1Hive | Shenanigan | Metafactory Wearable NFTs. Long term collaboration between xDAI native projects

Hny Socks

Proposal Information

Proposal description:

About Shenanigan

Shenanigan is a DAO on xDai trying to build a new world for athletes that saves them from being sponsorship slaves. Using NFTs, personal tokens, and DeFi, SHE is creating personalized markets around athletes. You can learn more in this blog post.

Wearable NFTs

Shenanigan has been preparing to release SHWEATPANTS for the last month. We have forked Aavegotchis GHST staking contracts, changed them to work for shweatpants and built a frontend here http://she.energy/staking

To produce the shweatpants we are using the new Metafactory DAO. They have already agreed to take a mix of xDai and Particle as payment from Shenanigan. It works like this:

  • We mint 100 SHWEATPANT and buy 100 pairs from metafactory

  • PRTCLE and PRTCLE-XDAI LP tokens produce Shweat, a non tradeable point system. The first 100 stakers to reach 1,000,000 Shweat, earn their sweatpants

  • Shenanigan handles the distribution of these shweatpants ourselves

Hny Socks

Shenanigan is already setup to do this. In fact, we were about to role it out today! We can postpone and add some dope HNY socks into the mix, Instead of just sweatpants, we can have hny socks with honey incentives.

Also, instead of the prtcle-wxdai LP token, we can incentivize hny, particle, and hny-prtcle LP.

I could lead a channel in the 1hive Discord for designing socks and bootstrapping the necessary tech requirements.

Shenanigan doesn’t want to stop at sweatpants, we want all our swag to be distributed this way. After the initial shweatpant drop, we are going to fork Aavegotchi randomized raffle contracts to distribute the future wearable NFTs. This incentives keeping tokens staked while being whale resistant. We could further collaborate with 1hive and put out tshirts, wristbands, water bottles, etc

Proposal Rationale
A wise man once said
“If you want to go fast, go alone, if you want to go far, go together”

Farms were great, for everyone except 1hive. As xdai natives, we need to move together. Now there isn’t much overlap with our tech but we are a huge userbase. This would not only work well for bootstrapping long term LPs, but it would also show things are happening on xdai and it’s more than just a testnet. Nobody wants to miss out on wearable NFTs. Shenanigan and 1hive can bring more people to xdai if we work together. Wearable NFTs are something different. I think this would be a crazy (and popular) way to do it.

I think the value of collaboration is undervalued in the crypto space. TREE had its launch today and due to its integration with other projects, it saw amazing success. However, on the backside of things the TREE launch, PAN saw a large influx because TREE incentivized owning PAN. It was mutually beneficial.

Expected duration or delivery date (if applicable):
1 month

Team Information (For Funding Proposals)

Shenanigan team.

Skills and previous experience in related or similar work:
We have coders and MetaFactory agreed to do this already.

Funding Information (For Funding Proposals)

However much socks cost + 2HNY for dev fees

Ethereum address where funds shall be transferred:

More detailed description of how funds will be handled and used:
Buying socks
(Future proposal for shipping socks)

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Where will this take place? Metafactoy?

Agreed, is shenanigans interested in providing liquidity on honeyswap? What is shenanigans willing to offer for our participation?

not sure what you mean by providing liquidity exactly. We have our token PRTCLE on Honeyswap already. By incentivizing the HNY-PRTCLE pair, that would provide liquidity for both tokens.

I have the frontend on the Shenanigan website http://she.energy/staking , but you can easily build a second one that connects to the same contracts if it’s desired.

This proposal is saying Shenanigan setup everything and it’s ready to go. If 1hive wants to release wearable NFTs alongside ours, they are welcome. I will handle the contracts and the frontends. I’d just need the money for 100 HNY Socks and a design within the month. We can adjust the incentivized pools accordingly.

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Maybe I missed it, but how are you incentivizing the pair?

Stake HNY, PRTCLE, or HNY-PRTCLE LP -> earn Shweat -> redeem for wearables.

Between the two communities, PRTCLE hodlers will be buying HNY, and HNY Hodlers will be buying PRTCLE, since HNY-PRTCLE LP gives 100/1 returns

read the explanation in the current frontend http://she.energy/staking

I think that by incentivizing the HNY-PRTCLE pair, it will bring liquidity just to PRTCLE, given that the current liquidity is now around $5,456.
It might be an idea to create the NFTs and offer them to liquidity providers in order to promote your product.

It would be nice to see the calculation laid out. Meaning particle and hny are providing how in usd$ and shenanigans is minting x number at what usd$. Need to understand each parties contribution.

It will no doubt help PRTCLE. That’s a good thing for 1hive and helping PRTCLE is mutually beneficial for 1hive. Current liquidity is 5k, but we maxed out at nearly 15k. PRTCLE is airdropped over 400 unique accounts every week and many of those accounts I am sure sold their HNY. This would be a massive incentive to buy back HNY from our community. On top of that, This is a great PR move for 1hive, and it’s low bandwidth since I offered to handle all the logistics going forward. XDai is a small community 1Hive is the current leader. Helping other communities only means more trades going through honeyswap and more people coming to XDai and staying.

It may not be the largest “power” move for 1hive, but this would establish good relations between the two communities and be a huge draw for people to come back to HNY. Very small commitment for a strong PR move.

Shenanigan mints 20000 PRTCLE a week, at current prices thats a bit under $2000. However, no HNY is being given out here. It will cost ~$2000 to make HNY Socks. That plus fees for shipping (which I’ll be paying out of pocket) is the required HNY.

The idea behind farm collaborations is that each of the collaborators provide an equal amount of HNY, which then goes into the farm, rather than it being fully subsidized by 1hive.

Read the post again. This isn’t for a farm sir. This is for HNY socks, a parallel to UNI Socks. I’ve built the infrastructure for Shenanigan and am offering to do the same for 1hive as a collaboration opportunitty.

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cringes for particle

I think I’m just confused about the staking thing, or the nfts. But, yeah, I think an xdai community merch store would be cool. I’d buy a 1hive shirt and socks.

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yah thats essentially the idea! Except use staking and raffles insted, since liquidity is so low! Check out Aavegotchi staking https://cryptoticker.io/en/aavegotchi-staking-a-simple-guide-on-how-to-stake-your-ghst-tokens/

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