On November 23th 2021, our community had a chance to welcome Mr. Matt - Founder & Marketing Lead of Hunny Finance to join an AMA to deliver fruitful information about the key features and roadmap of the project.
This AMA was held by CryptoFamily Group – the top crypto community in Vietnam, where investors and traders can obtain the latest news and signals from bot/ admins, as well as discuss and share investment experiences in the crypto space.
Hunny Finance (https://dao.hunny.finance/#/stake) is the most engaging & fun DeFi destination built on BSC, where every user can enjoy high yields & exciting games!
At this AMA, Mr. Matt directly greeted the community and provided detailed information on the project as well as some exciting events that will be held in the near future.
Time: 20:00 PM (UTC+7) | Tuesday, 23-11-2021
Reward Pool: 200$ for members with the best questions.
Below are some main points of this AMA session:
PART I: INTRODUCTION OF HUNNY FINANCE:
1.Please make a brief introduction of Hunny Finance. How was the idea of the project born?
Mr. Matt: Hunny Finance started off as a DeFi platform back in June 2021, more specifically, a yield optimizer built on Binance Smart Chain (BSC). We offer one of the highest returns in the BSC DeFi space. Our codes and smart contracts are audited by one of the most reputable blockchain audit firms, CertiK, and further enhanced our smart contract security with Certik Skynet and Certik Shield.
More than a DeFi destination with high yields, we have recently launched our integrated gaming portal - HunnyPlay, users can look forward to an immersive experience, playing instantly simply by connecting your wallet to HunnyPlay. Also, in additional to HunnyPlay, HunnyPoker, P2P poker platform on BSC will go live this month as well!
In October, Hunny’s NFT journey began, starting with sales of our limited HunnyBunny NFTs followed by HunnyMarketplace where users can buy, sell or auction their NFTs. We are also expecting our NFT P2E game! This is to create an engaging ecosystem where our users can Stake, Earn & Play.
Lastly, our latest addition to Hunny’s ecosystem, which is also the core topic of tonight, HunnyDAO - The first DAO on BSC backed by DUAL TREASURY RESERVES! It was started last week with APY of around 200,000%, and price that surged from $14 to over $100 on launch.
In a nutshell, we are: A Yield Optimizer, HunnyDAO, HunnyPlay that integrates i-gaming such as slots, live games etc, HunnyPoker, NFT Marketplace, NFT Staking Vault”, NFT P2E game, and distributing our overall profits via HunnyJar**.
2. Could you please tell me the mission and vision of Hunny Finance in the near future?
Mr. Matt: Hunny was created with the vision of being the one-stop DeFi platform built on BSC, offering users one of, if not, the best yields in the farming scene while providing a unique and entertaining experience where users can try their luck at HunnyPlay, offering a wide array of games of chance.
We will launch our HunnyPoker V2.0, which is a P2P version of poker where you can start a table to play with your friends. Here’s a sneak peak to our HunnyPoker v2.
Future plans would include the expansion of our farms, offering cross-chain farming options and creating further diversified farming pools where users can have a more balanced portfolio within a single pool.
Stake Cake to earn LOVE coming soon.
We will also be expanding on our overall P2E game infrastructure as well as increasing more games, features and functions within HunnyPlay. We aim to be the leader in the space of DeFi yield farming, more than that, we want to present to the world an unprecedented DeFi ecosystem consisting of farming, gaming and all other investment possibilities built on-chain.
CF: Sound interesting sir. The last overview question:
3. Please update some hot event or incentive programs to engage with more users.
Mr Matt: Let me tell you more about the our latest launch HunnyDAO
HunnyDAO is a fork of OlympusDAO with the obvious flair of Hunny. Being users of OlympusDAO ourselves, we understand how expensive the fees can get being on Ethereum chain, so we decided to bring the fun over to BSC given its low fees. The conventional decentralized reserved currency protocol is backed with 1 treasury, HunnyDAO is backed with 2, the first one being the main treasury where users bond their tokens in exchange for LOVE, the second one being revenue generated by Hunny, including one of our core revenue centres, HunnyPlay and HunnyPoker. The second treasury will be activated in the event of LOVE falling below the floor price and our primary treasury is unable to support the required buyback of LOVE. This move will provide an additional layer of support to the floor price of LOVE. The main benefit for users comes from supply growth, the protocol mints LOVE and distribute to the stakers, thus the gain for stakers will come from their auto-compounding balances. LOVE could trade at a very high price because the market is ready to pay a hefty premium to capture a percentage of the current market capitalization. The main benefit for users comes from supply growth, the protocol mints LOVE and distribute to the stakers, thus the gain for stakers will come from their auto-compounding balances. LOVE could trade at a very high price because the market is ready to pay a hefty premium to capture a percentage of the current market capitalization.
Featured DAO Comparison https://twitter.com/Gems_Street/status/1462640811900747779?s=20.
HunnyDAO’s APY be 200,000%.
Users can expect about 2% of staking rewards a day. Our current rebase rate sits at 0.6913% which happens every 8 hours. If there are 100,000 LOVE staked right now, the protocol will need to mint an additional 4000 LOVE to sustain this daily growth. This is achievable if the protocol can bring in 4,000 BUSD worth of tokens into the treasury from bond sales. If the bonding amount falls short, the APY of 200,000% cannot be guaranteed and have to be adjusted.
Soon, we will be introducing further mechanisms to leverage on Treasury to provide an accelerated rate of return for users, do follow us on our Twitter (https://twitter.com/HunnyFinance), Telegram (https://t.me/hunnyfinance )or Discord (https://discord.gg/d4fxKZFxPv) to get the latest updates and announcements.
PART II: PRE-COLLECTED QUESTIONS FROM TWITTER
When an creator of NFT or content wants to be part of his project, I assume that he must complete forms to formalize the entrance to the platform, how Hunny handles the information,as well as that of the token buyers,what is the level of security and confidentiality of this data?
Mr Matt: There is no need for users to provide any of their personal particulars to list their NFTs on HunnyMarketplace, as such, there is no risk of exposing any individuals’ personal data. Apologies if we understood the question wrongly, if you are asking about how a user can list his own NFT creation on Hunny’s NFT marketplace, currently our marketplace only allows the sale of Hunny’s NFTs. We are currently working on the next phase of our marketplace where users can come and post their personal NFTs for auction or sale. As everything is running on chain, the transparency of every transaction are in place. We also do understand that there might be knock offs of certain valuable NFTs and we will be keeping tabs on such frauds.
2. From @ashik05359325
World is an NFT blockchain game. Most NFT games only focus on profits with P2E, as this is one of the major attractions of blockchain games. So, does Red heart#HunnyFinanceRed heart World focus more on the player experience in and out of the games to create a balance for playing and winning?
Mr Matt: We are well aware of the current trend of P2E games, and definitely aim to strike a balance in both players’ experience and earning potential. Once we have finalized the details we will share more information with the rest of our community.
3. From @duetdaily
During community development, do you consider community feedback or requests? What is your target customer? Could you share with us the marketing plan to raise the awareness of Hunny Finance in this huge crypto market?
Mr Matt: We have listed what we've done so far and our upcoming plans for Hunny, HunnyDAO and HunnyPlay. We are constantly looking for effective ways to advertise. You can find that we are very frequently mentioned as top hidden gems projects and safest score from well-known accounts like bsc_daily, Gems_Radar, CryptoCrunchApp, GenxAnalytics etc.
1) Sharing words in AMA communities like telegram, discords, wechats FB groups and discords
2) Press releases in higher traffic crypto sites
3) Reaching out to influencers like YouTubers and Crypto Twitter, Twitch and Tiktoks
4) Ads advertising like Poocoin, Dextools, Coinzilla, FB and Google
5) Partnership with trusted projects like Chainlink, Babyswap and Venus Protocol.
6) Constant promotions in HunnyPlay and giveaways for Hunny
Do share with us any interesting or good marketing channels you know of, our marketing team will gauge if the ROI for the channel is effective.
If you have marketing suggestions, feel free to contact us at marketing (at) hunny.finance
4. From @Andreas04567388
I see that Hunny Finance has a dual token mechanism, $HUNNY and $LOVE, still wondering how you will control the price value of the two tokens so that there will be no inflation of both, hope you share with us the use of $HUNNY and $LOVE in the Ecosystem Hunny Finance?
Mr Matt: Firstly, let me touch on our main native token, HUNNY. HUNNY has a max supply cap of 100 million, once 100 million supply is reached we will stop minting and Hunny farms will be solely reliant on Hunny ecosystem’s revenue to generate APY for our farms. Of course not forgetting that the burning will continue. We are currently sitting at 53 million supply. The reason why we decided to cap our supply at 100 million instead of any amount lower is because we need time for our projects such as HunnyPlay, HunnyPoker, HunnyDAO and NFT marketplace to mature. Therefore, we will be able to sustain a healthy APY for our users and also, to allow growth in the price of HUNNY.
Now let’s get to LOVE token, LOVE tokens are backed by HunnyDAO’s Treasury. Although the supply of LOVE is uncapped unlike HUNNY, at any point if LOVE’s price falls below its floor price, the treasury can be activated to buy back LOVE to its floor price.
We will soon be introducing a new farm where users can stake other assets to earn LOVE, users can expect a very high APY for such farms on Hunny.Finance.
An official announcement will be made in our community once all details are finalised. Please do join our Telegram hunnyfinance (https://t.me/hunnyfinance) and Discord (https://discord.gg/d4fxKZFxPv) channel to get all latest updates.
And you can join our Hunny Vietnamese (https://t.me/HunnyFinance_vn) Commnity as well
5. From @ImranBDLT
What are the future investment prospects of the project? and Where is the best places to buy your tokens? Is it too late now for us to buy? What benefits I get for buying and hodling tokens for long term?
Mr. Matt: As mentioned, Hunny ecosystem revolves around many revenue generating projects such as HunnyPlay, Hunny Finance, HunnyMarketplace, HunnyPoker etc. Each project brings revenue to the table and ensures sustainability and growth. For now, the obvious benefits would be the insanely high yield from HunnyDAO, generating an APY of around 200,000% and is only a few days old. The price of LOVE shot up from $14 to more than $100 on the first day and is continuing to grow.
Check us out at https://dao.hunny.finance and click on the price to redirect to Pancakeswap. The longer you stake LOVE, the more compounding rewards will be given to you given the high APY. On top of that, you can get LOVE at a cheaper price with bonding, which also means you get more in value.
See how you can be a millionaire by staking 5 LOVE in a year assuming LOVE price is constant https://docs.google.com/spreadsheets/d/16nufWc9a5glRx85-h6s5FS97-Aca97q-jU3D1s59Gww/edit#gid=1032613482
This is very interesting, do take some time to play with it.
CF: Appreciate the fruitful information you have provided. Sounds really exciting
Much appreciation to all the insightful answers from our Guests. The community must be really interested in becoming part of Hunny Finance
Let's continue with the last part of today's AMA: Live questions
In this free-asking part, all members will have 2 minutes to make questions for our Guests today. Feel free to ask and he will explain gradually in his answers.
PART III: BEST LIVE QUESTIONS IN CRYPTOFAMILY GROUP
1.What plans do you have for new user and non crypto investor to attract towards your platform? what challenges do you see?
Mr. Matt: As you may feel it too, one month in the Defi space does feel like a year, we are constantly trying to keep up with the ever changing trend. Having to assess risk for each integration we are venturing into. I would say the biggest challenge for Hunny is development. As the majority of products from Hunny are built and designed from scratch, having to keep up with the markets is always the biggest challenge for us. However, we have been able to keep up with the deadline and deliver so far except for some occasional delays. Needless to say, manpower, especially talents, is really scarce, it would be definitely helpful if we can scale up our team.
2.Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?
Mr. Matt: I believe our core attraction would be the utilities that we bring to our users, more importantly, the experience users will have with Hunny. A one stop destination where you can farm for more profits, win some Hunny in HunnyPlay if you’re feeling lucky and through our upcoming NFT marketplace, you can store, buy/sell, auction your favourite NFTs, not only that, you can create and mint your own NFTs and get them up for sale at marketplace. If you are passionate about Yield farming, trying your luck at HunnyPlay.com, enjoy a game of wits through Poker, and even NFTs. your should definitely check out HUNNY!
3. You plan to release your DAO system to the market, which means that Crafting finance will become a distributed project. So, can you give more details about this DAO system? What will the future of Crafting finance look like as it becomes a distributed project?
Mr. Matt: We can achieve when everyone does 3,3 in HunnyDAO. So what is 3,3?
3,3 is the idea that if everyone works in unity, it will stand to have the biggest gains for everyone. This logic is based on the Game Theory standpoint. To understand the game theory better, you can check out this youtube link to get a better picture.
Staking and bonding is considered beneficial to the protocol, while selling for a profit will enhance one’s personal gains, these gains can be far stretched if everyone stakes and bonds. The ideology of 3,3 is to encourage everyone to stake or bond instead of selling and this will result in the increase of LOVE price.
4. Many new projects make a good impression at first but are suddenly abandoned. My question is, how will you manage the project and the token to get a position in the market and become the best token in the crypto world?
Mr. Matt: LOVE is the native token of HunnyDAO, and it’s NOT a stablecoin. Similar to the gold standard, LOVE provides a free floating value its users can always fall back on, simply because of the fractional treasury reserves LOVE draws its intrinsic value from.
When you stake, you lock LOVE and will receive an equal amount of KISS. Your KISS balance rebases up automatically at the end of every epoch. When you unstake, your KISS will be returned to the contract and you will receive an equal amount of LOVE tokens.
5. Revenue is an important aspect for all projects to survive and sustain. So how does your project plan to generate profit and revenue?
Mr Matt: One of our revenue generating product is HunnyPlay. HunnyPlay aims to be the most engaging and fun destination built on Binance Smart Chain (BSC). We are developing a brand new and unprecedented gamified farming playground where every user can enjoy high yields and exciting games at the same time.
HunnyPlay is our very own gaming playground with all settlements/payments integrated on BSC (and soon, on more chains) for a transparent and secure way of online gaming. You can find a whole load of games packed into HunnyPlay such as Slots, Bingo, Money Wheel, Deal or No Deal, Blackjack, Roulette, Baccarat, Sic Bo, Poker, RNG, LIVE games and virtual sport games.
All earnings received from HunnyPlay games will be split into portions, one to be burnt, one to cover the cost/expenses and the remaining will go into the HunnyJar which will be distributed amongst our valued members (BumbleBees & HunnyBees).
Recently we have included an awesome VIP Cashback Program that can go up to 28% cashback, highest in the iGaming scene. Players can also participate in our Referral Program to earn all referrals 1.5% on winnings bets. So regardless of whether you win or lose, everyone wins something.
CF: Thank you so much for taking your time to join our AMA today, as well as thanks our members for rasing hundreds of good questions for the project.
Seems like there're many things to learn more, but I'm afraid the time is up now. For all of the questions that have not been answered yet, guys feel free to search for more information on the links provided below:
➡️ Telegram: https://t.me/hunnyfinance
➡️ Discord: https://discord.gg/d4fxKZFxPv