Txbit Coin on of the Month: Social token: DYT, DoYourTip
Once per month, we pick a project to inform our customers about the projects we list on our exchange. The second Coin of the Month is DoYourTip (DYT).
Can you introduce us a bit to DYT? How did the idea come about?
That’s a long story and kinda difficult to keep short. We met in Telegram in early 2019, became friends, started a business, and have registered our company now in early 2021. Here’s the long story: https://link.medium.com/am7gvjHa9db
Can you give us some details about the economics behind DoYourTip? What is the current supply? Is there a form of inflation?
There is a 2% burning in every transaction, can you tell more about this? The current supply is: 1,455,390 DYT burns 2% in on-chain transactions, but we whitelist exchanges and Uniswap addresses to prevent that burn and losses for the CEX. It means, every time you move from wallets to CEX, DEX, dApps, or other wallets, will be a 2% burn rate.
As we can read on your website: “We distribute a maximum of 2,500 DYT per week to the community in various actions and bonus programs.” Where can users join those bonus programs and actions?
- We do some daily actions, most of them tipping “off-chain” in our telegram group like games, trivias, contests etc.
- We have a Uniswap program reward for our liquidity providers, that is 48% APY, LP get a 4% of their pooled tokens monthly.
- Take note that 100,000 tokens from the distribution went for the Tipply Tank game prize pool.
We also found Tipply Bot, a tipping bot in Telegram. How does this work? Tipply bot has several functions
- Tipping: TB supports ERC20 tokens, ERC1155 assets, and Phantasma chain tokens and NFTs. You can send tokens or NFT in one click replying to a message from the receiver. The bot must be whitelisted before it can be used in telegram groups.
- Apps: Tipply Tank: It shows general and personal stats from the Tipply tank game.
- Gas checker: Tracks the gwei in real-time.
- Tipply burner: It burns DYT from your balance in easy steps.
- Jacuzzi: Is a Uniswap traders tool, in order to use it you must own a Jacuzzi FT asset in your wallet and it’s binded to your TG account. Jacuzzi gives you access to a private group where you can track Uniswap trades from the configured tokens. Jacuzzi also has up to 10 price alerts you can set up from the listed tokens.
Can you tell us a bit about Tipply tank? How did the idea came about? We have read that you can breed, freed, and grow your own unique fish named Tipply, how does that work? How can you buy a Tipply? How do you earn DYT with Tipply? Can you sell your Tipply?
The idea is basically a Tamagotchi for the new generations, idea came from the main team in a brainstorm meeting where we wanted to give a use case for the token. You need to deposit from your private wallet to the in-game wallet some funds, it can be DYT, ENJ, and ETH. Then you are able to buy an egg and hatch your first Tipply. You need to buy food and take care of your pet since it lose energy every hour and it depends from it age, baby will lose less energy than an adult Tipply. Your Tipply must be up to 70% at 00:00 UTC to increase its level. There are and will be many ways to earn more DYT:
- Founder Token: Owners of this FT will get 0.1% of the total revenue in the game.
- 90% from the revenue goes to the prize pool and the other 10% goes to the FT owners.
- When a player reach level 100 will get a share from the prize pool, at the beginning will be .5% from the total PP and it will be adjusted in 0.05% when more players achieve the first goal.
- The game has the ENJ mint function in it, you can mint your tipply and sell it in the marketplace. There are millions of unique Tipplys and 6 different styles. Special styles must be required for other ENJ games collaborations. So basically there will be a market for rarest Tipplys.
What new developments that we can expect for Tipply and DYT in the coming time?
We are currently working on a crosschain option for the token in partnership with Phantasmachain. TipplyTank will have some updates this year including better visuals, animations, and big updates in the game dynamic we can’t share right now.
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