06.04.22 — AMA Session Hosted By Dead Wallets Society
On the 16th of May, we held an AMA with Dead Wallets Society in which we answered the questions of the crypto community about us. During the AMA, many interesting community questions have been answered. For those who have missed our live AMA, we’ve prepared this text for you to see what questions had been asked and how they were answered.
Question 1. What are your plans to connect the whole ecosystem together?
Answer: Yes, we will connect the whole ecosystem by presenting new features on our products and the first one will be auction bonding.
Question 2. Is WINGS staking planned? If yes, would you share some information on how it is going to work?
Answer: There will be TWO new utility-based features/implementations coming in May. One will be the Auction Bonding which I already explained. The other one will be WINGS-related staking game. (WINGS = wrapped HELENA).
Question 3. A core requirement of any tokenization model is creating a “utilization case” a real-world, everyday utility. So, what are your plans in the future?
Answer: I would like to highlight our current utilities differentiating us from competitors and the upcoming utilities as well in one solo post to explain it as clearly as possible.
CURRENT & UPCOMING UTILITIES/USE-CASES
CURRENT UTILITIES
Total Security Approach → KYC by AssureDeFi, AUDIT by CertiK and Solidity Finance, No Minting Code & No Team Tokens, 100% of the LP Locked for 1 Year.
Buy/Sell Tax Revenues → Boosting Treasury Revenues on every trade, Boosting Liquidity stronger for protocol’s long term price floor, boosting deflation by weekly burns, boosting marketing budget. Please kindly note that our taxes are lower than our main competitors.
DAO Governed Adjustable APY → The APY will be adjusted during the first 45 days after launch according to the Genesis Period (45 Days) as stated in the table below.
Weekly Burns (Impulsive Burning Hole) → 37% Burned at Launch + 1% of all $HELENA trades for that particular week are gathered and the total amount is burned every week.
Simplified User Experience → Autostaking and Autocompounding in-wallet, enjoy staking experience just by holding $HELENA inside your wallet.
The Hellenic Treasury → 4% to 10% of all trading fees are stored in The Hellenic Treasury, which helps sustain staking rewards by maintaining price stability and significantly reducing downside risk, and “buys back and burns” $HELENA from the liquidity pair.
UPCOMING UTILITIES
Auction Bonding → Fast-paced game with exceptionally low offer fees boosting Treasury
Random Golden Epochs → Incentivize investors to keep holding and boosting rewards randomly.
NFT Zone → All revenues from random NFT box openings and an NFT staking with BUSD payouts revenues, boosting Treasury income, leading to long-term sustainability.
Club House Games → All revenues from dice game, wheel of fortune, bingo, lottery tickets, etc. will boost Treasury income as well, leading to long-term sustainability.
Question 4. Looking at the Auto-Compounding feature, since users’ rewards will automatically be converted to LP Tokens, what happens if a user Unstakes before the Staking Period? What are the penalties? How will the rewards be distributed since it’s currently in LP Tokens?
Answer: $HELENA AutoStakes and AutoCompounds, directly in your wallet. Tokens you receive are instantly staked and set up to acquire rebase rewards. It’s that straightforward. So you do not necessarily stake your tokens in any pool or contract. It just auto compounds and earns rebase rewards every 15 minutes. This also means there is no stake or unstake fees (penalties).
Question 5. The first product of Helena NFT Zone will be released in June right? How to own it first? What are the benefits and what are the conditions?
Answer: Yes, the NFT Zone will be presented in June. You will be able to mint the NFT’s using NMS/AngeL/ or Helena Tokens. This way we will burn some part of the tokens, and exchange other part for BUSD. Collected BUSD’s will be re-distributed as NFT Staking rewards.
Question 6. Is Hellenic Treasury wallet multi-sig? If yes, who are the signers?
Answer: All of our Reserve and Team wallets are Gnosis Multi-Sig Wallets.
The three developers of Nemesis Network are defined as policymakers and 2/3 consensus is needed for any wallet activity.
3 Devs: Drex — Lead Dev, Arwand — CMO, Vasmussen — CF
Question 7. Defi is a hot trend in today’s world, and we think it’s just the start. If the Defi trend comes to an end, what would your team do in order make sure HELENA FINANCIAL stays strong?
Answer: Defi is the future of global financial systems, and smart governments, will be no need for politicians but everyone will be able to vote from their mobiles or others, so governance is the future and defi will lead the revolution. Our ecosystem will be growing in defi space and with every stronger treasury in the ecosystem, all will be benefiting each other and we will be growing together in the long run. We are willing to create an ecosystem where people can come and participate anytime anywhere therefore being sustainable in the long run is our main focus. As Helena is our 3rd project in the ecosystem, we are more experienced and offer unique first in space rewarding and gamified features which we believe will be a big catalyzer on ecosystem token demand. Also, these features will create value and demand for future defi partnership tokens that will be used on all ecosystem projects, one example is auction bonding which I tried to explain the benefits above, and is expected to be coming in less than a month.
Question 8. When it comes to safety, nobody can guarantee the security of a smart contract. However, auditing plays a significant role in identifying known smart contract issues. What is the strength of your project’s security system? Have you ever had a third-party audit done?
Answer: Yes, we have worked with CertiK on all of our projects, as we believe they maintain the highest contract security standard possible in the crypto space.
Question 9. Reading about the mechanism of distribution and issuance of tokens, I’m not clear about the deflation mechanism of the project. How can the project control the inflation rate of Helena Financial tokens, can you clarify more? What is your strategy to attract new users and Investors to your platform and keep them long term.
Answer: Deflationary Nature of Helena.
From tokenomics design (everlasting burns every rebase, 37% of total supply keeps burning on every 15mins, no burn funds that can be depleted couple of weeks/months after launch). From Supply control mechanism (1% burning on buys + 1% burning on sells, total 2% burning on every total trade tax fees) From Trust Fund (Manual burning by the team using Trust Fund when needed for better control — which highlights the need for stronger revenue structure for trust fund, which comes from Auction bonding, NFT zone, and clubhouse revenues).
Question 10. Could you explain the benefits of No Mint Function?
Answer: No Mint simply means the contract policymakers cannot mint tokens calling external contract functions.
Question 11. Many projects fail because they lack an efficient token buyback or burning system or a poor inflationary model. For Helena Financial, what decentralized economic strategies have you created to avoid depreciation of your token over time? Is your token deflationary?
Partnerships are very important for any platform to build up from zero level to success. So, does Helena Financial have strong partners to support for withstanding against huge competition in crypto market?
Answer: Burning and deflationary is our middle name lol, as I answered above.
For 2nd question regarding partnerships →
Partnerships are a very important step we value in our next expansion strategy and the auction bonding feature is planned with two core ideas, creating treasury income, another option because only tax gains or other chain investments which is risky as seen on UST or LUNA, this cannot give confidence to holders. The income should be consistent so a unique gamified and casino-feeling like games with fast pace, offer over offer again with 1–2% very low fees can do this as long as partnership token portfolios keep increasing so once testing and release of auction bonding arrives, our partnership marathon will be starting.
So the very first step that we and the community came up with was to deploy the “Automated Buyback System” which will be funded by the Nemesis Treasury during the first couple of months and then the “Helena Trust Fund” will slowly reimburse Nemesis Treasury as the platform grows. The DAO Proposal regarding Buyback Program went through a couple of days after the launch and the Nemesis Treasury landed 1,000,000 USD for Helena Buyback Program.
Consequently, NMS Treasury started to buy Helena tokens from the HELENA/BNB pair and acquired tokens stored in The Nemesis Multi-Sig Treasury as collateral. The smart-buyback system was definitely a massive catalyst for maintaining the “Winning Chart” as it constantly reassures the community during our uptrend bull runs.
Question 12. Will there be more buyback programs in the future?
Answer: Yes as we nearly consumed 1,000,000 USD for the buybacks already. Another injection is planned soon for the second part of the buyback program.
Question 13. Now that the market is down, what are the plans to keep us from going lower? Could there be another big red day?
Answer: Market is indeed not on our side for this time but as it’s not due to our project, we will be continually developing and improving the user experience. On our first 30 days, we received over 135k visits to our website, this is a great number compared to regular marketing results of projects in general, but we found out that there is improvement needed on our website so Helena website will be re-designed from top to bottom to increase the conversion rates, meanwhile, we will continue improving our brand awareness by joining AMAs continuously every week, while use case upcoming feature auction bonding will be coming by then, then partnerships and its full meetings, bloggings, mutual tournaments, and events will be starting while regular marketing steps continue creating exposure at the background continuously. This is our strategy in general and hold strong and will wait for the main bull run, which I personally feel like we may see in summertime, let’s see how it goes
Question 14. How do you plan to conduct the vote for the next APY and how long will the voting last?
Answer: The genesis period ends on the 24th of May and the APY will be decided according to the DAO proposal. The voting will start within a couple of days and will last 3 days up to a week. (Still undecided.)
Question 15. It’s easy to make a project but it’s hard to make it valuable. So, what’s your strategy to make Helena Financial more valuable and what’s your long-term plan? Could you please tell us about your road map and upcoming plan?
Answer: You can see our 2022 Road map from here:
https://nemesisdao.medium.com/nemesis-network-2022-roadmap-together-we-build-the-future-1bcd2aa02dd8
