Alpaca Finance - Alpaca News

Grazing Range Pool#51 — Welcoming BTH

Dear alpacas,

We senior alpacas are excited to welcome our newest addition to the range — Bit Hotel!

All you young alpacas will be able to earn $93k USD in BTH rewards by staking ALPACA in the governance vault, which will be distributed over 8 weeks. The pool will go live on May 12th, 2022. As usual for a Grazing Range pool, you will also have a chance to earn exclusive NFTs if you meet the staking criteria.

A leveraged yield farming pool for BTH may be supported in the future if it meets the minimum liquidity requirements.

Total Rewards: 3,000,000 BTH(~$93k USD)

BTH Token: 0x57bc18f6177cdaffb34ace048745bc913a1b1b54

Rewards Period: 8 weeks

Rewards Start Date: May 12th, 2022

Rewards End Date: July 7th, 2022

Distribution Schedule:

1*Il3XwPobooSNk0ipewO2Jw

To be eligible, you must stake ALPACA in the governance vault during the first 4 weeks of the Grazing Range campaign starting from before May 12th 00.01 UTC until at least June 9th. The NFT tier you receive will be based on the amount of your xALPACA balance during that entire period. (Since xALPACA balance naturally decreases over time, make sure to watch yours)

  • Green Tier: held at least 500 xALPACA
  • Silver Tier: held at least 5,000 xALPACA
  • Gold Tier: held at least 50,000 xALPACA

Bit Hotel is a Social-first Play2Earn NFT Gaming Metaverse, in which users can compete to earn Bit Hotel tokens and acquire native NFTs. These NFTs have in-game usability and consist of characters, hotel rooms, furniture and other assets that have their own perks. With over 400k Hotel Guests waiting to get playing, this nostalgic Hotel metaverse will take people back to their 8bit upbringing.

Have the contracts been audited by professional auditing firms?
All our contracts have been audited by professional auditing firms such as Solidity Finance and Haechi.

What is the project’s inception date?
The project was launched on 21st of September, 2022.

Has your project even been involved with a hack of exploit?
No, we have never been hacked or exploited.

What safety measures are in place to secure your protocols from centralization risk? What contracts are not under timelock? Who has multi-sig?
We use a (2/3) multi-sig wallet to store our funds. We have three signers for this wallet, the two ledgers of the founders of Bithotel.io are the signers, and there is one backup ledger stored somewhere secret. In the coming month we are going to transfer the ownership from the token contract to the same Gnosis multi-sig wallet.

Does your token have a maximum supply cap?
Yes, the maximum supply cap for Bit Hotel is 1,000,000,000.

Mint function. If Token does not have maximum supply, how is the mint function controlled?
N/A

Centralized treasury. If the protocol collects fees, where do they go and how are they controlled? Is there any kind of treasury or insurance fund under centralized control?
N/A

Migration Function. Is there a migration function in the code? Why is this there and how to control this function from making a malicious action?
No, there is no Migration Function in our code.

Upgradeable contracts. Are the contracts upgradeable? Why is this there and how to control this function from making a malicious action?
The token contract is not upgradeable.

Third-party risk. What underlying external parties do your contracts rely on?
We use the openzepplin library for our token, but we are not dependent on external parties to maintain or control our smart contracts.

Where are tokens currently listed?
We are listed on PancakeSwap and MEXC.

Please briefly describe the utility of your tokens and all the relevant tokenomics (e.g., burn, staking, locking, etc.)
$BTH is the token used for trading our NFTs on our Marketplace and buying NFTs on our website. We also have a staking platform which is based on NFT boosts. The higher the rarity of the NFT, the higher the staking rewards.

Does your token have any advanced mechanics such as deflationary/rebase/reflexive?
No, our token doesn’t have such mechanics.

Please share your project’s roadmap
Please see our project’s roadmap here.

What % of the token supply is/will be controlled by the team?
Please see our tokenomics here.

What % of the token supply is controlled by investors? What is the token distribution model?
Please see our tokenomics here.

Please share the profiles of key team members
Here are our key team members together with the links to their linkedin profile:
Mr. Leon Lanen — https://www.linkedin.com/in/leon-lanen-41929980,
Mr. Bram hoogenkamp — https://www.linkedin.com/in/bram-hoogenkamp-a51a40b5,
Mr. Kareem de Vries — https://www.linkedin.com/in/kareemdevries

What monitoring or controls do you have in place that could catch issues, functions, or delay attacks to protect assets?
On the smart contract level, we implemented ‘Pausing’ controls to pause interactions with our smart contracts. To catch issues early we set up a bounty test group that searched for bugs and/or exploits.

Do you have a bug bounty program in place/planned?
We have a trusted test group of 200 persons, trying to find bugs in our software. They are rewarded with BTH tokens or USD.

Safety practices. Is there someone dedicated to security on the team? Does your git include your test/QA scripts? Describe your current IS/QA processes? Will you commit to auditing your code at least quarterly/semi-annually/annually and for major updates and releases?
Yes, we have very talented security engineers that used to work on OpenZeppelin standards, this can be verified as well on Git. We run internal tests next to having external auditors do thorough audits. We can commit to quarterly audits as well for SCs that have large TVL and such.

Grazing Range Pool#51 — Welcoming BTH was originally published in
Alpaca Finance
on Medium.

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