Recapitulation of VALHALLA PROJECT AMA event held at AMA LOVERS CLUB.
Date: Saturday, 20th February, 2021
Time: 16:00 UTC
The VALHALLA PROJECT team was represented by @Crypt0Candie who judiciously shared with us detailed knowledge and information about VALHALLA PROJECT.
1st Segment: INTRODUCTION
Q1 Can you introduce the VALHALLA project, what critical problems does it solve that existing solutions are not solving and what's the competitve advantage?
ANS: Valhalla is a safe launch incubator for ERC-20 tokens with innovative liquidity incentives.
With the recent surge in the markets we have seen the emergence of meme tokens like rebase tokens pegged to GME/AME stocks prices, different doge clones including but not limited to cat coin, bulldog, pug, neko and nyancat.
Surprisingly they were in high demand and were bought up like crazy driving the prices sky high.
Unsurprisingly however, most of them just raised the eth in a bounce presale and deleted their tg accounts (some of them didn't even have a website), a few locked only part of the liquidity in unicrypt and rugged the rest and the remaining dumped their unvested "team tokens".
This shows that there is demand for meme tokens, but not a safe medium to enable people to speculate on them.
"that existing solutions are not solving" --> We sure have bounce, and unicrypt and teamlock; but we are still left at the mercy of the developers to use those services.
Valhalla unites those tools into one trustless launchpad platform where people will know exactly what is being done with their funds at the time they participate in the sale.
Valhalla is like a pick axe in the time of this gold rush. You can dig every coin, but not all of them will be gold. But to dig you'll need the pick axe.
"what's the competitve advantage" --> Our competitive edge lies in the synergy between the 3 elements of the ValhallaDAO ecosystem - Valhalla, LSD and Oasis.
Valhalla is like the other incubators that search for innovative projects in this space and provide exclusive sales to their community of token holders.
LSD is a rebase token pegged to the price of VAL and is the native token of the Oasis ecosystem.
Most rebase tokens die out within days of their initial launch due to the lack of an utility.
We can take a very useful insight from the RFI project here. RFI project didn't succeed because of their fee distribution structure. It succeeded because of their exclusive pair listing business model.
Now imagine the supply inflation and price benefits when listing with a rebase coin instead of just a 1% on transactions coin.
Oasis will be a bounce, where users can participate in fixed swap auctions just like on bounce. However in Oasis, the native currency for fund raises will be LSD. Anyone applying for a fundraise on Oasis had to fill out the parameters of the % of team tokens, vesting period, % of funds raised for immediate expenses of the team, % locked in liquidity, duration of liquidity lock. So when an investor participates in an auction, they know exactly where their money is going.
The synergy between these platforms allows the rebase coin to grow in value, while also create a profit generating platform without having to charge their users for individual transactions on the platform.
Valhalla is later looking into multiple-chain releases due to the lack of such a composite suite of tools on all of them.
And not just for meme tokens but innovative projects looking to secure liquidity boost by listing with LSD.
Well that was a pretty long introduction.
Now, moving on the next questions.
Q2 Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Our current milestones include having secured 2.6 million USD in liquidity after doing a stealth and fair launch.
That an remarkable feat we take pride in boasting about.
Our immediate future plans include our first IDO on March 1st, and the second one on 14th March.
We are delighted to have teams reaching out to us for doing their IDOs on our incubator at such an infant stage.
Q3 Can you briefly describe your Tokenomics, Release Schedule, Vesting Schedule and Utility?
ANS: Currently Valhalla (VAL) is the only token available in the ecosystem.
VAL is supposed to have a max supply of 8888.
The Farmhalla contract for farming VAL is an innovative one where you borrow tokens from the contract for farming to maximize the % of eth in your assigned lp.
Due to the excessive demand, more than 10k tokens have been minted and are circulating.
All of them will however be burnt as farmers withdraw liquidity and only the 8888 rewarded tokens remain.
The farmhalla farming starts at 4444 tokens for the first 8 days, and halves every 8 days.
The team doesn't own any tokens as the project was launched in a fair manner.
Q4 Sequel to the Ever increasing Inefficiency of the ETH blockchain over, do you think have plans for a bridge or migration to Binance Smart Chain?
ANS: We already have plans of deploying a multi-chain platform across all popular evm compatible chains, including but not limited to bsc and heco. We are also working with a different team on a side-project on advanced bridging solutions across chains. Once ready, we'll migrate Val to that platform. But, cross-chain swaps are hard. So, we don't have a tentative date of launch on that one. The multi-chain deployments will however be initiated irrespective of the availability of the bridging solution.
Q5 Airdrops are happening frequently in the DeFi Space, do you have plans for such for community members and would you mind sharing the requirements?
ANS: There is a giveaway competition for Val currently going on exclusively for 5 lucky farmers.
To join the giveaway the users have to deposit a minimum of 0.5eth in farmhalla and follow us on all our social media platforms.
There are no plans for any further airdrops right now, but we are working out plans to operate a meme of the week giveaway contest for VAL.
There might be LSD airdrop provision for VAL farmers, the details of which will be announced at a later date.
Q6 For the investors amongst us, how best do we invest in Valhalla?
ANS: Currently the best way to invest in Valhalla is to farm VAL by using our extremely simple one-click-farm feature on farmhalla.valdao.org
Even though we have gone through the first halving, the emission rates are still very high to continue farming.
Also, by farming the farmers support the team by contributing 10% of their funds for the development and marketing expenses of Valhalla.
The farmhalla contract has been optimized to minimize gas usage as much as possible.
Yet, the crazy high gas prices right now, might be a barrier for some investors. They can just market buy VAL from uniswap.
There will be separate tiers for farmers and holders for allocation into the IDOs.
One other achievement I almost missed out was that despite the crazy high emission rates in the early days of farming, there wasn't much sell-off and the price action has remained really strong. Also, despite the 8 day staking lock ending for a lot of the early farmers, surprising only 1 of them withdrew their funds the last I checked. This shows the Valhalla community is one of the most loyal and supportive communities who believe in the future of the project. We equally love back our investors for their immense faith in our work.
2nd Segment: LIVE Questions
Q1: I have never heard about anything like VALHALLA DAO, can you tell me what the name means, where you coined it from and what it has to do with the purpose of your project?
ANS: Valhalla is the Norse word for the place valiant warriors go to after their death in war. It is guarded by the Valkyrie and is the grandest destiny of any living human being. We used that name to add to the meme of "To the moon" and "Dine in Valhalla" as a symbol of delivering our community into safe passage to successful speculation.
Q2: This is your first AMA So congrats for that.
My question is Please tell us more about your partners and What are the benefits from your recent partnership with $TROP ? Can We see big partnership in near future?
ANS: Thank you.
Since, Valhalla deals with memes in crypto, we partnered up with an NFT project so that VAL holders are airdropped trendy NFTs from time to time.
As of big partnerships, we have quite a few of them already up our sleeves. But we are not as discretion to disclose that.
Q3: The governance token of Valhalla token is VAL and the currency token of the platform LSD is pegged to VAL. How are you planning to increase VAL value and which one should the investors buy first for generate incomes in the short term?
ANS: VAL is deflationary.
VAL is required to participate in IDOs.
VAL will be used to raise the funds for LSD.
So, until LSD comes around, VAL is the one you need.
The deflationary tokenomics and holding incentives alone boost the price of VAL.
Q4: What solutions is Valhalla proposing to beat up inflationary problems in DeFi like high fees and impermanent loss? How are you going to make feel your buyers safe and respalded?
ANS: Excellent and on-point.
Val token doesn't include any transaction fees, so no additional gas charges when transacting or buying on uniswap, as well as no high slippage requirement.
The farmhalla contract has been optimized to utilize the bare minimum gas and to prevent impermanent loss, the tokens are borrowed from the contract. That way it is the equivalent to single asset staking and you are exposed only to the price of VAL. If price of VAL increases from your farming start price, your eth stake increases as well. I call this inverse impermanent loss.
And as of making the buyers feeling safe and respalded, the fair and stealth launch should be a testament enough.
Q5: The DeFi Blockchain projects today are mostly built around Farming and Staking with hype. Once the hype is gone, its value and attractiveness diminishes over time. So what will Farmhalla do to maintain and steadily develop its farm? How will you make users suffer the lowest cost of Gas on Ethereum?
ANS: Thoughtful questions but I have already covered all of that in my explanations before.
Q6: With a methodical marketing plan, what will your plan to expand cooperation relationship look like in the coming time? How will $LSD (LiquidsenditDollar) be used in the operation of Oasis Launchpad, how will you ensure your reputation as well as necessary information related to the project after raising capital via Oasis Launchpad?
ANS: Really insightful.
LSD will be the token used for participating in the fund raises on Oasis. And the only necessary information will be the contract parameters. When dealing with anonymous projects, we can never verify what we are dealing with. So instead of trying to establish trust, we try to mitigate risk to the maximum possibility in case of a malevolent party.
They get away with a fraction of the raise, while a larger portion of the investor funds are still safe.
Q7: when a creator wants to start a project, what kind Of documentation will they need to provide? Will it really be possible to crowdfund from any country when the platform goes live? Or will there still be some restrictions?
ANS: Completely trustless.
Anybody can create a sale on oasis, just like bounce, and anybody from all over the world can participate in it.
No kyc requirements whatsoever.
As of the legal concerns in countries forbidding ICOs, the Oasis narrative can as well be rephrased as DeFi instead of an ICO.
Q8: how big is the $VAL-team and what is your team-growth-plan?
ANS: The Val team initially consisted of just 2 guys. I was the dev and had a friend pitch in for social media, community and marketing. We however had among us numerous cryptocurrency and technology enthusiasts as advisors and supporters many of whom are non-anon and really active in the community. They have worked in multiple industries and have been in the space for long enough to understand what works and what is needed.
Now, coming to team-growth plan, we have subscribed to the services of Brian from Quotidian Marketing, who is responsible for maintaining our relationships with multiple big crypto twitter influencers.
The team has hired 2 broad experienced devs comprising a full-stack duo for working on Valhalla and improving the already existing portions of the platform.
I am personally partnering with a team of 8 devs from NErdDAO, working on one of the most innovative projects of 2021, to later migrate VAL to.
Though initially reserved about our background, it was time to give you guys an insight into our team and progress.
Q9: Would there be tokens buyback and token burn for your token.
What makes your token spectacular to invest in and the problems it would solve?
There are 3 core issues prevalent in crypto and blockchain:
Security, Interoperability, and Scalability. so
How does Your Project plan to overcome these issues?
ANS: There will be no buyback and burn. The token supply is already too small to reach an overvaluation.
As of the problems solved, you can read the details I mentioned above.
Valhalla is particularly dealing with the issue of Security. We are partnering to build a project to solve interoperability. And there might be a project later incubated in Valhalla itself to solve the scalability.
You really hit the bar there. Covered all the necessary points we were working on.
Q10: Total supply of the token is 8888. The rewards halve every 8 days, with the initial $ETH stake locked for 8 days to assist liquidity stability. What's up with the 8 figure? Is it intentional or coincidental?
ANS: Intentional. Partly inspired from 88MPH and WHITE. And partly because one of our friends is obsessed with 888.
Well, those were some really really thoughtful and diverse questions I've ever attended in an AMA before.
It was a pleasure catering to all your queries.
You guys have been an awesome community and I would love to do an AMA upon the launch of our future projects in AMA LOVERS CLUB again. Join the Valhalla community and help us build some of the best products in this space.
Follow Us On Our Various Social Media Communities For More Update;
🪓 Ecosystem home: valdao.org
🪓 1-click $ETH farming for $VAL: farmhalla.valdao.org
🪓 Buy Valhalla $VAL at: https://app.uniswap.org/#/swap?inputCurrency=ETH&outputCurrency=0xddd2ec6bd01506a8510aba02393fb058d9f6ce89
🪓 Dextools price action:
🪓 Medium: guidehalla.medium.com
🪓 Twitter: twitter.com/ValhallaDAO
🪓 Telegram: https://t.me/chillhalla
🪓 UniSwap pair info:
🪓 Etherscan info: https://etherscan.io/address/0xddd2ec6bd01506a8510aba02393fb058d9f6ce89
SEE YOU IN VALHALLA
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