Looking forward to see this project be successful. Good work big N.
3 Likes
Smug has so much pontetial, I believe we’ll get to the moon and beyond!
2 Likes
Having been one of the earliest to notice Smug, I think this project has a really good potential to onboard more users to Harmony. I myself was one of them. As someone who never even considered trying Harmony before this, this meme token caught my attention and the effort put in by the Smug community convinced me to come to this part of the crypto world.
Having a committed community and people who rally behind a story-driven and fun token is something really rare, so I think this grant would go a long way towards expanding the Harmony ecosystem.
5 Likes
I do feel like the dev is really driving something that will make harmony better
4 Likes
Just gonna throw my bit of support here. Despite it being a fun token, those have place to be in crypto, including Harmony ecosystem and the dev is legit, has vision with future development (not JUST for the memes) and partnerships and is building strong community. Very unlike other projects (Harmonyan duh) this looks like good potential and possibility to bring traffic and attention to Harmony
E: Not so sure about it after seeing locked rewards, need to follow direction of where this goes
2 Likes
I do not have a vested interest, no reason to pump this. Kind of put off that a grant is required for an audit. The team is small. A single developer who codes/implements and checks his own work is not ideal, also a single point of failure. And why must it be another Shiba/dog token…
A good meme/shit coin would certainly drive traffic to Harmony but I have reservations that this is the one with a great pull factor. Good luck with the project.
2 Likes
The proposal is straight to the point with a clear roadmap. Hope the Team will be awarded the grant for the growth of Harmony and Smug. All the best!
2 Likes
Having a Meme platform on Harmony like SmugDog could be very beneficial to Harmony if it is assumed the platform continued to evolve at a breakneck speed.
The fact that it is a meme platform removes the possible catastrophe outcomes that would be present if such dramatic implementation of new features were attempted directly by a blue chip cryptocurrency:
I.e. to make sure ONE’s reputation and value are not ruined by botching the Lauch of the BTC bridge there is careful planning, and unbelievable testing before launch.
Take that same kind of code: a BTC bridge.
If SMUG wants to launch something similar and SENDS that shit - strait to mainnet as function of a meme coin dex - Smug does so knowing that if it isn’t perfect they are not destroying the future of crypto ($ONE/the entire Harmony platform), but also knowing that if they hit a home run and build a platform with enough user friendly functionality… users will come.
If anything I would think of SMUG as a better than testnet playground where your successes and failures can pay big dividends for early adopters who are helping push everything Harmony is doing forward - just faster.
3 Likes
Thank you for your detailed reply, and happy to see so much engagement from the community in this proposal.
Thanks for clarifying that you launched on Mainnet as well.
In regards to your product, I understand there’s features remaining to be built? If that’s the case, we would have to follow the steps of the Launch Grant guidelines, where the product is built to be feature-complete (with IFO platform, DEX & LP features) in order for the first milestone to be reached and the funds released.
Then, we’d continue with the next step, and so on. Here’s a quick recap:
500 Launches ($20M). Applications of each launch must have prototyped a feature-full product. Harmony helps incubate these founding teams with product development, fundraising, and talent recruit. We recommend a $50K equity-free contribution each:
$10K after launching a feature-complete product on our testnet
$10K after forming a DAO with 5-out-of-9 multisig with our DAOs
$10K after launching on our mainnet with audit $10K after 1K daily active users (with launch video, full PR promotion)
$10K after 10k daily active users (with a detailed roadmap, governance process)
Let me know if this would work for you, and we can move on with the proposal.
Lastly, please review the Metrics for Success I picked up from your reply, so that we refine and finalize them.
Metrics for Success:
- 200k TVL (LP SMUG-ONE tokens) by Jan 1 2022
- 400k TVL (LP SMUG-ONE tokens) by March 1st 2022
- (please define a realistic number of IFOs to be reached by a given date)
- (please define the number of the 10000 SMUG holders by given date(s) to be achieved. Also, I assume this is on mainnet)
4 Likes
Hi, I’m curious as to whether there is any post mortem on what may have happened to the DEX launch?
I recall there being an error in the code allowing individuals to overdraw liquidity pool tokens on what was on BabySMUG?
2 Likes
Hi guys, again, want to say a huge thanks for the support.
Let’s start with the ‘bad news’ so to speak.
Like @nicholastan said, there was a DEX launch that was kind of in beta, and at the time, due to the migration of SMUG to BABYSMUG (via a simple pool, rather than a migrate button, which was an oversight on my part), and the fact that SMUG was part of the pools, it broke the UI, and there was a bug related to the
parts, as one of the devs in the Harmony community alerted me to. (big thanks to another receiver of the Harmony grant, Cryptina, who had helped out with that, albeit a bit late, still, it was instrumental).
This has since been rectified and the upcoming DEX launch will proceed by the end of the year. Given market instabilities and the fact that there was a bit of an issue in communication, the above mentioned bugs did cause somewhat of a ‘bank run’ on the smugswap, which ended up locking some of the users’ LP tokens. However, we’ve since then shut down the reward streams, and had everyone affected by the bug fill out a form so that an airdrop (one of many), can be sent out and partially reimburse the users of the DEX which had been released with these bugs in place.
Nothing was rugged, no funds are missing, there was just a bit of a sell off, and then a recovery. The user base has grown since then to about 800 smuggies, Twitter is at about 700 followers (completely organic, can prove), and, to make things even better, we’re a hair closer to 200k USD TVL of LP SMUG-ONE tokens (first metric) posted by @gabby (was reached actually on November 17). Again, I have to underscore, this is community-owned liquidity, permanently locked, verifiable on the blockchain via the contract tab.
The fact we are here to stay can also be verified here - Harmony Daily on Twitter: “Price Performance of Project on Harmony Ecosystem last 24h @smugdoge @DefiKingdoms @IkuraToken @VenomDAO @Paradisefi_io @thecosmicguild @harmonyprotocol @VenomDAO @token_jenny @KuroShibaONE #HarmonyONE https://t.co/FnCvu09PIw” / Twitter people’s faith in this project is a bit shaken, but still as solid as it was in the beginning, and SMUG can get to where it’s headed very easily, especially with the fans and OG smuggies that we have working around the clock making sure everything is taken care of. From a pet project, it’s really evolved to almost a business, with its own set of marketers, managers, artists/memers, and even a coder that did his own custom API for CG tracking.
To answer the question @gabby had, the IFO platform will relaunch using the PCS v2 toolkit, and a migration tab for SMUG, rather than having BABYSMUG be bought with SMUG as was the case in the previous launch, and then everything should be working stellar. Furthermore, there’s added benefits in having the PCS UI, as the IFO platform and auctioning can be adapted much more easily.
I agree with your metrics, and we’re at around 1000 holders right now on SMUG. So I can definitely say that there’s going to be an influx of new users once Rubic integration hits mainnet Harmony, as they will be able to buy SMUG with anything, really. 3000 holders by March 25th 2022, seems more than doable (you can check for yourself if this is in the higher or lower range of average holders of tokens on Harmony).
Thanks in advance!
14 Likes
This project has been solid from the beginning. Unity is the key feature of the group. Everyone wants to have fun in group. The whole point of SmugDoge is to have fun among Doglovers! Love the unique name! Utilities are being developed behind the door. OG smuggies are a big help to Dev! This is bound to grow. There will be a symbiotic relationship between Harmony and SmugDoge. We need 1 good Meme in Harmony to bring the influx. Now what that one harmony meme will be, we don’t know but SmugDoge is definitely working hard and this is what I like about this group!
6 Likes
I’m really impressed by the developer and the team of volunteers who took the time to rectify their mistakes to build and gain back trust in the community.
In Defi, lots of things don’t go perfect but the fact the developer, Nenkov, showed how sincere his belief in for the project, in addition to, the communities effort to go above and beyond, its so impressive.
That’s why this project is such a good investment and will bring a lot of power and value to Harmony. The dedication is unbelievable.
3 Likes
I bought Shib and it sucked, found smugdoge on harmony, where I’m already staking and thought why not, low fees, low price, definitely a gem. Shit went down with the dex but Nenkov has been transparent and has shown dedication to his project, he could have run but admitted to his fk up and is working hard to make things right. He is a one man team but has support from the community which is really nice. If there was a meme coin to bring harmony to the masses THIS IS IT.
4 Likes
Sometimes the measure of someone is not how they behave when a mistake is made (as we can all do that), but how they respond to it. The dev has shown true character here, he has not shirked any responsibility, has admitted there was an error and is rectifying it. This shows resilience, strength and fortitude - characteristics that are noteworthy
6 Likes
Go…go…go…#smug i love it.
2 Likes
Curious to know if there is any update?
2 Likes
Hi @Nenkov.one , thank you for your in-depth clarification and updates, it’s very much appreciated.
It appears that launching the feature-full product on testnet will indeed be necessary (and part of the grant process, anyway).
Let’s switch gears and move closer to approving this proposal:
Would you be willing to accept the terms and guidelines of the Launch outlined below, accomplish each milestone and providing updates to the community?
500 Launches ($20M). Applications of each launch must have prototyped a feature-full product. Harmony helps incubate these founding teams with product development, fundraising, and talent recruit. We recommend a $50K equity-free contribution each:
$10K after launching a feature-complete product on our testnet
$10K after forming a DAO with 5-out-of-9 multisig with our DAOs
$10K after launching on our mainnet with audit
$10K after 1K daily active users (with launch video, full PR promotion)
$10K after 10k daily active users (with a detailed roadmap, governance process)
If yes, we can move to the next step.
6 Likes
The answer is a sure and resounding yes.
2 Likes
What bug??? what Beta? It launched on mainnet lol As far as the “bug”. To quote 0xViper who touched on this subject before on reddit:
"This is not the first time I’m seeing the DEX issue being blamed as a “bug” and an attempt at throwing shade at the original contracts (Smug forked Loot which is a fork of Viper).
The contracts weren’t originally designed to be used with tax/reflexive tokens - but they do work with them, if you know what you’re doing.
If you decide to use the contracts with tax/reflexive tokens it’s extremely important that you exclude the relevant contracts (e.g. the MasterChef/MasterBreeder contract) from the transfer tax.
This is something the developer for some very weird reason decided not to do."
That’s a screwup that would and should have been figured out if ya did a proper run on the testnet. Why didn’t you? According to another reddit thread because your community wanted to start farming. Excuse me but what??? You rush the launch of a dex because some people on Discord wanted to start earning rewards??? dafuq… . That just doesn’t make any sense to me at all.
2 Likes