Want to help review the contract?? Github link - >> HoneyBees/HoneyBees.sol at main · SirWithAComputer/HoneyBees · GitHub
Want to help provide input on the name?? ->> Please Comment Below!!
1 HNY = 1,000,000 HNY BEES
Y.earn came up with a fun idea, of wrapped fractional tokens to increase token appeal and lower the (psychological) price-barriers to entry.
They did this by wrapping YFI as a ‘moon token’ called ‘Woofy’, with the only difference being that the latter uses 12 decimals instead of 18 decimals to bring the per-token price down to just a few cents each. (Sushiswap will be deploying a similar token soon, likely called Meowshi.)
This gave me the idea to do something similar, and bring a little more fun to our HNY token.
Besides being fun, this could help as the community grows, as it would be a lot more psychologically motivating for people to earn/acquire/hold multiple tokens instead of fractions of a token, which may help increase engagement in the community.
Personally, I thought it would be a lot more fun if I could have thousands of HONEY BEES instead of < 1 HNY, so I decided to make the Honey Bees wrapper for my own use.
But it occurred to me that the whole community may be able to benefit from this, so I decided to courage-up and post this to see what everyone thinks of the idea.
With less than one HNY, it’s easy to feel like too small of a fish to be worth voicing an opinion - hence why I feel community participation could really benefit from these fractional tokens; it could help new members feel as if they have a non-negligible stake in the community. If adopted by the community, this could also make bounties and the faucet more appealing for new AND existing users, as many would feel they are receiving more value for their time. (Humans are weird, what can you say…)
Expected duration or delivery date (if applicable):
It’s already done. I originally made it for myself, but wanted to address the community to hear their thoughts to see if we can make it a community-project!
The concept is based upon the woofy contract, but has been rewritten, with two new added features: (1) Governance snapshots have been added, so BEE holders can potentially keep their voting rights.
and (2) An easy no-gui withdraw method inspired by the xDAI bridge, where sending BEES to the contract will automatically unwrap them back into HNY.
I’m usually a silent participator (see small fish, above) and I don’t really post much on any SM… but you can find me lurking around the discord from time to time as @mrsir
Skills and previous experience in related or similar work:
What are some of your skills or related experience that might help inform HNY holders about your ability to execute on your proposal
This is an exploratory hobby and not at all my expertise, so take that as you will… but if anyone likes the idea I’ll publish the code to github and anyone who is willing can help review it before deployment.
Amount of HNY requested:
I’m not requesting any HNY. This is just for fun, and I would be doing it for myself anyway
However, if honey bees is as popular here as it was in YFI, perhaps I will initiate a discussion on a proposal for the DAO to provide HNY/BEE liquidity, to make BEES more easily accessible to new members.
Ethereum address where funds shall be transferred:
No Funds Requested. Any funds requested for HNY/BEE liquidity will remain in the custody of the DAO.