuswap! We are thrilled to finally release it!
The Battle of Haku is a play-to-earn NFT Game built on Avalanche. The game pioneers a unique type of NFT mechanics and tokenomics allowing you to monetize your gaming experience with $Haku in an action-packed adventure on Mountain Haku where the battle between the Monks and the Dark Valley Ninjas lives on.
The Battle of HAKU NFT Mint starts TODAY at 5 PM UTC!
Mint only at http://battle.hakuswap.com
Cost: 1 AVAX for the first 5000 NFTs
5001–10,000 will be minted with HAKU
The Battle of Haku offers several unique characters with upgradeable abilities, strengths, and weaknesses. There are currently two characters, the Monks and the Dark Valley Ninjas.
The Monks:They are tenacious warriors born to serve the spirit of Haku and armed with the vast knowledge of the Temple. They serve to maintain the order on Mount Haku and are the protectors of the light deep within. They are ferocious warriors geared to attain enlightenment with $Haku but are sometimes lured into the shadows when they choose to abandon the temple. They only gain their strength and multiply in number when they maintain $Haku within their reach.
The Dark Valley Ninjas:They are the counterparts of the Monks.They are skilled at harnessing the power of the Monks who abandon the temple. They are adept at mastering new weapons and lurk in the shadows of Mount Haku to kidnap the Monks and steal their $Haku. They frequently change their tactics to beguile the Monks and do anything to win the battle.
For ALL details please check https://hakuswap.medium.com/introducing-the-battle-of-haku-a-play-to-earn-nft-game-on-the-avalanche-blockchain-d32dae9e501
GP {BETO} [Matic News]: Complete and clear explanation. That’s exactly why we invited you here with us. Furthermore I can’t wait to try what you built in these months. The only DEX on the chain that also made a game, so excited!
Hakusan [HakuSwap CEO]: We are working to bring more and more utility for HAKU. Stake your NFTs and earn HAKU and stake your NFTs and maybe steal NFTs and HAKU from other players. It’ll be a great time.
GP {BETO} [Matic News]: Would you like to add something more about the lore of the game?
Hakusan [HakuSwap CEO]: …In the misty valley of Mount Haku, a congregation of monks prays endlessly to the great spirits deep within the mountain, hoping to reach the utmost level of enlightenment descending upon them in the form of $Haku; a token of imperishable strength merely rewarded to the ones with a strong commitment to protecting the spirits of Mount Haku.
The monks pray and offer their HAKU to the temple on Mount Haku. As more HAKU accumulates, the recruited Monks grow in size and strength to protect the mountain where an insurmountable threat with inexplicable malice lurks in its shadows. They are called The Dark Valley Ninjas.
With an insatiable thirst to steal HAKU, The Dark Valley Ninjas secretly hide in the shadows of Mount Haku and prey on the Monks to take away their HAKU. A pact to end the horrors and sufferings between the Monks and Ninjas was finally reached with a compulsory tax on all of the ones who seek HAKU enlightenment.
Only those who choose to abandon the temple and gather recruits fall victim to the Ninjas. A decree was made to cease the war and attacks on the Monks unless one chooses to abandon the temple or continues to gather recruits, the Ninjas will not hold back and an attack on the Monks is imminent.
GP {BETO} [Matic News]: Good character and story type :). Finally something unique kek.
Hakusan [HakuSwap CEO]: The Valley Battles Game is a risk protocol for NFTs with unique tokenomics showing what can be accomplished through the interactions between the ERC-20 and ERC-721 protocols. For the very first time, your NFT can be made to steal other NFTs (ERC-721 tokens) for you. The rarer your NFT, the more tokens you can accumulate probabilistically. The Valley Battles Game is pioneering new types of NFT mechanics.
GP {BETO} [Matic News]: Very interesting! Please tell us more of your P2E concept!
Hakusan [HakuSwap CEO]:
-Monks can be staked in the Temple to earn $HAKU and are obliged to pay a tax every time they wish to claim their $HAKU earnings. There are 8500 HAKU distributed per day to Monks
- If a Monk is abandoned/unstaked from the Temple, the Ninjas will try to obtain all of the accumulated $HAKU
- When new Monks are recruited, the Ninjas will attempt to kidnap them. If they’re successful, They will be given to a randomly selected Ninja, instead of the owner who minted them.
GP {BETO} [Matic News]: Damn that’s super cool ahahah…Curious to see ninja price 👀
Hakusan [HakuSwap CEO]: Ninjas are only 5% of the total NFTs. So they should have a good price.
GP {BETO} [Matic News]: “It was inevitable”. But an important note, about your native token $HAKU, please tell us more about that! Which are their use cases?
Hakusan [HakuSwap CEO]:
$HAKU is the liquidity incentive, staking, governance, and NFT, and native DEX token of Hakuswap!
-Stake HAKU for xHAKU and earn 50% of the daily trading fees automatically.
-Stake xHAKU to also earn free tokens including HAKU, HPS, and DEP. Rates are around 200% APR so it’s a super high earner
-Use your HAKU to mint NFTs in the Battle of HAKU
-Trade, stake, swap, and earn with HAKU
-Use your HAKU to vote when the governance portal is opened.
We’ll be adding more use cases for HAKU as time goes on to make it the strongest DEX token on Avalanche!
GP {BETO} [Matic News]: Well seems this mechanism is working. Since the bitcoin dip you already recovered a lot.
Hakusan [HakuSwap CEO]: Yes up about 400% from the lows!
GP {BETO} [Matic News]: Congrats! While speaking about your non fungible tokens, please tell us the rest of the infos about your NFTs👀 ( if still some is missed :D)
Hakusan [HakuSwap CEO]: I think we covered most of the info for The Battle of Haku 😁. If you need a refresher please refer to our Battle of Haku Website
GP {BETO} [Matic News]: Indeed, I think everything it’s super clear
Hakusan [HakuSwap CEO]: The Mint starts at 5 PM UTC only at https://battle.hakuswap.com/stake! Get your AVAX Ready!
GP {BETO} [Matic News]: Suggest to check all of this infos especially. And good luck to find a ninja! Are there any rarity tool that help us to buy the NFTs?
Hakusan [HakuSwap CEO]: Of course!
GP {BETO} [Matic News]: I want this as avatar :D. Send us more🔥🔥
Hakusan [HakuSwap CEO]: Just a little preview 😁
GP {BETO} [Matic News]: Damn man. Congrats to the designer. These are so cool. @terralunasoldier have a look that you love pixel art 👀. Super cool! What would happen if I mint a new Monk using Haku?
Hakusan [HakuSwap CEO]:
Hakusan — Will Never DM, [May 20, 2022 at 6:36:21 PM]:
The first 5,000 are minted using AVAX with only 1 avax per mint! We wanted to be able to put the NFTs in the hands of as many people as possible so it’s only about $30 per NFT.
It’s some of the lowest cost and highest value NFTs you can buy at the moment.
After the first 5,000 are minted you can use HAKU to mint more NFTs to obtain either a Monk or a Ninja.
0 to 4999 Gen 0- 1 AVAX
5000–6677- 1000 HAKU
6678–8343- 1,250 HAKU
8344–9999 -1,500 HAKU
GP {BETO} [Matic News]: Indeed, consider actual Avax price / revenues it’s very good combo. Which marketplace are you using for the buy and sell?
Hakusan [HakuSwap CEO]: We are almost done development of our own in house marketplace! But to start we will list at Kalao 😁
GP {BETO} [Matic News]: Wise idea, as right now it’s the most used. Speaking about the game, when will be possible to play it?
Hakusan [HakuSwap CEO]: As soon as the Mint starts!!! You can play in about an hour and 20 minutes. battle.hakuswap.com!
GP {BETO} [Matic News]: Wow that’s amazing! Great confirmation to hear 😎. Let’s talk about the tokenomics! Please tell us about yours and about why you chose this model?
Hakusan [HakuSwap CEO]: We put lots of time and thought into the Tokenomics for Hakuswap to ensure its sustainable and attractive for investors, traders, and holders. for all details please check our docs page at docs.hakuswap.com
But a quick overview:
Total Supply 100,000,000 HAKU
Burns: 2% of early withdraw from xHAKU. Nearly 100,000 HAKU already burned!
70% of HAKU is allocated towards farming, nft rewards, xHAKU, and trade to earn with a 4 year emissions schedule
Every 30 days Haku emissions are reduced by 5% which means that HAKU is harder and harder to earn.
The remaining 30% of HAKU are vested to the team treasury and the ecosystem fund.
The best part about HAKU is xHAKU.
xHAKU is the staking and fee generation token for Hakuswap.
Earn 50% of the 0.2% swap fee. If you hold for 30 days you can withdraw when ever you want. If you withdraw before 30 days you are subject to a 4% tax. 2% of the tax is burned and 2% of the tax is shared back with xHAKU stakers.
GP {BETO} [Matic News]: GP {BETO}, [May 20, 2022 at 6:48:29 PM]:
Indeed, I suggest everyone to have a look also to the docs to see the mechanism further explained and also the check that the APR% that they are very juicy right now
Furthermore, how is the revenue being generated for the project itself which can be used to finance future developments?
Hakusan [HakuSwap CEO]: We self funded the project up to our initial token sale where we raised $500k USDC. Half of the raised funds went to Haku liquidity.
The team has 8% of HAKU tokens but we are not interested to sell any to maintain a good price.
We initially planned for 25% of swap fees going to xHAKU and 25% going to dev wallet but soon after launch we updated to move all of dev fees to xHAKU.
We’ll earn some fees via the NFT market place.
Our launchpad will bring good fees to the team
And our devs can assist other projects with developments if they include hakuswap in their ecosystem to generate internal reveneue.
we have many ways to raise funds without selling HAKU 😁
GP {BETO} [Matic News]: The best confirmation to hear :) Looking forward in the long term to see over perform the other DEXs and to see the first IDO 😎
Talking about the security side, the Clichè question that we ask in all AMAs, are there any KYC or audit planned?
Hakusan [HakuSwap CEO]: Hakuswap was audited by both Certik and Ether Authority! All is Safu :). oh and Hash0x. Check them here :):
https://docs.hakuswap.com/audits
GP {BETO} [Matic News]: Complete audit meal :). Which are the current partners and the marketing strategy to have a good amount of users at the launch of the game?
Hakusan [HakuSwap CEO]: We are close with billion happiness and Deap Coin. Both are major NFT players. We also participated in the Elk Rush and are planning to onboard all of their friends and partners into Hakuswap.
Our business development team is reaching out to all the Avax projects so we can be a source of liquidity and promotion for their projects.
The more projects we can onboard to Hakuswap the more our ecosystem grows.
GP {BETO} [Matic News]: Facts, collaborations are the key for the success 👀
Talking about the future, as recap, do you have any preliminary roadmap that you would like to share with us?
Hakusan [HakuSwap CEO]:
-Integrated Cross-Chain Bridge — DONE
-Free Token Multisender — DONE
-Metaverse with real estate and NFTs -next quarter or 2
-NFT Staking — TODAY!
-NFT Marketplace — SOON!
-User Profiles — SOON!
-Trade to Earn — SOON!
-High Value Trading Competitions -SOON!
GP {BETO} [Matic News]: The most clear roadmap of the month :). Can’t wait to test the game today! Last, but not least, what do you think about the current moment on the Avalanche Chain?
Hakusan [HakuSwap CEO]:
Crypto Moons and Crypto Dies. Short term action is nothing. Long term there is tremendous value to AVAX and the best builders will come out on top 😁
GP {BETO} [Matic News]: Thanks for your view on it! Very curious and excited to see what next months will bring us. Now even more then we was at 70k. Would you like to add something more before I open the chat? 👀
Hakusan [HakuSwap CEO]: Get to battle.hakuswap.com and get ready to mint your Monk or Ninja!!
Matic News:
FIRST PART OF THE AMA HAS JUST FINISHED! CHAT WILL BE UNMUTED in 3 minutes!
When it is unmuted, you can ask your questions from the guests and they will reply to your questions for approximately 15 minutes (or as long as they want).
We are probably the most active group on Polygon and I know many of you will ask your own questions, so please be patient with the guests!
Don’t forget, in order to be eligible for the rewards, please follow all accounts in the last pinned message!
This ask me anything (AMA) session is for general information purposes only! The messages you read here in this group during the AMA and outside the AMA are not investment advice! Please do your own research!
GP {BETO} [Matic News]: 3 minutes to prepare your questions!
__QUESTIONS ARE BEING ASKED BY COMMUNITY MEMBERS —
Hakusan [HakuSwap CEO]:
Great questions 👏any more? All done @GPVVKING
GP {BETO} [Matic News]: Chat is mute guys
Hakusan [HakuSwap CEO]: alright lets dive in :). @GPVVKING how many to answer?
GP {BETO} [Matic News]: As much as you like boss. No rush at all :).
Hakusan [HakuSwap CEO]: Great ill pick 5 or 6
Question #1: [Brian #KunciArmy] Did you consider feedback/community requests during the creation of your product to add fresh ideas to your project? Many projects fail because the target audience and clients are unreachable. So I want to know who is your ideal consumer for your product?
Hakusan [HakuSwap CEO]: Currently, the project continues to be attacked by hackers. It is the nightmare of many projects. So, what is your strategy for anticipating possible hacks on your platform? of course, the community usually has the best ideas.
Question #2: [Michell] Where are the funds charged for taxes for claiming the rewards collected by the monks redirected? Is it charged by percentage or value in fixed $HAKU?
Hakusan [HakuSwap CEO]: The 20% of taxes are claimed by the Ninjas. You can refer to the white paper for more information https://battle.hakuswap.com/whitepaper.pdf
Question #3: [Phisto] How many free NFTs are minted by the team for giveaways or yourselves?
Hakusan [HakuSwap CEO]: Not many, maybe 200 max
Question #4: [Yield King] Do you think the gamers will dump HAKU after each reward recieved and do you have any measures to support the price if this happen?
Staking in Hakuswap since the ico
Hakusan [HakuSwap CEO]: The goal is to have the Haku used to mint more NFTs so we don’t see an issue
Question #5: [DTryasari] At the current moment it is not that simple for a user (especislly for non-crypto user) with no knowledge of crypto to get into dapps, NFTs, etc. so what’s your plan to remove entry barriers in order to making HakuSwap platform easier and more accessible to anyone?
Hakusan [HakuSwap CEO]: education is 🔑
Question #6: [The Legendary Parrot] I will gonna mint some, but how does if the nft not sold out? you will reduce mint price?
Hakusan [HakuSwap CEO]: 1 avax is a good price. we don’t have plans to reduce the price.
Question #7: [Seraphine] We know that xHAKU is earned by staking, but I have a question. Can more xHAKU tokens be earned without adding liquidity by building LP or staking?
Hakusan [HakuSwap CEO]: xHaku can only be minted by staking haku. the xhaku is a yield generation token so the value of each xhaku token goes up over time.
Hakusan [HakuSwap CEO]: All done @GPVVKING
GP {BETO} [Matic News]: You have been fast ahahaah. Thanks so much for your time @thehakusan !
Hakusan [HakuSwap CEO]: Greatest AMA🙏🏻🙏🏻🙏🏻
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HakuSwap Team
