Wish Me Luck by USTX Team

TRON Hackathon Hackathon Season 5
1

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Project Name: Wish Me Luck
Project Track: DeFi
Team Name: USTX
Team Member(s): 3, Sirluke, Benna, Aska
HackerEarth Project Link: Wish Me Luck on Hackerearth
Project Goal:
Wish Me Luck is a community project driven by luck. At the heart of the project is the WML token, deployed on Bittorrent chain. Every step of the project deployment will be initiated by users and their luck:

  • Liquidity raising and launch through the first FairLuckPad
  • Luck based token distribution and incentives
  • Buyback and distribution

The project goal is to create the first 1B$ token on BTTC.
The project utility is none, just the fun to break the 1B$ barrier.

Project Value: One of the uses of blockchain tech is about user engagement and fun. WML aim is to bring happy users to BTTC, increasing volume, holders and community participation.
Project Info: Telegram, Presentation video
Project Website: Testnet dApp

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Project Test Instructions:

Requirements for testing:

Go to the Fair Luckpad page and commit some BTT to the token launch. After signing the transaction you’ll see confirmation of the amount pledged and the luck factor (between 100% and 200%), the higher the better. After the launch period ends you will be able to claim the WML tokens, in a fair way (all user are treated equally) depending on the pledged amount and luck factor.

The distribution phase will follow. Every user can contribute to the token distribution by triggering the transactions. The users helping to spread WML will participate to several incentives: instantaneous WML rewards and 3 jackpots (bronze, silver and gold).

Project Details:
WML token will be launched on BTTC. The Wish Me Luck project will have 3 phases:

  • Launch. Users will be able to participate in initial token allocation through the FairLuckPad. Every user decides to commit for a token share and the tokens will be distributed fairly (same base price for all users) after a predetermined period. The difference between a normal fairlaunch is that the user share of tokens will be multiplied by his luck, between 100% and 200%. So a lucky user will get more tokens than a less lucky one. The majority of the liquidity raised will be used to seed a LP in a major BTTC DEX. The rest will be allocated to incentives for distribution.
  • Distribution. The majority of the tokens will be put inside a distribution contract. After launch users will be called to action to distribute the tokens to lucky users. The user action to trigger distribution will be rewarded depending on luck (50% to 150% tbd). 3 jackpots (bronze, silver and gold) will be a further incentive to user engagement in the distribution process. Every distribute action will generate a buyback of WML tokens from the DEX that will go to the distribution pool.
  • Continuous fun. As the distribution share of the token decreases over time (decreasing exponential), the token will have reached a very high market cap. The goal is to pass 1B$. At this point user engagement will continue thanks to the jackpots, pushing the token market cap to new highs.

Smart Contract links (testnet): WML token, WML Fair Luckpad

Smart Contract links (mainnet): WML token

Project Milestones:

  • Oct 1st: smart contracts on testnet (DONE!)
  • Oct 5th: Fair LuckPad live on testnet (DONE)
  • Oct 22nd: Distribution app live on testnet (DONE)
  • Oct 29th: Smart contracts on mainnet (DONE)
  • November: WML launch on FairLuckPad (mainnet) (DONE)
  • November: Distribution app (mainnet) (DONE)
46 Likes
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You are welcome team. Mmmm a community driven project. This is more like memecoin right?

Ready to try my luck, guys wish me luck :grinning:

All the best team

12 Likes
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Welcome to Season 5 wish me luck, kinda amazing the name of the project, don’t you think? Your offering is exciting also, after reading through I see your model incorporates elements of luck and user engagement to incentivize participation and distribution of tokens and the strategy is centered around utilizing liquidity to seed a major DEX and allocating incentives for distribution. The dynamic nature of distribution rewards and the introduction of jackpots adds an element of excitement to sustain user engagement even as the token’s market cap grows.

How does the “Wish Me Luck” plan to address potential issues related to distribution fairness and security?

11 Likes
4

The Wish Me Luck project is a unique and interesting experiment in tokenomics.
It remains to be seen whether or not it will be successful in reaching its goal of a 1 billion dollar market cap, but it is sure to be an entertaining ride along the way.

7 Likes
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We used the words “community project” because the success of the project depends on the users acting on the distribution platform and not on the team working behind the scenes. The team will launch the project and give support after launch, but the project will not rely on team actions to keep going.

6 Likes
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The “luck” factor will be implemented using randomizing seed built from off-chain info (Oracles). This will ensure a “fair” luck for every user. Security will be ensured by careful design of the smart contracts and testing, as we always did with all the other projects developed by our team.

9 Likes
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That’s the idea. Begin a new journey and have fun along the way

1 Like
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and still be based on community actions too. #Bttc has a small community, active members maybe not be up to 500. How are you going to attract more people to your community

4 Likes
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luck can come in various forms so it can be good luck or bad luck, so when wishing someone luck kindly wish the person good luck.

If i read right, as the token distribution continous, the number of tokens to be distributed will also reduce and hence push the price to $1B cap.

What mechanisms are you going to put in place to reach this cap since decrease in supply with any increase in demand (revenue) will not play out well. (I stand to be corrected)

4 Likes
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We’d like to think positively, so we aim at good luck :grinning:

The token distribution will never end (like BTC) but will follow a decreasing exponential function, so it will have a very high rate at the beginning and then decrease over time.

Market cap is defined by circulating tokens multiplied by token price. The circulating tokens will increase as distribution will progress (some lucky users will get free tokens, most won’t) and the price will increase from buyback and user interest in the projects (hopefully). High MC tokens will be visible in market data platforms, like CG and CMC and attract new users.

7 Likes
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Your team never disappoint so all i can wish you guys are good luck :sunglasses:

5 Likes
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Thanks for replying, that was a really short but detailed response.
Implementing a fair “luck” factor using off-chain information through Oracles is a solid approach to ensure an equitable distribution. Security measures such as careful smart contract design and thorough testing are crucial for safeguarding “Wish Me Luck”. I’ve a few more questions;

How does the team plan to select and integrate the Oracles to ensure accurate and unbiased randomness for the luck factor?

Additionally, what auditing processes will be in place to verify the security and integrity of the smart contracts before and after launch?

6 Likes
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Regarding the Oracle selection, BTTC has many to choose from, we have Band, Band and Band. After careful analysis we’ve chose Band as our Oracle. :grinning:

In our crypto journey, started at the beginning of 2021, we’ve learned that most users don’t care much about smart contract audits. We’ve audited our fist smart contracts for the USTX project spending big money and no-one actually cared. All following dApps have been deployed without 3rd party audit. Our coding philosophy is KISS and do as much testing as possible and use standard contract whenever possible. The WML token will be based on Openzeppelin ERC20 plain vanilla contract, for example.

6 Likes
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Thanks for replying in so short a notice once more, really goes to show how you prioritize feedback and community. Moving forward, choosing Band as the Oracle provider makes sense given its reliability and reputation, simplifying the smart contract approach with a KISS philosophy (Keep It Simple, Stupid) and leveraging standard, tested contracts like OpenZeppelin ERC20 is a pragmatic strategy. I’ve a few follow up questions regarding your response;

How does the project plan to communicate this simplicity and reliability to potential users and investors, especially in a market where trust and transparency are highly valued?

Also, have you considered implementing any additional security layers or mechanisms to mitigate potential risks in case of unforeseen events or vulnerabilities?

4 Likes
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About the Oracle I would suggest BAND instead. They seem more reliable :laughing:

I find the idea quite fun but I’m not sure I understand it perfectly so I’ll wait the details to ask questions :pray:t2:

Anyways, fun is a big part of what the crypto community is looking for. The concept could be expanded to other ecosystems as well :+1:

2 Likes
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Do you need me to wish you luck for you to understand the concept ???

1 Like
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Trust and transparency are trademarks of every project developed by USTX. We have a long track record of performance and safety on all the dApps developed over the years. All our contracts are open source for maximum transparency.

Regarding the possibility to react and mitigate the effects of unforseen events, we rely on upgradeable contracts for the most critical parts (the deployer in this case).

2 Likes
18

Welcome to Grand Hackathon Season 5,
As you are wishing me luck to invest in your project, do you have any secret or magic to increase more volume and more holders?

Any other plans to reach $1B target as you are wishing us luck to invest in your project?

As you are wishing us luck to invest, though as you have said earlier it is driven by the community but do you have any other supplement to grow and expand the community?,

2 Likes
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Thanks for replying, having a strong track record of trust, transparency, and open-source contracts is certainly reassuring for potential users and investors, utilizing upgradeable contracts for critical components shows adaptability and responsiveness to unforeseen events. I’ve questions;

How does the Wish Me Luck plan to ensure a smooth transition and implementation of upgrades while maintaining security and minimizing disruptions to users and the ecosystem?

Also, how will the project foster community involvement and input in the decision-making process regarding potential upgrades and modifications to the contract?

3 Likes
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Luck is one thing, magic is another. We start with a strong community of users in the USTX ecosystem and we are sure that many other friends from other projects will join the quest. But there is no easy way to attract new users. BTTC is not the most attractive chain right now, actually the whole crypto sentiment is not great at the moment. So we’ll just work one user at a time, spreading the word in here, on Twitter and Telegram.
The first step of the project will be the Fair Luckpad. With that a significant part of the raised BTT will be used as incentives for users, in the form of jackpots. This should help with attracting new users and existing users.

3 Likes