Hunny Phase 2
Nobody:
DAOs are Dead, DAOs are not Dead.
3,3 does not work in this selfish world. The idea that Rebase tokens i.e DAO Projects fulfilling their destiny to be a decentralized reserved currency is now vastly and quickly fading away. We need to be the first to lead the charge. This is inevitable.
Do these charts look familiar? Yes, disturbingly familiar and that is what 1 DAO has done to the rest of the DAO Market. We are all too familiar with this now, in board terms, when BTC takes a plunge, the rest of the market takes a plunge too. When Olympus / Wonderland takes a nosedive or is hit with some controversy, it is inevitable, that HunnyDAO takes a hit as well, what are the repercussions? New investors are hesitant, old investors lose faith.
A Spooky Tale
While other DAOs are taking their Treasuries to investments in projects beyond their knowledge and hoping to get a unicorn investment. We think we might have a better value proposition.
The TVL in Fantom (FTM) is increasing at an exponential rate. That only means 1 thing, there is too much liquidity floating out in FTM. Hunny’s aim is to capture this market share, and the potential is freaking huge. What is lacking in the Fantom Chain is a couple of fill-ins that Hunny can bring to the table.
1) A truly decentralised Casino Gaming Platform
2) A DEX that offers Trade Mining, Launchpad, Farming, and the list just goes on.
3) A DEX that offers cross-chain, cross-product compatibility for projects who list with us, a value-added service, and an incentive to attract them and their community.
Imagine the exposure that Hunny will get just by replicating in the FTM Network. Amidst the congestion of BSC, Hunny might have gotten lost in translation, and investors will never truly be exposed to us, let alone invest in a project like Hunny, we believe that FTM can change all that.
Hunny Resilience
If you don’t remember, let us do a quick recap of what Hunny has endured through our journey.
Hunny.Finance got exploited on June 3rd for 216 BNB. We kept going, we didn’t give up, we bounced back higher after the exploit.
Hunny.Finance got exploited once again on 20th Oct 2021 for ~ 9000 BNB, we didn’t give up, we compensated our Users with Hunny on Hunnyplay. We didn’t give up, we kept going.
We aren’t about to give up just yet, it seems like we never will.
We have seen the good times and the bad times with you guys, the strong pillars of our community and we want to continue the good times with our community and that's why we continue fighting, and rest assured, we will breathe new life into Hunny, we believe that every member wants that as well.
The Road Ahead
In order to do that, we have listed out the next steps that Hunny will take in order to get things moving.
1) Take a step away from Rebasing
2) Utilise Treasury to build a DEX on FTM Network
3) Utilise Treasury to develop a P2E Game on FTM and partnership with METAMATSURI on a P2E Game on BSC
4) Utilise Treasury to Incubate iGaming Projects
The Current Treasury stands at
BUSD — $1,702,398
USDT — $785,380
LOVE-BUSD LP — $379,971
WBNB ($387) — $352,969
CAKE ($7.10) — $260,230
The more detailed proposal to use the treasury funds is outlined in detail.
1) Building and Providing Liquidity to the DEX — $2,400,000
2) Trade Mining Rewards Pool — $300,000
3) Marketing Expenses for DEX on FTM — $300,000
Total treasury Taken for building DEX = $3,000,000
What are the Implications?
1) $LOVE Tokens Staked as $KISS will be entitled to FTM DEX and HunnyPlay Rewards.
2) The larger proportion that $LOVE/$KISS that you own, the more profits you will get.
3) Deflationary Control Measures
a. Reduction of APY
b. Periodic Buyback and Burn using profits from FTM DEX and HunnyPlay Treasury, therefore
c. The Dual Treasury will only be used for Operational, Marketing and Buyback schemes
In Summary
Moving away from DAO Model and rebasing seems like the most logical choice at this moment. We have taken this decision for the betterment of the community in hopes that we can breathe new life into the project on foreign grounds, with the upcoming developments of the existing ecosystem, we strongly believe that the exposure can bring us to new heights and bring the community the attention and gains it deserves.
TLDR;
1) Hunny is shifting our focus to the DEX and HunnyPlay instead of being known as a rebase token project. We are not, we are far larger than that.
2) Hunny is building a parallel ecosystem on FANTOM NETWORK(FTM) Starting with a DEX.
3) $LOVE Hodlers are entitled to profits in the FANTOM Network just by holding $KISS on the BSC Chain.
4) Dual Treasury will be employed for operational, marketing, and periodic buyback and Burn.
5) HunnyDAO will now strive to be a deflationary model.
6) More LOVE Staked = More Profits from FTM DEX and Hunnyplay
7) WAGMI
Regards,
Hunny Team
