Thank you for your support and thoughtful comments on our application. We truly appreciate your recognition of our efforts to create value beyond meme coin hype and contribute positively to the Astar ecosystem.
Regarding your question about the allocation of dApp staking rewards, we understand the need for clarity and reassurance. Here is a more detailed explanation while maintaining the flexibility necessary for effective project management:
dApp Staking Reward Usage Breakdown:
Liquidity Provisioning:
Purpose: Enhance price stability and liquidity for HAHA Coin while increasing Astar zkEVM transactions benefiting both the token and the ecosystem.
Actions: Creating and burning LP, which involve claiming Astar, bridging Astar, buying HAHA, and pairing ASTR/HAHA. The LP tokens will be burned to lock ASTR within the liquidity pool with no owner leading to all ASTR (and HAHA) rewards being locked in a burn address, removing these from circulation.
Marketing Initiatives:
Purpose: Promote HAHA Coin and the Astar ecosystem to attract more users and increase transactions on Astar zkEVM.
Actions: Conducting buy-backs and burn events (same transactions as LP creation less the LP creation and burn), user acquisition campaigns (partnership and Airlyft campaign fees/expenses), and providing gasless claims for campaign participants (Rewards used directly as transaction fees plus the transaction to convert ASTR to ETH on zkEVM).
Ongoing Project Development and Maintenance:
Purpose: Ensure the continuous development and upkeep of HAHA Coin’s infrastructure and community engagement activities.
Actions: Covering costs related to project and community development, and other operational expenses. Transactions of this nature have mostly been on-chain to date requiring either HAHA or ASTR payments.
We deliberately refrain from specifying exact percentages or frequencies for these allocations. The reason is to retain the flexibility needed to adapt to the project’s evolving needs as well as the uncertainty of the reward flows which depend on staking tier achieved and any future change to the dApp staking program.
There may be instances where more LP creation than expected is the solution, while other times it may be more advantageous to the community to increase gasless claims for some events. Equally, higher reward tiers allow for more frequent and impactful actions, whereas lower tiers might require a longer accumulation period before significant deployment. And there is always the risk of future adjustments to the staking program which affect reward distributions.
Our primary goal remains to use the staking rewards in ways that maximize transaction activity on the Astar zkEVM network while also strengthening the project, thereby benefiting the entire ecosystem.
Thank you once again for your support and encouragement. We are committed to building a strong, engaging, and valuable project for the Astar community.
Warm regards,
tora0515