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Crabada AMA #1 — Project Overview with 0xTender (Recap)
On 11/01/2021 at 12:00 p.m (PST), an AMA session was held on Avalaunch with special guest 0xTender, Co-Founder of Crabada . Below we present to you an excerpt from AMA with questions and answers.
Dave Donnenfeld| Avalaunch
Welcome everyone to the Crabada AMA. Today, we’re going to do an overview of this promising project. Our esteemed guest and colleague is none other than @Oxtender an instrumental part of the Crabada team. Welcome. Are you ready to lock horns with our vibrant community?
Tender | Crabada
Hi everyone! Thanks for taking the time to participate, and very excited to be here today
Dave Donnenfeld| Avalaunch
Our pleasure. Let’s jump right in — To begin with, please give us a bit of background on yourself. What did your career and education look like before crypto, and how did you end up focusing on blockchain gaming?
Tender | Crabada
For sure. So a quick summary is that I went down a more “traditional” route, having gone to business school and starting as a business analyst as my first job. However, as I grew in my career, I became more exposed to crypto and blockchain, having worked in product roles across both traditional and blockchain products, such as digital exchanges and cloud backup providers
As my exposure and experience in crypto grew, I became increasingly interested and passionate in the future of the space. This eventually led to my decision to start a small team to provide consultation on product and architecture for blockchain products.
As for blockchain gaming, it came about from my team’s shared passion for playing games. We were all avid gamers in our youth and these experiences stuck with us even as we began to delve into the crypto space. From this background, Crabada came about due to our desire to marry our passion for gaming with our strong conviction in the future of blockchain.
Dave Donnenfeld| Avalaunch
Awesome. Thank you for that. So from humble beginnings to Crabs. I like it — How did this strong technologically-minded team come together, and what was the turning point to building this Play-and-Earn game?
Tender | Crabada
We conceptualised and started working on Crabada in 2021, so there were already various role models and inspirations of what gaming on the blockchain could look like. So really we were just standing on the shoulder of giants.
Each of us were already working with EVM-based applications in different capacities, and as gamers ourselves, it seemed an interesting thing to explore.
I don’t think there is anything wrong with gaming as it is now, but using blockchain for games allows us to explore new models like play-and-earn just because of how tightly knit you can make the game and financial layer. Game assets could easily transform into financial assets frictionlessly and it opens up new modes of play that’s sustainable for game makers and players.
Dave Donnenfeld| Avalaunch
Play and earn is compelling…the GameFi thing is really taking.
At what point did you decide on developing on the blockchain, and how many iterations did it take before arriving at Crabada and its theme?
Tender | Crabada
For sure, it’s a really exciting space and we feel very blessed to be working on interesting problems
Right from the start, we were already planning to have our game built on the blockchain, as we were all believers in the future potential for web 3 and crypto to revolutionise the gaming industry.
We could see how the rise of decentralised applications and the growing acceptance of crypto in institutionalised settings would only continue to grow and therefore we wanted to ensure that our project would be built on the platform of the future.
Regarding the theme of Crabada, we definitely went through many iterations before eventually settling on our current concept.
We chose to use hermit crabs as game pets because they are originally creatures that were somewhat modular, they change their shells when they need to grow, and we believe that this represents our vision for a game and community that also continually evolves as they grow. While shells are the most distinguishing feature, we have expanded the concept to make all parts of Crabada modular.
Dave Donnenfeld| Avalaunch
Nice. Hermit crabs can live more than 30 years and I expect you all to have a long life span. 😄
From what I’ve seen there are a few unique features that sets Crabada apart from the myriad Play-and-Earn games out there. Can you talk about Crabada’s economy? How the integration of the NFTs, the native token (CRA), and the in-game currency (TUS) come together to serve the Crabada universe?
Tender | Crabada
For sure, sustainable economy is key problem we work hard on. It’s really awesome for players to play a game which you can make long-term bets on
Treasure Under Sea (or TUS) is our in-game currency and it’s used in our native marketplace from the start. Players and collectors will be able to buy and sell Crabada using TUS, and subsequently in-game items and resources will be introduced as well.
CRA, our governance token, has some innovative designs. We see potential for it to accrue value from platform use via ‘Marketplace’ and ‘Lending’ fees in the future. Most immediately it’s being planned as a membership model that makes playing Crabada more convenient and benefits players. For example, increasing the maximum team size, speeding up battles, participating in lucky draws for genesis Crabada.
It’s really about giving power to the investor-player class where you own the game and play the game!
Dave Donnenfeld| Avalaunch
Why focus on an “idle game” and how does this serve the vision of the project?
Tender | Crabada
We chose an idle game concept because it’s a game mode that most people are familiar with. Time is a scarce experience and we want to create a game that can be easily picked up and learnt, but still very replayable and players feel good to invest their time in it.
We want Crabada to be played by anyone, anytime and anywhere. Learning how to play is relatively easy, and it’s not disruptive to everyday activities. Heck, we want players to play Crabada alongside other games as well
For our next game, ‘Battle Game’, we still retain idle game elements and also bring in more complex battle dynamics, and nation-building concepts into the game. Still want to keep the barrier to entry low, but also give players interesting problems to solve and provide many ways to win.
Dave Donnenfeld| Avalaunch
Props to Crabada for some really sophisticated art and game design. I am curious what the process of creating such a unique world looks like.
Tender | Crabada
We’re really glad that you enjoy them!
Regarding how this all came about, it was definitely a team effort, with everyone pitching in to help ideate, refine, and then challenge the various themes that would influence the art and game design. Through this iterative process, we slowly built up the game’s visual aspect to what it is today. Special thanks has to go to our lead artist Min, who sacrificed many nights of sleep to build out Crabada visually, through his amazing talent to translate our ideas into art.
We explored various themes around the different classes of Crabada. We really just wanted to have fun with it, and I think this energy was transmuted into some interesting ideas, for example, there’s a class that consists of blockchain networks crabs, which is really distinct and people really seem to love.
Dave Donnenfeld| Avalaunch
Ha. Having looked at the Roadmap, I noticed that there are quite a few features that unlock after the launch. Can you cover some of these briefly, and what the token holders should be expecting within the first 6 months or so?
Tender | Crabada
After the token distribution events, it will be followed by our special breeding event for IDO participants and early supporters, where we reward them with the special opportunity to breed the original supply of crabs in Crabada!
After that, the next major milestone for us will be the launch of our idle game on the 15th November, supported on web browsers. Once the launch has successfully stabilised, we plan to release support for mobile browsers, in order to allow our players to enjoy Crabada on their mobile devices.
Subsequent to the launching of our idle game, we will continually roll out more exciting events and features for players, such as mining zones where players can mine faction resources that will be a key part of our eventual battle game mode.
We are also preparing to introduce staking in a few weeks after the launch, which will allow players to access staking benefits and further support the development and growth of the Crabada community.
Lastly, looking ahead to 2022, we are preparing for the launch of our cross-platform battle game mode sometime around March. I think players can look forward to more complex battle mechanics, great in-game battles where Crabs display their amazing array of skills, and exploration of the ancient Kingdom of Crabada via PvE
Dave Donnenfeld| Avalaunch
Wow. That is packed roadmap and a lot in the near term. Very impressive. The space has come a long way since raising money for a mainnet to be named later. I’ll put November 15th in my calendar and have an eye out for staking.
Is there anything that you can reveal at this time, about the long-term vision of the Crabada kingdom, does it expand beyond minting, breeding, looting and battling features?
Tender | Crabada
At the present, we have planned out our roadmap with a 1.5 year runway. We have already made plans to introduce more competitive features to the game such as PVP tournaments, as well as social elements such as in-game guilds, claims and play-together with friends
While it is still early days, in the future we plan to expand the Crabada universe by branching out to other genres, like Tower Defence, or by allowing our crabs to be used in other games that cater to a wider variety of gamers.
We believe that there is vast potential in the future for zero-gas gaming and foresee the opportunity to bring over other on-chain games or even port over traditional games that are not on the blockchain yet. So this is something that we are really excited to work towards.
Lastly, while these are still early days we see great value in the potential of creating a metaverse for the fans and players in our Crabada ecosystem. With the growing adoption of technology across every aspect of our lives, we hope that one day we will be able to provide members of our community with an ecosystem where people can potentially use their Crabada avatars to explore virtual worlds and interact with their friends, trade NFTs, and enjoy a multitude of services all from one single unified Crabada platform
Dave Donnenfeld| Avalaunch
There’s that word…Metaverse
This is indeed a very exciting time to be building on Avalanche. Since Crabada will be the first (hopefully of many) Play-and-Earn games building on this blockchain, I wonder what were the critical factors that determined building the project in this community?
Tender | Crabada
One of the really key factors that drew the team toward building on Avalanche was the overwhelming community support that we were receiving. When the project idea was first conceptualized, our team did extensive research on which ecosystem would be best to launch the game on. We were quite blown away by how warm and welcoming the Avalanche community was. Shoutout to Avalaunch (of course), Ava Labs, TraderJoe, Avaxholic and everyone’s favourite — CederNets
Another key factor for consideration were the transaction speeds and gas fees of L1 chains. With Crabada being a play-and-earn game, our main priority was to provide players with the best on-chain gaming experience possible, especially for our initial idle-game phase where we were going to be pretty reliant on on-chain transactions for game actions.
The transactions needed to be quick and affordable. Avalanche is — quote-unquote “Blazingly Fast and Low Cost” which was exactly what we needed. Additionally, the Apricot Phase Three upgrade couldn’t have come at a better time for us, where C-Chain fees were essentially being reduced by up to a whooping 66%. That was just really great news for us, and the Avalanche community itself. 😍
So I think from there, we were kinda fixated on the idea of having Avalanche as the home-base for the Crabada-verse.
Dave Donnenfeld| Avalaunch
The old Apricot Phase Three upgrade in the nick of time.
That’s something you don’t hear every day
Tender | Crabada
We like the Apricot
Dave Donnenfeld| Avalaunch
Finally, before we move on to the twitter section of the program- are there any last points you’d like to discuss, or share with the Avalaunch community?
Tender | Crabada
Our vision is simply to create a game that can be enjoyed by anyone, anywhere, at any time. We are extremely excited to build towards a game that will not only be enjoyed by crypto natives, but also by the masses. We hope that everyone here is as excited as we are, and to work claw-in-claw towards bringing the GameFi revolution to new heights.
Remember, wake up and like the crabs. Are you ready for the Crabalanche? 🦀🦀🦀🦀
Twitter questions
Dave Donnenfeld| Avalaunch
I am ready. My body is also ready. NGL, that was a pretty epic Q&A. Great stuff. First up from our supporter over on the twitter comes from @cryptoyaos who asks — we can only buy Crabada from other players after the breeding event, is that true? Will there be any other NFT sales from the team?
Tender | Crabada
Thanks for everyone who contributed questions! So many nice ones, and really feel the warmth and excitement of the Avalaunch community
So besides the initial breeding event, there’s also a lucky draw format for CRA stakers to win some Crabada. We have prepared 64 genesis Crabada in total, 10 of which will be distributed via the Special Breeding Event, and the remaining 54 will be distributed in a lucky draw format for CRA stakers.
We don’t intend to sell NFTs to players directly but instead, let players craft them. There are plans for more NFTs for the game including equipment, skill books after Battle Game is launched in Q1 2022. These will be craftable by players!
Dave Donnenfeld| Avalaunch
They are not always so warm but they are awesome and seem to be quiet and listening to you. Muting the channel helps as well with this. Question 2 from Twitter — @dydd2020 The project slogan is “Play with Earn,” i want to know how do you keep the balance between the play and earn?
Tender | Crabada
Good question — we chose the term “play-and-earn” instead of “play-to-earn” to further embody our vision for Crabada to allow users to have a gaming experience first, and a crypto experience second. It’s really an ethos for us
We want to make an inclusive game that welcomes people from all walks of life, even those who are not invested in crypto full time but are interested in an enjoyable game experience with the added potential of monetizing their effort.
Dave Donnenfeld| Avalaunch
You had me at “Crafted by players.” @AdcDavidtai1999 You are Planning to Launch the BETA VERSION
of the Crabada So that Many players Like me Can test and Overview this Exciting Platform?Tender | Crabada
Ok short answer — Currently, yes, we will consider open beta for the Battle game in Q1 2022, but currently no fixed date for it yet. We’re really excited to get it into the hands of players!
Dave Donnenfeld| Avalaunch
@M31Em In explaining it you mention it as an idle game.. which in game currency would you be earning while idle.. or is it both?
Tender | Crabada
Players will be earning primarily TUS from the games. Also when we launch a new game mode, we set aside some CRA incentives for it, so players will be earning both CRA and TUS when we launch the idle game. We always want to reward players for trying new things! 😇😇
Dave Donnenfeld| Avalaunch
Final question from Twitter before we release the Kraken and let you pick 5 magical questions from our enchanting community. @IvaniWu01 What characteristics differentiates Crabada from other P2Eearn project & what is the strategy to follow in order to position itself in the market and offer confidence, solidity & profitability in an innovative and creative way & not disappear sooner than desired?
Tender | Crabada
Will preface this by saying that building gaming with a blockchain layer is still a very new and interesting problem. There’s not really a playbook here. While we can come in with our hypothesis and models, we are prepared for iterations and experiments alongside our players. Shoutout to 0xRyze from Cryptoraiders for being a true fren of Crabada and helping us along the way
One interesting problem we give players to solve is around nation building / community building. We start to introduce factions early on after launch, as a taster for more faction mechanics in the Battle Game (Q1 2022). We want to give players the option to align themselves with certain factions and contribute to the overall faction, while not overly restricting modes of play. So I think factions have potential to become a core mechanic, let’s see.
Economy is also an interesting topic. How to create an economy that does not overly rely on new players coming in to support it. On one hand, we have to compete with other games that promise endless rewards, but we believe in building a sustainable game that can stand the test of time.
With the battle game, we will implement a trifecta of inflation-reducing mechanics including fusing NFTs, using game NFTs as ingredients, and battle injuries with the aim of creating sustainable emissions. We want to push the boundaries a little, and hopefully take the blockchain gaming space a little further.
Telegram questions
What main reason that make Crabada chosen play and earn models instead click to earn, free to earn, play to earn and etc. How are the difference of play and earn that Crabada brought.
Tender | Crabada
For traditional mobile games, there are limited business models, the most popular being play-to-win, where it’s not really a great experience for players who have to spend to keep up with the game. Unfortunately, the reality is that this is required for operating cost for game developers. With blockchain, we can tap into the financial layer easily, and create new and sustainable business models where players can have a good experience and at the same time, developers can cover operating costs to keep building great game features.
Ambassadors play a very important role in every project, Do you have an ambassador program? If yes, how can I be one ?
Tender | Crabada
For sure, we are planning ambassador programs. We want to empower players that do well to impart their knowledge to the community, and teach others as well. This is still in the works, but hopefully we can announce it soon!
CAN you tell us about the security measures adopted by your platform? what is your project status regarding AUDIT? Are your smart contracts audited already?
Tender | Crabada
We’re currently in audit by Verichains for our sales, breeding chamber and timelock contract. We’ve had good feedback so far from them, and once the audit results are out, we will publish them
Earning the trust of investors is extremely important in a project. How do you manage to gain their trust and make them stay in the long term?
Tender | Crabada
I’m staying up till 5am to do this interview because I really want to spend time with you guys 😊😊
Most of the priority of the cryptocurrency community & investors is the symbolic price. When the price of $CRA token soars/pumps, the community rejoices and grows. When the price of $CRA your token drops/dumps, many people are fear, uncertainty and doubt (FUD) of Crabada.
So, How do you deal with this or how do you deal with your investors panic if $CRA token price drops/dumps?
What are your plans to strengthen and grow your community & investors so that they don’t just value Crabada in terms of the price of $CRA tokens only?Tender | Crabada
Last question! We built our economy for resilience. Currently in idle game we want early adopters to earn tokens easily. With battle game, we introduce many more ways to play, and this means many more ways to win!
We really care about our players, and alot of hours have gone into designing economy to survive ‘demand shocks’, such as allowing Crabada to become ingredients like Crab soup? 🤔
I hope players will look forward to them!
Dave Donnenfeld| Avalaunch
A big thank you @Oxtender This has been great.
Tender | Crabada
Thanks Avalaunch, and thanks everyone for taking the time to join!
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XAVA Locking & XAVA Points
What are XAVA Points?
XAVA Points (XP) are a representational unit of XAVA that can be allocated toward your stake for any IDO. Unlike normal XAVA, they cannot be purchased or traded, but are earned across the platform by staking XAVA and through various actions like locking XAVA and community-driven tasks.
Avalaunch Tutorial Quick Links:
Staking XAVA:
For every XAVA staked in the allocation staking pool, you will receive 1 XAVA Point. These points don’t represent any additional benefit beyond your normal XAVA, but are simply grouped with earned points for ease of use during IDOs.
How to Earn Additional Points:
Currently, the only way to earn extra XAVA Points beyond your stake is by locking your XAVA, however, there will be more ways to earn in the near future centered around continued participation and community engagement.
You can alway check your current XAVA points and history under the XAVA Points tab.
Video Tutorial:
How to Lock XAVA:
A user will now be able to lock their XAVA for a predefined term (3,6, and 12 months), for a multiplier on that XAVA, in the form of XAVA Points.
Important: You cannot unlock your XAVA until your selected lock term ends.
You can alway check your current XAVA points and history under the XAVA Points tab.
How does XAVA locking work?
When you lock your XAVA for a predefined term, you’ll receive additional allocation power in the form of XAVA Points that can be used toward any IDO.
There are 3 locking terms you can participate in, each with a set multiplier:
- 3 months → Receive 1.3x XP Multiplier
- 6 months → Receive 1.5x XP Multiplier
- 12 months → Receive 2x XP Multiplier
Example Scenario:
- You lock 1,000 XAVA for 3 months.
- When locked: You will have 1,300 XAVA Points which you can allocate toward IDOs. The additional 300 XP in this case are the XAVA Points you earned via the multiplier.
- When unlocked: You will receive your 1,000 XAVA back, and the 300 XAVA Points will expire.
How to Upgrade Your Lock:
If you want to upgrade your locked XAVA to a longer term without purchasing and locking more, you can do that under My Lock History under the XAVA Points tab.
To re-lock XAVA for a stronger multiplier, click on the Upgrade button:
Once you click on the Upgrade button, a module will appear where you can upgrade your lock to a longer term.
Lock Analytics:
Global analytics – what has been locked up and for how long – are available on the XAVA Points tab.
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Setting Up Sale Automation
Video Tutorial:
Sale Automation Features:
Avalaunch IDOs now include two automations (Auto-Buy & the Booster Round) that require a deposit of AVAX to execute successfully. This guide provides steps to set up those features.
Avalaunch Tutorial Quick Links:
Deposit AVAX Collateral:
The deposit modal can be accessed through the Automations tab under the Accounts page.
Users will also be prompted to deposit collateral with predictive amount recommendations during registration as well.
During an active sale, you can check the automations tab to make sure that you have met the recommended collateral, which will be based on your current stake and predicted allocation.
Set Up Auto-Buy:
Auto-Buy is an Avalaunch automation that will allow a user’s allocation to be automatically purchased during the IDO sale window. When enabled, a user will no longer be required to be present during the sale to purchase their guaranteed allocation, as long as they have deposited the recommended collateral.
Right now, the recommended collateral will be 2x your predicted IDO allocation. In order to ensure you receive your full available allocation, please deposit the recommended amount.
Deposit AVAX Based on Your Predicted Allocation:
The recommended collateral is two times the collateral needed for your predicted allocation, which includes gas fees. This ensures that you receive your maximum allocation, although you can deposit less.
How Does Auto-Buy Work?
Auto-Buy can will become active during an IDO period and can be enabled at any time up to the beginning of a sale, including after you have registered. Once the sale begins, you cannot disable the Auto-Buy automation.
You can locate the Auto-Buy modal under your Automations tab.
In addition to no minimums and guaranteed allocations, Avalaunch is the first launchpad to offer the type of stress-free user experience which allows for passive participation in an IDOs.
Your participation in an Avalaunch sale can start and end with registration. With our new set of automations, our IDOs are now not only guaranteed, but can be entirely “hands off.”
Opt Into Booster Round:
Historically, there have always been unsold tokens in our IDOs as a function of our guaranteed allocations. If a user’s allocation is guaranteed to be waiting for them during the sale, there is always a chance that they don’t show up, leaving a remainder.
For our past 19 IDOs, we have purchased these unsold tokens at our cost and airdropped them to sale participants. While we felt this was a reasonable and generous solution, there has always been demand for a “last chance” offering of the leftovers.
The Booster Round is our response to this request.
How Does it Work?
The Booster Round is an opt-in final round which will allow stakers to pick up additional allocation after their guaranteed allocation in the Staking Round. Enabling will become active during an IDO period and can be enabled at any time up to the beginning of a sale, including after you have registered.
This round, like auto-buy, is automated and there is no need for a user to be present during it.
You can locate the Booster Round modal under your Automations tab.
In order to be eligible for the Booster Round, a user must first opt-in before and deposit the recommended collateral before the IDO begins. In addition to the collateral, you will be required to deposit AVAX for gas fees. This is to ensure that the transaction executes and the automation is 100% reliable.
Once the Staking Round has concluded, the application will begin to automatically scan the list of participants that have opted-in, sorted by stake, with the highest stake first.
If a user has opted in and deposited collateral, it will automatically purchase up to 1/2 their allocation in the staking round, with a hard cap of $300. No user will receive more than this, regardless of their stake.
If a staker has not enabled this feature or not deposited collateral, they will be skipped. If the user has not deposited enough collateral to receive the maximum Booster Round allocation available to them, whatever collateral is available will be used, and the application will move down the list.
Why Not “First Come First Serve?
The Avalaunch application was designed to remove the stress, confusion and need to be first from the IDO process. A round where the person who was the fastest or cranked their gas the highest “wins” would be antithetical to all of the design choices we have made to date. While we understand the desire, we simply prefer a more orderly solution.
With the collateral requirements and hard caps in place, we anticipate that the the Booster Round will allow for hundreds of participants to receive additional sale allocation, without sacrificing any of our core design principles.
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Crabada AMA #1— Project Overview with 0xTender
Join us in the Avalaunch Telegram group for the first of two AMAs with the Crabada team.
First up is Co-Founder, 0xTender, 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: 11/01/2021
- 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 & Crabada
♻️ 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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How to Acquire XAVA
In order to participate in Avalaunch IDOs, you will need to acquire the XAVA token.
Step 1: Purchasing AVAX from Coinbase
Step 2: Connecting to MetaMask
Step 3: Send AVAX from Coinbase to MetaMask
Step 4: Exchange AVAX for XAVA
Step 5: Connecting MetaMask to Avalaunch
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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 long 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 this powerful L1.
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 been 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.
Roadmap
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 roadmap 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
Before end of Q1 2022, the Battle Game is slated for release and 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.
Crabada Links
Website | Telegram (Discussion) | Telegram (Announcements) | Discord | Twitter | Whitepaper | Medium
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: 11/2/2021 at 3 p.m. (UTC)
- Registration Closes: 11/6/2021 at 6 a.m. (UTC)
Sale Schedule:
- Validator Round Begins: 11/8/2021 at 6:00 a.m. (UTC)
- Validator Round Closes: 11/8/2021 at 6:00 p.m. (UTC)
- Staking Round Begins: 11/8/2021 at 6:30 p.m. (UTC)
- Staking Round Closes: 11/9/2021 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
-
Oh! Finance AMA — Project Overview with Rick Seeger (Recap)
On 10/22/2021 at 12:00 p.m (PST), an AMA session was held on Avalaunch with special guest Rick Seeger, Co-Founder of Oh! Finance. 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 Oh! Finance.
I hope you all have your popcorn ready and seated comfortably.
Today, we are fortunate enough to have the co-founder of this heavily anticipated project with us, Rick Seeger and rumor has it that Mason Schuler, one of the directors of Oh! will also attend. Either way, welcome to our active, vibrant and lovable Avalaunch community.
How are you today @RickOhFinance
Rick Seeger| Avalaunch
Doing great!!!
Dave Donnenfeld| Avalaunch
Let’s get right into it and hit the ground running — To begin with, please give us a bit of background on yourself. What did your career and education look like before crypto, and how did you end up focusing on blockchain technology, and specifically DeFi?
Rick Seeger| Avalaunch
I was an electrical and computer engineering dual major, with minors in math and business. I come from a background that is deeply appreciative of code, technology, specifically emerging technologies, as well as, how does technology integrate with business. Enter blockchain. I’ve been in the crypto space in some way shape or form since 2011 — writing trading bots, different trading algorithms, yield algorithms, and having just a general appreciation of public ledgers etc. As blockchain started entering mainstream I joined the Azure Blockchain and Technology team and immersed myself even further. At that point DeFi was just a natural progression of everything that came before it — technology, business, and math = DeFi. DeFi is a way to bring power to the people which is the ultimate empowerment and embodiment of technology!
Dave Donnenfeld| Avalaunch
and you’re a speed typer to boot.
Rick Seeger| Avalaunch
Tech my whole life!
Dave Donnenfeld| Avalaunch
How did such a technically strong team with backgrounds as diverse as Amazon, Microsoft and Oracle consolidate, and how did you come to unify your vision as Oh!Finance?
Rick Seeger| Avalaunch
Mavis would be proud.
I hope you get that reference.
Like crypto, the technology world is small. The venn diagram gets even smaller when you include crypto and blockchain. So we’re a couple sets of “IRL” friends who were all working in the PNW / Bay Area / SoCal who were intro’d through mutual friends. We had been talking about launching a token for the most of the past bull run and after talking with friends, family, advisors, and just taking our own opinion and passions into mind — Oh! was born! Our entire team is technologists who are blockchain savvy. We were fielding way too many questions on “how to break into” crypto and that’s when we knew the space was still too immature and the right product did not yet exist to bring in the “normie” — ie — our friends… aunts — uncles — etc!
Dave Donnenfeld| Avalaunch
That’s ambitious to be sure
What was the decisive point to build something as ambitious as Oh!Finance, and why leverage the power of blockchain to achieve this?
Rick Seeger| Avalaunch
Great question!
She’s proud
This makes me so happy that you found this.
I could answer this two ways. 1) When my uncle asked me for the hundredth time how to buy ETH and what is metamask (the ‘fox thingy’) and he’s heard people are making “5%” on their money and how can he do that too!
The typical return on a ‘safe’ investment is around 2.7% depending on your benchmark.
So the other way I could answer this would be 2) after using Curve for the two hundredth time and realizing that while being an incredible product — institutional grade…
It’s simply too hard to use and way too hard to explain to really anyone that isn’t deep into blockchain. It’s a _very_ hard interface. I guess most simply — user experience matters.
Dave Donnenfeld| Avalaunch
What is the uniqueness of Oh!Finance, and how does this set it apart from its competitors?
Rick Seeger| Avalaunch
Apart from what we hope is some excellent (and fun!) branding?
We think our docs do an excellent job explaining our differentiators — so I’ll link them here docs.oh.finance
But I want to call out a couple points / highlight a couple of points…
“Earn more with your DeFi Dollar by using a Yield Index. Deposit stablecoins and gain yield-generating exposure to multiple DeFi Protocols. Minimal gas fees and automatic compounding.”
What does that mean? For us, it means earn yield and a safe and efficient way.
We call out specifically our “Yield Index” which we call our “DeFi” index
It takes the complexity out of yield. USDC goes in and USDC comes out. Simple. Safe. Secure without a complex interface or any of the confusion that comes with all the various products, interfaces and yield opportunities.
The “normies” are overwhelmed by “yield farming” and even the degens are exhausted by all the different options. Heck, I’m exhausted by all the options. Sometimes even myself wants to just set and forget and revisit.
So harkening back — user experience matters and easy of choice matters which I think really sets us apart!
Dave Donnenfeld| Avalaunch
Nicely addressed. Oh!Finance is built around the idea of people being able to get more for their own money. How does the protocol work to achieve the competitive rate of 10–20% APY return on stable coins (USDC)?
Rick Seeger| Avalaunch
This one is a complex yet rather simple answer. The power of the DeFi index. By rotating on multiple protocols and rebalancing on multiple protocols you a) ensure you don’t have a single point of failure and b) you are able to squeeze out maximum yield as well (in a SAFE and SECURE way!)
Additionally, just being flexible and aware. There’s new protocols nearly daily — understanding what they bring to the table is critical — whether that’s a impressive new yield strategy that we can work on top of — or a really great idea in terms of how to rebalance — the defi space is full of a ton of bright minds. Ensuring our protocol is ‘out in front’ will keep those yields impressive.
Dave Donnenfeld| Avalaunch
Flexible and aware. This is a differentiator.
In the world of DeFi, where smart contracts control most of the operations, security is a big challenge. Can you talk about the measures taken to achieve high-level security of your protocol?
Rick Seeger| Avalaunch
This is we internally call the “normie defense protocol”
and what we mean by that is — no one (aunts, uncles, brothers, etc) will put money into anything that isn’t safe. There’s still an enormous ‘cloud’ over DeFi andn crypto most broadly.
So this is something we took extremely seriously.
And I know this sounds like “every other protocol” out there, but it has to be stated all the same.
Top quality audits. We’ve had a completed audit by an industry leader in Halborn (https://halborn.com/) who owns nearly every award in the opsec and contract security space (Ava Labs is a partner with them — that should tell you something!)
And we’re undergoing another one by industry leader Quantstamp. It really doesn’t hurt that Don Ho from Quantstamp sits on our advisory board!
Dave Donnenfeld| Avalaunch
Good stuff Rick and Don Ho is definitely a good guy to have on board.
Since we are on the topic of security, are you able to elaborate in more detail about the partnership with Bridge Mutual to provide protocol insurance, or at least talk about how this will work from a user perspective?
Rick Seeger| Avalaunch
Almost as good as having Avalaunch as our IDO partner 💪!!
That’s what we call the “normie defense protocol 2”
I’m half kidding, but not really. Insurance is a really big deal for feeling “safe and secure” and specifically defi insurance will be very important as DeFi becomes more mainstream.
If you’re in the US — you can liken it to being FDIC insured — it’s an additional peace of mind.
It’s an integration that is planned for Q4 — ie we’ll be working on it shortly after launch. Mike from Bridge sits on our advisory board and BMI will be covering our insurance for our Ethereum product. From an end user perspective they’ll be a widget where a user can deposit their USDC and insure it on deposit! Candidly, we’re still sources and researching Avalanche insurance providers and hope to have an integration partner soon!
Dave Donnenfeld| Avalaunch
Nicely covered. Since we are on the topic of security, are you able to elaborate in more detail about the partnership with Bridge Mutual to provide protocol insurance, or at least talk about how this will work from a user perspective?
Rick Seeger| Avalaunch
(Also if you happen to be an Avalanche insurance provider and reading this AMA — please reach out! We’ve got a couple meetings in the next days/weeks — but going back to an earlier answer — we pride ourselves in keeping our ear to the ground!)
I think we answered that one!!
BUT
I think this is a good point I didn’t mention in the previous answer
Dave Donnenfeld| Avalaunch
Well it was unintentional but glad to have the segue back from you.
Rick Seeger| Avalaunch
That ETH has many obvious challenges — gas fees being paramount — that’s exactly why we’re launching on Avalanche (on Avalaunch!) and why we’re such stark believers in the broader Avalanche ecosystem!
Insurance on Ethereum is important but we very much plan to be the “Bank of DeFi” and that starts with having incredible blockchains backing our product (and insurance providers too)
Dave Donnenfeld| Avalaunch
Excellent. Appreciate the added thoughts. Now that I’m ready to stop repeating myself — Can you talk about the utility of the token for the project? What roadmap milestones should token holders be excited to see in the near future?
Rick Seeger| Avalaunch
Ahh! The roadmap question! It’s one that probably excites us the most.
But I guess I should start with utility first.
Like the entire Oh! Mantra — our token utility is simple. Be your own bank. I don’t remember the exact metric but something like 99% of bank profits do not go back to those that actual perform banking services
The OH! token is a true governance token. OH holders will have a say from everything from protocol fees to buyback percentages to adding new strategies. As I just said, we liken holding the OH token as being a shareholder in your own bank.
The mechanisms for OH are as follows (again borrowed from our docs.oh.finance ):
Oh! Finance is designed to bring value back to the protocol through Profit Share. 20% of protocol profits are retained to buyback and burn the Oh! Finance Token.
It makes a rather nice ‘fly wheel’
Let me grab that image really fast
So it’s really intended to be simple. TVL goes into the system and the profit generated from that TVL buys back the token.
The “Banks” profits are returned to the token holders.
So in addition to having a say into the protocol the holder is rewarding with constant buybacks and burns (capital destruction)
As for roadmap milestones — outside of finally catch up on sleep — it’ll be launching the beta app on launch day to instantly allow users to start earning yield on their USDC then it’ll be a big site overhaul from v0.9 to v1.0 and finally it’ll be OH emissions and staking as well as future strategies and potentially even more chains.
We’ve also got some fairly incredible ideas about packaging up “DeFi tranches” or “bonds” that can be mutable across chains which again plays nicely into that “be your own bank” mantra and providing asset tranches (defi asset tranches) to the “normies”
Dave Donnenfeld| Avalaunch
This is going to do work over time. People tend to overlook functions like this until it’s too late. A heavily used network can burn through a ton of token if you can look around the corner.
What does the long-term vision for the project, post-IDO look like? What should token holders be looking forward to in 3, 6, or 12 months from now?
Rick Seeger| Avalaunch
Exactly. High emissions benefits no one. Organic growth is best — bridging TradFi to DeFi here really unlocks enormous potential because their expectations of “high” yield are completely different from ours.
I’ve touched on this a bunch, but we’ve got some very ambitious plans. We want to be the “Bank of DeFi” — and as I literally just stated we are aggressively partnering with TradFi firms to bolster our reputation (and thus TVL), as well as, introduce TradFi to the powers of DeFi (Macrohive is on our early investors who is helping to aggressively bridge that gap and has immediately seen the power of DeFi). And while Avalanche will always be our “first” home we’ll be sourcing other chains too, as well as, onboaridng new yield protocols (and tokens! USDT, DAI, etc) into our DeFi index. For example, just today Alpha Hormora launched on Avalanche — that’s going to be an exciting protocol for us to look into and integrate with our platform!
Dave Donnenfeld| Avalaunch
Avalanche is a close knit community that is rising really fast. How does Oh!Finance fit in the Avalanche ecosystem? What were the deciding factors to build here?
Rick Seeger| Avalaunch
So many reasons. The community is probably the number one reason. I haven’t seen a crypto community quite like avalanche in my years in the DeFi space.
But there’s also just the actual protocol itself.
The consensus algorithm is second to none, the subnets offer some flexibility as regulation becomes more spelled out and known, and from an end user perspective (again remember how important UX is!) the time to complete a transaction is critical. 45 seconds is a LONG time for a transaction to process and that’s one of the reasons Ethereum is such a hard sell.
Also — our algorithm is more efficient when it can compound more frequently. Cheaper gas transactions means more compounding which equals more yield!
Dave Donnenfeld| Avalaunch
The Avalanche advantage is real. Actually before we transition to Twitter questions, let’s do a few questions on the tech side. A bit of a deeper dive since we have you here.
As a software engineer and somebody with financial innovation experience, what would you say have been the biggest hurdles in developing the protocol on the blockchain as opposed to building it on the traditional finance infrastructure?
Rick Seeger| Avalaunch
You’re going to out me as a ‘dev’ aren’t you. I can speak towards some of this and I’m sure Noah could go much much much deeper. But the development tools and available information come to mind.
The EVM ecosystem is still relatively new and small compared to other development sectors, such as Javascript or C#. There are only a few options for scaling contract projects, so you are left to build most everything.
It’s also much more difficult to find information about solidity or how the evm will behave in a particular situation (the docs are still being built out — very much ‘testing in prod’)
There aren’t archives of stack overflow answers to go through and most of the time it’s a ton of trial and error running tests or going through other code repos.
But that is one of the biggest reasons why top tier audits are critical. Testing in prod is an important defi concept but security should never be overlooked!
Dave Donnenfeld| Avalaunch
That is thorough. I think you’re officially outed
How long has the project been in development? Was there a long research and ideation phase before work began?
Rick Seeger| Avalaunch
I prefer the biz dev side of the house, but we all get our hands dirty!
So months in defi are equivalent to dog years, right?
It does FEEL like it’s been forever, but truthfully, This project has been in the works for just over 1 year. DeFi summer of 2020 was a huge motivator for OH and yes, the research and ideation phases were quite a bit longer than anticipated.
You’d be shocked at how people (normies) interact with the web and what people consider to be incredible yield (>5% is HUGE). We had to strip away all our assumptions and knowledge to try to build something that institutions will hopefully want to invest in — and those regression sprints are STILL ongoing and we’re sourcing our final feedback from partners such as Macrohive. It’s exactly why we’ve built our release around a stripped back beta to a quick final iteration sprint for the final ‘UI/UX’ and then Staking/Emissions. Those ‘final’ changes we’re making are very very important!
Dave Donnenfeld| Avalaunch
What does the core development team look like? How many people are dedicated to building this protocol?
Rick Seeger| Avalaunch
We have 4 core devs (2 solidity engineers, 2 web3 developers), a core front end team who’s sole mission is make DeFi easy (see my response above!) 2 dedicated community managers, 1 dedicated turkish community manager, advisors aligned to both crypto and the real world, and even advisors very much aligned to ‘just’ crypto.
The entire team “gets their hands dirty” and we almost all come from tech backgrounds — we do a little bit of everything!
Dave Donnenfeld| Avalaunch
Everyone is infused with energy when hearing about Oh!Finance, and we are thrilled to be able to offer it to the Avalaunch community. Can you give us a bit of history about your interest in the Avalanche community and technology?
Rick Seeger| Avalaunch
I touched on this a little bit above, but since we’re doing more a deeper tech dive…
I’ve been personally enamored with Avalanche since the ICO and specifically the consensus protocol. We think it’s far more scalable than Ethereum, Fantom, and the L2s by comparison.
When you think Visa level throughput and financial transactions such as yield farming and aggregation, there really isn’t a better blockchain to be operating on.
Finally — and this is the ‘based in the US’ fears — Avalanche subnets will be extremely powerful when regulation starts coming.
Love it or hate it — it’s coming and Avalanche will be uniquely positioned to differentiate and ensure many protocols can stay running in a legal manner
Dave Donnenfeld| Avalaunch
The regs point is a good one. Final question and we can move on to the good people of twitter — Is there anything you can share about the project that the community might not know yet? Any “alpha” you are willing to reveal?
Rick Seeger| Avalaunch
I feel like I used up my alpha!
So I’ll retouch on some of it!
We’re having very real conversations with very real hedge funds and ‘heads of business’ who are exploring DeFi and who love the “Grow with OH” mantra
Think 60/40–40% is that ‘bond’ money that is safe but barely earning and negative in some cases
1% of that bond money going into DeFi is billions of dollars.
Macrohive is coming on as a formal advisor and will open some massive doors for the Oh! team and help bridge TradFi to DeFi
Finally! I’ll just share some upcoming screenshots ! Since we haven’t shared too many yet!
That’s the v1.0 coming out shortly after launch! In testing with our tradfi friends 🙂
Twitter Questions
@DngGiaPhong2 I could notice OH! Finance will focus only on fiat backed stable coins, but what about algorithmic stable coins or cryptocurrency backed stable coins? Do you think they are not stable or secure enough yet? Do you plan to incorporate them in the future?
Rick Seeger| Avalaunch
At launch it’ll be ‘just USDC’
with USDT and DAI likely shortly thereafter.
Algorithmic is where it gets far more difficult an answer. internally we ‘battle’ over this
We’d have to do a ton of due diligence and if the stable isn’t full collateralized it presents risk. Our platform is about low risk. Simple. Safe. And secure. So while I don’t want to rule it out entirely
I would guess the algo stables we’d likely not introduce.
@NgocCam0110 In recent time, there are many DeFi lending -borrowing platform attacked, so how Oh! solve this problem to make users feeling safe when choosing Oh! Platform?
Rick Seeger| Avalaunch
Really great audits for one.
Halborn is ‘best of the best’ and as I’ve stated Don Ho sits on our advisory and will ensure a full Quantstamp audit as well. Trust the auditors more than the platform. They are seriously smart and it is their job to ensure smart contract safety.
Also, learn from others mistakes
For example — how you rebalance funds is critical — Belt finance comes to mind of a protocol that was exploited because of how they rebalanced. The auditors help with this, but we are also ‘scholars’ in the space — so we’re constantly reading and ensuring we’re staying up to date
@sarmadoludondu1 What is the meaning of the “Oh!Finance” I thought that “Oh thank gosh at least there is a finance that I count on.”
Rick Seeger| Avalaunch
LOVE THIS QUESTION.
I mean we’re going to get so many memes for our first meme contest
but for us — it was the ‘a ha’ moment
the “OH! This IS what finance is supposed to be like and “OH! DeFi CAN be easy and accessible”
@tulong890 Oh! Finance aims to deliver a consistent 10–21% APY, but it may seem strange if your target is too high. Do you have strong arguments to remove this hesitation, how will you make it possible to return 2 times more than other alternatives?
Rick Seeger| Avalaunch
- catching peaks and valleys of stable arbitrage. It’s how we rebalance and generate the yield.
ANd candidly if borrowing down, yield will also be down
for example during the ‘peak’ of the mini-bear we ‘underperformed’ at around 8% however were still better than the market average — for in-kind yield no including native token emissions
and not including chain emission events such as Avalanche Rush or others!
and then 2) Ear to ground.
Great new protocols launching daily; intelligent rebalancing and folding will keep our yields near or hopefully in-line with our estimates!
@Lekha8812 I’m still new to crypto, how do you make Your project easy for anyone? Including those who don’t understand crypto will also use Your project?
Rick Seeger| Avalaunch
Favorite question of the entire AMA
That question is literally WHY we built Oh
We are trying our best to bring “normies” into DeFi. So yes, we’re hoping you’ll be able to use our project!
But it starts with really excellent tutorials which will be launching this weekend as well as a welcome bot that helps triage issues and get you set up with USDC and metamask.
ONboarding in crypto and yield is hard — we intend on making it easier!!
That question makes me so incredibly happy
I’m a huge degen — not even going to lie.
Minted a bunch of Bridging Bears — jump into all kinds of yield farms — you name it. But onboarding NEW users is literally why we hope Oh is successful.
Dave Donnenfeld| Avalaunch
Thanks for enduring so many questions and glad we got to the feel good stuff too
Final leg of the journey…
Telegram Questions
Almost 80% investors have just focused on price of token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term?
Rick Seeger| Avalaunch
Not sure where the 80% metric came from, but Oh! is literally built for the bear. Earning simple safe and secure yield is something that will always be desirable and should for the foreseeable future outpace all traditional markets. As for motivations — our motivations are to literally merge tradfi and defi. If we can accomplish even .01% of that we’ll be quite successful!
So many projects just like to speak about the “long term vision and mission” but what are your short terms objectives? What are you focusing right now?
Rick Seeger| Avalaunch
I thought this actually played nicely off the previous question. The ‘right now’ is securing TVL and letting the protocol work. We’ll have protocols working on both Ethereum and Avalanche and will be adding new yield opportunities as the market allows (see: comment about Alpha Homora)
Tuyen Trab☺️☺️
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?
Rick Seeger| Avalaunch
The UI team we brought in is very “normie” and what I mean by that is they aren’t in any way DeFi focused. We had to teach them everything from “wallet connect” to “TVL” to other important metrics. It ensured that our product and UX was being viewed at from an entirely different persona. So many of us are too closely interwound into crypto that we forget what a good experience should look like.
Security and anonymity are always prioritized by BlockChain projects in the development of project platforms and technologies. So, does you have any technological solutions or plans to enhance user trust in these issues?
Rick Seeger| Avalaunch
We’re the opposite of anonymous. A team with decades of experience from FAANG companies and who are putting our faces out there. We’re also leaning incredibly heavily on our security partners such as Halborn and Quantstamp as well as more traditional OpSec / PenSec security which our advisory has been doing for decades more
My question is about your long term marketing plans. How, or through which big partnerships do you plan on utilising to pass your product onto the normal — especially non-crypto people?
Rick Seeger| Avalaunch
I think the majority of our longer term marketing plans will be around those ‘real world’ partnerships. We aim to be one of the first yield projects bridging yield to Traditional finance. Think of when a celebrity grabs a ‘hot new NFT’ — well a hedge fund invested in a yield protocol and backing it with significant TVL helps our protocol function and acts in a very similar function to the ‘protocol flywheel’ except it’s more a ‘marketing flywheel’
Dave Donnenfeld| Avalaunch
Rick, you’ve been an absolute solider and thank you for taking the time to come here today. We covered a lot of ground and it’s great to see awareness for Oh! growing at such a rapid clip. DeFi for normies is ambitious but you’re making it look possible. Our community appreciates your work and we look forward to the upcoming IDO.
Any parting words for our community or a shameless plug?
Rick Seeger| Avalaunch
Shameless plug — We hope your Grow your USDC with OH! and are excited about our platform launch in the coming days as we are!! That TVL will make the entire protocol work better and I hope my words here help you believe in our mission!
Finally, thank YOU to the entire Avalaunch community
I’m incredibly excited about our IDO and the entire community, platform, and experience from start to end has been incredible!
-
Oh! Finance AMA — Project Overview with Rick Seeger
Join us in the Avalaunch Telegram group for an AMA with the Oh! Finance Team.
We will be joined by Co-Founder and Director, Rick Seeger, 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 $50 USDT each, for a total of $500 in prizes
Date & Time
- Date: 10/22/2021
- Time: 12:00 p.m. (PST)
- Where: Avalaunch Telegram
AMA Contest Rules
To be eligible to have your question selected, you must:
🐣 Follow: Avalaunch & Oh! Finance
✈️ Join: Avalaunch Telegram & Oh! Finance
♻️ 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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Oh! Finance x Avalaunch—IDO Announcement
The next Avalaunch sale will be Oh! Finance. Although gaming and play-to-earn models have been receiving a lot of thunder in crypto, a stable yield on stable assets (and ones that far surpass traditional savings account) are penetrating the mainstream. “Normies” with historically no interest in blockchain and crypto are beginning to wake up to the future of money, the freedom it offers, and the fundamental shifts happening across DeFi.
What better time than now to usher in Oh! Finance—a high frequency yield optimizer built on Avalanche, which leverages Avalanche based strategies.
Overview
Oh! Finance offers a painless way for users of the protocol to earn impressive returns on stablecoins. In terms of performance through extensive testing, Oh! Finance high-frequency algorithm has consistently clocked returns of 10–21%, with recent testing steadily garnering 17–18%.
At a glance, such returns may not be particularly notable to crypto users, however, one must realize that these returns are achieved in a low-risk environment—single-sided staking with stablecoins. Typically, the inordinately high yields seen in crypto are the result of incentivized liquidity pools that reward LPs and stakers with a speculative token in order to drive unsustainable APY. It is a dilutive event and the returns are typically short-lived.
Stablecoin arbitrage quite literally puts money to work and it has become a point of entree for larger investors and individuals looking to mitigate risk. Considering that well-known platforms like Compound, Vesper, Voyager and Celsius struggle to reach double digit returns, Oh! Finance’s returns, without additional risk, are indeed something to stand up and take notice of.
Oh! Finance is stablecoin arbitrage done better.
The team is comprised of consummate professionals with a former technology strategist, consultant and developer from Microsoft, AWS and Oracle. They are also crypto veterans who have turned their focus on DeFi with the advent of Oh! Finance.
Value Proposition
Avalaunch believes Oh! Finance is ripe for bonafide adoption as it offers a genuinely simple, “set it and forget it” solution, with an emphasis on security and insurance — both keys to the broader adoption of DeFi protocols. Its strategy is to continually re-evaluate yields and automatically optimize holdings by identifying the best yield at any given time. This is not something one can do manually and is more dynamic than an auto-compounder, as they are linked to the pools one enters, which does not ensure the best yield in real-time.
Oh! Finance heralds itself as DeFi made easier, designed smarter and done better, urging users to “fight back with the future of money.” These are bold proclamations to make, but projects tailored for “normies” number few and this is one of the more compelling we have come across.
When asked about the impetus to create Oh! Finance, Noah Coomer, Co-Founder, said:
“We built Oh! as a product we wanted to use. Chasing safe yield was become exhausting. Teaching our friends and family about DeFi was becoming exhausted. With Oh! we’ve made yield simple, safe, and secure.”
The protocol’s core strength rests in a unique strategy to create a low risk proposition for far higher than usual yields. With Oh! Finance you will see:
- Single-sided staking using USDC.e
- 10% to 21% yields
- Non-custodial
- Insured through Bridge Mutual
- No KYC—they do not store data
- Intelligent Auto-compounding—return maximization
- Seamless Fund Management—Aave and Curve to start
- No locking—Able to withdraw funds at any time(+ the earned interest)
With the OH Token:
- Governance—Oh! Finance is a fully decentralized protocol, where users democratically vote on and agree to protocol updates and modifications.
- Profit Share—Oh! Finance is designed to bring value back to the protocol through Profit Share.
- Deflationary—20% of protocol profits are retained to buyback and burn the Oh! Finance Token.
Lending protocols are not new for anyone in crypto. However, for those who still live in the traditional world, the current options in the banking markets are extremely limited. Large bank savings accounts offer yields that are typically less than 1% annually which functionally does nothing to hedge against inflation.
Conversely, DeFi lending platforms that offer single-sided staking for stable coins have variable APYs in the 3–10% range. While a considerable boost over stable coin swapping protocols and exponentially better than savings accounts, Oh! Finance’s offering is superior with the added reward of earning OH tokens.
We believe that Oh! Finance’s simple but potent solution lowers the barriers to entry for prospective DeFi participants. With consistent double digit yield will set a new standard in blockchain game development and we are incredibly excited to offer exclusively to the Avalaunch community.
Rick Seeger, Co-Founder, adds:
Like Oh!, Avalaunch believes today’s decentralized platforms are slow, confusing, expensive, and isolate both new and experienced investors. We’ve been working with the Avalaunch team for months now and they’ve exceeded every single expectation for what fundraising should look like. They literally brought the kitchen sink — a wealth of knowledge, marketing support, as well as, strategy and advisory sessions. It’s clear that Avalaunch is redefining fundraising with a more hands-on approach for the decentralized future on Avalanche!
Oh! Finance — Links
Final Thoughts
We have worked with this team for many months now and are impressed with their product most certainly. They are also aware of the importance of community building and building a strong base amongst the Avalanche ecosystem. The project, to us, exhibits all the hallmarks of a “slow burn” that can create a sustainable, lasting momentum.
Overall, they are here to contribute to the Avalanche ecosystem, offer something very attractive to users both inside and outside of crypto with their product. Their valuation and size of their public sale speaks to a grounded team who believes in what they are doing. Oh! Finance’s consistent double-digit yields on single-sided staking, no required KYC, insured and non-custodial offering will be very attractive to users both in and out of crypto.
Tokenomics
Funding Numbers:
Total Supply: 100,000,000 OH
- Seed Sale 1: 7M OH at .02
- Seed Sale 2: 8M OH at .025
- Private Sale 1: 20M OH at .035
- Private Sale 2: 4.66M OH at .06
- Public Sale: 7.5M OH at .08
- Hard Cap: $1,920,000 USD
Supply Breakdown & Vesting:
Total Supply: 100,000,000 OH
- Token Sales (Private, Seed and Public): 47.17M OH
- Protocol Incentives: 25M OH
- Foundation: 10M OH
- Liquidity: 7.83M OH
- Advisory/Partners: 4M OH
- Strategic Fund: 4M OH
- Community Fund: 1M OH
- Legal: 1M OH
Vesting:
- Seed Sale 1: 8% unlocked, 30-day cliff, linear* for 8 months
- Seed Sale 2: 10% unlocked, 30-day cliff, linear for 8 months
- Private Sale 1: 12% unlocked, 30-day cliff, linear for 8 months
- Private Sale 2: 12% unlocked, 30-day cliff, linear for 8 months
- Public: 100% Unlocked
- Protocol Incentives: Linear for 36 months
- Foundation: 30-day cliff, linear for 48 months
- Liquidity: 100% unlocked*
- Advisory/Partners: 30-day cliff, linear for 12 months
- Strategic Fund: 30-day cliff, linear for 12 months
- Community Fund: 30-day cliff, linear for 12 months
- Legal: 30-day cliff, linear for 5 months
*Linear vesting—tokens are released daily over the prescribed period of time
Other:
- Initial Circulating Supply: 11,940,000 OH (excluding liquidity tokens)
- Initial Market Cap: 955,200 USD
- Initial Liquidity: 7.83M OH and 626.4K USD in AVAX
The Oh! Finance IDO on Avalaunch
- 7.5M OH at .08 USD (Total Supply: 100M OH)
- Sale Size: $600,000 USD
Registration Schedule:
- Registration Opens: 10/21/2021 at 3 p.m. (UTC)
- Registration Closes: 10/24/2021 at 6 a.m. (UTC)
Sale Schedule:
- Validator Round Begins: 10/25/2021 at 6:00 a.m. (UTC)
- Validator Round Closes: 10/25/2021 at 6:00 p.m. (UTC)
- Staking Round Begins: 10/25/2021 at 6:30 p.m. (UTC)
- Staking Round Closes: 10/26/2021 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 OH for sale: 7.5M
- Price: $.08
- Size: $600,000
- Vesting — 100% Unlocked
-
RocoFinance x Rise Online AMA#2 — Technical Deep Dive with Mehmet Kurtoğlu (Recap)
On 10/15/2021 at 11:00 a.m. (PST), An AMA session was held on Avalaunch with special guest Mehmet Kurtoğlu, Co-Founder and Lead Developer of RocoFinance. Below we present to you an excerpt from AMA with questions and answers.
Dave Donnenfeld| Avalaunch
Hello and welcome everyone to Part 2 of our AMA with Mehmet Kurtoğlu from Roco Finance.
We are lucky to have him today as we will perform something of a technical deep dive.
Mehmet Kurtoğlu| RocoFinance
Hello everyone.
Dave Donnenfeld| Avalaunch
So let’s just get started and continue to educate people on the world of Rise Online and of course RocoFinance
For starters, please give us a bit of background on yourself. What did your career and education look like before crypto, and how did you end up focusing on blockchain technology?
Mehmet Kurtoğlu| RocoFinance
I have been in the game industry for about 10 years. We have been developing our game called Rise online for about five years. On October 29, the closed beta version of our game will be released. When we first started our game, we did not think that it would be blockchain-based, but we were working on an digital currency to be used in our payment systems for our game. We have planned the blockchain integration for Rise Online for the last 1 year. Although our developments continue and we have reached the testing phase of our products, we think that Blockchain will be a gateway to Global game players, so we devote most of our strength to blockchain developments for now.
Dave Donnenfeld| Avalaunch
At what point did you realize that Rise Online’s future was best served as a crypto-based game? Was this always the plan or did it evolve over time?
Mehmet Kurtoğlu| RocoFinance
We examined the games that are known worldwide such as PubG, League of Legends. In these games, we see that mostly users buy cosmetics item. Our game was very diverse in this respect and we thought that cosmetics revenue should be a top priority. We were already developing a payment systems. We combined the cosmetic items to be used in the game with the popular NFT technology today. Thus, we have enabled the use of crypto assets in our payment systems.
Dave Donnenfeld| Avalaunch
The payment system that enables crypto apps is going to pop. Very impressive
As a developer, what have been the biggest challenges for you in developing games for the blockchain relative to traditional game development?
Mehmet Kurtoğlu| RocoFinance
The main challenge for us was to make a difference. Because when we examined the contracts of many projects, we saw a lot of similarities, so we have developed brand new contracts that belong entirely to us. This was a process that increased our time cost. But innovation makes a difference and makes you rare. It takes hard work to be rare.
Dave Donnenfeld| Avalaunch
It sure does. What does the development team look like? How many people work to make Rise Online a reality?
Mehmet Kurtoğlu| RocoFinance
Our game developer staff is approximately 50 people while our number of blockchain developers is 10.
Dave Donnenfeld| Avalaunch
RocoFinane is not just a community platform, but also offers tools for developers. What are these resources and why are they important?
Mehmet Kurtoğlu| RocoFinance
ROCO is a decentralized GAMEFI platform which provides blockchain services to game developers, content creators and player communities through the blockchain network. Here are some benefit for developers….
R&D costs of partner companies decrease as they use Roco Finance’s products.
With the purchases made in our NFT Market, we ensure that all transactions are carried out in a transparent and secure manner. Thus, we minimize charge-back and fraud transactions.
Genuine ownership will bring more loyalty to gamings. We manage the IDO process of game developers with Roco Starter.
We support them at every stage of their crowdfunding process. Game developers can make initial asset offering through our NFT Market before even at pre-launch or post-launch of the games.
Dave Donnenfeld| Avalaunch
Your experience both developmentally and what you’re learning in crypto is going to be a huge value add. Props for this
How quickly do you expect these tools to be adopted? What are your metrics for success?
Mehmet Kurtoğlu| RocoFinance
Our products are;
NFT Market
Staking & Farming pools
Roco Starter (Launchpad)
Mobile Wallet
Payment Gateway Applications ( Software development kits (SDKs), APIs, game add-ons)….The development of our Stake and Farm pools has been completed and final tests are being carried out. Our development for the Roco starter (GameFi launchpad) has been completed. We will release the beta version of our NFT market in about 1 month. With the release of our NFT marketplace, we will start mobile wallet development.
Dave Donnenfeld| Avalaunch
It’s going to be very exciting to see you roll out. Lots of activity not long after launch.
What is your approach to security? For a game, what are your biggest concerns related to vulnerabilities?
Mehmet Kurtoğlu| RocoFinance
For an MMORPG game, it’s so common to see DDOS attacks to servers, as they are vulnerable when they are overburdened by players. Thus, we have teammates who only work for security of the servers, and we care about the power of our servers. We have also invested in hardware for cyber security.
For Roco Finance part, we care more about the token contracts and safety, that’s why we’ll be collaborating with many audit companies to cover our investors when the token’s deployed.
Dave Donnenfeld| Avalaunch
On that note — What type of audits have been performed? Has it been difficult finding resources to work in parallel to your development to make sure it’s secure?
Mehmet Kurtoğlu| RocoFinance
For Rise Online, we have Ddos and firewall devices to protect our servers and the game.
We secure from cyber attacks on our own with our teammates working only for security.About cheat security of the game, we use Anti-Cheat of Epic Games.
Stress tests were done with virtual machines 500 in Google Cloud, 500 in Azur.
We are improving our security checks with player tests.For $Roco token, no audits have been performed by audit companies yet, as we have not deployed our token contracts. But when it’s been deployed, more than one audits will be progressed as I already said.
Dave Donnenfeld| Avalaunch
Understood. Changing gears — What has developing on Avalanche been like for you and why did you decide to build here?
Mehmet Kurtoğlu| RocoFinance
Avalanche (AVAX) is a blockchain ecosystem that was designed to function as a secure, globally distributed, decentralized network.
Avalanche was built to solve multiple issues found in most blockchain networks today. The platform combats centralization by providing a viable alternative to networks like Ethereum. It also builds upon some of the shortcomings of that network with more programmability, features, and functionalities. Avalanche is designed to be scalable.
Specifically, the blockchain has can process 6,500 transactions per second. These transactions feature sub-second finality as well. In terms of operating costs, the Gas fees on Avalanche are much more affordable than Ethereum.Avalanche is a project that we follow data from the very beginning. We have a strong community in our country and we get along well with the Avax community. Another factor, of course, is that the Avalanche’s founder is Turkish.
Dave Donnenfeld| Avalaunch
Good to see that from the lead developer. Final question Mehmet before we move on to the treacherous waters of Twitter questions…
What part of the Roko ecosystem are you particularly excited about? What has the most potential?
Mehmet Kurtoğlu| RocoFinance
Similar products in many games are also available in our project. But the part that excites me will be integrating artificial intelligence (GPT3) into our NFTs. We will create a real metaverse. An NFT world that can think and decide.
Twitter Questions
@elif611_ We hear about a lot of projects that combine games with blockchain. Is there a project that
@RiseOnlineWorld sees as a rival? What are the most important features that distinguish you from other projects?Mehmet Kurtoğlu| RocoFinance
When we first started developing Roco Finance and NFT structure in our mind, we thought that Axie Infinity would be the main competitive of Roco Finance, and other GameFi projects of course. But when we examine carefully, Roco Finance has no competitive to any other project, because it’s distinctive in terms of token utilities.
We are creating a gaming ecosystem for everyone. Players can play to earn, and investors can stake to earn (especially from NFT marketplace fees, by only staking the token).
Enjin would be a good rival to Roco Finance as we also help blockchain integrations into the platforms and have NFT marketplace for them, but for the big picture, $Roco token has much more to be interested on, as an ecosystem token.
@RJM_500 Is there an official ‘rewards program’ at Roco Finance? How can we be rewarded with a referral program or by inviting friends to play on the platform (Rise Online World) for example?
Mehmet Kurtoğlu| RocoFinance
No actually. as you can assume, we care about the emission of the token so much that we do not have an airdrop program as well.
But interesting thing is that, there will be clan wars in Rise Online game. Everyone will be able to create their own clan and fight with other clans with their teammates.
We care about e-sport industry and we’ll definitely be looking for partnerships, tournaments from this area.
About tournaments, of course, there will be massive prizes to winner clans.
@AnuMajumdeR7 As You plan to Provide services to Partner Gaming Companies as well, Currently, have You partnered with any Gaming Partners? & Most Important, Why do these Companies need your Services? Please explain by giving any simple Example?
Mehmet Kurtoğlu| RocoFinance
Game development is a very costly and difficult . Blockchain technology, on the other hand, requires a separate expertise. For this reason, our aim is to shorten the R&D processes and facilitate their adaptation to this new world by providing services to game development companies on blockchain. We have signed agreements with about six companies. Announcements will be made soon.
@blackrose11221 Where can we access your game? is it available in the form of an application? Or is it still on a website? and what reward do you give us if we play your game continuously? is there any option in the game like mining or i have to go on an adventure to earn money,coins or NFT?
Mehmet Kurtoğlu| RocoFinance
You can check our websites, roco.finance / riseonlineworld.com (you can choose language as well) ..
On 29th of October, Rise Online’s closed beta version will be launched, and you can register if you want to play.
It’s actually a desktop game, you should download to play.
You know that MMORPG games contain character development as a main task, so you should go into dungeons, kill dragons and drop items to develop your character, and increase your level.
So when you kill a dragon, there’ll be a possibility that an item drops from it and you can wear, use, and sell at NFT marketplace if you want. Also, $Roco token will also be among these items.
But unfortunately, there’ll be no mining method in Rise Online for this period as it would create a massive emission.
@Krishstyle1 How accessible is you to players that are interested in cryptocurrencies but aren’t very familiar with them?What strategies do you have in mind to entice these kind of users?Do you have any plans to educate them while they’re playing?
Mehmet Kurtoğlu| RocoFinance
Yes, actually it was the main problem when we first announced that Rise Online would have blockchain utilities in the game. We have supportive community with many players, and they were afraid of that if Rise Online would be a pay to win game, which is impossible as it’s play to earn.
Interviews with Rise Online and Roco Finance developers, collaborating with influencer players will be the first move. And then, as technical, we are creating small guides for blockchain in Rise Online, and developing simple interfaces for everyone.
It’ll be more massive surprise from players to see that they can play, have fun and also can make money from the game.
As we already stated before, and always, Roco Finance will develop and have partnership with more and more games in near future, these games will be for everyone.
Telegram Questions
Will you have a mobile app that always makes mobile apps easy?
Mehmet Kurtoğlu| RocoFinance
Mobile app will not be made for Rise Online, but all of the games we will develop in near future will have mobile applications.
How can i start to play Rise Online? Can i start this game with free?
Mehmet Kurtoğlu| RocoFinance
You can download our launcher for play. Our close beta vers will be released on Oct 29 . Yes it is free to play
Do you have a buyback and burning features to increase attraction for investors and any incentivization reward for long term holders?
Mehmet Kurtoğlu| RocoFinance
Roco Finance will organize a buyback program. Buyback amount is 10% of annual revenue
Roco token holders can stake their own tokens and earn passive income.
10% of the Roco Token revenue from monthly membership fees and Rise cash sales will be
distributed to the stakers. We will apply the same reward distribution rate for all of our games
that we will develop in the future.How Do you planning to promote your project in different countries, wherein English is not spoken well? Do you have a local communities for them to better understand your project?
Mehmet Kurtoğlu| RocoFinance
Thank you for your question. For our seed phase, since the beginning, besides big names like Avalaunch, Ava Labs, Huobi Capital and Alameda Research, we also cared about our influencers and KOLs, leading to Asia, Africa, Europe and US communities.
We have investors with great communities worldwide, and as we have collaborated with them, investors and players around the world will see us much more in upcoming days.
The NFT space is a challenging market that is constantly changing and evolving. So, with which strategy do you, as ROCO, plan to ensure permanence in this sector? What moves will you make in terms of marketing?
Mehmet Kurtoğlu| RocoFinance
We are coming with a revolutionary project in NFT. By combining artificial intelligence with NFT, we will develop learning NFTs. This will be great for both the gaming market and blockchain technology.
Dave Donnenfeld| Avalaunch
Thank you. Mehmet you’ve been a great guest
And we appreciate you coming out.
Any final words for our community?
Mehmet Kurtoğlu| RocoFinance
Set your clans and let the war begin 🙂
Thank you all
