RFC - Create V2 Pool for HBAR/VRJAM (BLUE) 0.30%

Request for Comment
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Title: RFC - Create V2 Pool for HBAR/VRJAM (BLUE) 0.30%
Author(s): Sam Speaight & RealityJam Team
SaucerSwap Voting Interface: N/A
Related Discussions: N/A
Submission Date: 20.11.2024

Summary:

We propose the creation of a V2_HBAR/VRJAM (BLUE) pool with a 0.30% fee tier on SaucerSwap to support the effective roll-out of the token issuer’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 token issuer’s subscription service comes to market

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 token issuer to activate new liquidity providers who will invest in the pool to support the roll-out of the token issuer’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 token issuer’s web platform. Users can test the product by engaging with the 3D avatar displayed in the lower right corner of token issuer’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 token issuer 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 without access to concentrated liquidity available via Saucerswap v2 (Uniswap v3) pools.

To empower the token issuer to activate this service and to continue growing the value and liquidity profile of the VRJAM (BLUE) token, access to Saucerswap 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.

Downside (Cons)

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

Voting

For: Create the V2_HBAR/VRJAM pool with a 0.30% fee.

Against: Request revisions for further refinement.

3 Likes
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I support VRJAM AIJAM and demand its opening.

2 Likes
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This can only benefit VRJAM and help expand liquidity growth. I will vote yes.

2 Likes
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I support the vrjam application this will be good for growth of the hedera network saucer swap and also vrjam. The more projects that promotes the hedera network and saucer swap the better we should always support and create v2 pools for these projects.

1 Like
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For me, as a VRJAM investor, I 100% support the request for a V2 pool. it will help mitigate slippage by providing ample liquidity for trades, resulting in minimal price impact and will privide more flexibility and accessibility to a wider range of investors, which can only value-add to both Herdera and VRJAM. It also opens up the opportunity for additional rewards for investors, which is a positive at every level.

1 Like
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Has there been any follow up to this?

https://www.reddit.com/r/Hedera/comments/1bqpwuv/more_on_vrjam_fiasco/

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Hi Hakan,

Thank you for your kind words and for being with us!

1 Like
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Thank you, Michi! Your support and vote mean a lot to us. We’re excited about the opportunity to expand liquidity growth and create even more value for the community.

2 Likes
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I’d like to see the pool request conform to the SaucerSwap documentation guidelines for highly volatile pairs and update the proposal to include the 1% fee tier so the LP can be appropriately compensated for the risk

1 Like
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Hello i dont believe this is the right forum for the link you have posted. As an investor of VRJAM i encourage you to raise it by dm with the project please. Thankyou

1 Like
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Hi SmuggMuggler,

Thanks for input, greatly appreciated. A member of our team will reach out on Discord on Monday to discuss this proposal, great idea BTW!

1 Like
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It was a public post about a public event in which many people were impacted, either financially or disdained from the token & project entirely. You might believe its not appropriate to ask about the events in such a public manner, but I respectfully disagree.

As an investor, I would think it would be in your best interest to get as many people on board for any project proposal’s to succeed, which would include clearing the air on past events that publicly impacted many.

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Thanks for raising this matter H-Barabara, we’re glad you did so.

When we launched the VRJAM(BLUE) token, public sentiment about the actions we took around our launch to take down a sniping attack that we suffered at the moment we began trading on Saucerswap got out of control.

At the time several of the most senior voices in the community stated loudly and publicly that our team acted honestly and that there was no malicious activity from our side, as is clear from the on-chain data.

The voices who publicly supported us and (repeatedly) confirmed our good intent included Shayne Higdon, Co-Founder & CEO of the HBAR Foundation, Brandon from HBAR Bull one of the most respected KOLs in our community and Tudor Holotescu the CEO of Headstarter which is the leading launchpad on Hedera.

Some members of the community simply misunderstood what happened around our launch and this led to a case of ‘Chinese whispers’ in some circles of the community.

Even Silkswap Defi (who were initially one of the most vocal voices alleging wrong-doing following our launch) ultimately stated publicly that on closer examination they felt we acted reasonably after Brandon from HBAR Bull came to our defence.

We are 100% committed to transparency and are here to answer your questions. We value your feedback regarding our proposal here on Saucerswap and our recent developments. Please feel free to share your thoughts and concerns, and we’ll be glad to address them.

3 Likes
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Yes i agree about having issues cleared up in public is fine. But definitely in a more appropriate space which this is not. I am a brand new investor of VRJAM and know nothing of this history. All you are doing is shining the light on you and hurting my investment which i do not appreciate. Please take this to the VRJAM chat rooms

2 Likes
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Thank you so much for your support, Mattya! We’re thrilled to hear your enthusiasm for VRJAM and its potential to contribute to the growth of the Hedera network and SaucerSwap. We couldn’t agree more, collaborating and supporting projects like ours strengthens the entire ecosystem. Your backing means a lot to us, and we’re committed to delivering value for the community.

2 Likes
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You’re welcome, VRJAM is ours, of course I will support it.

Thomas - VRJAM via SaucerSwap <notifications@saucerswap.discoursemail.com>, 22 Kas 2024 Cum, 20:06 tarihinde şunu yazdı:

2 Likes
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Hey Team, I went to look for tokenomics on your website and had trouble finding them. Are they available to share? Thanks,

1 Like
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Hi, of course.

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It seems you have disagreements with how Sam from VRJam is choosing to handle things, in which case you should bring up your issues with Sam.

Thank you for acknowledging. It does take humility to openly admit gaps in knowledge. And that’s okay. A community is stronger when we help each other learn.

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Thank you for replying in a respectful manner.

I will say in fairness, the tactics used (from my understanding) is not unheard of. I have heard of some “Market Maker” tactics to fend off bots that look for new tokens in newly created liquidity pools, so I think it quite similar.

I’ll try to be sure to ask around. But I don’t think any of them would be pick up the phone when I call them anytime soon. Definitely not Higdon since he did step down from CEO position following the “Blackrock” tweet.

Since you mentioned they publicly supported you repeatedly and confirmed good intentions, could you link to where they had supported you? If it’s dated several months ago, that be nice. Ideally somewhere that doesn’t require an account to view (something like Twitter for example). Hedera users are very diligent and usually don’t take “trust me” as sources. Not that I have reason to believe you’d lie, but being able to verify claims is very important.

Now I will ask, and probably a question for Thomas, what was meant by “Just give us time … to settle everything and work together with SaucerSwap and announce everything”? I did ask about the SaucerSwap specific line and Nube did had a comment on the Reddit post, but could you give the community some colour as to what was meant?

Which is why I wanted to take the opportunity to help clear the air and have an updated understanding of the events in the past, and to be able to forge new connections with people. A proposal would have a better chance of passing with a greater coalition. You have reached out the SaucerSwap community for this RFC. And I would think being able to reach out to as mainly people would be beneficial for the project itself and the ecosystem as a whole.

In fact, I’m trying to get more participants in the governance forums to be more involved. SmuggMuggler did had the question about proposal in concerns to fee tiers on Discord, and I suggested to make an account and comment here.

I appreciate the openness of the response and wiliness to engage with the concerns I had. I have seen few deflect and go on about the project (or worst, attack the person with questions), which is very toxic. I hope once everything is cleared, you’d make a Reddit post about everything what was discussed here (and I’ll try to ask the mods to enforce some civility decorum. Something like “When making comments please address the issues that had been laid out, and not just say VRScam”).

So to non-project specific issues. Fee tier is definitely one, but that is scheduled to be addressed later.

Another thing that’s worth mentioning is the data infrastructure cost associated with Liquidity Pools on Hedera. It would be nice if Hedera had subgraphs so the platform didn’t have to host all the data, but I was told be Nube to not worry too much about the data costs. Between him and the backend optimizations of LARI 300 in the works, I probably think it wouldn’t be too substantive of an objection.

Finally, the issue of liquidity fragmentation, which ideally the project team has worked out and the community would be in favor of, but for the sake of openness and transparency, I should ask anyways. How will the project team initialize the liquidity for the V2 pool? Would there be any LP locks? What happens to the liquidity in the V1 pool? Would there be a migration of liquidity of time, at once, or not at all?