A live AMA was held in the Telegram with Hamstertoshi. This is what happened:
Q: You mention suicide pools. What do you mean with this?
A: What we are hoping to do is provide unique LP pairs. This will work in a few ways; it will reward our farmers with bonus rewards, it will also serve to bring in new funds for buying back tokens through 1. Deposit fees that will be slightly higher on the suicide pools 2. Outreach programme to other projects. These projects will pay for farm listing on Hamster, with the majority of the fee received used to buy back hamster tokens. It will also serve as a community outreach that can help to revive failing projects without the technical skill to launch their own farm. This should help a consistent flow of new users whilst also rewarding existing farmers via buy back and providing new pools not seen in other projects. We plan to implement community vote on pools we should add
Q: What will the the burn mechanism look like?
A: This will be a smart contract that will be used to buy back Hamster using a % of the deposit fees automatically. Combined with the “suicide pools” this should help to support a stable hamster price. In addition, we also plan to introduce a lottery like PCS, that will burn a % of the ticket price with the rest used for rewards.
Q: Why do you need to revamp the user interface?
A: We forked egg as it is familiar to most users, but as our plans for this project are unique, we plan to add our own twist to the UI and revamp it to reflect our project.
Q: Why does price dip so low?
A: This is a yield farm and you should understand that before entering. The way a yield farm works is it rewards farmers with our native token (HAMSTER). This means that with more people farming, more HAMSTER is minted and rewarded to farmers. This creates more supply, so unless demand rises to meet supply, then the pressure on prices is downwards. This is simple supply and demand mechanics and how a yield farm works. We do have buy back plans as we mentioned earlier to help support a stable price and continue to reward our users.
Q: When will first buyback take place?
A: Once we reach 1.5m TVL we will do a “burn back” where we will buy back and burn Hamster tokens.
We will aim to do this in stages once we reach 2m TVL 2.5m TVL and so on.
We need to ensure sufficient funds are available to support marketing, development and the community to grow the overall userbase over time, which is why we will do burn backs periodically at these milestones. The exact amount to be burned will be determined closer to the time.
Q: What are budgets for the project overall?
A: Of fees collected initially we have reserved 20% for marketing, 10% for community, 20% for development and 50% we plan to use for burn backs.
Q: What is the experience of the development team
A: We are a team of 6. Combined within the team we have 60+ years development experience and 10+ years of combined solidity experience.
The AMA was well received by the community. We hope to hold more in the future.