4 Days in…. forever to go.

Liquidity Locked, AMA re-cap.

Liquidity Locked

After a lot of speculations, we have locked for our liquidity for one year. The reason why we didn’t lock it for another year was to ensure that we had the correct code in tact. We are very confident that this is the final version of our first experimental project — HOLE/WHOLE.

AMA with MSH | MoonshotCrypto | Recap Transcript

Question 1 — Can you start by telling us about $WHOLE, a high level overview?

Answer: Pepe and I met a month ago — tired of rugs, wanting to build some rep for ourselves within the defi space while also trying out some really experimental plays. We created a telegram group called “degen_plays” looking to do that. A community where others can be confident that there will be no rugs and might find a really good gem. Both Pepe were surprised when our first experimentation got the love and backing of the community it did. Most of the history can be found in our first medium story if you wish to learn more. $WHOLE is built ground up, no forks or clones and has been built by a strong community. As long as the community exists, $WHOLE will exist.

$Whole |Wormhole is the first “trade to farm” DeFi token on the Ethereum blockchain.

Every transaction has a 6% fee.

• 1% is to burn
• 1% is to dev fees
• 4% is allocated to the farming slot
• Minimum of 10 WHOLE is required to be part of the farming slot (for now)

What is Farming Slot?

• Anytime you make a transaction > minimum amount (currently 10 WHOLE) — you will get farm/airdrop from next 5 transactions that other members of the network do!

Question 2 —The ecosystem was flawed for the first 2 releases; the fact your still here today shows resilience and hard work, but what measures have you put in to make sure v3 does not suffer the same fate?

Answer: Mr. Pepe: So to cover this I think let me go through the issues we saw in version 1 and version 2. Version 1 of our product was a complete experiment that worked fine on ropsten but on main net as there were many more involved we noticed 3 major issues such as the transfer event not being the primary event which showed transactions coming in and out of the dev fee wallet. This spooked investors and newcomers who thought it was the dev wallet only buying and selling. Another issue was that the airdrops were only happening for sellers and not for buyers. Version 2 of our product completely mitigated these issues. We fixed the code up and did significant testing as we noticed there was a lot of interest in our product. However with interest comes parties looking to exploit things for their benefit. With version 2 we had someone deploy a contract that would send minimal transactions to take up all the farming slots while other farmers got negligible rewards. There really wasn’t a way to stop this without redeploying the contract but our Liquidity was locked up so we couldn’t do a snapshot extract liquidity and swap. So when we finally launched V3 we learned from all of our mistakes, the bugs were all removed and measures were put in place to stop bots. There are 3 main measures added to stop bots, one is that the transactions must always come from the liquidity source, two the transactions have to meet a minimum and three we can blacklist bots from being part of farming slots. Also in this case we locked liquidity for 2 days that way we could easily do a snapshot, replace liquidity and restart. But after seeing that there were no issues me and Degen decided that it would be best to lock up liquidity long term (1 year).

Question 3 — Each transaction has a fee that is split in 3 ways. Can you explain each split’s reasoning, size, and benefits to the ecosystem?

Answer (Pepe): Yeah sure. Lets start with the percentage. Every transaction that happens has a 6% fee. 1% is automatically burned, similar to other deflationary tokens. 1% of the fee is sent to the developer fee wallet. This is what we use for marketing and other aspects. and the remaining 4% is sent to farmers. the 4% is divided among 5 farmers — which are the 5 people that had a trade prior to your transaction. each farmer is weighted so if you buy you have a higher weight versus when you sell, who has a lower weight. This brings instant gratification as opposed to farming via liquidity and also no impermanent losses during price appreciation.

Question 4 — Each transaction has a fee that is split in 3 ways. Can you explain each split’s reasoning, size, and benefits to the ecosystem?

DegenDev: Audits are very important in this space as it is another set of new eyes on code and brings exploits to light. Audits are also expensive and should be used when appropriate. Given we have done 3 iterations and we haven’t added additional features to our ecosystem (yet), it doesn’t make sense for us to do an audit Right Now. But We have full intentions of getting that done as new features roll out due to an increase in complexity and an assurance is needed for compatibility! I am currently researching who are the audit players within DeFi and will begin the journey.

Question 5 — So this begs the question, do you have new features planned? What does the future of $WHOLE look like?

DegenDev: So It’s day #1 after our lock — So I think I deserve some slack for this one… but I did not come empty handed! There are some high level development ideas that I have in mind. What I can share is a weekly event that will happen within the ecosystem.

I’m calling this weekly event — The Event Horizon — this will start as a centralized vote within community member to increase or decrease the current minimum WHOLE required to be in the voting slots. Alongside the “Event Horizon” there will be also be a “Singularity Event”, longer in cadence ;( Still hashing it out… more will become visible later in the future)… Aside from that I am in my man cave working on a long term roadmap that will increase the overall features of the ecosystems. (LP tokens, NFTs are involved) more will be shared on the website as i roll out the roadmap. Outside of those 4 features — I have an idea that I haven’t seen done before yet within defi. This will require us to create a new token that will work as a second “wormhole” to make them compatible and bring long term value and sustainability for both. Again in my cave figuring out the details. I think this feature will be big and will require some experimentations before i port it over to the ecosystem… Pepe and I are having high level convos…. Right now my #1 priority is bringing more people into the ecosystem.. so all my time right now is allocated to expansion of the community and building a solid foundation for $WHOLE.

Question 6 — So this begs the question, do you have new features planned? What does the future of $WHOLE look like?

Degen: It’s only been 4 days since we’ve launched and I’ve quickly realized the importance of building the right foundation. We have a solid community; I couldn’t have asked for anything better to get me started. My marketing plan has three parallel stream…. to grow and sustain ourselves for a year…

1. Attack Strategy — New Geographical locations to build a larger community. I’ve received pictures of people saying they were able to make their monthly salary through our ecosystem airdrop — that inspires me to keep going. I have onboarded Viet and Japanese community managers who are at experts in their domain of bringing organic growth to projects. This is a YEARLY deal signed contract, paid monthly. I’m also in chat with Korea and China members as well. I’m very serious about being global and changing people’s lives as much as possible through $WHOLE. This will allow 24/7/365 ecosystem
2. Defense Strategy — Protect our current members by listening and providing marketing to grow the product itself through our marketing channels. I’m working out a long term deal with a known youtuber on this. This will also be enabled by the new feature that I’m looking to ship on Nov 30th (Event Horizons) to help increase this strategy
3. “Belonging” Strategy — Lastly, and this is a personally close one is “Belonging” — Community needs to feel they belong in an ecosystem, so I am thinking about how I can help enable that. One success story is a developer from the community, who is working on the website along with a designer. Both are looking to make a name for themselves. So I asked them to add their tg names on the site and giving them full control on the creativity side of the project. I help them with the content I want on there. We just released a multi-language support on the website, check it out the site if you haven’t. We have Meme-God sharing his artistic side, Emily doing Copywriting.

Question 7 — The $WHOLE community has been showing love to MSH for the past few days. A strong community is a cornerstone of any good project; how do you plan to (continue) rewarding the loyal community?

Degen: The best way to reward this community is through the token value AND giving them a reason to stay. I thought about some contest I want to do only in our telegram channel to help drive more engagement and give everyone in our community an opportunity to show themselves to the larger crypto community. Helping them build their own credibility in this space will also help build strong foundation for our project.

Question 8 —The premise of the coin is game theory, correct. You need to predict what the market will do, and then base your buys of it. This is because after your buy, you get airdrops based on future trades. What would be your top tip for someone to “win” the game?

Yeah a good example is right now, I’m sure many of you are watching it closely. Someone just had a huge sell of 20 ETH any of the 5 farmers that were farming before got a huge portion of that drop. Many of these guys consistently do small buys and sells to catch a big whale. And some people just got very lucky. There are many other strategies as well. One for example is if you are selling you should never sell all in 1 go, it should be small portions that way you get a lot of your fees back as you earn airdrops. Same goes for buying, it is smarter to buy in smaller chunks then all in one. This is a big factor that helps create more volume, more burn and more value for longer term holders. There are many more strategies and I’m sure many better than ones I’ve even heard of which I will leave for the community to discover.

And looking at that sell there is a huge advantage to farm right after big price swings as you will most likely farm a much larger amount of tokens in this period. Imagine you are a buyer and you buy a huge chunk at once you will pay 4% of your 6% fees to farmers before you, but if you managed to sneak into 2 or 3 of those spots before buying yourself you can get a lot of your fees back yourself too.

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