Transcript: HakuSwap AMA with Snowball February 11th at 4 PM UTC
@zack_defi: Welcome to the Snowball community @thehakusan
@thehakusan: Alright! Hello everyone! Thanks so much for hosting Snowball team! We’re so excited to be here.
@zack_defi: Great to have you here.
Q1. Please introduce yourself to the community and how you got started in crypto?
@thehakusan: 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.
@zack_defi: 2. Please tell us more about HakuSwap. What was one of the main objectives in starting the protocol?
@thehakusan: HakuSwap is the newest Dex on Avalanche with the lowest fees and the highest APRs for Defi investors & traders! HakuSwap is a crypto world for users to trade, earn, and game. It is the premier choice for projects on Avalanche with features including AMM, NFT, and GameFi.
⛰Lowest Exchange Fee — 0.2% per swap
25% 50% of Swap Revenue Sharing with xHAKU holders
⛰NFT staking and mining
⛰Trade Mining — get paid to trade!
⛰High APR Farming & Staking Pools!
Analytics — See all the trades and liquidity on the HakuSwap Dex!
⛰Free Token Multisender
⛰1 Click Zap LP Creator
⛰Free multichain bridge with anyswap/multichain integration. You can bridge from Eth, BSC, Poygon, FTM, and AVAX
The first Play to Earn game we’re developing is “The Battle of Haku.” It’s a derivative of the popular wolf.game on Ethereum. In fact, we recruited the artist from the game to help us develop and build our version.
Our play to earn game will use $HAKU to level up the Ninja and Monks NFTs and earn new NFTS.
Hakuswap will become the premier liquidity source with a focus on NFT, Metaverse, and Play to Earn.
@zack_defi: 3. How does HakuSwap differentiate from the other DEXs currently available on Avalanche?
Hakuswap offers many benefits to investors, traders, and hodlers via our low fees and revenue sharing platform as well as our stacked road map.
We are very proud of our super low swap fees. The average swap fee on AVAX is currently 0.3%. We all love to see the pump in price of $AVAX but with higher prices comes higher gas fees. Traders can save their money by trading at Hakuswap.
We also use 50% of all swap revenue to buy back and send to our xHAKU stakers.
Each day all the LPs from the trading fees are broken and is used to market buy $HAKU. Other Dexes many only use 16% of trading revenue.
Our staking program is super aligned to reward long term $HAKU holders.
$HAKU holders can stake their $HAKU for $XHAKU and earn their share of the 50% of protocol fees + $HAKU + partner tokens + governance rights.
Users can withdraw from $XHAKU to $HAKU at anytime but there is a 4% fee assessed if withdrawn before 30 days.
2% of the fee is burned forever and 2% remains in the pool to reward the holders.
So far $XHAKU stakers are earning 62% APR from the withdraw fees + swap fees alone. They can stake their XHAKU for HAKU for another 1011% APR.
We are in works to develop our own NFT market place and virtual real estate. Our end goal is to build our own metaverse town for Hakuswap and all our partners. And the primary driver of value will be the $HAKU token. 🚀
@zack_defi: Great. These are valuable information for our community to pick the DEX of their choice.
4. Could you please expand a bit on your tokenomics?
@thehakusan: Overall there are 100,000,000 total $HAKU but with frequent burning & automatic protocol burns we’ll see a much lower amount of total $HAKU after 4 years 🔥
It’ll take 4 years for all the HAKU to be fully released to the public.
Our emissions direct tokens to the Farms, xHAKU staking, NFT staking, and trade mining. The trade mining will go live in a few days once the TVL builds up some more 😁
70% of all HAKU tokens are reserved for the public.
-35 million for farming rewards
-5 million for NFT rewards
-15 million for xHAKU rewards
-15 million for Trade mining rewards
-22 million is set aside for ecosystem and initial liquidity
-8 million is for the test vesting over 8 months
The best part about the HAKU emissions is that they will decrease by 5% per month automatically. This makes it harder to earn $HAKU and combats inflation.
Users can earn $HAKU 4 ways.
1. Stake your LP tokens in the Farm. The highest earning pool will be $HAKU-AVAX.
2. stake your Hakuswap NFTs for HAKU. We’ve allocated 5% of all tokens for NFTS. All of our P2E games will be able to earn and spend $HAKU
3. Stake your HAKU for xHAKU to earn more HAKU daily via market buy backs from protocol swap revenue and the single xHAKU staking pool.
4. you can earn HAKU via trading! Every trade will reward you with HAKU!
The great part of the trade mining is that every time you’re trading youre making money 🤑 Trade mining will be live in a few days
@zack_defi: Thank you for the detailed breakdown.
5. What steps have you taken to enhance the security of your protocol?
@thehakusan: As long time builders, we have a total emphasis on security and protocol stability.
We only use battle tested code to ensure our project runs safely and as designed.
Our project code was sourced from Pancakswap, Babyswap, and Spookyswap, all are certik audited projects
PCS — router
Babyswap — trade mining/factory
Spookyswap — xHAKU.
In addition, we also ordered two additional audits to assess the code from Hash0x and Ether Authority. Both auditors gave us a well secured rating.
You can view the audits on our docs page here: https://docs.hakuswap.com/audits
We are also in talks with Certik to order additional audits when our NFT market place goes live. Safu is #1.
@zack_defi: 6. Do you have any upcoming releases that you may want to share with the community?
@thehakusan: We just launched a promotion with ONTO wallet!
Users can earn their share in $4,000 in $HAKU rewards by downloading ONTO Wallet and staking at Hakuswap.com
Check the promo here: https://t.me/hakuswapann/87
Our play to earn game “The Battle of Haku” is undergoing swift development and we’re so excited to push it out.
The Battle of Haku has Monks and Ninjas.
Monks can be staked in the Temple to earn $HAKU and pay a tax anytime they claim their $HAKU earnings
If a Monk is unstaked from the Temple, the Ninjas try to steal all of its accumulated $HAKU
When a new Monk is recruited, the Ninjas attempt to kidnap it. If they’re successful, it’s given to a randomly selected Ninja, instead of the owner who minted it
You have a 10% chance of minting a Ninja, each with unique traits, including an Alpha value ranging from 5 to 8. The higher the Alpha value:
- The higher the portion of $HAKU that the Ninja earns from taxes
- The higher chance of stealing a newly minted Monk or Ninja
@zack_defi: Just a note that this will be limited to the first 400 users.
7. Lastly, where do see the crypto landscape in the next 6 months especially NFT’s since that would be one of your main focuses?
@thehakusan: I think NFTs will play a much larger role in the crypto economy. This is the reason we’ve structured hakuswap with an emphasis on NFTs and P2E. We want to be the liquidity source and trading source for all things crypto and NFTs.
@zack_defi: Any community members that have questions for @thehakusan then please prepare them now.
You may begin asking questions now.
Telegram Community Live Questions
Q1. I saw that the project has two tokens HAKU and xHAKU? What function does each one have and how do they interrelate with each other? ⛰
How can i get those tokens now after the presale?
@thehakusan: $HAKU can be earned via trade mining, liquidity mining, nft staking or play to earn games, and xhaku staking.
xHAKU is the staked version of haku. it earns protocol revenue and can be staked to earn more haku or partner tokens.
You can buy $HAKU ONLY at Hakuswap. Here’s the link https://exchange.hakuswap.com/#/swap
Q2. How will NFT staking work on HakuSwap? Can third party NFTs be staked? ⛰
@thehakusan: Please keep your eyes on our social and announcement channels on twitter, telegram and discord for all information regarding the NFTs. They’re coming soon and we can give all the info then 😁
Q3. In the roadmap, I see that HakuSwap intends to include several elements that are currently in trend. I mean Metaverse, NFTs and P2E. Is there a relationship between these elements? that is: the Metaverse and the NFTs will be related to the P2E game(s)? Also related to NFTs, I see that they will support trading and stake. Could you give us more details on how these will work? Will third party NFTs be accepted for these functions?⛰
@thehakusan: we have huge plans for all of this. Like i stated in my previous answer please follow us for updates as our project develops and new features are released.
Q4. When wiill the bridge function be released?
we are testing it now and it’s probably ready for deployment today 🌉
Q5. Do you have any guide to participate in the HakuSwap token sale? ⛰
@thehakusan: The $HAKU token sale ended on Monday and raised the full $500,000 in only 40 minutes! $HAKU is now trading live.
Q6. Is there any relationship between the HakuSwap and Jetfuel projects? If so, can you clarify what this relationship consists of and how it is beneficial for both the projects and the users?⛰
@thehakusan: yes we share developers and some internal resources. what works well at hakuswap can be implemented at jetswap and vise versa.
Q7. what are your marketing strategy, i see you have so many followings on Tweeter and members on instagram but not enough buyers?
@thehakusan: we are going to be focusing very hard on new partnerships, work with the avax team, and push new and exciting features for the community.
Q8. you, at some point in your development, will become a DAO. Will HAKU be the governance token of this DAO? What governance rights will users have? ⛰🏔
@thehakusan: $HAKU and xHAKU will be governance tokens.
Q9. Trade Mining is a concept that I have only seen in HakuSwap. It is a very innovative way to encourage the trade. Can you give us details of how it works? How profitable is it for the project? ⛰
@thehakusan: trade mining, when we turn it on, will allow traders to earn every time they trade! 0.12 HAKU will be sent to the trade mining contract. We anticipate a much higher trading volume once this is live and once trading volume increases so will liquidity.
Great questions everyone!
@zack_defi: Thank you @thehakusan for visiting the Snowball Telegram community. We greatly appreciate all the detailed info and answers.
@thehakusan: Thanks! I’ll drop all the links so everyone can follow us :)