Thanks to all for participating in our AMA with Bunicorn. We really appreciate all your support. There were really good and thoughtful questions that were asked. For those who missed our AMA, this AMA recap is for you.
CryptoNationIN – Hello Alex
Welcome to the CryptoNationIN 🥳
Glad to have you for the AMA today 😃
Alex – Hello everyone 🙌
Thanks for having me here today!
CryptoNationIN – It’s our pleasure
Alex – Everything is fantastic at Bunicorn so far ^^
CryptoNationIN – We wish the same for the future
Alex – Thank you for your nice words!
Wish you all safe and sound during the pandemic.
CryptoNationIN – Thanks Alex. We wish you the same. 😊
Let’s start the AMA with introduction.
Please introduce yourself to us.
Alex – Sure. Hello again. I’m Alex from Bunicorn. Happy to talk to you today!
I have been in the crypto space for 5 years. I used to work at TomoChain as Marketing Manager for the last 4 years. Now I’m with Bunicorn as Head of Communication.
Bunicorn is run by 30 people with rich experience in the blockchain field. Recently we have recruited 2 talents including Vincent Vu – Game Design Director, and TuNa – top 100 Binance NFT creator to join our team & imagine a unique game universe for Bunicorn. You can read details about our core team on our official website https://bunicorn.finance
CryptoNationIN – Magnificent 💫
Could you please introduce Bunicorn to our community?
Alex – So at Bunicorn, we are building an intense DEFI Game platform that elevates DEFI and blockchain gaming experience to the next level
Within Bunicorn Ecosystem
— Bunicorn RPG game is designed for the “Play to earn” purpose while teleporting users to a magical “Bunicorn” world with exquisite NFT collectibles.
— Bunicorn exchange is a highly performed AMM DEX that offers investors yield-earning opportunities through liquidity pools and liquidity farm mining with unique time-locked rewards wrapped into tradable NFTs.
Q1. There are 2 types of pools in Bunicorn. What is a FLEXIBLE pool? How is it different from the pool containing stablecoins? What kind of benefits does it provide to investors and users?
Alex – Bunicorn flexible pools are modeled after the concept of N-dimensional invariant surface AMM proposed by Balancers. Each pool contains the two or more tokens and each must have the independent weight. The weight of the token in each pool represents its proportion of the total pool value.
Liquidity providers can also join a multi-token pool with a single asset.
There are two types of Bunicorn flexible pools and their benefits as below:
— Shared Pool: are “public” flexible pools whose parameters are fixed. Anyone can add or remove the liquidity and swap tokens in the pools.
— Smart Pool: pool creator can change 6 different parameters like Change Weight, Change Fee, Pause Swap, Restricted LP to whitelist. Bunicorn is bringing the Balancer-style liquidity bootstrapping pool (BBP) to the Binance Smart Chain. The pools have been specially designed to distribute tokens fairly and bootstrap liquidity in token launches, both weaknesses of current AMM models.
Regarding the stable pool, it is a special type of AMM pool that only works for stablecoins. There are several advantages of a Stable pool:
— Amplified pools with extremely high capital efficiency
— Lower trade slippage due to high capital efficiency.
— Dynamic fees to optimize returns for liquidity providers.
Q2. I need some theory. In view of the fact that the NFTs are key in your project. How does gamification help to broaden the range of guarantees and create fun interactivity?
Alex – Everybody loves game. Especially, you can have fun while playing and earn rewards at the same time!
By the end of August, we will release the first Play-to-earn RPG game on BSC along with our NFT marketplace.
This is the first game in the Bunicorn Universe in the form of a card game, which will be web-based. The Pokémon-inspired game allows players to collect and own trainers and Bunicorns to battle each other for rewards. Basically players can earn income from this game through:
— Rewards after the battle is won
— Upgrading and selling trainers/Bunicorn on the market
— Luck to get high level of rarity Bunicorns
— Staking and receiving rewards from a part of the game’s revenue for BUNI holders
Q3. You hinted about Bunny and horn NFT gaming theme. Will this mean that you will be releasing Bunicorn games where these NFTs will be needed? Can you provide some clue with regards to your game? Will users be able to earn while playing?
Alex – Thanks for your question! We are so excited for its launch by the end of this month. It is the very first game in Bunicorn gaming metaverse we are going to release in the future.
A quick intro about Bunicorn Game: it is a Play to Earn NFT RPG inspired by Pokémon on the BSC network. The game set foot in a fictional universe and revolves around the hunting and training of fantastic creatures named Bunicorn. Players enter the battle using their trainers and Bunicorns to earn BUNI tokens. Assets are player-owned NFTs minted in the ERC-721 standard which may be traded on the marketplace.
Yes, you can play to earn with Bunicorn. It utilizes a Play-to-Earn model inspired by CryptoBlades by distributing BUNI through gameplay and giving value to player NFTs by increasing their use through future features.
👉 Details: https://blog.buni.finance/bunicorns-play-to-earn-adventure-battle-to-redeem-buniland-s-peace-c3a1d37bdb2d
Q4. What was Your project created for, what solutions has it come to provide in the cryptospace and how do you expect to implement these solutions?
Alex – With the goal of becoming a specialized ecosystem for upcoming play-to-earn projects, in each of its products, Bunicorn ecosystem own various solution to solve the problems that similar products are facing, including:
— The main problem with DEX is impermanent loss when liquidity providers (LPs) have to join high-risk pools on Pancake. This makes half of their accounts exposed to a token whose price goes up and down with too much volatility.
— When users trade stablecoins on DEX normally, the slippage is too large, not suitable for trading stablecoins
The yield farm projects that have high APY often return the token’s very high inflation rate. This makes users tend to pump all tokens after farming.
PLAY TO EARN NFT GAMES
The tokenomics problem in the game is quite difficult for many projects. And for us, we can balance growth and sustainability in the game and solve problems such as:
— the entry cost for new players is not too high, which can help attract new players
— The ratio of bonuses for old and new players is stable and fair
— tokens used as bonuses are not too inflationary
— Currently, marketplaces like Opensea have too many categories of NFT, or other marketplaces only specialize in pictures
— The community needs a specialized marketplace for NFT games to exchange, buy and sell items of each game
Q5. As I know this project is relatively new, you’re just getting started. Can you tell us about the progress you have made so far? What has been the most important update of the moment and what are you currently focused on?
Alex – Bunicorn just has successfully released Bunicorn DEX (https://bunicorn.exchange/) on 12 July. Our DEX got pretty impressive numbers with around $26M TVL and good trading volume. Despite $BUNI’s IDO was laucnhed at the time of the bear market but currently still has an ROI of x8 compared to IDO price (0.03) and was once a top gainer on Coinmarketcap.
We are running the NFT farms where users can enjoy juicy APR and receive NFT tokens as extra rewards to play in our game.
At the end of this August, we will be releasing the Bunicorn Game and Marketplace at the same time as I mentioned above.
On the other hand, our team is still exploring a new game with high complexity and more investment at the end of the year 2021.
These are other things in our roadmap in the upcoming future after the game and nft marketplace:
– The 2nd Bunicorn game launch by the end of 2021
– Mobile app for DEX
– Synthetic swap and Derivatives
– Crosschain swap via Polkadot and Layer2 ETH
You can follow us at @bunicornswap for the latest updates!
Q1. I’ve noticed that Bunicorn uses amplified pools adopted from the Kyber Network’s DMM system. Does this mean that ưew can experience a safer slippage percentage? Could you give us an example?
Alex – As I introduced above, Bunicorn exchange has 2 types of pools: Stable pools and Flexible pools. Regarding the stable pools, we adopt Kyber DMM technology to ensure super low slippage and high capital efficiency for stablecoins. Kyber DMM uses amplified pools with dynamic fees that increase or decrease in periods of high or low volatility, respectively, according to an AMP factor. In this way, the DMM optimizes returns by reducing volatility.
We made an experiment ourselves the other day and the result was fantastic.
With the same amount of 10,000$ USDC to BUSD trading done on the Bunicorn and Pancakeswap, we received 11 BUSD more in return from Bunicorn
At that time, TVL on Pancakeswap was ~ $144M in USDC-BUSD pool alone, Bunicorn’s was only ~$5M
This proves that Bunicorn exchange provides much better capital efficiency, slippage & fee for traders while swapping stablecoins
This is our experiment: https://twitter.com/phuc_bunicorn/status/1425363784416129025
More explanation here: https://forum.buni.finance/t/bunicorn-owns-one-of-the-most-cost-efficient-stablecoin-pools-for-traders/113
Q2. Do you have AUDIT credentials or are you working to AUDIT your project, to make it more secure and reliable?
Alex – To further build a better version of the cryptocurrency market with maximum security, we recently have chosen Hacken (https://hacken.io/) — a leading cybersecurity consulting company with an essential focus on blockchain security — to perform extensive audits on our project. The audit took two rounds to complete. It gives us immense pride to declare that our smart contracts are secured.
Certik is also auditing us, hope the report will be out soon.
Bunicorn also hosted in Immunefi and Hacken Proof with the reward up to $50K without any vulnerability found so far.
We are discussing the integration terms with InsurAce to get insurance products for our TVL.
Q3. What use plans do the NFTs have within the ecosystem and in what ways are they going to be valued?
Alex – Unique BUNI NFT collectibles will be generated from yield farming on Bunicorn exchange.
Bunicorn NFTs are not only to be traded/exchanged on the marketplace but users can also play with our new game. It is how we combat the post DeFi liquidity crisis that every yield farming projects have to face. We add a soul to each NFT token, giving them a mission to help owners conquer new goals in our game. This brings a long term meaningful value, both financially and intellectually, to NFT tokens and its owner.
Apart from the Artwork/Gaming value, each NFT in Bunicorn is actually backed by real BUNI tokens, so it contains speculative value as well. It means you can see it as a bond to buy/sell/invest at a future price.
Our team just recruited a Veteran Game Designer in Vietnam, Vincent Vu. He graduated from Edith Cowan University, Singapore and has more than 11 years of experience in the gaming field. He worked with Scopely in WWE Champions and now have been working on Impostor Solo Kill that has more than 30 mil download within 3 months.
And TuNa – TuNa stands out as the Top 100 Binance NFT Creator. He is also recognized for his brilliant talent in his homeland Vietnam as the artist has published his #Hanoipunk (https://www.facebook.com/media/set?vanity=artist.tu&set=a.3220375038022130) and #Saigonpunk (https://www.facebook.com/media/set?vanity=artist.tu&set=a.3392884537437845) series, which perfectly blends the rustic charm of the two cities with fantasy steampunk elements. He will also take the role of the Art Director of Bunicorn’s the 2nd brand new game coming at the end of this year.
Thank you Alex (Head of Comms) and Community for participating in the AMA. Have a nice day.