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Colony AMA#1 — Project Overview with Wessal Er (Recap)
On 12/01/2021 at 12:00 p.m. (PST), an AMA session was held on Avalaunch with special guest Wessal Er, Chief Marketing Officer, at Colony. Below we present to you an excerpt from AMA with questions and answers.
Dave Donnenfeld | Avalaunch
Hello and welcome to our first AMA with none other than Colony Lab. This heavily anticipated project turns tokenomics on its head and we believe it is going to be a pillar in the Avalanche Community. Today, we have Wessal Er, Colony’s CMO as our guest. Glad you could join us today Wessal, how are you? Ready to lock horns with our Avalaunch faithful?
Wessal Er | Colony
Hello everyone! Thanks for having me today. I’m very excited for this AMA session!
Dave Donnenfeld | Avalaunch
Excellent. Good to have you. Given your excitement, I won’t make you wait for the first question. To begin with, please give us a little bit of background about yourself. What did your career look like before joining the blockchain space?
Wessal Er | Colony
We’ve been waiting for this AMA to engage with your community for a while, so yes, I’m pretty excited.😄
I was actually a Sourcing Manager and data analyst in the Nuclear field for a while.
As a libertarian I’ve been seduced by the blockchain a few years ago and when I dug deeper into it, well I was here to stay.
I started as a simple investor and throughout the years, I became more involved and helped some projects with their market research and building marketing strategies based on that. That’s how I ended up joining Colony’s team!
Dave Donnenfeld | Avalaunch
I think a lot of people from the nuclear field world have transitioned to the blockchain. Not 🙂 It’s an interesting path you’ve taken to be sure and the team itself is pretty varied in background. To that end, how did this dynamic and well rounded team come together to build Colony in the shape and light that it is today?
Wessal Er | Colony
That’s very true, the team members have varied backgrounds. Not sure they were excepting a nuclear expert to join at a certain point, but it happened.😄
Colony’s core team is mostly composed of experts with decades of experience and pedigree in the blockchain, and traditional finance space. The team founded ExoAlpha a few years ago, a systematic crypto Hedge Fund that has amassed a trading volume of half a billion dollars per month.
With decades of experience and having already worked together, they were more than ready to take on a new challenge. A challenge led on Avalanche, a blockchain that the whole team was following since its very beginning and supported for its great technological breakthrough. (the first true innovation since Nakamoto consensus 😉)
The vocation was to create a completely unique approach to accelerate the growth of Avalanche’s ecosystem 🔺 while putting the community at the very heart of its mechanism.
And as a DeFi enthusiast.. when I first heard about their project and vision, I absolutely loved it and joined them a few months ago to bring the right support regarding the Marketing front.
(Fun fact: the total years of experience combined of the team is about 70 years 😄.. it makes some of them feel old.)
Dave Donnenfeld | Avalaunch
Thank you for the thorough and informative answer…The first true innovation since Nakamoto with the approach to consensus. High-minded stuff indeed and the Rocket paper is lore at this point and rightly so. This is a community initiative to be sure and an innovative one at that. With respect to the raison d’etre, the spark behind it all — At what point did the team decide to fill in this market gap of helping communities and team building projects reach their goals by providing this central hub of support?
Wessal Er | Colony
That’s a great question.
Not only every member of the team has been involved in finance or crypto since the very beginning, but they are rather pretty active within the community today. Keeping an eye at the innovative emerging projects, but also, facing the constraints of the crypto space. It’s known that institutional investors and VCs dominate early-access deals of emerging projects and leave retail investors the declining action during the public sale rounds. Why are everyday DeFi enthusiasts losing out on wholesale prices and paying the mainstream consumer rate for tokens?
We have noticed the lack of community-funded accelerators in the blockchain ecosystem, and we wanted to create a mechanism that puts Community as the beating heart of its strategy.
Our motto is pretty forward “Community at core for a truly decentralized and democratized financial ecosystem.”
So you might have guessed it already… projects will thus be provided with an initial community from the get-go! In addition to the funding and the community, there are other critical pillars that condition early-stage projects’ success: community, marketing, tech expertise, momentum, and of course, network. Colony is bound to cover all these elements to bring the right customized support.
Dave Donnenfeld | Avalaunch
Thank you again. How does Colony fit in the current landscape of incubators and accelerators? What is the competitive edge that Colony has over similar competitors in the space?
Wessal Er | Colony
This a first in the entire crypto space. Our inclusive DAO introduces a new concept: Ecosystem Farming. Colony, as an Avalanche accelerator, allows investors, thanks to one coin ($CLY), to access the growth of an entire ecosystem (Avalanche). 🔺
As I said earlier, for the average investor, it seems almost impossible to invest into projects while they are still in their early stages. These types of investments are generally restricted to VCs, angel Investors, and so on. Colony conceptualized a revolutionary approach, in which this gap can be bridged.
From the start, governance will be actually given to the community with strong incentives aligned with the long-term growth of the ecosystem. And of course, all the created value will be rerouted back to the community, through: Avalanche staking rewards, Liquidity provider rewards and Tokens via airdrop of early-stage Colony funded projects.
This is very aligned with Avalanche values “Community first”.
So besides the fact that the community will have a seat next to big Vcs, the community has between its hands the power of voting and influence (sharing deal-flow, projects analysis, capital allocation decision making, etc..). They’ll be the one running Colony.
Projects will be provided with a community from the get-go in addition to funding, network, tech expertise and marketing support.
Dave Donnenfeld | Avalaunch
Ecosystem farming is conceptually speaking very cool. Exposure to a burgeoning base chain through a single token. Can you talk to us about the mechanisms behind Colony, and what plans are there in place to help Colony achieve this deal flow?
Wessal Er | Colony
We’ve established very close ties with the strategic key players in the ecosystem such as: The Avalanche foundation , Ava labs, Avalaunch, and so on.. We’ll be sharing deal flow with these experts in the field and working alongside them to empower projects building on Avalanche to reach their full potential. As for our Liquidity Providing program for example, we’re working closely with Yield Yak and other players.
In addition to that, our backers, such as Shima, Hashkey, Synaps.. who got visibility on different ecosystems & the latest innovations, are of great value as well.
But the best part about Colony’s deal flow mechanisms, we place our Community at the very heart of it. Community will be able to upload projects and their information on our application, and following that there will be project analysis, again done by the community with the help of Colony’s Analysts team. At Colony, we highly encourage our community to provide ideas to increase the Accelerator participation in the ecosystem.
Dave Donnenfeld | Avalaunch
Colony presents itself as a hub of community-driven support. Can you give us a high level overview of how the value is returned to token holders?
Wessal Er | Colony
As I said earlier all the created value will be rerouted back to the community, through: Avalanche staking rewards, Liquidity provider rewards and Tokens via airdrops of early-stage Colony funded projects.
Dave Donnenfeld | Avalaunch
Nice graphic and that is straight forward. Can you tell us a little bit more about the $CLY token. How its utility extends beyond that of a token and access to governance rights?
Wessal Er | Colony
Of course. This joins what I was saying earlier. From the start, governance will be actually given to the community. What our community needs to understand is that they will be the ones leading:
🔹Voting:
• Changing the fund Capital allocation.
• Changing the Liquidity Provider program capital allocation.
• Liquidation of token positions.
• Changing index rules, working principles, constituents, etc🔹Influence:
• Sharing Deal Flow with Colony’s Analysts Team.
• Providing Analysis on projects.
• Providing ideas to increase the fund’s participation in the ecosystem.Dave Donnenfeld | Avalaunch
The next one goes out to the HODLers with fundamentals in mind — What are the key milestones that token holders should look forward to 6 to 12 months after the public launch?
Wessal Er | Colony
Well, first of all, the community can expect the following : Avalanche staking rewards, Liquidity provider rewards and tokens via airdrops of early-stage Colony funded projects.
Other features of the Application will be available in the next 6–12 months such as the deal flow sharing/analysis and the voting mechanisms.
We’re also implementing Colony’s studio which is a platform where supply meets demand regarding developers or marketing experts. One can add his/her information, experiences and key competencies and see if he/she meets a demand. Projects can scroll through and discover these experts profiles easily. We want to create a hub to facilitate networking to build on Avalanche.
Pretty exciting stuff ahead of us.
There is plenty of stuff I could talk about, but I’d love to share these in more detail with our community in the coming weeks/months! 😊
Dave Donnenfeld | Avalaunch
Look forward to that as well. Changing gears and getting a little personal — As a CMO, team member and nuclear defector…what excites you most about Colony, is there a particular feature, milestone or aspect perhaps, that you’re excited about and looking forward to?
Wessal Er | Colony
Simply put? The inclusiveness of our DAO and this new revolutionary concept we’re introducing called Ecosystem Farming, are one of the things that excites me the most about our project.
It’s a completely new approach in the crypto space and all we want to do is put community at core, to create a truly decentralized and democratized financial ecosystem.
I was never a fan of the gatekeeping by the big Vcs and institutional investors,dominating early-access deals of emerging projects and leaving retail investors out of these opportunities. DeFi for me is first of all about decentralization and making financial opportunities more accessible to large populations (to the underserved and unbanked as well) and that would be starting from giving community access to seed/private rounds of early-stage projects.
Dave Donnenfeld | Avalaunch
Ecosystem farming does have a ring to it.
Now…final question before we move on to the good people’s queries from the Twitterverse at which point, all freedom shall be abandoned — are there any last points you’d like to discuss, or share with the Avalaunch community?
Wessal Er | Colony
Community is the lifeblood of Colony, in fact.. It’s the lifeblood of any project.
Our vocation is putting you at the center of our mechanism and making sure the true sustenance and created value is routed back to you! It’s a pleasure to be among you today and I look forward to seeing you among our community members. We’ll be welcoming you with the warmest greetings.
Twitter Questions
@EdwardMastah Edwards want to know — Now that the Bridged market value on Avalanche exceeds 7Billion + USD and still advancing, how can the @Colonylab make a positive impact in the ever-growing Avalanche Ecosystem? What are the strategies for GROWTH?
Wessal Er | Colony
Funding is needed to launch projects, but there are other critical pillars that condition their success: marketing, tech expertise, community, momentum, and of course, network. Working alongside the Avalanche Foundation and other key players of the ecosystem such as Avalaunch, Ava Labs, Yield Yak etc, Colony will empower projects building on Avalanche to reach their full potential.
In addition to Colony’s plans to deploy capital in the Avalanche ecosystem with 50% ring-fenced for early-stage funding, there are 30% for liquidity provision to existing Avalanche DeFi protocols, 10% to validate Avalanche-based networks through AVAX and subnet token staking capabilities, and 10% to purchase top Avalanche projects to form a quarterly rebalancing index, voted on by the community.
@AkshajAgarwal3 What are the key milestones on your roadmap — both things you have already achieved and things that we can look forward to? Any partnerships and short/long term technical milestones that you want to talk about or bring some attention to?
Wessal Er | Colony
Let me see.. Building the right network inside Avalanche, having raised $18,5M in our seed & private rounds plus seeing our application become alive like we’ve imagined.. with those features we longed enough to offer the community.. These are our best achievements so far.
Other features of the Application will be available in the next 6–12 months such as the deal flow sharing/analysis and the voting mechanisms.
We’re also implementing Colony’s studio as I mentioned before which is a platform where supply meets demand regarding developers or marketing experts. (Network is important!)
@dachs_come_back wants to know — What criteria will Colony consider when determining the projects it will invest in?
Wessal Er | Colony
There are 2 things to take into consideration here, the current criteria are established by the core team to kickstart Colony’s operation. Once the early-stage features of the application are live, the community will be able to make the capital allocation decisions.
Where are we at the moment? Colony’s core team is focusing on projects with advanced products, teams that are able to deliver and tokenomics that makes sense. Usually we intend to help projects to change their tokenomics/strategies to have a better market fit and a higher adoption.
Once the early-stage function of the application is live in Q1 2022, the community will be able to choose/vote on projects. Colony will provide the right tools and some analysis to make sure the community is able to take decisions based on the best information available.
@tolatli Will the community have permission to decide ALL Issues on accelerator / investment processes? Does ColonyLab have any big traditional investment consultants?
Wessal Er | Colony
We are going to decentralize everything overtime. At first, operations will be performed by Colony’s Core Team to reflect the votes of the community, in the long term, once the DAO structure is fully implemented, everything will be decentralized and the power will be in the hands of CLY holders.
Lucky for us, Colony has some investment specialists in the team. The CEO has been involved in crypto since 2013 and has been involved heavily in a crypto VC in the past. He also has been investing in equity deals representing institutional firms.
That’s regarding our CEO but we don’t work alone like lone wolves. Network is very important. Some specialists of the crypto ecosystem are working closely with Colony’s core team to make sure we have the right insight in order to make the best investment decisions possible.
@bXavTmWTg9bU1E6 inquires — Why is it called Colony？Why use this icon?
Wessal Er | Colony
Since the project is community driven, Colony’s name stands for the incredible work that a community can achieve together (like ants). Here’s a fun fact: ant colonies operate without central control. (DAO😉)
Telegram Questions
Is your platform suitable for crypto beginners? Or does it only limited for professional users ?
Wessal Er | Colony
Colony is building a platform with a great User Experience to make sure it is easy to use for everyone. Beginners will be able to stake their colony token, they will then receive over time, multiple airdrops of promising projects building on top of the Avalanche ecosystem. Perfect for beginners, just one coin to stake, to receive plenty. For more confirmed and professional users of crypto, Colony will allow open governance, where community members will be able to participate in projects, analysis and decide if an investment should be made or not. Colony will be accessible to everyone, the level of involvement will depend on one’s will.
Do you have AUDIT credentials or are you working to AUDIT your project, to make it more secure and reliable?
Wessal Er | Colony
Colony will be fully audited once smart contracts are deployed. We have 3 solidity developers working hard on the application and we can’t wait to share our first look and feel the coming week. 🙂
How does Colony compare to similiar project? and why would investors choose it over others?
Wessal Er | Colony
Inclusive DAO and open governance. Ecosystem farming (Access to the growth of an entire ecosystem Avalanche)
What is the Best way to follow All your Upcoming news and updates? What are your plans in coming Future?
Wessal Er | Colony
On our social media:
Twitter:https://twitter.com/Colonylab
Global channel: https://t.me/colonyavax
Turkish channel: https://t.me/ColonyTR
https://colonylab.io/
https://medium.com/@ColonylabSTAKING is one of the STRATEGIES to ATTRACT USERS and HOLD Them and long term.
Does your GREAT PROJECT have plan about to Staking?Wessal Er | Colony
Staking is indeed a good feature, Colony intend to use this feature to let people access our application, thus having access to the deal flow inside Colony, to be able to allocate capital inside the Avalanche ecosystem.
On top of the voting features enabled by staking, the rewards will also be reserved for people staking Colony tokens: Airdrops mechanism, Avax staking rewards, etc.
Dave Donnenfeld | Avalaunch
I’d like to thank you for coming out today and answering so many questions so very thoroughly.
Just want to share the appreciation I’m sure our community is feeling right now. Very much look forward to the Colony launch and all that lies ahead for this very inventive and inclusive project.
Wessal Er | Colony
It was my pleasure. Thank you for hosting Colony today. We’re looking forward to what we’ll build with our marvelous community.
About Colony
A community driven fund, evolving into a DAO, to boost Avalanche’s ecosystem growth. Powered by a governance token: $CLY.
Colony will deploy capital within Avalanche on early stages projects, provide liquidity to DeFi protocols, maintain an Index on top Avalanche projects, and validate networks through stacking capabilities
Our open governance mechanism ensures capital is allocated across the Avalanche ecosystem for its sole benefit. The value generated by Colony’s investments is routed back to the Community through airdrops, a buyback mechanism, and staking rewards.
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Colony AMA #1 — Project Overview with Wessal Er, CMO
Join us in the Avalaunch Telegram group for the first of two AMAs with the Colony team.
First up is Chief Marketing Officer, Wessal Er, where we will be covering the project at a high level. The focus of this AMA will be the business development, vision, road map, and post-IDO plans.
In addition to Avalaunch’s questions, we will be giving the community two opportunities to ask theirs, and we will be rewarding the 10 selected questions with $25 USDT each, for a total of $250 in prizes
Date & Time
- Date: 12/01/2021
- Time: 12:00 p.m. (PST)
- Where: Avalaunch Telegram
AMA Contest Rules
To be eligible to have your question selected, you must:
✈️ Join: Avalaunch Telegram & Colony
♻️ Retweet: Tweet & Tag 3 Friends
There will be two ways to submit questions:
- Commenting on the Twitter post announcing this AMA
- Live during the AMA
Shortly before the AMA, we will select the 5 best questions from the Twitter thread and those will be asked during the session.
During the AMA, we will open up the chat for community questions. The 5 best questions will be selected by the guest for answering.
If your Twitter or community question was chosen, you will be contacted to receive your prize.
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Colony Lab x Avalaunch—IDO Announcement
For the average investor, it seems almost impossible to invest into projects while they are still in their early stages. Institutional investors and venture capitals dominate early-access deals of emerging projects and leave retail investors outside of these valuable opportunities.
Why are everyday DeFi enthusiasts losing out on wholesale prices and paying the mainstream consumer rate for tokens?
How can retail investors participate and fund an accelerator program of promising projects in the DeFi lineup and reap the rewards that angel, institutional investors, and venture capitals receive?
Colony conceptualized a revolutionary approach, in which this gap can be bridged: Ecosystem Farming. One coin to access the growth of an entire ecosystem, Avalanche.
Colony is working to bring a stylized and tokenized capital deployment plan to the Avalanche ecosystem — one that would capitalize and contribute to the projected growth of the greater Avalanche ecosystem, while putting the community at the heart of its mechanism.
Avalaunch first met this team in May and after many months of collaborative work later, we are proud to announce our next IDO: Colony Lab.
Overview
“The Colony vision is rethinking outmoded systems by imagining brand new ones in order to bring the structural integrity of traditional finance to DeFi — specifically the Avalanche ecosystem.”
Very simply, Colony is an Avalanche ecosystem and early stage funding mechanism that is realized through the CLY token, which represents the investment and return of all incentivized activities. The fund receives capital through the initial sale of its token which is subsequently allocated as illustrated below:
While Colony most closely represents a community-driven tokenized sort of venture capitalist, it is also a project that sustains what it supports by deploying capital to an Index, running nodes on Avalanche and providing liquidity to select protocols. The weighting and distribution of this capital is stated above but will come to be flexible as open governance, support and inclusion will ultimately determine the weight and distribution of its resources.
Colony’s open governance empowers the community to allocate capital across the Avalanche ecosystem, for its sole benefit. The true sustenance and value generated by Colony’s investments will be routed back to the Community with features like multiple airdrops, a buyback mechanism and staking rewards. Moreover, utilizing a regulated framework will allow traditional investors to gain exposure to the Avalanche Ecosystem, further fostering its growth with fresh capital.
Colony Structure
The Colony structure comprises two complementary pillars that create value for the users and the Community:
The first pillar offers access to early-stage deals while leveraging blockchain values to facilitate entry into the most profitable stages of a project’s growth.
- By sharing best practices like airdrops, Colony is inclusive to users.
- A portion of these airdrops go back into the fund to ensure sustainability and ongoing growth.
The second pillar is a DAO (Decentralized Autonomous Organization which acts as an “acceleration engine,”designed to support the Avalanche network as it evolves into a dominant Layer 1 technology. The Colony DAO’s primary directives are:
- To deepen liquidity within the Avalanche ecosystem
- To capture Avalanche’s growth assets via a dedicated index
- To strengthen the health and security of the network through staking
The DAO is Colony’s engine and represents the intellectual and financial interests of our Community.
Colony— Links & Team
Website| Telegram (Discussion)| Twitter |Medium
Partners and Backers
- The Avalanche Foundation
- Avalaunch
- Yield Yak
- Spark Digital
- ZBS Capital
- Synaps
- NGC Fund
- MEXC
- Avatar
- Foresight Ventures
- GBV Capital
- Shima Capital
- Hashkey
- Muhabbit Capital
- AventuresDAO
“It’s great to see Colony seeking to create a decentralized democratic financial ecosystem by giving the community access to early-stage projects in seed and private rounds. This is very much aligned with Avalanche’s core value: community first.” Nicolas Lemaitre, General Manager at Ava Labs.
“We are delighted to have established close ties with many partners inside and outside of the Avalanche ecosystem, notably the Avalanche Foundation itself. We’ll be sharing deal flow to create a more fertile ground for projects building on Avalanche, the fastest, highly customizable, smart contracts platform in the blockchain industry,” Colony’s CEO Elie Le Rest.
Final Thoughts
Colony as an initiative is already underway. While the roadmap slates Q1 2022 for the deployment of capital in their index and liquidity provision, Colony holders are essentially realizing the fruits of their labor before TGE with some early investments in forthcoming projects. Colony is an undertaking that is attempting to do systematic investing the right way.
They have tweaked their offering to embrace the importance of community, have focused enough to be exclusive to Avalanche and tokenized their value in a fashion that is optimized for crypto users. The CLY token is a liquidity provider, an asset holder and an early investment mechanism.
“We are thrilled to work with Avalaunch, in their support of our initiative to grow and bolster Avalanche at the most fundamental and community levels. Dave and Mark have been of great value to our project and the team is deeply grateful for that.” Colony’s CEO Elie Le Rest.
*Funding Numbers:
- Seed: 8.33M CLY at .12 USD — $1,000,000 USD
- Private: 87.5M CLY at .20 USD—$17,500,000 USD
- Community Sale: 6.66M CLY at .30 USD — $2,000,000 USD
- IEO on MEXC: 1.25M CLY at .40 USD — $500,000
Total Raise: $21,000,000 USD
*It is worth noting that a hard cap number in terms of raise does not apply here. The collective raise represents capital to be deployed.
Supply — Breakdown & Vesting:
Total Supply: 150,000,000 CLY
- Total Token Sales: 105,000,000 CLY (70%)
- Team: 15,000,000 CLY (10%)
- Liquidity Provision: 15,000,000 CLY (10%)
- Community Incentives: 10,500,000 CLY (7%)
- Advisory: 4,500,000 CLY (3%)
Vesting Following TGE:
- Seed: 12 month-cliff, 12 month linear vesting
- Private: 10% at TGE, 90-day cliff, 12 months linear vesting
- Public Sale: 100% Unlocked
- Team: 24-month cliff, 12 months linear investing
- Liquidity Provision: 100% Unlocked*
- Community Incentives: 27 months linear vesting
- Advisory: 24-month cliff, 12 months linear vesting
*The amount of liquidity to be provided following TGE is contingent upon their overall listing plans which are not yet fully finalized.
IDOs/IEOS
- Avalaunch: 6.66M CLY at .30 (Details Below)
- MEXC: 1.25M CLY at .40
Other:
· Initial Circulating Supply: 16.66M CLY (excluding liquidity tokens)
· Initial Market Cap: 6.6M USD (excluding liquidity tokens)
· Initial Liquidity: To be determined contingent upon listing plans
The Colony IDO on Avalaunch
- 6.66M CLY at .30 USD (Total Supply: 150M CLY)
- Sale Size: $2,000,000 USD
Registration Schedule:
- Registration Opens: 12/1/2021 at 3:00 p.m. (UTC)
- Registration Closes: 12/5/2021 at 6:00 a.m. (UTC)
Sale Schedule:
- Validator Round Begins: 12/6/2021 at 6:00 a.m. (UTC)
- Validator Round Closes: 12/6/2021 at 3:00 p.m. (UTC)
- Staking Round Begins: 12/6/2021 at 3:30 p.m. (UTC)
- Staking Round Closes: 12/7/2021 at 6:00 a.m. (UTC)
Avalaunch Sale Distribution
- A minimum of 90% of the sale will go to the community stakers of XAVA.
- 10% or less will be reserved for validators of the Avalanche network.
IDO Recap
- Total CLY for sale: 6.66M
- Price: $.30
- Size: $2,000,000
- Vesting — 100% Unlocked
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Avalaunch Advocate Airdrop: 30,000 XAVA Giveaway
In a tweet dated November 8th, Avalaunch stated, “We have also purchased 464 AVAX worth of XAVA, which will be earmarked as rewards for an upcoming airdrop to long-term stakers,” with a link to the transaction.
These 6,793 XAVA were slated to kick off the beginning of what will be an ongoing thank you to our longer-term stakers. This has been a number of months in the works and we are proud to have many “OG” stakers on such a young platform. To begin, we used some simple criteria to determine eligibility:
- In order to qualify, a staker must have staked at least 1 XAVA when the Kalao IDO registration began and through our first cool-down period. The exact time of the Kalao snapshot was Friday, September 17 2021 @ 15:00:00 GMT+0000
- Users were required to have not unstaked more than 30% of their holdings.
We felt that these simple criteria were fair and inclusive. To further subsidize this debut airdrop, the Avalaunch team added an additional 23,207 XAVA to make the distribution a cool 30,000 XAVA—with a current market value in excess of $400,000 USD.
We’d like to thank the more than 2,500 loyal recipients for their long-term support and look forward to them sharing in our continued success.
Claiming the Airdrop
If you qualified for this airdrop, it can be claimed on our airdrop page here.
This list of eligible wallets is also published here.
Please remember, https://launchpad.avalaunch.app/airdrops is the only valid URL, and you should always click through from this page to make sure you are accessing the right page.
Looking Ahead
Future incentives will have different criteria as we are just getting started and believe that many of our future long-term stakers have only just begun on their journey. Avalaunch looks forward to their arrival and will always do their very best to demonstrate appreciation for their long-term supporters.
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TaleCraft IDO Updated — Deposit Refund & Airdrop
As with any growing network, there are small hurdles along the way that must be overcome. The truly parabolic growth of Avalanche, both in price and activity, has been absolutely staggering.
For the first few hours of the TaleCraft sale on Avalaunch, users noted unusually high fees. While we consistently encourage people to take their time and use the 11.5 hour claim period to their advantage, it is something we took note of.
In order to best accommodate our community, the 1 AVAX fee will be refunded to all users, regardless of their participation. With approximately 8 hours remaining in the IDO, we have observed the network return to predictable gas fees, however, we want to make sure that our users have a 100% seamless experience.
TaleCraft & Avalaunch
Avalaunch and TaleCraft have collaborated to cover all costs in order to distribute all unsold and unclaimed CRAFT to those that participate in the sale.
Eren Gunaydin, Business Development from TaleCraft states, “TaleCraft would like to join Avalaunch in their ‘community first policy’ and will be paying for half of the unsold tokens to XAVA participants.”
If you have yet to claim your allocation, we suggest doing so to ensure that you are a recipient of this drop.
We believe that Avalanche and the projects building on it represent a thriving economy with unlimited growth potential and we are dedicated to supporting this cause.
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TaleCraft AMA#2 — Technical Deep Dive with Eren Gunaydin & Selman Gunes (Recap)
On 11/19/2021 at 12:00 p.m. (PST), an AMA session was held on Avalaunch with special guest Eren Gunaydin, Director of Business Development and Selman Gunes, development chief at TaleCraft . Below we present to you an excerpt from AMA with questions and answers.
Dave Donnenfeld | Avalaunch
Good afternoon and thank you to everyone who is here to attend Part II of the AMA with TaleCraft. We are once again graced with the presence of @talecrafter and today, we will have an additional guess in @TaleCraftLabs — Selman Gunes Development Chief. Both are ready, willing and able to tackle the tough questions so, without further ado, I bring you TaleCraft. How are you today?
Eren Gunaydin | TaleCraft
Hey guys, pleasure to be here with you again!
Selman Gunes | TaleCraft
Hi guys , Nice to meet you !
Dave Donnenfeld | Avalaunch
Let’s get right into it — Let’s start off with a brief introduction about yourself. Can you tell us about your background, career path, and how did you end up as lead developer for TaleCraft?
Selman Gunes | TaleCraft
Hi, I’m Selman Gunes. I am a senior management engineering student at Istanbul Technical University. My first encounter with blockchain started in 2016 with Ethereum Mining. Over time, I started to research blockchain technology and crypto markets. With the development of software technology in the field of Blockchain and Defi, I became interested in applications running on blockchain and I decided to develop software in this regard. Currently, JS, Python and Solidity are the software languages I use the most. I am currently working as development chief at Talecraft. As a development chief, my main task is to develop algorithms and to perform task planning for developers.
Dave Donnenfeld | Avalaunch
How did the team come together, and how was the product idea born? Why marry gaming and NFTs under one umbrella term — TaleCraft?
Selman Gunes | TaleCraft
As the Talecraft founder team, we have been investing and researching on the crypto market and decentralized finance for years. We thought that we could develop a crypto project due to the experience we have gained over the years and the different areas that each person is interested in. But even though we had such an intention, we waited for the right project and the right moment rather than taking direct action. And as a result, we liked the theme and main idea of the Talecraft project and we started working on it.
As a team, we were already playing computer games and thought we could design a game on the blockchain. Although it is actually quite ordinary to use NFTs and games together, we realized that there is little use in games at the moment due to the useless nature of NFTs. For this reason, we decided to design a technology based on the erc-1155 protocol that will provide in-game item improvements. In this way, I can say that the items to be used in the games we will develop allow the use of carefully designed different items than randomly generated nfts.Dave Donnenfeld | Avalaunch
Can you talk about the experience of your team? How many developers are working on building the project?
Selman Gunes | TaleCraft
The developer team has developed many defi projects so far. Our developer, who develops software on Solidity, is quite competent on the subject. In fact, I can say that he demonstrated this skill while developing the project over the erc-1155 protocol, which is used very little in the market. In addition, we have ui-ux designers and frontend and backend software. In total, we have a 6-person developer team with me. Since our developers are very good at their job, we actually do not have any restrictions on software development in our project and we can say that we have a very flexible structure in development. In addition, we have included a team of 4 people experienced in 3D and VFX among the game modes we are developing, and I can say that we are trying to make our project cooler.
Dave Donnenfeld | Avalaunch
Yes, ERC-1155 is a specialty for sure.
Having looked at the game ecosystem, there seems to be that clear distinction about Craft Technology. How is this different from minting, and how will it work to unlock the in-game NFTs?
Selman Gunes | TaleCraft
Although the minting system constitutes the core structure of NFT, it does not actually offer a sustainable economy. To briefly explain the minting system, it enables the production of unique NFTs by randomly combining different image files on certain layers. Every picture has a rarirty, and the more pictures combined, the rarer an NFT you will have. In fact, this is somewhat of a gamble, because someone else who pays the same amount to minting may have a more valuable NFT than yours. In addition, after the hype in the project is over, the interest in NFTs ends and it becomes difficult to sell the NFT you have. Crafting system, on the other hand, allows to design more unique works of art and offers more flexible sales systems.
We designed a crafting system by addressing the problems in this minting system. In this way, each user can craft any NFT they want, starting from an equal level and going the way they want to go. And this craft technology offers users different sales strategies. Some users can sell their products to users who want to save time by constantly crafting NFTs at key points that will go to certain NFTs. But another user can also earn income by selling items to people who want to craft after the sale of chests by simply holding the elements.
In other words, we can say that the crafting system focuses on solving the chronic problems that NFTs have.
Dave Donnenfeld | Avalaunch
How does TaleCraft manage to package these mechanics in? It seems rather specialized. NFTs bridged to real world assets has been a challenge. You seem to be faced with a similar challenge. Can you address this?
Selman Gunes | TaleCraft
Its been a pretty hard process for us to be honest. Special package mechanics are made possible by the crafting technology of talecraft. Today, although many DeFi projects want to release NFT collections, the chronic problems of NFTs prevent defi projects from taking action on this issue. Together with Talecraft, they will be able to offer NFT packages to their users with NFTs that have an economy and already have use cases.
Dave Donnenfeld | Avalaunch
You all don’t look like you’re afraid of difficult things which leads me to your aggressive roadmap — The Roadmap is sure busy, especially after the project launch! Can you talk about the specific timing of the app deployment, and briefly what’s in store for the players soon after launch?
Selman Gunes | TaleCraft
With the Token Launch, it will available in a 5 day many features that we offer you. Crafting system, our first card game, marketplace etc. Many features will be out. However, with the flexibility that our project provides, we have many new projects in mind and we are in the development phase of them. We will share these with the community over time. In addition, on the 22nd, we will try some of our features on the testnet and will be able to perform more extensive testing. And we have some gifts for those who join the testnet, we are waiting for everyone.
Dave Donnenfeld | Avalaunch
Testnets are a great to realize you have a billion more things to do 😂 Hugely important
Among the range of cool features that come with the game is an NFT marketplace. Can you talk about its use and how its integration relates to the vision of the project?
Selman Gunes | TaleCraft
Our NFT marketplace has different features than normal marketplaces. For example, we plan to provide data on floor price that will facilitate our users. In addition, with the erc-1155 protocol we use, it is easier to follow the sales of NFTs and we will be able to show the historical prices of NFTs to users. In addition, we will show the constantly changing supply amount to the users and ensure that they catch some opportunities.
Finally, with the special package sales in the future, those NFTs will also be displayed on our marketplace and we will try to keep the marketplace alive in this way.
Dave Donnenfeld | Avalaunch
Nice. I’d love to comment more on this but we have lots of questions still. Interesting stuff. What does the long-term ambition for TaleCraft look like? Will there be any additional features added on top of the current ones?
Selman Gunes | TaleCraft
Actually, as I said before, there is a great flexibility that the crafting system provides us. And that’s why I can say that there is actually a treasure. Because with this system, we have the chance to generate income for game developers and artists who want to produce. That’s why I think in the future Talecraft could be a game hub or an art sales platform. And we started to work towards these goals. I would like to give you the details of these features as soon as possible, but it is difficult for me to talk in detail today.
Dave Donnenfeld | Avalaunch
This will be asked a million times so let’s get out in front of it here — Security is of utmost importance in the world of cryptography, and I can see that the project contracts have already been audited by HashEx. Are there any other plans for continued security from this point onwards?
Selman Gunes | TaleCraft
First of all, I would like to thank hashex here. I would like to state that they are an audit company that does its job well in the market and they warned us about everything. Apart from our own developers, we have conducted many tests with hashex so far and we do not have any vulnerabilities. In addition, we will have the contracts that we will use in the future audited with the same meticulousness. But not everything works as well as theoretical tests and sometimes you need stress tests as well. At this point, with the testnet campaign, which will start on the 22nd, we will also perform a stress test on our site and we will put everything in the state we want before the launch
Dave Donnenfeld | Avalaunch
We are really excited that you decided to build the first Craft NFT gaming on Avalanche. Can you talk about your experience being involved with this community? What was it like for you and your team producing the art of TaleCraft?
Selman Gunes | TaleCraft
I am very happy that we developed the project in the Avalanche ecosystem. The community and all shareholders give us very positive feedback. I can say that producing Talecraft was a unique experience for us.
Dave Donnenfeld | Avalaunch
Finally, are there any concluding points that you’d like to make, either about Avalanche as a building ecosystem or about the TaleCraft product itself?
Selman Gunes | TaleCraft
I strongly believe in the Avalanche ecosystem. I think it is the decentralized network with the strongest PoS and I see a very clear path. We still have a long way to go and we need to work hard to bring the avax ecosystem back to where it belongs.
Twitter questions
@OpuGhosh2 who asks the following — TaleCraft brand new type of NFT minting process burns base cards to craft higher-tier cards, are all the cards in the metaverse unique? Every base card creates a unique higher card on their own? How is decided when is time for the base cards to be burned?
Selman Gunes | TaleCraft
We currently have 160 different cards. There can be 10, 100 or even 1000s of each card. That’s why we can’t call every card unique. But with the ever-changing supply and demand, the number of these cards also changes. Therefore, I can say that you will have an nft that is dynamic rather than unique. Tiers change at certain stages. You need to burn at least 2 cards for each craft. The answer to the last question is here, actually, the cards are burned during crafting, so there is no burn at any time, there is always a burn🔥
@Maiphuong32 and her 17 followers are dying to know — In TaleCraft elemental base cards are sold weekly, Does players with low investment still can progress inside the metaverse? How are players with low count of NFT hold also rewarded by the game?
Selman Gunes | TaleCraft
This is the reason why we sell a certain amount of these cards every week. You can progress in the game by crafting just by buying chests or buying element cards from the marketplace. But those who make high investments will also get a great return on their investments.
@Margaret9732 I am just curious, will there be a competition for the completion of the 160 kind of cards? If yes, will there be a massive rewards for the first user/players who will complete collecting all the 160 cards? Will you introduce more kinds of cards in the future?
Selman Gunes | TaleCraft
Yes, we are considering adding a quest system that will direct users to craft and reward their achievements as soon as possible. When certain goals are set for each week and each month, we will ask users to fulfill these quests. The objectives will also be varied and we will enable users to take different paths. In this way, everyone will fulfill their own quest. According to the level of the quests, certain prize amounts will be collected into the pool and users who complete it within that period will receive a share from the pool.
@Sige_burece17 — As it is known that TaleCraft is a PVP, play-to-earn card board game, my question is Will Game TaleCraft be available in the Google Play Store and Apple App Store to make it easier for them to use it?
Selman Gunes | TaleCraft
No, because our game is on chain, embedding it in an app and asking you to connect to the metamask is not a safe and easy way. That’s why our game will be played on the web. But by making the game more mobile responsive, you will be able to play from your phone as if you were using an app.
@komando911 is dying to know — Is the entire platform designed for the medieval-loving culture? What if many users are not fans of this style of games and medieval culture? Will they design games and possibly NFts for other styles and cultures?
Selman Gunes | TaleCraft
I can say that the Medieval theme is our main theme. And we want to add play items that will evoke rpg elements through this theme. But we will not only go through the medieval, there will be chest and item sales for all kinds of themes on a different platform.
Telegram Questions
Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?
Eren Gunaydin | TaleCraft
It will be limited with 30,000,000 CRAFT. Also in here you can find more information about our Tokenomics https://docs.talecraft.io/tokenomics
According to the roadmap, what are your most important next priorities? Does your team have enough funds and strong community to achieve those milestones?
Selman Gunes | TaleCraft
So far we have collected enough funds from private and seed rounds and our 4-year income statement is ready. Everything is going fine now. Our priorities for Roadmap are to bring the games and our unique platform to life.
Can you please share about your burn system and buyback system? How does burn work for your token?
Eren Gunaydin | TaleCraft
Our token CRAFT is going to be burnt and added to liquidity when some player buy a chest to receive an elemental card. One chests price is 10 CRAFT token and 0.1 AVAX. So in each chest 5 CRAFT will be burnt and 5 CRAFT will be added to liquidity
Currently, NFT is very hot, do you think you will apply NFT technology to your products in the future?
Selman Gunes | TaleCraft
Our game is very simple to play and I think people will understand easily. In addition, we are planning a chess based game that only plays to earn. It will be a game with a very fun and deep strategy, and non-crypto users will definitely be eager to play this game.
Quyen Cao🏄🏄
Many projects have problems with UI / UX and this one turns off new users. How do you plan to improve the interaction with new users and with users outside the crypto space?
Eren Gunaydin | TaleCraft
Of course. That’s why we are on Testnet right now. We want to hear players feedbacks and find solution with their comments. Lots of bugs fixed already in day 1. I’m not saying we are perfect right now, but i can clearly say that we will try our best everyday and work to be perfect.
Lovish Shahi | Avalaunch
We got to know a lot today about Talecraft.
Thanks @TaleCraftLabs & @talecrafter for your time 🙂
Eren Gunaydin | TaleCraft
Great. It is always great to be here with you guys!
Selman Gunes | TaleCraft
Thanks everyone.
About TaleCraft
TaleCraft is a game that allows users to play games with NFTs obtained with tokens and advance to higher levels with CRAFT, distributes rewards to NFTs holders so that people are always actively involved in the project. It was created to resolve the lack of token use cases that circulate in the cryptosphere.
Website | Telegram | Twitter | Medium | Discord
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TaleCraft AMA #2 — Technical Deep Dive with Eren Gunaydin
Join us in the Avalaunch Telegram group for the second AMA with the TaleCraft team.
We are joined again by Director of Business Development, Eren Gunaydin, but this time we will covering the technical aspect of the project and what it looks like to develop games on the blockchain.
In addition to Avalaunch’s questions, we will be giving the community two opportunities to ask theirs, and we will be rewarding the 10 selected questions with $25 USDT each, for a total of $250 in prizes
Date & Time
- Date: 11/18/2021
- Time: 12:00 p.m. (PST)
- Where: Avalaunch Telegram
AMA Contest Rules
To be eligible to have your question selected, you must:
🐦 Follow: Avalaunch & TaleCraft
✈️ Join: Avalaunch Telegram & TaleCraft
♻️ Retweet: Tweet & Tag 3 Friends
There will be two ways to submit questions:
- Commenting on the Twitter post announcing this AMA
- Live during the AMA
Shortly before the AMA, we will select the 5 best questions from the Twitter thread and those will be asked during the session.
During the AMA, we will open up the chat for community questions. The 5 best questions will be selected by the guest for answering.
If your Twitter or community question was chosen, you will be contacted to receive your prize.
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TaleCraft AMA#1 — Project Overview with Eren Gunaydin (Recap)
On 11/17/2021 at 12:00 p.m. (PST), an AMA session was held on Avalaunch with special guest Eren Gunaydin, Director of Business Development, at TaleCraft . Below we present to you an excerpt from AMA with questions and answers.
Dave Donnenfeld | Avalaunch
Hello and welcome everyone to our first AMA with TaleCraft. Excited to have Eren Gunaydin here today. He is a co-founder and part of a great team that’s helping to bring new use cases to NFTs and of course, our beloved Avalanche ecosystem. How are you today?
Eren Gunaydin | TaleCraft
Hello guys! I’m feeling great, thanks 🙂
Dave Donnenfeld | Avalaunch
Good to hear. Let’s get right into it then — To start off with, please introduce yourself. What did your career and education look like before joining the gaming NFTs landscape?
Eren Gunaydin | TaleCraft
Hi there
I’m Eren Gunaydin. I am TaleCraft co-founder and Director of Business Development.
I am, actually was a lawyer in Turkey. I have 4 year experience in the blockchain market and 1 year of experience in team management and planning on blockchain. At the same time, I work with many international developers. Also, I have been consulting various blockchain projects for the past 1 year. Since I believe that the NFT market is promising and has a clear path, I chose to turn to this sector. I am very happy and super excited to work with Avalaunch. And i believe there are so much ways that we can contribute to the NFT world.Dave Donnenfeld | Avalaunch
Well the Turkish community in crypto is one of the most passionate there is — I’m sure you didn’t suffer for a lack of work. 🙂 That said, good to have you here on the blockchain.
Combining gaming with NFTs is something relatively novel. How did the idea come about and why was it important to conjunct the two?
Eren Gunaydin | TaleCraft
The crafting method is already used in most RPG and sandbox games, this method as one of the best methods of attracting players in open world RPG games. I think the NFT world is an emerging and still innovative sector. The NFT sector can be integrated into the gaming sector. As you can see, these two ideas are very collaborative and marketable.
Dave Donnenfeld | Avalaunch
Understood. Breathing some new life and use cases into NFT is just smart.
TaleCraft has a very unique design. What is the story behind TaleCraft? Why build it and what role will it play in the gaming metaverse?
Eren Gunaydin | TaleCraft
Thanks, we are really proud of our artwork, to be honest. TaleCraft sets itself apart from other NFT projects. As the economic model, it uses the most accepted free market model in the world. Classic NFT projects work with the mint system and supply is determined by their owners. In TaleCraft, users determine the supply and demand of each object. This story reminds us of medieval traders. The story that TaleCraft is based on this and comes from here. We will bring a true economic model to the game metaverse. We think that this system we bring will inspire all future NFT projects. This shows how unique TaleCraft is. TaleCraft will try to scale this crafting technology in the future. We dream of being a platform that artists and gaming developers can use.
Dave Donnenfeld | Avalaunch
What’s the difference between crafting and minting NFTs, and why choose to adopt the former to unlock the in-game NFTs?
Eren Gunaydin | TaleCraft
The Mint system is actually a classic system. But it is not economically sustainable. Because as the demand in the project decreases, the floor price decreases, which hinders the progress of the project. As a solution to this problem, TaleCraft allows demand and supply to be determined by the users. This allows the prices of NFT’s to be regulated by the invisible hand of the market. For this model I want to commemorate Adam Smith.
Dave Donnenfeld | Avalaunch
To hell with Maynard Keynes. Long live Adam Smith!
So good I almost asked it twice — In addition to the Alchemist Chest, what is the role of the Alchemist Cards, and how does the synergy between the two complement the player experience?
Eren Gunaydin | TaleCraft
No problem, i can answer twice 🙂
Alchemist Chest is actually a chest system that players are used to from other games. Chests give you one of the 4 main elements. The reason we do this randomness here is to allow users to visit the marketplace to craft the cards they want to obtain. The main idea behind this to give opportunity to cards from the lowest level to the highest level to be traded by players
Dave Donnenfeld | Avalaunch
The 4 sacred elements. A great beginning to be sure
TaleCraft is described as the first crafting game on Avalanche. Where does TaleCraft sit relative to the existing gaming NFTs?
Eren Gunaydin | TaleCraft
We consider TaleCraft to be different from other NFT projects. In other gaming projects, NFT’s are usually connected to games with reward and loyalty or achievement systems. TaleCraft uses the game to create NFTs. The crafting system makes players feel like they are medieval alchemist. We will also be releasing game mods integrated into alchemy cards. Here we will enable users to use cards. We aim to develop a sandbox game in the future.
Dave Donnenfeld | Avalaunch
That is an innovation but what grabbed the team as well was the gamefi mechanism — Can you talk about the deflationary structure of the ecosystem, how will this lead to a better token economy?
Eren Gunaydin | TaleCraft
Of course, the total number of Craft is 30 million. And every chest expansion causes deflation. Half of the 10 Craft tokens that paid for each chest are being burnt. This is because we want to make Craft more valuable and increase the floor price of NFT’s produced. In addition to the burn mechanism, the fact that the crafting fee paid for each craft is given to Craft stakers makes Craft staking attractive to users. This causes Craft’s circulating supply to decrease in long term.
Dave Donnenfeld | Avalaunch
That’s very cool i must say.
Having looked at the Roadmap, there are a handful of features that will become available in the same quarter as the launch. Can you give us any time-frames for this, specifically, how long after TGE should token holders anticipate access to some of the in-game features, such as crafting and staking?
Eren Gunaydin | TaleCraft
thanks, glad to hear you liked
Crafting, staking and board game features will be accessible within the TGE week. In the next quarter, we will develop board games and then release our hyper casual games. We will also release a platform site version in 2022. Artists and verified users will be able to create their own chests on this platform.
Dave Donnenfeld | Avalaunch
Hyper casual is exactly how I want to live my life.
TaleCraft is backed by serious investors. Firstly, was it difficult approaching them, and secondly how of a challenge was it to secure these partnerships?
Eren Gunaydin | TaleCraft
At first we were sure of ourselves because our project was unique, but we had difficulty in describing our project because it was unlike any NFT project that came out before, then when we were able to explain our project, we agreed with many ventures and even had to eliminate most of the ventures, the reason for this was to choose the ventures that would be most beneficial to the project. And we believe we have chosen right partners :).
Dave Donnenfeld | Avalaunch
With TaleCraft being the first crafting game built on Avalanche, what were the benefits of building in this community as opposed to alternative ones?
Eren Gunaydin | TaleCraft
The Avalanche ecosystem provides us with a wide range of possibilities. In addition, the avalanche community is open to innovations and loves development. In this respect, it was quite enough to create a community. It also has a very convenient basis for our development.
Dave Donnenfeld | Avalaunch
Excellent Sir. Do you anticipate forging future partnerships with other industry experts to further elevate the gaming NFTs ecosystem that you are building?
Eren Gunaydin | TaleCraft
We’ve already signed up with the biggest DEX’s in Avalanche like Traderjoe and Pangolin. We have also made partnerships with the projects supported by Avalaunch such as Colony Labs, Roco finance and Yay games. We will definitely increase our partnership numbers in the future even more.
Dave Donnenfeld | Avalaunch
That’s impressive. We love our Avalanche DEX’s. This is an Avalanche, home grown project.
Before we move on to questions from the good people over on Twitter, let’s give you something easy and hopefully interesting for our community — What excites you most about TaleCraft, and what are you most looking forward to?
Eren Gunaydin | TaleCraft
TaleCraft is actually a prediction of the future for us. TaleCraft will have a strong place in the NFT market and will lead innovations in the NFT market. This is our goal. My dream is for TaleCraft to provide a platform for future games. We are working on it and will announce it soon.
Twitter questions
@KingOkela12 Did TaleCraft consider community feedback/requests during the creation of your product in order to expand on fresh ideas for your project? Many projects fail because the target audience and clients are not understood So I’d like to know who your ideal consumer is for your product?
Eren Gunaydin | TaleCraft
Actually, we want to create a feedback network among our users. In this, we can use TaleCraft as DAO in the future. Also, our target audience is NFT enthusiasts and gaming people. We can expand our chests as desired by this target audience. We want to be a gaming platform so our users are important to us.
@DngGiaPhong2 “From what I see users will be able to earn AVAX as a gift, What are the main income components available in TaleCraft, and can I make a living playing this game, as real world income??”
Eren Gunaydin | TaleCraft
You can get a share of the weekly Avax rewards by crafting. But it is not easy to earn a net income just by playing games. By constantly following the items in the game, you can catch opportunities and be included in the metaverse economy of TaleCraft, I believe.
@Thinhdop asks — Is the entire platform designed for the medieval-loving culture? What if many users are not fans of this style of games and medieval culture? Will they design games and possibly Nfts for other styles and cultures?
Eren Gunaydin | TaleCraft
The entire platform was not designed for only medievalism. We chose the medieval concept because so many people love this style. We also chose this concept because we were inspired by medieval merchandise. However, we plan to use different concepts for future chests and extensions. Also with the Artist & Special Package system, there will much more options for different styles and cultures.
@woozieriadin wants to know “In Q4 2021 in roadmap, i found “crafting game testnet campaign”. I interested to join this but could you tell me more about how to join this campaign & what is your aim from this campaign?”
Eren Gunaydin | TaleCraft
Actually, we shared a video on our twitter account on how you can participate in the testnet campaign. You can get the details from there. The reason why we are carrying out the Testnet campaign is to demonstrate some performance tests on the site. On the other hand, we want users to get used to and play our game and crafting system without paying any fee before the launch. Thus, we plan to increase users’ interest in the game.
@IvaniWu01 has our final question before we open it up to the community. The tokens in the NFTs games initially don’t usually have a great utility & also lack burning. In this way it is devalued since it’s produced & attempts are made to sell to other users quickly. Could you tell us about the usefulness of the token & what are its main forms of burn?
Eren Gunaydin | TaleCraft
CRAFT is actually the main currency of the TaleCraft universe and is limited. The reason for this is to preserve and increase the value of the NFT’s produced. In addition, the decrease in the number of CRAFT as NFT is produced is very important for the TaleCraft universe. This point of view will be supported by NFT users. So everyone who plays the game will be contributing the economy of TaleCraft.
Dave Donnenfeld | Avalaunch
Well done @talecrafter you have successful run our medieval gauntlet of questions. Your final challenge awaits you from our community.
Eren Gunaydin | TaleCraft
Lets go!
Telegram Questions
I saw a very interesting logo of your project in the telegram community. What is the meaning behind your project logo and your project name?
Eren Gunaydin | TaleCraft
We wanted to create a fairy tale universe and we wanted to convey the feeling of alchemist to our users. The story of the logo and name came from here.
why did the platform choose Avalanche Ecosystem instead of the other popular Ecosystems like ETH, Ripple or even Quorum? TELECRAFT
Eren Gunaydin | TaleCraft
I think the Avalanche ecosystem is one of the most decentralized and sustainable economic networks. Network fees are cheaper than ETH and much more decentralized than BSC. It was important for us and our users to develop our project on a platform that will be valued in the future. In addition, the community is great and the feedback we receive always moves us forward.
Most DeFi projects especially those ones offering yield farming are driven up by hype and scarcity, so when the hype dies the project dies. What’s the key to sustaining Your Project yield farming ?
Eren Gunaydin | TaleCraft
To avoid this hype trap, we actually rebuilt the game’s economy and used the free-market model. Also, we won’t have an extension like yield farming because we have a limited token structure.
Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us?
Eren Gunaydin | TaleCraft
actually we have shared a video about game at YouTube, this video about testnet gaming. We want to people get used to how to play game. Here is the link https://www.youtube.com/watch?v=15fSeSpA-Io&ab_channel=TaleCraft
Which one of these aspects important for you?
A-Increasing Token Price & Value
B-Empowering Platform Development
C-Building Community Trust
D-Expanding Partnership GloballyEren Gunaydin | TaleCraft
It is a difficult question, but I can say that all the answers are interconnected. I think our goal is to add value to TaleCraft and the Avax ecosystem by producing an alternative system for NFT projects.
Dave Donnenfeld | Avalaunch
You’ve done it @talecrafter and lived to talk about it.
From the team at Avalaunch, our 24,000 strong TG community and the 70k followers over on Twitter, we’d like to thank you for coming out today. It is very much appreciated and we all enjoyed learning more about TaleCraft and the medieval adventure that awaits us all. May the elements be with you.
Eren Gunaydin | TaleCraft
It was a pleasure. Always great to be with Avalaunch Community. See you guys soon!
About TaleCraft
TaleCraft is a game that allows users to play games with NFTs obtained with tokens and advance to higher levels with CRAFT, distributes rewards to NFTs holders so that people are always actively involved in the project. It was created to resolve the lack of token use cases that circulate in the cryptosphere.
Website | Telegram | Twitter | Medium | Discord
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Cooldown Periods
Avalaunch has a post-IDO cooldown period, where a fee in XAVA will be taken and redistributed to stakers, based on when you unstake. The fee begins at 15% post-IDO, and reduces every second toward 0% over 15 days.
Cooldown Period
The cooldown period only applies to users who have registered for the IDO. If you are simply staking, without registering, there are no restrictions on your withdrawals.
For 15 days following the sale, the penalty, paid in XAVA, is as follows:
- At the moment the sale ends the penalty period begins at a 15% withdraw fee, paid in XAVA.
- From there, the unstaking penalty will reduce linearly, every second, over a 15-day period, eventually arriving at 0%.
- Any XAVA claimed from those who unstake and incur the penalty will be redistributed to stakers.
For simplicity:
- One second following the IDO, the penalty will be 15%
- 5 Days after the sale, the penalty will be 10%
- 10 Days after the sale, the penalty will be 5%
- 15 Days after the sale, the penalty will be 0%
Any and all XAVA claimed will be redistributed to stakers
Historically, in the days following a sale, there has been roughly a 3–4% drop in the total number of XAVA staked. The Cooldown period is designed to smooth this drop off, while at the same time contributing back to the staking economy.
Assessing Fees Going Forward
The 15% starting point and 15-day window are variables we determined to be a suitable starting point. These numbers are not set in stone, can be updated in the future (in either direction), and we will be closely monitoring their impact on the XAVA economy and community.
As always, we do our best to take in feedback from our users and develop and deploy features when appropriate. We do believe the cooldown period will go a long way in ensuring that the right users are rewarded for their loyalty to the platform and we are excited about this opportunity to distribute more XAVA, and allocation power, to the people that deserve it most.
Avalaunch Tutorial Quick Links:
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Crabada x Avalaunch—IDO Announcement
The impact of gaming and now gamefi in the blockchain space can not be overstated. The long predicted breakthrough for Ethereum was always assumed to be gaming on the blockchain. The inherent limitations momentarily put it on the backburner and then along came DeFi. Gaming, as an industry is simply too big and the blockchain too rife with opportunities for it to be denied. With the advent of “play-and-earn” and the buzzword of “GameFi” now in the vernacular of crypto users, this model represents a potent marriage that could well last a very long time. What we are witnessing is but the beginning and one that the Avalanche ecosystem will be instrumental in delivering. Avalanche is attracting more and more top tier projects that require the low fee structure and near instant finality of our great base chain. For gaming projects, such features are essential and fortunately for Avalaunch, we are pleased to announce our next IDO: Crabada.
Overview
Crabada effectively bundles NFT assets and core gameplay to create a rather addictive experience that is undeniably fun.
In this world, users are invited to “rediscover the prosperous ancient Crabada Kingdom once ruled by Crustaco, King of the Crabada,” and are welcome to go on mining expeditions, loot and breed their Crabada in order to expand their forces within the system. Furthermore, earners of their governance token, CRA, are invited to create the future of the kingdom through governing powers and determine the fate of this virtual world.
Crabada’s ecosystem is varied, with endless possibilities of in-game assets that can be obtained through the process of breeding and this play-and-earn “idle” game has an ease of use and flatter learning curve than one typically encounters in the realm of gaming. An idle game is one that can be played with some passivity, i.e. in a way that is not all-consuming — a veritable pastime experience. The driver of course is that Crabada is not only entertaining but something that can deliver financial value as well. Crabada is endeavoring to bring to market an innovative play-and-earn model via a unique PvP (Player Versus Player)-infused idle gameplay.
Avalaunch anticipates that Crabada has the opportunity to gain genuine popularity and is a project that captures both the trending moment with its in-game mechanics while serving a greater utility that will foster genuine sustainability.
Crabada — Crabada is an exciting play-and-earn NFT game based in a world filled with fierce fighting Hermit-Crabs called Crabada (the NFTs). Players will rediscover the prosperous ancient Kingdom of Crabada and earn rewards through activities such as mining, looting, breeding, battling, exploring, crafting, and more.
Currently in the pipeline for Crabada, you will find:
- Special Crabada Breeding Event—November 2021
- Crabada Breeding Feature—November 2021
- Crabada Marketplace— November 2021
- Idle Game Release—November 2021
- Battle Game Prototype—November 2021
Crabada — Links
- Crabada: Website | Telegram (Discussion) | Telegram (Announcements) | Discord | Twitter | Whitepaper | Medium
Before end of Q1 2022, the Battle Game is slated for release. With so much in the pipeline for November and beyond, such aggressive roadmaps are typically reserved for, well, less challenging projects. Crabada is starting to feel the proverbial “wind at their back” and Avalaunch believes they are going to make an impact that will be felt across the greater ecosystem.
Partners and Backers
- The Avalanche Foundation
- Avalaunch
- Skyvision Capital
- Not3Lau Capital
- Zee Prime Capital
- Devmons
- Wangarian
“We at Zee Prime believe that crypto gaming is the gateway to mainstream crypto adoption. That’s why we are happy to support Crabada, one of the most promising NFT games with a hard working and wholesome team behind it. We simply like the crabs.” — Fiskantes, Partner at Zee Prime Capital
Final Thoughts
Bringing a fleshed out game to market is a capital and development intensive affair which can take years. Even amongst listed blockchain gaming projects, many of them have yet to release anything substantial despite being tradable assets for a year or more. It is not an easy road to hoe and Avalanche has been fortunate to see a number of the more mature projects attracted to the chain. Crabada certainly qualifies as one of them.
Co-Founder/CEO of Crabada, OxTender notes:
“The Avalaunch team are passionate operators in the Avalanche community, and go above and beyond what is needed to help their partners succeed. They have provided valuable expertise in helping us articulate our vision for Crabada and true professionals at their craft. It is a pleasure to be working with them.”
The Crabada IDO was originally slated solely for their own platform and their whitelist was oversubscribed in literally, a few minutes. Avalaunch is grateful that they were willing to carve out a substantial piece of their raise for our community. Though we do our best to seek out larger raises, Crabada is simply too good to pass up. We are wholly confident in their ability to deliver a pedigreed gaming experience to the Avalanche community. We at Avalaunch have gotten to know them over a number of months and have come to very much appreciate their team’s flexibility and desire to work with us.
Tokenomics
Funding Numbers:
· Private: 60,000,000 at .010 USD — $600,000 USD
· Community: 60,000,000 at .018 USD — $1,080,000 USD
· Hard Cap: $1,680,000 USD
Supply—Breakdown & Vesting:
Total Supply: 1,000,000,000 CRA
- Token Sales (Private, Community): 120M CRA (12%)
- Ecosystem: 200M CRA (20%)
- Play-and-Earn Rewards: 300M CRA (30%)
- Staking Rewards: 130M CRA (13%)
- Advisor: 30M CRA (3%)
- Team: 170M CRA (17%)
- Liquidity: 50M CRA (5%)
Vesting:
- Private: 3 month cliff, 20% every 3 months subsequently
- Ecosystem: 50% Unlocked, 50% locked for a year
- Advisor & Team: 6 month cliff, 12.5% every 3 months subsequently
- Liquidity: 100% Unlocked*
- Community: 100% Unlocked
- The team has committed 8.9% as liquidity provision upon listing.
IDOs
- Avalaunch: 22.22M CRA @ .018 (Details Below)
- Crabada: 37.77M CRA @ .018 (Details here)
Other:
· Initial Circulating Supply: 60,000,000 CRA (excluding liquidity tokens)
· Initial Market Cap: 1,080,000 USD (excluding liquidity tokens)
· Initial Liquidity: 4.4M CRA and 80K USD in AVAX*
*An additional 120k USD in AVAX liquidity for the in-game token—TUS.
The Crabada IDO on Avalaunch
- 22.22M CRA at .018 USD (Total Supply: 1B CRA)
- Sale Size: $400,000 USD
Registration Schedule:
- Registration Opens: 1X/XX/2021 at 3 p.m. (UTC)
- Registration Closes: 1X/XX/2021 at 6 a.m. (UTC)
Sale Schedule:
- Validator Round Begins: 11/XX/2021 at 6:00 a.m. (UTC)
- Validator Round Closes: 11/XX/2021 at 6:00 p.m. (UTC)
- Staking Round Begins: 11/18/2021 at 6:30 p.m. (UTC)
- Staking Round Closes: 11/19/2021 at 6:00 a.m. (UTC)
Avalaunch Sale Distribution
- A minimum of 90% of the sale will go to the community stakers of XAVA.
- Approximately 10% will be reserved for validators of the Avalanche network.
IDO Recap
- Total CRA for sale: 22.22M
- Price: $.018
- Size: $400,000
- Vesting — 100% Unlocked