There’s been so much going on these past couple of weeks in the world of HyperJump, we just don’t even know where to begin.
Farming in Space
The obvious place to start is with our release of the HyperJump Asteroid Field on Fantom Opera. On May 3rd we fair launched our yield farm and was met with a lot of enthusiasm. One thing we have noticed, however, is that there seems to be a misunderstanding around farm emissions and inflation rates. We always like to jump at the opportunity to inform.
The only way to provide reward tokens consistently over an extended length of time is to mint new ones. When we look at token inflation, what matters is how much the supply of newly minted tokens affects the existing number of tokens already in circulation (the “circulating supply”).
As ORI’s circulating supply increases, the constant emission of 3.14 ORI/s has a proportionally smaller and smaller impact on total supply. The inflation rate naturally decreases over time.
Because ORI had a fair launch with no pre-mined tokens, the initial circulating supply was low and so inflation did start high. It has rapidly decreased since then and will continue to decrease.
ORI’s inflation rate is highly competitive, and in fact lower than some of the biggest names in yield farming.
ORI has an uncapped supply so that it can deliver long-term value. Capping the supply would mean that the farm would have a built-in end date.
Instead, ORI will have a “soft cap” where new supply from emissions is offset by multiple burn mechanisms that destroy existing tokens to reduce supply. We expect that, in time, the burn rate will match the emission rate, and the circulating supply will become static. If the burn rate exceeds the emission rate, ORI will become deflationary!
A supply cap is not needed to maintain the token’s value as long as the circulating supply is managed. And we already have a couple of mechanisms built into the ecosystem to do that. The 1% deposit on the LP farm goes directly to buying back and burning ORI. Additionally, 2.5% of the yield farmed in the non-HyperSwap LP StarVaults goes to buybacks and burns
We also have a few more mechanisms in the pipeline…
Enter, the Star Map
Our updated Star Map (road map for the earthlings) has several items meant to control burns, and give added utility to the HyperJump tokens.
The first item we will introduce is voting for holders of HYPR (on BSC) and AURORA (on Fantom). Holding these tokens will give the community a voice in what benefits we provide. For example, we will have a “MECH pool of the week” and the community can submit their favorite tokens to be voted on. We also want suggestions from the community for which Star Vaults we should add.
Next up is the full version of Asteroid Armada. A small amount of ORI/ALLOY will be required per play. 50% of the tokens will go towards a weekly prize for high scores, and the other 50% will be burned.
Take a good look at the Star Map and you might even be able to smell the ORI and ALLOY burning.
Fantom Air Drops
The first round of early LP provider AURORA airdrops has been completed as of May 18, 2021. We have a few more rounds of airdrops to follow. The best strategy is just to use our platform. You never know when and how the snapshots will be taken.
The Mech Workshop
If you are new to HyperJump, one of our coolest features is the ability to stake single assets for DOUBLE REWARDS. We just wanted to take a minute to show any newcomers how this works. Check out the video below:
If you run a project on Fantom or Binance Smart Chain and would like to get exposure for your token through MECH staking on HyperJump, reach out to us on Telegram or Discord and we will hook you up with our Marketing team for additional details.
Vault the Universe!
Of course, you knew once we loaded up the farm we were going to have to bring over our Star Vaults as well. Vaults do effectively the same thing as Farms, except that they compound your earnings into additional LP. This allows your LP position to grow over time, and continue to work for you.
Our Vaults will not only be for the farms listed on HyperJump. We will help you compound your farm rewards from any project. We started cross-project vaulting with vaults from SpookySwap and SpiritSwap. LP on either of these platforms and compound your earnings by depositing your LP tokens in the Star Vaults. More Third Party Project Vaults coming soon!
Not only do our vaults have terrific APY for you to take advantage of, but they also do something that most of the other compounding projects from other chains are not currently. We are keeping all of the fees earned from our Fantom Vaults on Fantom!
Building on Fantom
We mean it when we say we are here to support the Fantom Network. We aren’t here just to take money over to another chain. When you vault in the BSC Star Vaults, you expect those fees to be used to buy back and burn tokens on BSC, you should expect the same on the Fantom Network.
Hyperjump is committed to its communities on both BSC and Fantom. Fantom fees will stay on Fantom, and BSC fees will stay on BSC. This is the Way.
Burn Baby, Burn!
Remember those fees we talked about earlier? We use a part of every fee we charge to buy back and burn tokens. Over on BSC we have burned over 400,000 ALLOY tokens out of existence.
In two weeks since the genesis of ORI we have burned an impressive 270,000!
Additionally, over 150,000 Aurora have been burned from supply due to its burn on transaction function. A community member did the math and said they were receiving 0.4 to 0.5% DAILY passive income just from holding Aurora (this number depends on transaction activity and burn rate). You don’t need a vault to make that passive income, it just shows up in your wallet!
A note about our burns. We know you all like to know when buyback and burn transactions happen. However, the bottom line is that we are burning so frequently that we would need a whole new Twitter handle just to follow the burns.
In an effort to reduce the “noise” on our Twitter feed, we will be announcing our burns once a week with the total token burns on both chains. We will still burn many times a day, every day. We just are not going to fill up the socials with our burn transaction.
We know that there is little patience in Crypto, and there are always going to be cries of WEN? We ask you all to look around the crypto landscape, check out the projects that have been exploited, or outright rugged in the last day, week, month. That’s not us. HyperJump’s #1 priority is investor security. We own our own tokens, it is in our best interest to secure the platform for our investment as well as yours.
Sometimes this takes longer than anticipated. That is why you won’t get hard and fast deadlines from us. Our team is growing, we have onboarded new Developers, for both contract code and Front End work. We have also been in the process of adding more mods and admin to our Discord and Telegram and expanding the international community again. A lot of the work being done is not flashy and does not make green candles, but it makes a difference in the long run.
We want you to grow with us. So come to our socials, hang out and get to know the project. Some of our core people will even pop in from time to time.
That said, of course, we have the links for you. Check them out below.
The Good Stuff
BSC Swap — https://swap.hyperjump.fi/#/swap
Fantom Swap — https://ftm-swap.hyperjump.fi
Fantom Analytics — https://ftm-info.hyperjump.fi
BSC Analytics — https://info.hyperjump.fi/home
Main Page — https://hyperjump.fi