Hugo Finace AMA Transcript

"Join a community driven #dAPP where you get access to many cool #DeFi features "

By
BSCNews
on
October 10, 2021
Category:
AMA

Andrew (BSC.News)

Hello everyone and welcome to the AMA with Hugo Finance!

Today we have @PureAdmin joining us today to answer some questions about Hugo

Glad to have you here :)

Complete Ultra Instinct

Thanks for having me, appreciate it guys!

Andrew (BSC.News)

Of course! Its great to have you here

So how this will work is, the AMA will consist of two rounds. The first round will be us going through the questions that I had prepared for you before hand. And then the second round will be a community round where I will open up the room to allow questions to come in. The second round is also where we will select the two winners of our giveaway

Andrew (BSC.News)

Sound good?

Complete Ultra Instinct

Okay sounds great! Looking forward to the questions and hope that I can give the BSC community some more insight on Hugo, the community driven project. 🐣

Andrew (BSC.News)

Awesome! So with that let's jump into the first question


1. Please introduce yourself and the team behind Hugo Finance.


Complete Ultra Instinct

Great! Let me begin by introducing myself, I am the project manager of Hugo Finance. 

Hugo has been started by me and the two co-founders. Through community seed funding we managed to build up an awesome development and marketing team that has led to the current succes of Hugo. We have a strong and experienced development team and are enthousiast about building for the future of our project. Since we are a community project, the future of our project is shaped by our community through the DAO, which can be found on our dApp.

Andrew (BSC.News)

Awesome! Thank you for that introduction


2. What is Hugo Finance?


Complete Ultra Instinct

Hugo is a community driven dAPP where you get access to many cool DeFi features like NFT, GameFi, DAO and much more!

Our first NFT game release is Hugo's Nest, it's a character creation game where users will be able to hatch their egg in the nest.

There they will be able to add cool features to their character by collecting consumables, or fastening the hatching process by collecting a special incubator. The NFTs that will be minted in Hugo's Nest will later be used as an in game character.

Things to look forward to for the Hugo NFT 

Hatching Race - Be the first one to hatch an egg type and receive a special NFT as reward!

Hugo Bosses - Airdrop for the bosses!

Hugo’s Space Verse Game - Space adventure that allows the user to dive into a mysterious space discovery. 

Physical NFT - Governance Token, Comic Book, 1 of 1 artworks.

Token Burns - We will burn lots of tokens to make Hugo's scarcity increase.

Play to earn - We will integrate rewarding mechanism to create awesome user experience.

Andrew (BSC.News)

Oh wow so you guys do a bit of everything!

So before we go more in depth about these features


3. What is $HUGO and how is it used on your platform?


Complete Ultra Instinct

$Hugo is a governance token with a built in deflation mechanism.

The token is used in our dApp and games as utility token for our project.

You can use it to vote, propose ideas, buy in game items, buy NFTs or even stake your tokens in game!

We have also put a discount on the eggs in the hatching game for people that use $Hugo to buy their egg instead of BNB.

Furthermore you can stake $Hugo in game to unlock cool features for your NFT.

Andrew (BSC.News)

Okay nice so its just a bit of an incentive I see to purchase the eggs

How much of a discount would you get?

Complete Ultra Instinct

10% if you purchase with $Hugo

Andrew (BSC.News)

Okay very cool


4. Can you briefly list the features that you offer on Hugo Finance?


Complete Ultra Instinct

DAO : Decentralized Autonomous Organisation

Our community members are stakeholders of the organisation and shape the future of our game and dApp.

NFT : Non Fungible Tokens will be used as your in game character, in game items and resources, avatar and Hugo will also go physical with their NFT by releasing cool comics, artworks, physical tokens and such things.

GameFi: We have chosen a different route for our NFT release, instead of classic random generated release we gave our users the possibility to hatch their egg and choose their character. Ofcourse we are very glad that we have released our project on the BSC, because as you know from a gas fee perspective this would be very difficult to realize on Ethereum network or would have a very high cost of entry. Since we are a community project we want everyone in our community to be able to participate. NFT prices will range from 30USD-200USD (+discount when paying with $Hugo)

Deflation mechanism: Crypto is the future and we have seen that it's a very sound system for money. Inflation has played a big role in financial crisis and we believe that implementing deflation would be very beneficial for holders especially in a volatile market like crypto. It rewards investors who believe in the future of the project and makes sure that the value increases overtime based on decrease of supply.

Andrew (BSC.News)

Awesome! Thank you for that information

So now to unpack a bit


5.  What is the DAO and why is this especially important in DeFi?


Complete Ultra Instinct

A decentralized autonomous organization (DAO) is an entity with no central leadership. Decisions get made from the bottom-up, governed by a community organized around a specific set of rules enforced on a blockchain.

DAOs are internet-native organizations collectively owned and managed by their members. They have built-in treasuries that are only accessible with the approval of their members. Decisions are made via proposals the group votes on during a specified period.

For Hugo it was really important from the start being a community driven project and giving every person the ability to help the team shape the future, we will also benefit from the DAO by integrating it with our game. We believe it will create a very unique result, letting the users shape the game instead of the publisher, our goal is to achieve the game that the community wishes for.

Andrew (BSC.News)

Yeah of course and I think that even by having a DAO in your platform shows the dedication to the ideology behind decentralization and of course DeFi

Complete Ultra Instinct

Yeah you get the vision! Thanks Andrew 🐣😁

Andrew (BSC.News)

Yes of course!


6. What is Hugo's Nest? How does this feature incentivize community interaction?


Complete Ultra Instinct

Hugo's Nest will be our first GameFi :

It releases today 10/10 8PM UTC , here people will be able to create their own Hugo NFT Character.

Hugo has nested somewhere in the metaverse floating around on the Binance Smart Chain and is inviting all users of the Hugo Ecosystem to come together and hatch the Eggs to release them into the Metaverse.

Hatching an egg will grant access to Hugo’s Spaceverse, an adventurous space mystery that Hugo’s troops need to solve by gathering knowledge, skills and resources.

You can see that the countdown is already up

Here's an example of a Doge egg, which can be hatched in to a Hugo Doge NFT

Andrew (BSC.News)

Oh that's super cool! and how much do they go for?

Complete Ultra Instinct

The price range is 30USD - 200USD depending on which one you want to buy.

There's also a cool feature that allows you to add a description and a name to your NFT.

Complete Ultra Instinct

I'll show you the first NFT that has been minted by our developer, it's pretty cool!

Andrew (BSC.News)

Yes please do!

Complete Ultra Instinct

NFT

Andrew (BSC.News)

That's awesome

Complete Ultra Instinct

Check out the description our dev is a pretty funny guy

Andrew (BSC.News)

So these are available on a marketplace or we have to wait for the hatching to take place?

Oh nice I didnt even see that at first haha

Complete Ultra Instinct

Hatching will take place on:

You can see that currently there's a countdown.

We're not sure yet about what marketplace we will list on for the aftermarket.

Our objective is to reach out to Binance, show them what we have built and get the chance to work with them.

Andrew (BSC.News)

That's really neat stuff guys

so moving on

Complete Ultra Instinct

Thanks Andrew, appreciate it we have put it a lot of work and it feels good to get some nice feedback!

Andrew (BSC.News)

Of course! Got to give credit where credit is due


7.  What is Hugo's Spaceverse?


Complete Ultra Instinct

Hugo’s Spaceverse will consist of a digital cyberspace where users can roam through different planets and places. Search through space to gather experience in actions like: martials arts, power training, vitality or sharp shooting. Arming yourself with different weapons, armor or machinery. Or become a master at exploring space to gather resources for surviving or even engineering. 

Naturally all of this will require preparation and many experiences and quests will build towards unlocking different features and discovering many areas in Spaceverse. Leveling your skills will allow many benefits and the items that you obtain can be held in your bag or in the vault. Hugo NFT will also give you access to many unique features like drop parties or clan building. 

The unique play to earn mechanism will reward players in Hugo’s Space Market where you can sell your loot, or purchase some item that you might require for a quest. Many resources that can be gathered through Spaceverse for example minerals like: lithium, sulfate, zinc, starseed and even aether dust. And also tools for skilling, lasers, machines and weapons to defend yourself in space.

Healing and strengthening will be built through a strict and nutritious space diet that will consist of many plants, fluids and various protein resources. For the collectors of digital precious objects it will be surely interesting to safeguard their mining loots like precious stones and gems into the vault or even trade them to some collector on the market.

Also we are completely updating our website and whitepaper in the following days so stay tuned for that, everything will be explained on the website.

Andrew (BSC.News)

Oh I see so "spaceverse" is your guys' twist on metaverse

But yeah that's really neat, do you have any teasers or pictures you could show us?

Complete Ultra Instinct

Give me a moment

Andrew (BSC.News)

Awesome :)

Complete Ultra Instinct

I can't give away too much right now, our devs are still working on it.

Andrew (BSC.News)

Well thank you for that! how exciting


8.  What is the Community Vault and what does this feature mean to you?


Complete Ultra Instinct

The Community Vault will Hugo's Foundation to building a complete and neat product for our community.

The community will be able to decide how we use our vault through the DAO and on top of that we will use it to back our game with a play to earn mechanism. We believe that this is a way of creating a cool and rewarding game that will be fun to play.

Andrew (BSC.News)

Okay nice!

So last but not least


9. Any exciting news you would like to announce here today?


Complete Ultra Instinct

Well one of the things that the Hugo community is really proud of is that we a partnership with E-Fuse.

eFuse Provides An eSports Media Platform For The Growing Gaming Community and I think that our partnership with them is something we will be able to leverage in the future for sure

We have already hosted one tournament with eFuse on Twitch where we had a 25k$ prize pool.

Lot's of well known and trusted gamers had joined Hugo's Crypto Race and it was an amazing experience!

Our plan for the future is to continue hosting events with eFuse and big Twitch streamers with our own game.

Besides that one many objectives that we have set is to list on a Tier 1 CEX like Binance or Kucoin.

Our community has been growing and this brings lots of possibilities for us to extend the growth and we will certainly put in the effort that is needed to achieve the goals that we have set for our community!

Complete Ultra Instinct

I'll provide you with all the useful links for Hugo

Important links:

🌐 Website

🐥 Twitter

📝 Whitepaper

➗ Slippage? 2-3%

🥞 Buy on Pancakeswap

💱 Buy on Bitmart

📈 Chart 

🔎 BSC scan

📊 Audit 🕵️♂️

May be something important also should be mentioned is that we have performed a KYC verification & contract audit before we started our presale.

This was something that helped us build our community, since we're a Defi Crypto project we wanted to ensure our community that we had the right intentions and this could only be done by securing them there's no way for us to do anything malicious

I also invite anyone who is interested in Hugo to our Telegram:

Andrew (BSC.News)

Awesome thank you! Make sure to go and check out Hugo Finance everyone!


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