BiT_SHaMaN | TGH
Welcome!Our AMA was initially planned to happen earlier this year, but due to certain events we had to postpone it. More on it later but first let’s start of as usual with an introduction of what the project is all about?
Señor Cheeks
Sure! So Nirvana DeFi is an emerging ecosystem of tokens all built around our primary token, $VANA. On a macro scale, this project is about refining the elements of DeFi and crypto that have been successful and molding them into a self-sustaining machine which allows our investors to garner exposure accross different sectors and markets. Our basic business plan is to continually release new tokens which support $VANA and the other tokens in the ecosystem. It is meant to prevent the fate to which we have seen so many young projects fail-the death of hype and demand. Our goal is to ensure that $VANA never loses relevance because we will continually adapt to market demands in the new tokens we release to support it.
BiT_SHaMaN | TGH
Who’s the team behind VANA and what are your backgrounds and is there an story how you met each other?
Señor Cheeks
Yep! So my partner (Kasper Brian, he is AFK right now) have known eachother since last May or June. We met through Telegram. I am the “CEO” and he is the “COO.” Originally, $VANA was started by 19 people who wanted to launch a token with some decent liquidity but that would be accessible to the public without any one person controlling a disproportionate amount of the supply. So the 19 of us provided 1 eth in liquidity and then did a group buy around .10 cents. The buy was then split between the 19 of us. As time went on, some people were more clearly committed to the project than others, and just about all of the other 19 besides Kasper and I sold. The two of us then formed a new team based on who we percieved as most committed to the project from the telegram community.
I personally am a law student in my last semester of school, after which I will be a practicing securities attorney.
BiT_SHaMaN | TGH
Hell of a story!
Señor Cheeks
Haha! No i don’t perceive as betrayal (maybe I did before, but not anymore). people are free to come and go with their money as they please. Just sucks for them, because we are doing much better in price now than when they sold.
Pandah Sama | TGH
So, the initial launch of your ecosystem addition $BLISS didn’t go as expected. What happened on the launch?
Señor Cheeks
This might be the biggest understatement of 2021 so far. So we had a ton of hype going into the $BLISS presale. We raised 300 $ETH in a matter of 1.5 hours, and we launched at one of the least market-friendly times possible (3 am my time). Our original plan was to use 115 $ETH for liquidity, 115 $ETH for $VANA buybacks, and then use the remainder to pay the dev and fund our past and future marketing (all marketing up to that point had come straight out of my and Kasper’s pockets).
So we launched immediately following the presale and locked 115 ETH in liquidity. Almost immediately, there were reports of people selling their $BLISS and receiving no $ETH in return. We thought it was FUD at first, but then people began posting their etherscan transactions. It was true-they were getting front run by a bot, who was diverting their Eth to another wallet and providing them with “Chi Gas Tokens” from 1inch. So we told people to stop selling, as to not feed the bot.
And then people told us there was $BLISS disappearing out of their wallets with them making any trades at all. Someone had exploited an error our dev left in the code of the $BLISS token contract and was stealing people’s funds.
It all lasted about an hour, and then it was over. The bot had drained all of our locked liquidity, and we had a telegram full of people who were absolutely convinced that we had scammed them.
It was easily the worst experience of my entire life. If you have never been responsible for 100’s of people losing tons of money, I wouldn’t wish it on you. Truly heartbreaking.
I have so much riding on my integrity and honesty in this space-the fact that people genuinely thought I or Kasper would ever take money from them was awful.
BiT_SHaMaN | TGH
Thanks for clearing that up.
Señor Cheeks
So we obviously had to do some damage control.
BiT_SHaMaN | TGH
What steps did you take after the failed launch of $BLISS and where do we stand now?
Señor Cheeks
Thankfully, we had the 115 ETH reserved for $VANA buybacks, as well as our money set aside for marketing and the dev. So one of our team members made up a Refund form. $BLISS investors were given the choice of whether they wanted a partial refund of their investment in $ETH (as full refunds were infeasible, since 115 $ETH in liquidity was gone forever) or if they wished to stick with us for $BLISS v2. About 73% of people opted for the refund, with around 340 $ETH being the final number requested — because we refunded Uniswap buyers as well as presale. So we figured out we could do a 50% refund and refunded around 170 $ETH. This left us with a little less than 30 $ETH to work with for relaunching $BLISS v2.
Pandah Sama | TGH
Must have been a stressful time for all of you!
Señor Cheeks Now, we are moving forward with $BLISS v2 by working with our friends at Deflct. $BLISS v2 will relaunch as an LGE through their platform. We chose an LGE to help inspire investor confidence in our team and project again. We are also having $BLISS audited by WoR and Omniscia to help ensure those who choose to invest are secure in doing so.
Pandah Sama | TGH
I’m sure they trust you after this. Yea people lost money but overall that definitely speaks for you imo. You could’ve been gone with 250k but you sticked around and refunded people.
BiT_SHaMaN | TGH
Before we move on could you give us the current tokenomics for $VANA & $BLISS please?
Señor Cheeks
$VANA is a fork of $VAULTZ. It works by applying a 6% fee to all transactions. 3% of that fee is added to the contract’s permanently locked liquidity. The other 3% is distributed to $VANA holders proportional to their stack. It has a max and circulating supply of 800,000, and its contract has been ownership renounced. We think it is the perfect token around which to build an ecosystem because of the liquidity dynamic. The more demand for $VANA, the higher the liquidity gets, the more attractive the entire ecosystem becomes for larger investors.
BiT_SHaMaN | TGH
First time i’ve seen an ecosystem like this, i like it.
Señor Cheeks
$BLISS can be paired with $VANA to farm $wBTC. This brings us back to what I was discussing regarding our ecosystem’s goals. $BLISS is meant to allow participants in our ecosystem to gain Bitcoin exposure while still continuing to play the Uniswap game we all love. It works by applying a 5% fee on all $BLISS transactions, which will be used to market buy $wBTC, which will then be distributed to $VANA/$BLISS LP Stakers. So the amount of $wBTC yielded to our stakers is entirely dependent on volume, not price action. I’m sure you guys heard about pbtc35a (another token which generates bitcoin), which did $38 million in volume its first day. For perspective, if we did even 1/10th of that and did $3.8 million in volume, our stakers would split 5.4 BTC between them, or $190,000.Just by buying and staking.It will have a 432,000 total supply.
Pandah Sama | TGH
That’s a really good idea.So you’ve already kinda answered the next question I was about to ask but maybe you can elaborate a bit further. Let’s talk about about your ecosystem. What is actually the role of $BLISS in it and what’s the usecase of the token.
Señor Cheeks
Right, so for NOW the primary role of $BLISS is to be paired with $VANA to farm $wBTC. But our next token (and I’ll drop this name exclusively here, haven’t said this anywhere yet) $PEACE, will incentivize providing $BLISS/$ETH liquidity. Which will be very attractive for those who participate in our LGE, as they will recieve $BLISS/$ETH LP (in addition to $BLISS/$VANA and $BLISS/Deflct) tokens. So they will be able to use those LP Tokens they recieve to begin farming $PEACE. I don’t want to say more on that token yet since we are still working out most of the other details, but I thought it would be worth mentioning that we’ve already figured out how to continually add value to the second token in our ecosystem.
Jason Berlin
Lots of potential for big partnerships.
Pandah Sama | TGH
Oh finally a TGH exclusive! Been a few weeks since we had our last one.Before we leave this area of discussion though I’d like to point something else out.Judging by your banner it seems like VANA is the core of your ecosystem. Will VANA holders benefit from additions to your ecosystem?
Señor Cheeks
While we are running an LGE for $BLISS (as it just didn’t feel right to do another presale given v1’s exploit), the rest of our tokens will follow the traditionl Presale format. Those who hold 500 or more $VANA will have early access to those presales at a discounted rate. Additionally, all of our future presales will have a set and substantial allocation for $VANA buybacks (as I mentioned before, $BLISS was meant to provide 115 ETH in $VANA buybacks). But beyond all of that, our tokens will be designed to bring value to $VANA itself. For example, some of our future tokens will be paired with $VANA rather than $ETH, so that all trading of those tokens will mean volume being pumped back into $VANA (and thereofre, value being pumped into its liquidity and holders).
Pandah Sama | TGH
I like that! Especially the last part is nicely thought through
Jason Berlin
Imagine the entire ecosystem and every transaction rewarding holders and INCREASING LIQUIDITY.Did y’all mention staking $VANA requires ZERO gas fees?!- No gas fee to stake- no gas fee to claimIt’s all INSTANTLY sent to your metamask.For $VANA
Pandah Sama | TGH
A BLESSING in times like these! The banner also hints that we might have more additions coming into your ecosystem quite soon. Can you give some details on the upcoming plans and how it’s all supposed to work together? (I’ve made that question obviously before you mentioned $PEACE)
Señor Cheeks
Yeah so $PEACE is a great example. But it is by no means the be all end all. We plan on allowing our investors to garner exposure to all crypto markets. So, $BLISS is our Bitcoin exposure. $PEACE for those who like to farm. Another will help give $DOT exposure. $ETH. You name it, we are going to build it, and make sure our investors don’t miss out on any of the areas they need or want to be exposed to during this historic bull run.
With our entire focus being that the exposure they garner is attractive, so that demand for $VANA continues to pervade.
Pandah Sama | TGH
Great idea!
Kasper Brian
u/mrjberlin has some plans to utilize VANA in establishing partnerships in new innovative ways that again bring value back to VANA.
Jason Berlin
$VANA- liquidity is locked, and GROWS- no mint function- no team tokens- all 800,000 tokens are in circulation- contract has been renounced, ownerless Yes, there will be a huge use case for $VANA for something that has never been done before. So I’m personally excited for it.
Pandah Sama | TGH
So, a real community project.What would you say is like THE end goal for your ecosystem as a whole? Where would you like to see it heading?
Jason Berlin
Getting some stuff ready. Will be adding some TGH and $VANA surprises.
Señor Cheeks
Our business model is basically a reaction to the current market conditions of DeFi.
Everyone is striving to come up with the next great, big ground shaking idea. But no one has actually tried to make any of the already incredible ideas that have been created work together in a cohesive and rapidly evolving ecosystem.
We’ve seen some unbelievable concepts pop up in the last 11 months or so. Yield farming. Rebasing. Frictionless yield. Vaults.
What if they all worked together, within an ecosystem you can trust? And what if that ecosystem was not only complimentary, but also allowed you to get exposure to mid and large cap cryptos that participating in Uniswap usually prohibits?
That is what $VANA is. A chance to experience the best of the best or DeFi, without concern of being rugged.
Our team has been around DeFi since it’s inception. We’ve seen whats worked and what hasn’t.
Our team is going to create an ecosystem of tokens that compliment eachother and ensure that investing in $VANA at this price will be one of the best moves they could have made. We will continually partner and integrate with other projects (we already have 3 lined up) to encourage their participation in our partnership projects. We will tap into other communities to introduce them to the benefits of working with us.
Our end goal is to build a better DeFi. Full stop. With integrity, honesty, and accountability, our team is going to reimagine this space and help everybody make it.
Kasper Brian
And this is why he’s the CEO.
Señor Cheeks
And my community is reminding me that I have failed to mention that WoR has already audited $VANA so there is little concern for future fud of your investment.
Jason Berlin
Great interview with Nick and u/SenorSatoshi. I highly suggest everyone watch as part of their research into $VANA.
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