FAQ May 2023 (Office Hour Summary)
HGE answers your questions!
- 1.Is there any scheduled date for vehades?
Townhall answer (Friday 19/5): May without delay.
- 2.What is exactly Ecofund?
Ecofund is a fund meant to be used to invest in projects that benefit directly the ecosystem, not necessarily hadeswap itself. Current governance proposal made it so that the Ecofund would be used to market buy Underworld NFTs. This fund is fueled by the POL profits (10%).
- 3.Is there a scheduled date or minimum amount of UW that must be minted(auctioned) for the reveal to occur (wen reveal?)
There isn't, no. We'll communicate more on this but... Be prepared for something that hasn't been done yet on Solana nor anywhere else... ⬛
- 4.If hadeswap doesn't charge any fees how does it make its profit for sustaining and continuous development of the project?
Well, we have our sugar daddy, right?!Just kidding! The protocol itself is making money by market making, although right now 100% is used to buyback & burn $HADES, fuel the Ecofund and distribute to the veinHades pool. If at any moment in time the team has issue with funding, a proposal to redirect some of the protocol's profit can always be put in place to help the team's funding and keep on developing. Don't see it happen anytime soon though - we have an efficient small team of grinders!
- 5.Can a proposal be made and voted upon to reduce the supply of UW NFTs or it's already a fixed supply that can't be changed?
Supply is 30K and preminted, you can vote to burn some of it, but 30K might be there for a good reason... Then again, if governance decides something and gets traction, we're more than happy to support.
- 6.Can we get clarity on the SMB sale and where the proceeds went? Are they in a hadesdao wallet or held by HGE?
The total expected amount of money is $2M USDC. We have received the first $1M. The money was sent to the hadeswap team multisig and a proposal recently passed to be enable HGE to recover the funds put in previously for the acquisition, minus $100,000 that go to the Hadeswap team (operational expenses).
- 7.Will there be rarities for UW which could increase the number of emission?
Nope! Emissions are the same regardless of rarity.
- 8.What happens to the yield earned by providing liquidity for $HADES?
If you're providing liquidity for $hades token on dex, you will earn the trading fees, but do understand Impermanent Loss (IL) before providing liquidity, you could end up with more SOL or more HADES when price going one side only.
- 9.What's $hades supply ultimate goal? What's the number of tokens you see available on market in 2 years from now?
If a bull market comes, or we successfully implement and find product market fit on other chain just like what we did on Solana, that revolutionized how NFTs trade on Solana, I think around 10-35% burned by 2 years time seems like a good guess.
- 10.Will UW have voting power? Like holding the NFT equals to 1000 hades for example voting power?
Voting power is only in $veinHADES, not $HADES, no UW. But owning UW NFTs implies you're getting $HADES emissions, and you can stake those tokens into the $veinHADES pool to get voting power and yield from the pool.
- 11.Is the scope of utilizing POL limited to strategies involving NFTs or could funds be deployed generate revenue from farming tokens or even investing in raises being conducted by other protocols/projects?
It could be anything, it's liquidity owned by protocol, managed by team and we accept proposals via governance.
- 12.Could you provide/speak on the vesting process a bit more to make it easier for people to understand (team vesting that provides an incentive for them to hold.)
Absolutely! So let's say User A in the team doesn't sell a single token for 2 years, then he will have unlocked all his token by the end of the 2 years. If he sells each month, the vesting could stretch for years beyond the 2 years.The monthly distribution increases each month by 10% on the previous month's amount. If any amount is sold at any given time, the distribution "goes back" to that month.Example (not using 10% increase here, just using a simple example) Month 1 = 2Month 2 = 4Month 3 = 8Month 4 = 16, etc.If at the end of the 4th month, the user decides to sell 24 out of the accumulated 30, the emission for his month #5 will be equal to 8 (as he goes "back" to a previous level of accumulation).
- 13.A Dashboard with all contributors of Hadeswap would be cool (suggestion)
Agreed! Will be done for sure - thank you for the suggestion!
- 14.What will you do with the ABC NFTs in the POL when the warp will take place?
We might warp as well, who knows what cool sh*t we'll decide to build on the other side?! ;)
- 15.Add an escrow wallet like tensor did (suggestion) would also help the POL.
Question asked by Sax - clarification on-going in DMs to understand the concept of the idea better (23/5/2023).
- 16.When multichain and which chain? Ordinals volume is mooning.
We've been working on Ordinals for a bit now...
- 17.If hadeswap expands multichains, will it do new bonds on the other chains to expand the POL aswell?
- 18.When DEX and how will it benefit hades/what makes it special in comparison to other DEX's?
DEX won't be on Solana. We're very good at providing liquidity thanks to our inventory, which is the main strength for DEXs on any chain really. Liquidity attracts liquidity!
- 19.When Launchpad? And please give more information about the launchpad!
There are a lot of moving factors internally, on what we have decided to prioritize and we wish we could share some more on those but we don't want to cause delays or give too high of expectations without having it ready to launch. Let's give it some more time...
- 20.Is there anything planned for Bonding we can know of? Plans to bring RWA to Hades?
We have recently improved our homepage with more stats to track the POL, better dashboards and such, and we consider all NFTs being high risk assets.
- 21."Why not make the UW auctions predictable and favorable to early investors? (like bitcoin). Example: - 100 auctions per day until 15k NFT supply.
- 50 auctions per day until 22,5k NFT supply.
- 25 auctions per day until 26.250 NFT supply.
- 10 auctions until 30k NFT supply."
Yes, it will be similar to this, once the supply has been reduced, the number of auctions will also significantly reduce, the ABC NFT warp will be increasing the circulating supply by max 10,000 (if everyone warps), and therefore the supply on auctions will be reduced per day.