DOKI x InfinityGainz AMA Recap
- InfinityGainz Telegram: https://t.me/InfinityGainzz
- InfinityGainz Twitter: https://twitter.com/CryptoExpert101
October 28, 2020 2:00 AM UTC time
Crypto94 (InfinityGainz Leader): Chat is Muted. DOKI AMA is Live
Rei (Doki Doki Co-founder): Hi everyone ~ I’m Rei, co-founder of Doki Doki Finance. It’s good to be here today.
Q1: Give us a brief description of what DOKI is for those that aren’t aware of it and what makes it unique? A lot of people aren’t aware of what DOKI is.
Rei: Of course, happy to do so.
Doki Doki Finance is a DeFi Ecosystem project with original code and visuals inspired by Retro Japanese Aesthetics. Our mission is simple — to build innovative yet stylish DeFi products which offer strong value propositions for both users and holders of our native token, $DOKI.
What makes Doki Doki Finance unique? I am glad you asked this because I think it is a tough question for many new DeFi projects out there today. For clarity, allow me to explain using bullet points:
- Our token, pre-sale, and pool contracts were all developed ground up
- Our website, UI, NFTs and visuals are 100% original and unique
- Team tokens are linearly vested for 6 months, controlled by contract
- Unique tax feature, to fund future development if necessary (function is timelocked)
- We are building a full-service NFT platform and marketplace with innovative concepts and feature
And most importantly our team has been in the crypto space long enough to know what works and what doesn’t.
Crypto94: What is the Swap?
Rei: Swap is a placeholder for Doki Doki Swap, our swap project. There are many clickable elements on the website, representing the products we plan on building in the future. But our current focus and next product will be about NFTs. Each product will be designed to bring sustainable value to $DOKI token holders.
Q2: DOKI had an impressive run and did 20–30x but Like most farming coins, its price has dropped Considerably, which leads us to my 2nd question, and how AZUKI will reverse this…
Tell us about your new proiect called AZUKI and how it will be tied within the DOKI ecosystem? Why create AZUKI? What functions will it have?
Rei: Of course. But first, I would like to clarify that AZUKI is not a new project, and there is no pre-sale. The only way to earn AZUKI in the beginning, is to stake in $DOKI pool or $DOKI/ETH LP pools. Once you have farmed some AZUKI, you can also stake in $AZUKI and $AZUKI/ETH LP pools to earn more AZUKI.
AZUKI is a secondary token designed for use in our upcoming NFT DaPP, and eventually on our full-service NFT platform. AZUKI has slow-emissions, decreasing at a rate of just 6% every two weeks. AZUKI also has deflationary properties. There is an adjustable burn rate on transfer (default = 5%). AZUKI is also burned to obtain rare NFTs on our upcoming NFT Farming DaPP.
The concept of AZUKI was conceived based on the following notions:
- We don’t want to burn $DOKI, since it already has a low supply of 50k and is needed for governance of all products.
- We want to give people the option to choose which NFTs they want to redeem using AZUKI, rather than just airdropping to $DOKI stakers.
Crypto94: Do you have A DEMO of the NFT Platform or Screenshots?
Rei: Not yet, but we have started working on it. The concept is finalized. We don’t want to reveal all the secrets now, obviously.
Eventually, we want an incentive token to accelerate adoption on our NFT Platform and Marketplace. AZUKI will fulfill this role via what we call “Creativity and Consumption Mining”. I believe this is best explained using a practical example:
Let’s say, a consumer spends $100 on our platform in exchange for a NFT, assuming 5% fees:
- 10 AZUKI is minted
- NFT seller gets 4.75 AZUKI
- Consumer gets 4.75 AZUKI
- Dev fund gets 0.5 AZUKI
- Seller gets $95
- $5 is used to add liquidity to $DOKI on Uniswap
Basically people are paid in AZUKI to use our product and their active participation contributes to revenue on our platform, creating a positive feedback loop for accelerated growth.
Q3: How will AZUKI benefit DOKI and vice Versa? DOKI price has dropped considerably lately. Why so? High APY possibly? Many fear DOKI might lose relevance to AZUKI? Should we be concerned?
Rei: As explained in the answer to the previous question, $AZUKI plays an important role on our NFT DaPP and platform.
But $DOKI and $DOKI/ETH LP is needed to farm $AZUKI. So actually we expect AZUKI to boost the liquidity and utility of $DOKI.
Crypto94: 🔥🔥 Bullish I tried to tell my members this, as well. DOKI Demand will increase. You NEED DOKI to Farm AZUKI.
Rei: Correct. And AZUKI is the only way to obtain our NFTs.
Rei: Basically, AZUKI complements our native ecosystem token, $DOKI, establishing a dual token model designed for large-scale NFT adoption.
As for the recent price drop in $DOKI, I think it’s very typical for new DeFi projects these days.
The main reason for price drop is that people simply took profits. In the first few days of staking, APY in our $DOKI and $DOKI/ETH LP pools ranged from 20,000% to over 30,000%.
Furthermore, the price of $DOKI also shot up to over $700. To put things in perspective, the presale price of $DOKI was only $70. Depending on your entry and farming strategy, people made up to 30x profits.
Another reason for price drop is this: Our popularity attracted some malicious actors. Our staking page was subject to DDoS attacks from multiple extortionists, especially during sleeping hours here in Tokyo.
Once we figured out what was happening, we immediately released a guide on how to interact with our contracts directly. Our Devs also responded quickly by upgrading our server architecture & migrating to a more secure host.
While security upgrades are ultimately good for the long-run, it’s undeniable that some damage was done by the attacks.
Crypto94: The price drop did not seem organic so I always wondered how it could have dropped so much. Thanks for Clarifying it.
Rei: Yeah, I’d imagine new-comers who bought DOKI, and couldn’t access our staking page would automatically assume we rugged or something lol
Staking Page: https://dokidoki.finance/stake/pool/1
With regards to high APY, I want to mention that $DOKI is not deflationary, but we have halvening every two weeks kind of like Bitcoin and a max supply of 50k. We just had our first halvening 2 days ago, which means that inflation has been cut by 50%.
Crypto94: Price naturally pumped also I noticed during the Halving
Will it continue to be every two weeks? Is this in code?
Rei: Yes, our pool contracts are designed to cut inflation by 50% every two weeks. Until a total of 50k $DOKI has been distributed. Here’s a visual:
So despite the recent price correction, we believe that fundamentals are actually getting stronger. We’re still here, with a clear vision and business plan, working and building the future of Doki Doki Finance.
Crypto94: DOKI chart. Cannot get cheaper than this in Theory. With increasing Demand for DOKi from The Introduction of AZUKI, Bottom Chart, Token Metrics that Naturally will pump it, 1 million Liquidity
I mean, I gave people here a Lottery Ticket
We will move to the next question
Q4: What can we expect to see in terms of development in the DOKI/AZUKI Ecosystem? As investors, why invest in AZUKI? You mentioned NFTs. But so many projects are doing this, anything unique to your ecosystem?
Rei: Okay first I will start with the Tokenomics of AZUKI.
$AZUKI will have a total supply of 80,000,000, and a distribution period of roughly 2~3 years. Rewards are still tilted in favor of early stakers in the pools, with 75% of the total Pool supply distributed within the first year. $DOKI holders are entitled to approximately 50% of the supply via farming and platform reserve. The remaining 50% will be distributed via Creativity and Consumption Mining, as explained above in a previous answer.
The remaining 50% will be distributed via Creativity and Consumption Mining, as explained above in a previous answer.
Here are some visuals, to help everyone understand:
What can we expect to see in terms of development in the DOKI/AZUKI Ecosystem? As investors, why invest in AZUKI?
I will now answer this question
First, I have to start with a disclaimer: Crypto assets are inherently high risk and no project can guarantee profits. (If they do, it’s a huge red flag!).
However, the NFT markets are primed for growth, and it’s also in our best interest to build a thriving NFT ecosystem around DOKI/AZUKI.
$AZUKI is the only way to obtain our original and limited edition NFTs, which should appreciate in value along with the growth of our ecosystem.
Furthermore, $DOKI and $AZUKI are both used for governance, which has value in itself, as we have seen with YFI.
Both our NFT DaPP and NFT Platform/Marketplace will have strong product differentiation.
Q5: You had an Amazing Marketing Plan for DOKI which did 30x for presale. Will we be seeing the same for AZUKI when it launches November 6th? Hype drives crypto, will you assemble the “Old Crew” again for the Launch?
Rei: Yes. Our strategy is to align marketing efforts with new product launches. And we have good long term relationships with some of our marketing partners.
Crypto94: 🔥🔥🔥 Token Metrics are insanely good. I analyzed them in detail. We could realistically see DOKI at Parabolic 100x Levels
Rei: We are really excited for the launch of AZUKI too
Crypto94: Launch is Novermber 6th correct? From now until then, what can we expect from the DOKI/AZUKI Team?
Rei: Yes, before our NFT-00 promo ends. And before the second halvening. UI previews. NFT-previews. More AMAs and marketing. Pool and Token contract deployed in advance so everyone can review, etc etc.
Q6: Could you explain more about your NFT, section mainly the Japanese Art NFT’s and is it possible to show us what you have been working on?
Rei: Perfect question haha. It just so happens that we have prepared a surprise for everyone here in InfinityGainz.
Here’s an exclusive first preview of our Doki Doki original NFT-002 AZUKI! She will be available in three different rarities, and the final version will feature animations.
She is waiting patiently for you to feed her delicious $AZUKI beans XD.
Our designer is working on a DOKI DOKI original NFT series, inspired by retro 80s and 90s anime. There will be six different rarities.
Ethereal Rare [ ER ] ★★★★★★ = Limited to 100 copies
Mystic Rare [MR] ★★★★★ = Limited to 250 copies
Ultra Rare [UR] ★★★★ = Limited to 500 copies
Super Rare [SR] ★★★ = Limited to 1000 copies
Rare [R] ★★ = Limited to 5000 copies
Common [C] ★ = 10,000 + copies ?
Crypto94: Great. I think that concludes the AMA.
Thanks for joining us REI.
Rei: Thanks for having me! Cheers everyone
Crypto94: 🚀🚀🚀🚀 I salute you and keep the system going. Already DOKI clones pomped up. Imitation is the best form of flattery, Reminds me of CORE clones
Rei: Yes, even our pre-sale code has been copied already. We don’t mind but our dev feels that some credit should be given, at least haha
Crypto94: They have big time influencers behind them also, as Azuki launch date approaches, expect massive marketing….