The re-launch of the project shows that this team is focused on building and persevering through the tough times. This is no new project, but rather a project with a lot of experience that continues to innovate
Thugs.fi is in the midst of its re-branding procedure; when completed, the project will be known as HyperJump.fi.
Let’s look at how far they have come so far and maybe answer when they are launching. I am also going to reveal some of the tokenomics for the new tokens, a sneak peek.
THUGS, How It Began…
The Thugs.fi project started early October 2020 and was a very “early” project on the Binance Smart Chain (BSC). The project started out as an AMM/DEX fork of SushiSwap on the BSC. The primary token was the $THUGS token, which had a unique burning mechanism in it. If the price was low, the burn rate was high, and when the price was high, the burn rate would go down. The maximum burn would be 50% which was put in place to deter selling.
The other tokens in the ecosystem were the $DRUGS and $HOES tokens which were primarily used for yield farming. You would get $HOES tokens in a 1:1 peg for staking $DRUGS tokens. Users could then stake the $HOES for other tokens resulting in double earnings.
Later, the $GUNS token was introduced. This token was to be used to create NFT (non-fungible tokens) in the planned game. A later addition made it possible to swap your $GUNS for East or West side NFT tokens.
The $THUGS community is in contradiction to its name, a charming and helpful bunch of people.
When a famous rug-pull took place on another project (Safu-Swap), the Thugs community helped the rug-pull victims get their funds out of the contract. Thugs also organized many giveaways, contests, and competitions. These Thugs have a golden heart.
The reason for the re-branding is due to the current “harsh” theme. With tokens like $DRUGS $HOES and $GUNS, the project faces difficulties when creating partnerships and listing on exchanges. Overall the theme was ill-suited for mass adoption, and the re-branding will make the project more accessible to a broader audience. Both users and future partnerships will feel more at ease with the HyperJump space Theme.
HyperJump (previously TrapHouse)
The HyperJump theme is set in outer space but not bound to that. Alongside the space, theme is time travel and other dimensions. This means that the future game could have multiple worlds in which you can compete with other players. But development is yet to begin, so don’t get too excited yet!
The $HYPR token is already in circulation and can be obtained by swapping your $THUGS tokens 1:1 for $HYPR. If you obtained $THUGS before February 25th, 5:25 AM UTC, you can still swap to $HYPR. The web page to exchange is no longer available, so users must visit the special telegram channel that was created to facilitate the swaps. If you bought $THUGS after the cutoff date, you would not be eligible for the swap.
The $HYPR token has some exciting features to it. The token will have a variable burn percentage between 0.5% and 33%. This rate will be based on the price of the $BNB token (Binance Coin). The team is yet to release the exact formula for this burn rate but keep an eye on their medium page for an update. Further, the token will earn passive yield straight from within your own wallet. Every transaction triggers the previously mentioned burn, and 50% of the burnt tokens will be redistributed to HYPR token holder’s wallet. Every time someone does a transaction, you will see your amount of tokens grow, pretty neat.
The remaining half of the transaction fees will be split, and half will go to the developer fund while the other half is permanently burnt. The developer fund will be used to fund further marketing and developments, ultimately contributing to the project’s growth.
The $ALLOY token will be the farming token for the HyperJump yield farms and staking.
To get your $ALLOY tokens, you will have to use the swap website interface that will be made available when the time has come. This interface will allow users to swap their $DRUGS, $GUNS, and East/Weststokens (all the same value) for $ALLOY. The swap will give you one $ALLOY token for ten $DRUGS tokens, so 10:1.
Although the token has an inflationary design, the developers have made sure to put a few mechanisms in place to control supply. For starters, the block emission will be the number Pi. This means 3.14159 new $ALLOY tokens will be minted per block. For reference, the $DRUGS token had an emission of 6.9 tokens per block. This alone already reduces the inflation rate, but there is more. One percent of the profits from the HyperSwap AMM will be used for buyback and burn $ALLOY. This will be an automated process coded in the contract. Further, the farms will have a deposit tax of 1%, which will contribute to the buyback and burn of $ALLOY tokens.
Overall these mechanisms are in place to reduce inflation and drive value to token holders. The team has improved upon the previous model and has mentioned that they have more mechanics in store. Until then, we can enjoy the improved tokenomics model of $ALLOY and wait for more innovation to come.
Sneak peek at a part of the new UI
HyperSwap will be the new name for what is now known as StreetSwap. All the same, mechanics will still be in place, 3% of the fees will flow to liquidity providers, and 1% of the fees go to a buyback and burn of the $ALLOY token.
The only thing that will be different is that you don’t have to access the AMM and liquidity pools via separate URLs. The new release includes the whole HyperJump project via one link.
Another nice thing to note is that the team has set up its own node for chain data (for correct prices). This ensures that the data will always be up to date. The servers have also been updated and should provide a lightning-fast experience
Current TrapHouse users are eager to know when they can stake for other tokens again. I can tell you it is a matter of days now, but an exact date was not given.
While you wait, here is something to keep you cozy; here are some of the partnerships for farming that the Hyper Team has already confirmed:
One partnership I didn’t list was ChartEx. I am most excited about this partnership as it provides super useful charts for trading.
It is important to note that the HyperJump team has no distinct leader. All decisions are taken after a vote by the DAO (decentralized autonomous organization).
Currently, the DAO consists of 32 Members. These include the core team such as coders, sales, and marketers alongside committed community members. I myself have found myself in the DAO. On behalf of the DAO, we make every decision using a democratic process to best ensure those wise decisions are made.
The re-launch of the project shows that this team is focused on building and persevering through the tough times. This is no new project, but rather a project with a lot of experience that continues to innovate. Everyone on the team is doing their part to lift the project to the next level.
The awesome community is happy with the re-branding decisions and is eager for farming in the new liquidity pools. The new tokens $HYPR and $ALLOY both have great potential. I am especially fond of the $HYPR with its passive yield mechanism. This, coupled with the low emissions and buybacks on $ALLOY, makes this a token on my watchlist. If the calculations were correct, this should give a nice balance on the inflationary token, preserving its price.
As I said, it is a matter of days now before the doors will open. I can hardly wait to be honest, can you?
If you can’t wait or want to know more and hang out in the telegram channel, you can check out the following HyperJump media and website links.
Source : bsc.news
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