HAHA Coin: dApp Staking Proposal

Dear Astar Community,

My name is tora0515 and on behalf of the HAHA Coin team I am thrilled to present HAHA Coin’s application to be a part of the Astar Network dApp Staking program.

About HAHA Coin

HAHA Coin, the first meme coin on the Astar Network, is dedicated to championing and spreading awareness of the Astar ecosystem.

HAHA Coin launched on Astar zkEVM on March 14th 2024, and has been instrumental in both raising awareness of the Astar ecosystem and onboarding the community to Astar zkEVM.

Since launch the HAHA Coin has community has grown to:

  • 2.0k+ Telegram followers;
  • 4.5k+ Twitter followers;
  • 1.2k+ wallets; and
  • 8.8k+ transactions.

Tokenomics

HAHA Coin’s allocation breakdown ensures sustainable growth and development, with a focus on community engagement and token burn over team profits.

Allocation Breakdown

  • 60% of total token supply provided as initial liquidity on Quickswap
  • 23% of total token supply allocated to Degeneration Campaigns:
    • 15% Community growth
    • 5% Token burn
    • 2% Airdrop campaigns
    • 1% Zealy pre-launch
  • 10% of total token supply allocated to project development:
    • 5% Degen dApp grants
    • 4% Exchange listings
    • 1% Team funds
  • 5% reserved for $HAHA dApp staker rewards
  • 2% of total token supply allocated to initial liquidity providers

Notes:

Team Funds
To receive a distribution of Team Funds, team members must actively contribute to the project. Distributions are limited per month, and any remaining team funds after 12 months will be burned.

Initial Liquidity Providers
To ensure fair compensation for initial liquidity providers without placing early community members at a disadvantage, $HAHA allocations will be distributed based on relative initial Astar contributions. This results in a more expensive $HAHA value per $ASTR for liquidity providers versus launch price.

Neither Team Funds nor Initial Liquidity Provider allocations have been distributed to-date. Distributions will only commence once the initial airdrop campaign rewards are claimable by the community.

dApp Staker Rewards
The 5% of total $HAHA supply reserved for dApp staker rewards will be distributed evenly across 18 months. Stakers will earn an amount of $HAHA relative to their staking size.

If this application is unsuccessful, the entire 5% dApp Staker Rewards allocation will be burned.

How has HAHA Coin benefited the Astar Ecosystem

Pre-Launch
HAHA Coin conducted extensive campaigns to raise awareness and adoption of the Astar Network and its ecosystem by having participants carryout multiple Astar-based tasks including:

Astar Network:

  • Bookmark Astar Network website, portal, forum and docs sites;
  • Follow Astar Network twitter account;
  • Join Astar Network Discord channel;
  • Subscribe to Astar Network YouTube channel; and
  • Join Astar Guild and pre-launch wallet collection drive.

Astar Ecosystem:

  • Follow TAB medium page;
  • Follow Bluez.app and TofuNFT;
  • Follow multiple Astar Network project twitter pages; and
  • Interact with Astar Network project tweets.

HAHA Coin has chosen to partner long-term with Airlyft.one for project and ecosystem marketing and campaigns due to their strong Astar Ecosystem involvement.

Post Launch
Being first movers has given HAHA Coin a leading role in facilitating awareness of Astar zkEVM through such activities as:

  • Partnered with multiple established Astar Network projects moving to build on Astar zkEVM;
  • Worked with key stakeholders to ensure Astar zkEVM trading pairs are discoverable by charting sites;
  • Facilitated conversations between third party wallets and Quickswap to ensure Astar users can connect to Astar zkEVM from Astar-supported wallets;
  • Created documentation to onboard community to Astar zkEVM; and
  • Prioritized Astar ecosystem DEX as liquidity partners.

Availability

HAHA Coin’s initial focus is listing on Astar zkEVM friendly DEX’s in order to help promote the Astar ecosystem and increase the number of Astar zkEVM on-chain transactions.

$HAHA initially launched on Quickswap with an LP of 60T $HAHA and 56,400 $ASTR and recently partnered with VeryLongSwap (VLS) to create a second $HAHA/$ASTR LP available on VLS’s DEX.

Going forward, the project looks to launch additional LP on Astar zkEVM compatible DEXs and has allocated a percentage of initial token supply for future CEX listings.

How will HAHA Coin benefit the Astar Ecosystem going forward?

HAHA Coin has exciting plans, including the HAHA Hub and Degenerate Campaigns, aimed at furthering ecosystem engagement and community building.

At the forefront of our agenda is the implementation of a series of Degenerate Campaigns aimed at fostering deeper engagement within the ecosystem. These campaigns are designed to ignite excitement and participation among community members, driving forward the growth and vibrancy of the Astar ecosystem. Examples of these campaigns are:

  • A Play-to-Burn, Astar zkEVM on-chain game (Just launched);
  • Releasing community member art as a collaborative HAHA community co-creation NFT collection; to be minted on Astar zkEVM and partnered with Rarible;
  • Partnership with Astar ecosystem DEX to run LP and volume competitions (partnered with VeryLongSwap as secondary $HAHA/$ASTR LP listing);
  • Introducing a community grants program to encourage builders to create dApps on Astar zkEVM;
  • Running campaigns focused on promoting Astar and Astar-based projects such as the current Yoki x HAHA Giveaway campaign;
  • On-chain focused campaigns to increase Astar zkEVM transactions such as the current HAHA Web3 Takeover; and
  • Supporting and promoting Astar-focused projects born out of our community - NFTs, dApps, Games, and more!

dApp Staking Reward Usage Breakdown

Staking rewards will be used to increase Astar zkEVM network transactions through:

  1. Supporting liquidity provisions;
  2. Marketing initiatives which may include items such as: buy-backs/burn events, user acquisitions, and gasless claims for campaign participants; and
  3. Covering ongoing project development and maintenance costs.

Socials

Token Information

Contract: 0xA84DBE4602cBAcfe8Cd858Fe910b88ba0e8b8B18

Quickswap

VeryLongSwap

The team and I thank you for taking the time to read through our application. Your feedback and support are invaluable as we continue to contribute to the growth and development of the Astar ecosystem. Sequaja and I will endeavour to answer all queries in a timely manner.

Warm Regards,

tora0515

28 Likes

I do not think meme coin should be sponsored by dApp staking once is pure speculative, high risky and meme based project…otherwise if it gets backed by something real it is not a meme coin anymore.

What is the product? $HAHA token? Or making campaign over twitter and some?

Thanks for the proposal I would love hearing more from you

2 Likes

*editing for spelling mistake.

Alright, first comment! Thank you for getting the ball rolling and for the great question!

We fully acknowledge the speculative nature of meme coins; however, we also recognize their potential as potent marketing tools for a blockchain. HAHA Coin embraces this potential by leveraging the appeal of meme coins to attract new users and wallets to the Astar Network. Through our concerted efforts, we actively contribute to the growth and vibrancy of the Astar ecosystem.

This makes our primary product is not just the $HAHA token, but the various initiatives, partnerships, community building, and campaigns we run that increase awareness and adoption of Astar zkEVM.

A few examples of these include:

  • Play-to-Burn game on Astar zkEVM
  • Community-driven NFT collections minting on Astar zkEVM in partnership with Rarible
  • Promotion of Astar ecosystem projects
  • Upcoming grants program focused on Astar zkEVM dApp development

HAHA Coin’s efforts have been, and will continue to be, designed to raise awareness of Astar, drive user engagement, and increase on-chain transactions. By leveraging the appeal of a meme coin, we can attract a diverse audience and introduce them to the broader Astar ecosystem.

We firmly believe that our ongoing efforts demonstrate our commitment to providing tangible value and support to the Astar Network’s growth through the light-hearted medium of a meme coin project.

Thank you again for your input, and we look forward to addressing any further questions or concerns you may have.

Warm regards,

tora0515

6 Likes

I think memecoins are slowly becoming a form of marketing strategy. Abclavnahe and Coinabsa are focusing on creating some memecoins to attract more users. Unfortunately, most of them are rugs and not effective.

But I think Haha is an organic project native to Astar with OGs participating. It can be beneficial for our community if we play it well. We added some outside memes to our community, but they didn’t do well. We need something more native, which is why I approve of Haha dapp staking

5 Likes

Hello thank you for submitting this proposal.
I was just checking on Astar ZKEVM explorer and confirmed that HAHA token has 1284 Holders and 8872 token transfers at the time I’m writing this.

Regard memecoin I think:
Memecoin can be very impactful attracting retail investors to Astar.
If you look at the Binance top 10 coins with the most volume, 6 of them are memecoins.

This shows that retail is mostly interested in memecoins right now.

Reasons :point_down:

*Memecoins give everyone an equal chance of participation.
*Memecoins are fun, and nowadays exchanges are also listing them very frequently.

In my opinion, retail is going to max bid memecoins this cycle to such an extent that it has never happened before.

Memecoins, have been part of this crypto space since 2014, but they have gained the most popularity in the past year.

Right now, memecoins have a market cap of $55B which seems high, but it could rise way more in the current cycle.

Now, let’s add more reasons why memecoins will be the top preference for retailers.

➊ New crypto projects maybe could be doomed(from a retail investor perspective).

➜ In the past few months, almost every crypto project has launched at a very high FDV.

➜ On the other hand, most memecoins have a completely fair launch, and they launch with a MCap of < $100K

➜ For example, KOKO had a completely fair launch, and its initial market cap was < $50K.
➋ Low fees and fast transactions

➜ In the last bull run, when memecoin mania began, it became almost impossible for retail to buy those memecoins because of the very high gas fees on ETH.

➜ But this time, Astar zkEVM has completely eliminated that problem.

➜ Retailers can spend < $0.1 for their transactions, and that too will happen within seconds.

➌ Backing from mainstream celebrities

➜ Even though most memecoins don’t have VC backing, they do have some mainstream celebrities backing them.

➜ People like Elon Musk, Mr. Beast, and Mark Cuban have all shown their support for memecoins, which has helped memecoins become mainstream.
➜ This cycle, I think there’ll be even more mainstream celebrities talking about memecoins, which will make this sector go parabolic.

➍ Immense potential

➜ There’s no limit to the upside potential of a memecoin project.

➜ In 2021, SHIB launched at almost $10K MarketCap and peaked at $40B market cap in a year.

➜ The same is true for PEPE, WIF, BONK, KOKO, and many other memecoins that have given 1000x-100000x returns.

Finally I would like to congratulate HAHA team for:
-Reaching +2000 members on their telegram in an organic way and constantly spread awareness about Astar zkEVM.

  • For attracting new users to Astar zkEVM since HAHA token launch, inducing thousands of txs on QuickSwap, and Promote the increasing of Bridges txs of astr coin from astar evm to astar ZkEVM.
  • For having reached a market cap of 3M on HAHA token (ATH) and more than 300k lp TVL organic on QuickSwap (ATH).

Looking forward to see The HAHA Blue NFT collection launch with the collaboration of your partner Rarible.

Keep Building!

5 Likes

Thank you for sharing your thoughts!

We understand the concerns around the prevalence of rug pulls in the meme space. It’s a sentiment our team deeply resonates with, which is why we were adamant about ensuring HAHA Coin’s integrity as the first meme coin on the Astar Network.

One of the main points of commonality across our team is our commitment to the Astar ecosystem’s integrity and growth. Many of us are Astar OGs with extensive experience and involvement in various Astar projects. Our team includes founders of projects like Astar Degens, Bluez, TAB (and contributors), Astar Ambassadors, community leaders that sit on Astar project DAO teams, and a member that helps run the Astar Peers Program. Our team is deeply embedded within the Astar community and wants to see it grow and succeed.

We share your belief in the importance of native projects within the Astar ecosystem. HAHA Coin isn’t like a lot of the other tokens: Raising capital through private investors or raiding the ecosystem’s treasury. It’s an organic project born from within the Astar community, with a team dedicated to its success and the success of the Astar Network as a whole.

Your support for HAHA Coin’s dApp staking program means a lot to us. Thank you.
Warm regards,

tora0515

2 Likes

Thank you for your insightful feedback and recognition of HAHA Coin’s achievements.

We prioritize genuine community interactions and emphasize the importance of fostering the Astar ecosystem. Your observations regarding the increasing interest in meme coins resonates with our team’s perspective. We believe meme coins play a vital role in introducing individuals to a blockchain in a fun and approachable manner. One of our aims is to ensure that HAHA Coin serves as a safe and reputable entry point for newcomers to the Astar Network from which they can branch out into the rest of the ecosystem.

I’m personally thrilled to see you mention the HAHA Blue NFT collection, as it’s been a project I’ve been deeply involved in. It’s been a joy engaging with the community to shape the collection from mint size to trait rarity selection. Stay tuned to our social channels for an upcoming announcement regarding HAHA Blue.

Thank you once again for your valuable feedback and support.

Warm regards,
tora0515

3 Likes

I think HAHA coin contributes to the ASTAR ecosystem.
I also believe that this is a project that we can look forward to in the future.
I agree with participating in dapps staking as a meme coin that is not just a meme coin but a powerful marketing tool.

6 Likes

Thank you for your support and positive feedback!

Your endorsement of our application means a lot to us. We remain committed to contributing to the Astar ecosystem and are excited about the future of HAHA Coin and its role within the Astar.

Warm regards,

tora0515

4 Likes

Very insightful inputs

5 Likes

Thanks for the proposal!

To be honest, my thoughts on meme coins are mixed. While I recognize their existence as important content, ecosystem drive engine, and culture, it is also true that they can be a scam and the volatility of the token price can be problematic.

However, this is not the case with HAHA, but rather the overall trend.

HAHA itself is an active community and recently announced a collaboration with WALKMON. It is energetic.

The target of dApp Staking itself does not necessarily have to be an application. There are tools, infrastructure, NFT communities, etc. Personally, I don’t see a big difference between the NFT community and the meme coin community as long as they are working properly.

In that sense, I don’t see a problem with HAHA listings. It is ultimately up to Staker to decide whether to support it or not.

One concern, however, is how the listing of meme coins on dApp Staking will be received by people outside the community.

4 Likes

Glad to see this proposal :clap:
As already expressed by others here on the forum, I don’t believe that meme coins are innovation or that they serve anything other than speculation. Nonetheless, I follow the telegeram group and seeing all this activity can only do good for Astar.
At the launch of the zk network I was positively impressed by the effort of the various OGs and participants in helping newcomers by explaining the use of the wallet or even creating guides/tutorials. Also the continuous developments (the game, the various collaborations and the collection HAHA Blue ) demonstrate that the intention is to build on Astar.
In my opinion, the HAHA Team is doing more than well to ride the meme trend and deserves a slot in dApp staking.
It will be interesting to read the comments and opinions of others.

I want to specify that I am a holder of HAHA tokens and every now and then I exchange Astar rewards for HAHA, so in the case of voting I will abstain.

Wish You good luck :grin: @tora0515 @Sequaja

5 Likes

Thank you for the detailed proposal Tora. Here are my thoughts, which I shared during the March Astar Ecosystem Agents meeting:

To ensure the quality and relevance of MEMEs within our ecosystem, we need to establish clear criteria. These should include:

  1. Support for the Astar Ecosystem: How well do they integrate and promote Astar?
  2. Transaction Volume: Are they actively generating transactions?
  3. User Engagement: Are they effectively driving users to engage with our products and join the community as active members?

Currently, HAHA meets these criteria, but we should reassess this periodically, perhaps quarterly.

This approach should also apply to NFT collections involved in dApp staking. Many collections launch and then stagnate. They need to continue developing and contributing to the ecosystem beyond their initial launch.

Just my two cents. Thank you!

4 Likes

This makes sense…

Incentives linked to the value each DAPP brings to the ecosystem

3 Likes

Thank you for your feedback.

We appreciate your recognition of the unique role HAHA coin plays in the ecosystem, despite the general concerns around meme coins being high volatility scams.

We understand the concerns about how the listing of meme coins on dApp Staking might be perceived by outsiders. Being the first meme coin on Astar has come with its challenges, especially the uphill battle around the perception of meme coins on the whole vs what HAHA has and is achieving.

On this, we would stress the importance of each application being considered based on their merits rather than their project’s crypto category. The dApp Staking program already supports a diverse range of projects, including lottery, high-risk defi, and projects not focusing most of their efforts on Astar. However, this variety enriches the Astar community and drives innovation from different angles. It would be a shame if future projects were limited simply by their categorization rather than what they have and continue to contribute to the ecosystem.

We hope that HAHA Coin’s strong commitment and involvement in the Astar ecosystem as outlined above shows that we would make a valuable addition to the program.

Warm regards,

tora0515

5 Likes

Thank you for your support and kind words!

We’re glad you’ve found value in our project and appreciate your engagement in our Telegram group. It’s encouraging to hear that our efforts in guiding newcomers, creating tutorials, and continuously developing new initiatives have made a positive impression.

While we’re saddened to hear that you’ll be abstaining from voting despite recognizing the value we bring to the Astar ecosystem, we understand and respect your decision.

Thank you again for your thoughtful feedback and best wishes.

Warm regards,

tora0515

4 Likes

Glad to see this in a comment, thank you.

We agree with much of what you’ve outlined regarding the need for clear criteria to assess projects within the ecosystem. However, we believe this shouldn’t be limited to just meme tokens. As mentioned in an earlier comment reply: projects should be judged based on their merit, not their category.

Ensuring ongoing development and contribution to the ecosystem is essential for maintaining a vibrant and dynamic community. We hope our application sufficiently demonstrates HAHA Coin’s active participation in Astar zkEVM as a value-add to the the Astar Ecosystem.

Additionally, projects are likely to be self-regulated every voting period as users move tokens away from poorly run projects and those that fail to build, naturally promoting higher quality and more active participants. I believe this has recently been fore-front on the Astar Forums as community members raised concerns around specific projects.

Again, appreciate your input and support, thank you.

Warm regards,

tora0515

3 Likes

I learned from TG that the dApp staking application had been submitted, and I am very pleased to hear it. I have been paying attention to HAHA since its launch because members involved with Astar Degens were part of the development team.

I appreciate the word “unyielding” associated with AD. Therefore, I support HAHA simply because it includes AD members.

HAHA is sure to become an important project for Astar. I will support AD and HAHA as much as I can. I agree with dApp staking.

Thank you.

6 Likes

We believe that this proposal should be taken into consideration. The team works and develops a lot. Meme coin or not, the project brings value to the ecosystem. I believe there are too many people starting to show the critical nature in every aspect of dapp staking support. If a memecoin project is speculative, what is a lottery? if a memecoin project is speculative why shouldn’t it be considered speculative to buy nfts for a web3 game you may or may not like? Honestly, we are shocked by some principles that are expressed in a totally personal way, without taking into account everything that actually happens in the ecosystem.
There are highly supported teams that have a history of lack of development and in some cases confirmed scams and no one bothers to check, now the problem should be to list HAHAcoin as a dapp on dapp staking, despite them being ultra active? Pretty absurd.

7 Likes

I strongly support the HAHA Coin team’s application to participate in the Astar Network dApp staking program.

HAHA Coin is an innovative meme coin that has been actively working to drive awareness and adoption in the Astar ecosystem.
HAHA Coin has been an active contributor to the Astar community since pre-launch and has played a key role in raising awareness of Astar zkEVM and growing its user base.

The benefits that HAHA Coin provides to the Astar ecosystem include

Increased participation in dApp staking on Astar zkEVM
Increased liquidity in the Astar ecosystem DEX
Increase engagement and growth of the Astar community
Encourage dApp development on the Astar zkEVM
The HAHA Coin team is a valued member of the Astar ecosystem and we believe that HAHA Coin will be a valuable asset to the Astar Network dApp staking program.

We strongly encourage you to approve the HAHA Coin team’s application and contribute to the growth and development of the Astar ecosystem.

6 Likes