Humswap is launching a staking feature that the team expects to go live in approximately three weeks. Humswap’s co-founders Jason Tezanos and Mario Lopez recently participated in an AMA on the official Humswap Discord server to discuss recent and upcoming developments, including the staking feature and a partnership with DogeRift to develop a play-to-earn GameFi application.
Humswap is a DeFi platform built on Neo N3 that aims to offer liquidity pools for various tokens, a marketplace for NFTs, and token swapping. It will also provide an opportunity for users to play games and win prizes.
While staking information isn’t currently publicly available, the Humswap co-founders stated that the BOWL NFTs will yield a NEP-17 token called HUMS. Further, plans are in place to offer rewards for the Ants NFTs and Lucky Tiger NFTs.
The Humswap team will release detailed information about the staking processes in the coming weeks.
The Humswap team is also offering smart contract support to DogeRift, a play-to-earn GameFi application that will be built on the Neo blockchain. While DogeRift characters resemble the mascot of the popular memecoin, there is no affiliation with the DOGE cryptocurrency. The DogeRift team is currently developing a beta version of its application, which it intends to launch in two to three months.
The game will feature dog-like characters in the form of NFTs, a Doge Food Token (DOGEF) as a form of utility token for in-app purchases, and a DogeRift Token (DRG) for governance purposes. Additionally, the landscape within the game will be tokenized and customizable, elements of which will be available for purchase.
The DogeRift game will offer two types of gameplay, player-versus-environment and player-versus-player, each with its own play-to-earn mechanics. Developers recently released an alpha video demonstration of gameplay.
In exchange for the Humswap team’s smart contract support, the DogeRift team intends to develop games for the Humswap ecosystem.
The full transcript of the AMA can be found below:
Q1: What feature of the Humswap platform is the team most excited to be developing?
Mario: We are most excited to be working on the ability to stake your NFTs through our website. This includes BOWLs, Ants, and Tigers and working on integrations with other projects.
Q2: Have the issues with the O3 Wallet been fixed? If so, will the team be moving the mint price from 9 GAS to 30 GAS, with incremental GAS increases each week?
Mario: The problems of the O3 Wallet have mostly been fixed, and we are hoping to make the changes live no later than in three weeks. Once those changes become live, we will start increasing the mint price from 9 to 30 GAS. This update will bring a multitude of updates to make current features more pleasurable and bug-free experience.
Q3: As the NFT and DeFi non-custodial exchange concept is novel, will Humswap mirror attributes similar to Pancake Swap’s integration with NFTs?
Jason: In short, yes. There is a legal aspect that somewhat forces us down the dynamic listing path (although that is what we want to do regardless). If you create a token on Neo, you will be able to create a token pair on our DEX for your custom token. There won’t be a curated listing process, so we will be similar to Uniswap in that sense.
Q4: Is it a requirement for a Humswap user to own a BOWL NFT to use the DeFi platform? Can you share any information about new projects the Humswap team might work with?
Jason: For DEX features, they will be useable without using a BOWL. Our preference is for the user base to outcount BOWL supply, as this would push BOWL valuations higher and provide a strong incentive to utilize Rentfuse, even if for one second. Unfortunately, projects we have been introduced to will not be mentioned unless they successfully strike an agreement with Neo (or they decide to launch outside of getting support from Neo).
Q5: Are there any plans to burn the remaining BOWL NFTs that have not yet been purchased?
Mario: No, this is currently a strategy we do not want to take on. We think the various features we are planning to roll out will make it worth waiting for them to sell out. Hence we are actively working on bringing those features online for the community.
Q6: Is the Humswap ecosystem going to be “open?” That is, will it be allowed for developers to provide utilities (like games) for the BOWL or other Humswap NFTs? If so, will you be open-sourcing an API to ease development?
Jason: Yep. We focus on working with other projects on the chain, and also providing features that work with those products. The DEX will be completely open from a listings perspective. Essentially we won’t be listing token pairs, as users will provide liquidity and pairs as they see fit, and those will be available to all. We don’t have anything in the works yet from an API perspective, but the blockchain contracts will all be open and available to work with.
Q7: Can you share a little more information about partnerships Humswap has already established?
Jason: We have several projects we consider partners. I would even place Neo as a partner. But outside of that, we work with GhostMarket, NeoCandy, Lyrebird, Rentfuse, Flamingo (Mr. Google, thanks for the bot! We will be working with NeoDashboard to get this implemented soon), and I am sure some more from the Polaris Hackathon.
Q8: What’s your main focus right now? Is the Humswap team more focused on the community, developing the non-custodial exchanges, or other products?
Mario: Currently, our main focus is the product. We believe if we have a good enough product, users of the platform will be satisfied when we shift to more marketing. So the better the product, the better the reception and outlook for Humswap.
Q9: Are there any plans to create NFTs based on real-world assets?
Mario: Yes! We have thought about this and have started to look into it, but it is not a priority right now. Expect more on this in Q2 or Q3 2022.
Q10: What NEP-17 coins will be listed on Humswap when the non-custodial exchange launches?
Jason: This will depend on who is providing liquidity. We know that we have a few very large liquidity providers that will kick start a lot of the base pairs.
Q11: Can you explain the role BOWL, Ants, Tiger, and PITA NFTs will have regarding Humswap’s staking and yield farming process?
Jason: BOWLs will yield HUMS. Ants will yield something that is unannounced but already set!
Tigers will be completely unique in what they yield. We will have more details on just the Tiger staking in the coming weeks.
PITA is yet to be determined.
Batch staking is something the team is working on, but will most likely come after the general staking feature rolls out.
I do want to make an awesome announcement outside of answering questions. We have partnered with DogeRift, for a Humswap and DogeRift collaboration!
We will be providing smart contract support for their team, and they will be making some awesome games for the Humswap ecosystem!
Q12: Are there any plans to recruit developers to the Humswap team, and could you provide ETA about the different projects?
Mario: Yes, this is definitely in the works. Once we release some staking functionality, we will start actively recruiting more folks to the team. We need to produce a constant stream of revenue to sustain the team. Regarding ETA on different projects, it’s hard to set an ETA because different projects have different needs, but we are working on integrating things as soon as possible.
Q13: Does the Humswap team intend to release documentation that details things like requirements and benefits of staking, liquidity, swap, and the utility and token economics of HUMS token?
Mario: We will be writing something up and post it on our site. We have noticed there is a good amount of confusion regarding some of the DEX features, and we want to bring as much clarity as possible. So in about three weeks, once we update the site, we will have a section that will explain staking very thoroughly so you can better understand what it all means before you stake your NFTs.
Q14: What is on the short-term roadmap for the Humswap team?
Mario: Staking will go live in about three weeks, along with bug fixes and wallet updates. Once we finish that, we will start producing more estimates for more DEX features. That is our current short term timeline.
Note: Some edits have been made for formatting and readability.
The full AMA can be found at the link below: