Transcript: HakuSwap AMA with MATIC.NEWS January 16th at 9 PM UTC
@GPVVKING: Happy today to have with us a new good avalanche project. You have multiple ways guys to bridge your funds to Avalanche, from Elk.Finance till Relay chain and many others
@thehakusan: Hello everyone! Happy to be here 🗻
@GPVVKING: A pleasure! Thanks for accept our invite! Let’s start with your and your team’s introduction! What are your past experiences and roles? How many members currently work on HakuSwap?
@thehakusan: It’s an honor to be here. Our team consists of highly experienced crypto developers, marketers, business developers, copy writers, and designers and community managers.
We have 3 full time developers building the dex, and implementing all of the code to ensure the swapping experience is perfect.
Our marketing team has worked at a number of the top crypto projects and will be pushing out some great social activity.
Overall our team is strong and will help lead Hakuswap to become one of the top Dexes on Avalanche!
I am Hakusan, the CEO and Founder of Hakuswap.com! Our team is comprised of a number of professional developers, marketers, community managers, and seasoned Defi traders.
🚀 My Role within the project is the CEO and Founder of HakuSwap. I have an extensive background in Finance, Entrepreneurship, and Team Building, having worked on many defi projects prior to HakuSwap creating tens of millions in value for token holders.
All of our team have worked on a number of projects in the past. 🚀 We know how to build safe and high yielding investments for the Defi community.
@GPVVKING: Great introduction to hear, especially about the past experiences and as team size. Perfect to start a project. Looking forward to an amazing launch then ;)
Out of curiosity, why did you choose this name? Is there any backup history?
@thehakusan: Dexes need to be strong to handle high traffic and web load and safe for all users to learn so we searched for the best theme that represented that.
⛰Haku Mountain is one of the three holy mountains from Japan and we felt it stood for exactly what we wanted to build, so please join us at Hakuswap.com!
@GPVVKING: Nice idea😍 very good choice and also easy to remember as name. Short and simple in all languages. Talking about the project. Key question: please explain us the Hakuswap concept!
@thehakusan: Hakuswap is a brand new DEX AMM on the Avalanche Blockchain!
🤑We offer the lowest fees with the highest possible APRS! We have the best features to ensure our community has a great experience with swapping and earning at Hakuswap.com! 💪Our exchange combines the best features from Pancakeswap, Spookyswap, and Trader Joe to give investors low fee swaps, fee sharing with our xHAKU staking pool, NFTs, Metaverse, Virtual Real Estate, NFT staking, and more!
@GPVVKING: Looking forward to test it out completed 🤝 Nice introduction, we will go more in depth during the ama. Will you tell us more about which is the use case of $HAKU?
@thehakusan: HAKU is the liquidity incentive, governance, and fee sharing token for the Hakuswap.com Dex!
We plan to roll out the following features and all will either use HAKU to complete the transaction or HAKU will earn from the fees associated with the actions.
✅25% of the DEX trading revenue from the 0.2% swap fee will automatically be shared with HAKU stakers in the xHAKU pool.
✅NFT sales will be in AVAX or HAKU. AVAX sales will be used to buy and share HAKU with xHAKU stakers.
✅ Virtual real estate Land sales will be done with HAKU
✅Governance will use HAKU and xHAKU. You can vote on the future of hakuswap.com using your holdings.
One of the best features at Hakuswap is our staking program called xHAKU. Here HAKU can be staked to xHAKU earn 25% of all the trading revenue from Hakuswap automatically.
How it works is this: Every time a user trades they are charged a low swap fee of only 0.2%. 0.1% of the swap fee is rewarded back to the liquidity providers, 0.05% of the swap fee is collected for the
Hakuswap Treasury to fund operations, and 0.05% is reserved for xHAKU.
One or 2 times daily the 0.05% from the swap fee is collected and used to market buy HAKU!
This market purchased HAKU is done automatically with our smart contracts
Along with the continuous market purchases of HAKU through the swap fees there is a 30 day waiting period to unstake from xHAKU to HAKU.
You can unstake at any time but if it’s done within 30 days a 4% fee is assessed.
🔥2% of the withdraw is burned
👨👩👦👦2% of the withdraw is shared back with xHAKU
This will incentivize long term xHAKU holding. We envision 70% of the circulating supply to be locked with xHAKU very soon. 🚀
@GPVVKING: Oh that’s very interesting. Really cool use cases. Especially as revenue token looking at past AMAs that we had here, where the best performing tokens was that ones with a continue buy back mechanism.
Btw, How a project can be “listed” on your dex?
@thehakusan: Well as a Dex anyone can open a liquidity pool to trade ANY token. However, to be formally listed and promoted on the hakuswap.com domain the project/token needs to apply via our partnership portal.
We are building Hakuswap to be THE dex for NFT and Metaverse project to host their liquidity and be their trading center.
Apply here! https://docs.google.com/forms/d/e/1FAIpQLSePw9y_LsviBJTPSMH2rTXfMb4LD7c0TSdtwY1KHZRTgXdJJw/viewform
@GPVVKING: Excellent confirmation to hear. Taking about the NFTs, please tell us more about your plans on them!
@thehakusan: NFTs are the focus of our exchange and we’ll be sure to make it easy for the average user to earn a few free NFTS at Hakuswap!
You can check our road map here: https://docs.hakuswap.com/roadmap. Most of it is NFT related 😉
The Focus of Hakuswap will be to incorporate low fee swaps, high liquidity, nfts & the metaverse. We want to attract all the best play to earn, nft, and metaverse projects on AVAX and beyond to join us.
Our team is hard at work designing a virtual world based in japan which will be available for purchase! You’ll be able to own your own parcel of “Haku Mountain”!
Our first play to earn game is in development and should be released in a few weeks. It’s a battle between the Spiritual Mountain Monks of Mount Haku vs the Dark Valley Ninjas!
@GPVVKING: Wow. That could be a message where I can talk about it for hours :D Super excited to see it live!
Will all NFTs has a future use case in the game?
@thehakusan: Not every NFT from Hakuswap will be useable in the game. But i’ll be fun to discover that after doing some activities at hakuswap you’ll start to earn a few free NFTs. We plan to launch this within a month, In fact, 5% of our total HAKU tokens are reserved for NFT staking so you can earn HAKU by staking your NFTs!
We’re also building an NFT market place to users can trade their NFTs using the super low fees on the AVAX blockchain
@GPVVKING: That’s so cool, I honestly think you are the only Dex on Avalanche with these features. At least as global vision from DEX till game.
@thehakusan: We are working to build a seamless transition from dex to play to earn and potentially VR
@GPVVKING: About the “Defi segment” Vaults looks like also as trend in the last period. Do you have in plan to expand with them in the future?
@thehakusan: Absolutely! Our development team has a deep bench of experience building safe and low cost vault products for the community. Our plan to is to assist our partner projects with autocompouding at their protocols to assist with their liquidity at Hakuswap 😁
@GPVVKING: Looking forward to test them out 🤝
Also, What is the token multisender?
@thehakusan: The token multisender is a nifty free tool we built for the avax community. It lets you send AVAX or tokens to multiple people for free! just pay gas costs.
Lets say you are a project and you are hosting a giveaway and need to send your token to 100 people. Writing a script to sending 100 individual transactions is a waste of time and gas. You can use our multisender to quickly disperse those tokens to 100 addresses in 1 free transaction 😁
And our dev team is 80% complete integrating the Anyswap bridge directly into the Hakuswap UI for a super easy way to bridge assets from other chains to Avalanche to make it easy to trade at Hakuswap 😁
@GPVVKING: Very nice that you are just starting to build on Avalanche and you already starting to make FREE tools available for community. About tomorrow, How can we join the presale? Please tell us everything about it!
@thehakusan: We have a great and easy to read guide here https://hakuswap.medium.com/get-ready-for-the-hakuswap-token-sale-a49f9dc4fe4
If anybody has any questions please come ask away in our telegram! we have 24/7 coverage https://t.me/hakuswap
@GPVVKING: Raising will be with USDC.e right?
@thehakusan: That’s right!
@GPVVKING: Perfect! Next is tokenomics! Which is yours and why did you choose it?
@thehakusan: The best place to read on our tokenomics is on our docs page: https://docs.hakuswap.com/product-and-features-guide/haku-tokenomics
We have 100,000,000 HAKU tokens that are set to be fully distributed after 4 years of farming.
Each month HAKU rewards will be decreased by 5% to help combat inflation as the protocol grows.
70,000,000 HAKU is reserved for farming and trade mining. Trade mining means you get PAID to trade! Every trade registered will earn you some HAKU tokens. 🤑
22% or 22,000,000 HAKU is set aside for ecosystem incentives and these over 4 years along side the farming rewards.
8% is reserved for the team that vests over 8 months.
The 70,000,000 HAKU for farming and trade mining breaks down as follows
35M Farming rewards
5M NFT staking Rewards and also play to earn
15M xHAKU rewards
15M Trade Mining Rewards
Hakuswap starts with a circulating supply of only 2.65m HAKU to jumpstart liquidity and some ecosystem rewards. We think our tokenomics are sound and will ensure a high TVL and high volume exchange :)
@GPVVKING: Nothing more to add, everything is very clear. Curious about the trading mining, another good feature that should be used more often in other DEXs
Are there any fees while using HakuSwap?
@thehakusan: The trade mining is pretty simple! The more you trade the more you can earn. Every trade will be logged via the smart contracts and you can claim your earned HAKU at anytime.
The only fees at Hakuswap is going to be our super low trade fee and early withdraw fee from xHAKU staking 📈
Hakuswap trade is 0.2% per swap.
0.1% is rewarded back to liquidity providers.
0.05% is for the Hakuswap treasury to fund operations
0.05% is used to DAILY buy back and share to xHAKU stakers.
HAKU can be staked for xHAKU and will earn daily trading fees via market purchased HAKU. You can unstake at anytime but a 4% fee will be assessed if withdraw before 30 days.
2% of the fee is burned for ever and the other 2% is shared back with xHAKU stakers. This rewards long time stakers 😁
Once our NFT market place is out we plan to offer super low nft trading fees as well and that will benefit xHAKU.
@GPVVKING: From these details I can totally see your experience guys from other projects 😁 Great!
Talking about the security side, the clichè question that we ask in all AMAs: are there any audits done or planned?
@thehakusan: We had all of the Hakuswap contracts audited prior to release by Hash0x. We received a “well secured rating” https://docs.hakuswap.com/audits
We are also in contact with Certik to obtain a second audit after launch. We also want themto review our NFT market place and play to earn games we are developing.
We’re one of the few projects to have literally every contract audited.
@GPVVKING: As I always says in all AMAs. Security always pay off. That being said as I always suggest to everyone is to read the audit. The best way to learn. Do you have a road map or long-term plans that you can share with us?
@thehakusan: https://docs.hakuswap.com/roadmap
Of course! we have an ambitious list we’re building.
Metaverse Integration
Virtual Real Estate
Play to Earn
Trader Profiles
Trade to Earn NFT
NFT Loot Boxes
NFT Staking
Play to Earn Launchpad
DAO
Multichain
Trading Competitions
just to name a few
@GPVVKING: Was needed our favorite gif in this case :D Project looks very ambitious but looking at the people that they are building it I’m very excited it live. Really big expectations on you guys! And the last question will regarding your opinion on Avalanche Chain.
@thehakusan: Avalanche is great! it’s growing rapidly, has super low fees, and big TVL. It is a great chain to build on.
@GPVVKING: Before opening the chat, would you like to add something more?
@thehakusan: Please join our Hakuswap telegram and get ready for our Haku sale tomorrow! https://t.me/hakuswap
@GPVVKING: See ya tomorrow afternoon for the presale! Please share us all future updates!
Live Telegram Community Questions
CQ1. HakuSwap defines itself as a Best DEX AMM on Avalanche. I like assertive projects indeed. But considering how many factors, you are easily stating this on your social media? Will you apply for any “Avalanche Award” activity to enhance this?
@thehakusan: yes of course, we plan to apply for avax rewards :)
CQ2. What is the totally supply of HAKU
@thehakusan: Total supply is 100,000,000 after 4 years
CQ3. I noticed that, unlike other swap projects, HAKUSWAP is the only exchange on Avalanche that focuses on NFTs and Metaverse, why would an exchange focus on NFTs and specifically Metaverse? Is HakuSwap focusing on NFT and Metaverse because a swap project has low revenue?
@thehakusan: NFT and Metaverse is the future and we want to ride that wave 🌊
CQ4. I saw that HakuSwap’s token sale will take place tomorrow, January 17th at 17:00 on https://hakuswap.com/iho, can you give us some information on how we can prepare for this sale? If HakuSwap’s targeted $500,000 Token Sale is realized, can you tell us how you will distribute it, will you allocate resources to development studies?
@thehakusan: We will use half of the raised funds to start the haku-avax liquidity pool.
The remainder will be put towards developing our play to earn games, nft market place, operational expenses like infrastructure, salary, marketing, and will pay for an audit from certik
CQ5. Should we be expecting a native game from Haku which can be inculcate in your future me metaverse plan
@thehakusan: Absolutely! Our first game will be out shortly. It’ll be the battle between the Haku Mountain Monks VS The Dark Valley Ninjas
Great AMA! Thanks so much @GPVVKING And thanks for everyone here who asked these great questions 😊
@GPVVKING: Was a pleasure have you here today and looking forward to a smooth launch!
