Create V2 Pool for HBAR/VRJAM (BLUE) 1%

Request for Comment
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Title: Create V2 Pool for HBAR/VRJAM (BLUE) 1%
Author(s): Sam Speaight & RealityJam Team
SaucerSwap Voting Interface: N/A
Related Discussions: N/A
Submission Date: 30.12.2024

Summary:

We propose the creation of a V2 HBAR/VRJAM (BLUE) pool with a 1% fee tier on SaucerSwap to support the effective roll-out of the project’s new b2b subscription service AiJAM. This pool will enhance capital efficiency, increase TVL, and liquidity for both SaucerSwap and Hedera to empower new LP’s to enter the market in a sustainable manner as the project’s subscription service comes to market.
By providing 1% LP rewards we hope to provide a more attractive opportunity for LPs and also account for potential price volatility.
LARI rewards to the value of $10,000 will be provided by the project owners to help reward LP’s and support the Saucerswap community.
Project owned liquidity currently held in the existing V1 HBAR/VRJAM (BLUE) pool will be consolidated within the new V2 pool and steps will be taken to ensure this does not produce substantial liquidity fragmentation.
A link to our published tokenomics which were widely distributed prior to the token launch can be found here:

A snapshot of the distribution of our token supply at the time of publication and addresses for our treasury wallets follows;

STAGE / AMMT OF TOKENS HELD IN TREASURY / WALLET ADDRESS

MARKET MAKING / 112,225,734 / 0.0.5146087

SEED ROUND / 469,666,568 / 0.0.5159137

COMMUNITY ROUND / 70,134,000 / 0.0.5159223

REWARDS POOL / 4,975,040,518 / 0.0.5159277

TEAM / 200,000,001 / 0.0.5163895

ADVISORS / 100,000,001 / 0.0.5165040

MARKETING & DEVELOPMENT / 1,000,000,001 / 0.0.5165173

TREASURY / 2,823,333,334 / 0.0.5165724

TOTAL (TOKENS IN TREASURY) 9,750,400,157 / 10,000,000,000 (FIXED SUPPLY)

Abstract:

The new V2 HBAR/VRJAM (BLUE) pool will utilize SaucerSwap V2’s concentrated liquidity features, offering better returns for LPs, increased liquidity, and TVL. Due to the fact that Saucerswap is the sole and exclusive trading venue for VRJAM (BLUE), this is required to empower the project to activate new liquidity providers who will invest in the pool to support the roll-out of the project’s r’s new b2b subscription service, AiJAM.

AiJAM empowers brands to render interactive AI-powered 3D characters on websites and in apps using a turnkey service available via the project’s web platform. Users can test the product by engaging with the 3D avatar displayed in the lower right corner of the project’s website.

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Customers who use the service may pay for subscriptions and data charges using credit or debit card or using the project’s HTS token, VRJAM (BLUE), whereby the client’s monthly subscription is deducted from their VRJAM (BLUE) wallet balance.

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The project has engaged a liquidity provider who will invest in VRJAM (BLUE) pools on Saucerswap to provide the necessary liquidity to allow the token to be made available to subscribers at scale, however the liquidity provider will not invest in V1 pool as they require access to the ‘concentrated liquidity’ technology available via Saucerswap V2 pools.

To empower the project to activate this service and to continue growing the value and liquidity profile of the VRJAM (BLUE) token, access to V2 concentrated liquidity technology is required.

Motivation:

To deploy a market leading Hedera-native b2b payment service supporting a highly performant token economy powered by ongoing new money inflows from subscription payments using concentrated liquidity, increases both TVL and liquidity for HBAR/VRJAM (BLUE). In addition, this supports the growth of SaucerSwap and Hedera.

Benefits (Pros):

  • Price Supportive: It can help stabilize token prices.
  • Capital Efficient: Concentrated liquidity pools are more efficient in capital deployment.
  • Yield Opportunities: Increase yield opportunities for liquidity providers.
  • Minimal Slippage: Concentrated pools help to ensure minimal slippage and tighter spreads.
  • Stronger Ecosystem: Integrating the pool with SaucerSwap, Hedera, and VRJAM strengthens the ecosystem, potentially attracting more projects to do the same.
  • Additional LARI rewards totalling $10,000 in value will be provided by the project owners within 14 days of the launch of the V2 pool.

Downside (Cons):

  • Risks: Smart contract risk, increased complexity, and potential user education challenges

Voting:

For: Create the V2_HBAR/VRJAM pool with a 1% fee.

Against: Reject the creation of V2_HBAR/VRJAM pool with a 1% fee.

1 Like
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Hi VRJam team,

When a clients uses a credit/debit card to purchase their subscription will they be interacting with the v2 pool being requested? Are they buying tokens from the pool or from a treasury wallet for the current price in the pool?
Thanks,

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When clients purchase their subscriptions they will be interacting with the V2 pool being requested, whereby a buy order will be created by our subscription smart contract each time a subscription payment is made (ie. monthly).
The iteration of the subscription payment service that is live on our platform now (as in the screen shots shown in the RFC) doesn’t work in this way, it provides tokens from one of our treasury wallets. The reason for this is due to the fact we have not been able to access V2 / concentrated liquidity technology to date.
Our partner LPs will not provide liquidity to a V1 pool due to the downside risks involved in providing broad spectrum liquidity, and as a result the liquidity depth in our current V1 pool is too low to deploy the service described above whereby subscription payments are made by interacting with the Saucerswap pool.
Without access to V2 technology we can’t deploy our subscription payment service as intended which means we can’t continue growing our token economy in line with our business plan. We sincerely hope we can find the support we need amongst the Saucerswap community to help make this happen.

1 Like
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Another traction point I thought worth mentioning in terms of how we’ll acquire new users / subscribers for AiJAM is the fact that the project’s featured in the forthcoming TV series CryptoKnights, which will go to air on a range of TV networks and streaming platforms in the new year. This will create an evergreen marketing platform for VRJAM Blue token and the AiJAM Brand that will reach millions of TV viewers. Link to the AiJAM page on the TV series website below - AiJAM – CryptoKnights

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Hi Sam,
Ok thanks, appreciate the comment about the screenshot being outdated. From that screenshot, I couldn’t tell if there was an alternative web2 process to purchase VRJams services directly with traditional credit card in addition to the VRJam blue token use as fuel.

So, is it fair to say that with approval of the V2 pool and rollout of anticipated functionality, your platforms services will only be available at the free level or require VRJam blue token to purchase elevated service levels?

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Hi Smuggmuggler, the screenshot included in the RFC isn’t outdated, its current. The subscription service we have deployed to date does not interact with our Saucerswap pool to produce buy orders to fulfill subscription payments.
The intended functionality is for our smart contract to automatically produce a buy order for the the necessary amount of VRJAM Blue tokens in the event the token balance their wallet is insufficient and for the funds required to pay for these tokens to be deducted from the user’s credit, debt card or blue chip token balance using Radom Network or Stripe. The slippage and price volatility is too high in our existing V1 pool to use it as means to fulfill subscription payments.
As stated in the RFC our partner LPs are ready to provide the necessary liquidity to allow our Saucerswap pool to be used in this way (which will reduce slippage and price volatility), however they (understandably) won’t invest in a V1 pool due to the downside risks associated with broad spectrum liquidity provision.
As you’ve sated in your message above the intended functionality for our platform is for VRJAM Blue tokens to be the only method of payment available, however again we need access to V2 pools to realise this ambition, at present users can pay with debit or credit card (via Stripe) or with any blue chip crypto (via Radom Network).