FAQ April 2023
HGE answers your questions!
- 1.What are further plans for $HADES, only governance or more utilities? If so, what utilities?
Aside from governance, $HADES is the only token allowed to participate in the auctions of our protocol's NFTs. The utility of $HADES will goes into veinHades which will have interest based on how protocol is performing, even if you're just holding $HADES, we have buy back & burn in place, which is as close as it can get to revenue share.
- 2.What exactly is veinHades?
veinHades = VE:vote escrow + IN: insurance.It basically moves all voting from $HADES to veinHades, and veinHades will also act as an insurance pool for $MDS (Midas), only in extreme cases such as all NFTs going to 0 all of a sudden, and we can't liquidate the assets fast enough.We do have some of our own funds to defend the peg before we activate the insurance fund. Making MDS peg is the top priority, which is translated in our liquidation ratio - a drop of only 20% in SMB's price could start liquidation of assets if someone took 100% of the $MDS against his/her SMB. MDS' health IS the main priority.To reach a scenario where we're absolutely unable to liquidate all assets and need to tap into our insurance fund, we really need a blackswan event that is bigger than FTX's crash and sends all NFTs to 0, or like quantum computing can crack all encryptions, or the SOL price goes to 3 USD from 20 right away, then we might be facing those liquidation issues.[emphasizing that it would only be in fringe cases - but that's what insurances are here for!]
- 3.Why are there no more daily tweets about the burned $hades amount?
We received the feedback that our twitter timeline was being spammed by daily burns, so we decided to do them weekly. We can change it back if everyone wants to see daily burns instead of weekly ones!
- 4.Can you give more information about the Launchpad and Dex of Hadeswap? any ETA?
Launchpad and DEX will be not on Solana, that's all I can say.
- 5.When multi chain? Which chains?
We have made changes in team already this month to adjust to our upcoming multichain moves, we'll be focused on chains with bigger liquidity and inventory, so not newer chains or smaller chains. It's pretty easy to guess but... Let's keep some elements of surprise!
- 6.What about ABC name service? What are the plans?
.ABC is operated and run by ANSprotocol, a separate team from hadeswap, they are good builders, I heard big integration coming soon, NFA.
- 7.How is MDS Price getting pegged to 1 USDC?
MDS is a overcollaterized stablecoin, similar to DAI. Where DAI's liquidation ratio usually overs the 150% mark (depending on assets of course), ours is around 267%. Based on those parameters, MDS is technically safer than DAI, but in reality, the NFT liquidity behind MDS is lower than DAI's, as it's backed with heavily liquid fungible tokens, but the concept and logic is no different.Anyone would be willing to buy MDS if it goes below 1 USD, knowing that it's backed with at least 267% of assets.
- 8.Can you explain how MDS works and what it is? and what the plans are for MDS
MDS is a NFT-backed stablecoin that is heavily overcollaterized. A flat fee of 1% goes to the veinHades pool at the moment of minting the MDS tokens, instead of having forever interest run on loans, we open up the liquidity of all your NFTs (that are whitelisted) without having to worry about high APY interests. The plan is to have MDS as the base trading pair of all NFTs, crosschain.
- 9.Are there detailed tokenomics for $hades that explain, why there will be 30k UW, how fast the burning process should be, what's the goal for these burns. How high is the wanted end supply?
The supply is fixed at 30K UW NFTs because we want to have a big community and effective burns for the $HADES token. Auction burning is what is kick starting the burning of the token, but eventually the POL(Protocol-Owned Liquidity) burn should be more than the auction burn, so the auction burn is limited but it buys the protocol enough time to get to the level of being able to produce enough revenue forever to burn more than emissions.
- 10.What utility is Underworld going to have when $hades staking emission are over?
We'll make sure to have a sick PFP as the NFT itself and governance dictactes everything - use it, propose it, get it.
- 11.Will Underworld have an Art Upgrade? If yes, will it be 1/1 or generative, and when?
It will have reveal, so not art upgrade, it will be a PFP, and have 1/1 most likely. Can't communicate a date yet! Patience...
- 12.As a $hades owner, what are the possibilities of HadesDAO controlling this massive pool of liquid assets generating revenue? I think this upside is grossly understated by everyone given people don't fully understand what is POL.
POL is doing that, for HadesDAO assets, since most of it is $HADES token, so diversification of the DAO treasury to more stables is important before we can generate yield on it.But you are right, not many understand it and we're now making efforts to educate further!
- 13.How big is the NFT POL? - is it possible to visualize all the assets that are owned, to show people how big POL is?
Absolutely! You can check out this link to visualize it: https://www.tensor.trade/portfolio?wallet=Fzx2MEY6fuwjoL1g4Mh5D6dcxp24HEcdZ1QsrVxE5sfs
- 14.How much does Hadeswap make daily/weekly? What is the potential of hadeswap for HadesDAO and all the revenue it could generate?
Currently, the protocol makes in the low couple of hundred SOL per day, can be 100 or 300-400, depending on days and volume, solely from NFT MM and lending. The potential is quite high the more volume picks up!
- 15.Is there any future plans about adding pro charts for NFTs in hadeswap? Or some other features that helps a daily trader (like tensor did)?
We listen to community feedback, and will add anything that makes sense, UX/UI isnt our strong suit, but we are dedicated on improving.
- 16.What is the relationship between Tensor and Hadeswap?
Partners. (personal diclosure: I'm ashareholder in Tensor and MagicEden)Hadeswap's goal is always to be the liquidity layer of NFTs, from MM to stable trading pairs.Tensor's integration with hadeswap from front end to bid/ask orders is a huge win-win.
- 17.Tensor is taking a lot of marketshare. Does that hurt Hadeswap?
It doesn't hurt us at all! IF Tensor is Rank 1 in volume instead of MagicEden, what it means is that the Rank 1 retail marketplace has changed from one that doesn't integrate hadeswap to one that does!We don't make fees on volume, as much as we want to be the biggest volume platform, we only have AMM, we're not focused on retail, think of hadeswap as the dark forest providing liquidity to the marketplaces.The focus isn't the same, and we're working closely with Tensor - they're a strong ally that also believes in open platforms and we wish them the best!
- 18.What happened to the Partnership of Phantom and Underworlds (the Game)?
It's currently on hold!
- 19.Can HadesDAO vote to direct the POL to buy a collection, and if so, how much? That would be a massive "utility" for having control of the HadesDAO!
YES and YES!
- 20.Why would I want to buy another another ABC NFT if I already have 1?
Good question, why would you want to have another girlfriend when you already have 1.Many have just one, some have multiple - this is a complex question and it's entirely up to you!
- 21.Why would I want to hold an ABC for the future?
I do not give financial advice, I hope that people see what ABC really is, to its core, the community is unique, and they're digital artifacts that are really cool to collect.
- 22.How long should Hadeswap stay 0% platform fee?
In my opinion, it should be forever, we're already making profit as a 0 % fees protocol, name one other platform that can do this - this is a huge accomplishment imo. We just have to work on increasing protocol revenue while staying at 0%.
- 23.How do the POL bots work?
We're still improving it but basically it will put the best bid and lowest ask on NFTs on hadeswap. So it will try to make profit as well as bringing more volume to hadeswap.It's still an on-going process for our beloved developers to make it work better and better!
- 23.If you could go back in time. Would you have launched $Hades in a different way looking backwards?
Yes, likely drop an IDO, raise more runway for the team and bigger POL.People hated the low circulation, when my intentation was to to make the ABC community privileged in having the token. Even if my intentions were pure & good, they missed the point and even some ABC holders didn't like it. We could have taken VC money + IDO, an easy $20M war chest and nobody would have fudded the low circulation...
- 24.Sidelined SOL that is not being used: Are we able to vote which collections to buy with the sidelined SOL? Or maybe (not sure) can be used to buy and burn $hades? Or maybe buy NFTs that can be raffled on Hades auction site available only for abc/underworld NFT holder?
SOL is being lended out to make APY.Whatever you believe is best for the protocol, you can make a proposal on how to use the funds, always remember any good things you think the protocol should do, get a signal vote in discord or within the community, once you have enough backing for your idea, put in a formal proposal through governance.hadeswap.com and you're good to go!
- 25.What's $HADES' max supply? What's the number of tokens you see available on the market in 2 years from now?
Max supply was 100m , now is 98,458,737.5 after burning - you can do some maths! :D
- 26.When is staking emission going to end?
Exactly 5 years from day 1 of staking.