Transcript: HakuSwap AMA with RugDoctor February 5th at 5 PM UTC
@TheRugDoctor: Let’s kick start with an introduction of you and/or your team, which are your past experiences and roles? I think I already gave one away in our announcement.
@thehakusan: First I want to thank you @TheRugDoctor and your team for giving us this opportunity for the AMA! We’re long time RugDoc fans :)
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 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.
Our team has built Jetfuel.Finance, Jetswap.Finance, Fortress.loans, Fastyield.app, and have worked and consulted on a number of other projects.
With a large dev & marketing team we can share resources between all the projects to ensure success long term.
@TheRugDoctor: I have a personal very soft spot for JetSwap. I think most of us here have used so many of these projects you have been a part of and at least I am impressed by your development history. This is really a great set up to have multiple projects with interchangeable resources.
@thehakusan: ❤️We’re always building regardless of the market sentiment. Hakuswaps new features will be deployed back over at Jetswap once the v2 for the Jetfuel ecosystem is completed
@TheRugDoctor: Very cool! I actually take the down markets as time to build. When theres less activity for us reviewing contract code and fewer projets being deployed in a flurry, we like to take a breath and settle in on what comes next. Seems you did too : )
Given your experiences in DeFi development, how did your past experiences developing in DeFi influence this new project?
@thehakusan: As we all know, Defi moves FAST. Every week there can be a new Defi innovation launching and the market is starting to turn to NFT, Metaverse, and Play to Earn games. It seems lately thats all you see people talk about in the chat rooms and see articles about in the news.
There is a perfect fit between an efficient dex & play to earn games + NFTs.
We were fortunate to recruit an artist from one of the top P2E games from an Ethereum project and wanted to build a Play to Earn game on Avax and Hakuswap.com was born!
And once you do it a few times it gets a lot easier to deploy and build safe projects for the community!
@TheRugDoctor: That is awesome- I know its so hard finding good talent in DeFi since there is so much building going on so that is fantastic to hear. Im definitely curious to see how this mesh of a DEX and game turns out. Practice makes perfect.
Well I guess this little bit of background brings us naturally to: With so many apparent moving parts, can you explain this model to us? How does a DEX-game work?
@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.
Features
⛰Lowest Exchange Fee — 0.2% per swap
25% of Swap Revenue Sharing with xHAKU holders
⛰NFT staking and mining
⛰Metaverse expansion
⛰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
The first Play to Earn game we’re developing is a Battle of the Monks of Mount Haku vs The Dark Valley Ninjas. It’s a derivative of the popular wolf.game on Ethereum.
@TheRugDoctor: Interesting! Ah that makes sense! That will be a great game to see off Ethereum with cheaper, faster trasactions.
@thehakusan: The Monks NFTs have the ability to earn HAKU while they’re praying in the temple and the Ninjas are always harrasing and attacking them. To stop the violence the Monks have agreed to pay a tax of their HAKU earnings to the Ninjas but only while in the Temple. If the Monks decide to brave it on their own they can earn more HAKU but also risk losing all of it! and the more powerful NFTs you earn the more likely it is to earn the HAKU and earn more of a share of the pot.
@TheRugDoctor: I love the storyline on this. Which brings me to: How did you choose this name and theme for your project? Any particular inspiration?
@thehakusan:
@TheRugDoctor: This is fantastic
@thehakusan: a preview of the NFTs you can buy and earn during the game. I think they came out really great 😍
Defi needs to run on a strong and trustless system so the team looked for strong symbols to represent the exchange.
Mountains were the obvious choice. They are large, unmovable, and have always existed. Haku Mountain is one of the three holy mountains in Japan. So it made perfect sense to build the exchange around Haku Mountain with Japanese Themes as we develop.
@TheRugDoctor: That makes a lot of sense- I really like the backstory you have here
@thehakusan: The NFTs will be Mountain Monks and Dark Valley Ninjas. Our designer is also building a virtual real estate map with Haku Mountain, Valley Farm lands, houses like Shoin-Zukuri, and many more. You’ll be able to own a piece of the mountain when it’s ready by using your HAKU tokens!
@TheRugDoctor: I see you’re adding in a little metaverse action here too. Very cool- Im also now noticing the mountain at the end of your name.
Lets talk chains-what chain did you launch on? Why did you choose this chains vs others? Will you be expanding to any other chains in the future?
@thehakusan: Hakuswap.com is launching on the Avalanche C-Chain. Our token sale starts on Monday!
We picked Avalanche due to great community, the high quality level of projects, super low & fast transactions. Avalanche TVL has been growing steadily and is a perfect place to deploy this type of project.
Hakuswap is Avalanche only and we do not have plans to go cross chain. The tokenomics are perfect for single chain building. We’ve learned that going cross chain doesn’t work well for a dex.
@TheRugDoctor: Its no secret, I adore Avalanche. Their team is committed and such a fantastic cultivation of talent they have over there. I deeply appreciate their commitment to a safer ecosystem and the projects they choose to invest in, tend to be legitimately good projects.
@thehakusan: The successes from Hakuswap will be pushed to Jetswap and any Jetswap success will also push to Hakuswap. One of the great things about our team is that we’re plugged onto almost all of the major EVM compatible chains so we can move fast.
@TheRugDoctor: That is really interesting! Its also a thought Ive had before that cross chain DEXs generally seem less efficient with a few exceptions and Ive rarely seen better volume on the second crosschain DEX compared to the first one. Im very interested to see how this all plays out with your interconnected projects.
@thehakusan: Yeah it makes things a lot harder and your user base gets spread. Hakuswap goes out on its own to combat this :)
@TheRugDoctor: Can you tell us a little bit about your tokenomics- what are your token utilities and what tokenomics features are built in?
@thehakusan:
The HakuSwap token HAKU is a token that will launch on the Avalanche Blockchain with a 4-year emissions schedule.
HAKU Contract: 0x695fa794d59106cebd40ab5f5ca19f458c723829
(https://snowtrace.io/token/0x695fa794d59106cebd40ab5f5ca19f458c723829)
Max Supply: 100,000,000 HAKU
Public Emissions: 70,000,000 HAKU
Ecosystem Rewards: 22,000,000 HAKU
Team Rewards: 8,000,000 HAKU — locked for 8 months with team.finance
We understand inflation is a killer of projects so we’ve implemented an automatic 5% reduction in monthly rewards, every month for 1,440 day!
@TheRugDoctor: I like a project that controls their emissions. that juicy 10,000% APR starts looking a lot less juicy when the token is -80%
@thehakusan: We have some killer features to incentive trading volume and hodling.
Hakuswap launches with a super low swap fee of only 0.2%
0.1% is rewarded back to the liquidty providers, 0.05% is given to the team to fund operations, and 0.05% is swapped to market buy HAKU and shares with xHAKU stakers.
25% of the exchange revenue will be used to automatically purchase HAKU from the market and it’s sent to xHAKU stakers.
To get xHAKU you must stake your HAKU.
xHAKU is free to move in your wallet and can be used for governance and additional earning opportunities.
There is a 30 day waiting period to withdraw your xHAKU to HAKU with no fee. If you withdraw before 30 days a 4% fee will be assessed. 2% of the fee is burned 🔥& the remaining 2% is shared back to the xHAKU pool. This rewards long term holders.
Traders can earn HAKU via trade mining. There is 0.12 HAKU allocated per second to the trade mining contract. So users can actually get PAID to trade at Hakuswap!
@TheRugDoctor: oooh I like getting paid to trade
@thehakusan: And with NFTs playing a large part in Hakuswap we’ll be released an NFT market place in the next few weeks. HAKU will be a primary asset users can spend to get their NFTs, starting with the Monks vs Ninjas game I talked about a few questions ago 😁
Of course governance will be rolled out and xHAKU & HAKU holders can make their voice heard to determine the outcome of the exchange!
All the info about hakuswap can be found on our docs page https://docs.hakuswap.com/
@TheRugDoctor: I really appreciate that you spent so much time designing the tokenomics of this. Ive definitely been noticing that many of the projects that survive, especially in poorer market conditions, are those that have well planned tokenomics, buy backs, taxes, and incentives.
@thehakusan: yup! our lakesofhaku contract will be doing daily buybacks to share with the xHAKU stakers. it will really help the longevity of the exchange and HAKU token value.
@TheRugDoctor: Buybacks are such an underrated tool. I am glad that buybacks seem to be getting morre popular vs burns. Generally, IMO, gives smoother price action.
@thehakusan: Totally agree
@TheRugDoctor: Well you make a compelling case on your design, but there are a lot of projects out there, so why should an investor go into yours specifically?
@thehakusan: Hakuswap is built to be the premier dex AMM on Avalanche. Our feature list and road map will delivery long term value to not only the Hakuswap Project but also every project we partner with & support.
As a Dex we will work hard to promote and support our partner projects. Their success is our success. You’ll be see a lot of partnerships and liquidity incentives rolled out in the coming weeks as Hakuswap grows.
Our pillars to success is security, high liquidity, and rapid development.
1. Security. Hakuswap is built on battle tested code from Pancakeswap, Babyswap, and Spookyswap. We also ordered two additional audits which you can read here: https://docs.hakuswap.com/audits
2. High Liquidity. The trade mining and low fees will bring high liquidity to Hakuswap. The more traders at the exchange the more liquidity we can achieve. With sound tokenomics the HAKU price will stay high and will give further incentive to stay as a liquidity provider at Hakuswap.
3. Rapid Development. Our team is known to deploy safe and fast code. We’ll stay on top of all the market developments to ensure that Hakuswap is relevant and has all the best features traders and investors are looking for.
@TheRugDoctor: Well thats nice an neatly packaged! I of course am a big fan of the commitment to safety. Also very curious about your partnerships upcoming!
I imagine you’ll officially partner with your established projects and expand outwards to new ones. I see reading through some of your documentation that you “go beyond a DEX” Can you explain what it means to go beyond a DEX and how you are doing that?
@thehakusan: We’ll go beyond the DEX into the Metaverse!
We’re planning to build trader profiles at Hakuswap. You’ll be able to earn you own NFTs for doing certain tasks.
Our play to earn games will be integrated into the Dex as well as all of our metaverse expansions.
We have a large number of projects we can assist with their AVAX liquidity 😁
The first game will be the Monks vs Ninjas and we’re so excited to get it released. We think maybe 1–2 weeks after launch it’ll be ready for the Public
@TheRugDoctor: The more things that can keep track of what I have, the better it is. At this point I don’t even know where all my funds/NFTs/DeFi things are. That’s such a short timeline! That’s amazing!
@thehakusan: debank has been a godsend haha
@TheRugDoctor: So much so. My goodness. I had excel sheets before that and still forgot about things smh.
@thehakusan: All the time 😅
@TheRugDoctor: My final question!! What do you think the future of DeFi is and where do you fit into it?
@thehakusan: I think it’s only up from here. Defi summer kicked off in 2020 to spark this insane revolution we’ve seen and things havn’t slowed down at all. With nearly 215 billion TVL in TVL i think it’s only a matter of time till the market hits $1 trillion in total locked value.
I think NFTs & Metaverse is going to play a large part in the future of Defi and that’s why we’ve positioned Hakuswap to be there to assist the community to take part.
Can you ask 1 more about our HAKU token sale on Monday 😊
@TheRugDoctor: I absolutely agree. I know Facebook has managed to botch its version of a Metaverse (so far), but that the Metaverse will become an integral part of the internet and how we interact with each other. It’s incredible how much DeFi has grown and how quickly.
It’s gone from being this Wild West back country to a dominant financial force. We are seeing more institutional investment, more volume into DeFi, and larger average transactions in the space. I don’t know what the future holds, but I’m very curious about what it will look like and how I can make it safer and more accessible to more people.
@thehakusan: Maybe in a few years they’ll figure it out 😅
@TheRugDoctor: Yes!!!
When is your token sale, what are the key dates to know, and how do we participate?
@thehakusan: Excellent! We are kicking of Hakuswap with a liquidity generation event on Monday February 7th starting at 5 PM UTC!
⛰Sale Price: $0.40 USDC
⛰Raised in USDC.e
⛰Per Wallet Cap: $5000
⛰1,250,000 HAKU for Sale (1.25% of HAKU)
⛰$500,000 USDC Hard Cap
⛰First Come First Serve
⛰The sale is open for 24 hours or until sold out
$500,000 initial HAKU-AVAX liquidity
👉Get ready for the sale here: https://hakuswap.com/iho
625,000 HAKU will be added with $250,000 of AVAX to kickstart the HAKU-AVAX liquidity and ensure sufficient liquidity for swapping.
It’s first come first serve with a 5,000 USDC.e wallet cap.
There is no vesting period so you can claim your tokens as soon as the sale is over.
Farm, trade mining, and staking emissions start at 5 PM UTC on Feb 8th.
Please note that we’re raising with USDC.e!
USDC on avax is a direct mint from circle. USDC.e is a bridged version of USDC from another chain.
@TheRugDoctor: Noted! It was great speaking with you today!
@thehakusan: We also have this guide to make it easy! https://hakuswap.medium.com/get-ready-for-the-hakuswap-token-sale-a49f9dc4fe4
Please read that if you have any questions. It’s been so good being here! We ❤️ Rug Doc
@TheRugDoctor: Always good chatting with you. and seriously if people in chat havent read it yet, especially if they want to make their own project, please read this great guest piece Hakusan/Miro wrote here https://rugdoc.io/education/yield-farm-jetfuel/
@thehakusan:
🌐Official Website: https://hakuswap.com/
📕Docs: https://docs.hakuswap.com/
🐥Twitter: https://twitter.com/hakuswap
🤳Telegram: https://t.me/hakuswap
🔓Audits: https://docs.hakuswap.com/audits
📰Medium: https://hakuswap.medium.com/
🕺https://discord.gg/hakuswap
and be sure to check our communities and links if you have any questions :)
