WHITE PAPER 2.0 July 26 2021
We are keeping the original whitepaper documentation listed below for the purpose of transparency. The project has grown and evolved since inception and we wanted to take some time to update the community about some of the developments.
StrangeBrew is an ambitious project aiming to bridge the gap between many elements of crypto, payment processing, art, customer loyalty, and community engagement. Using the Fantom network’s fast and inexpensive transactions, we have developed a unique offering for brewery partners across the globe.
Using our proprietary software, brewery partners will be able to accept crypto payments which will instantly be exchanged for stablecoins, removing all danger of price volatility. We are currently using Hyperswap for liquidity. The vision is to move to our own decentralized exchange. The community will have the opportunity to provide liquidity and earn transactions fees, rather than simply paying them to corporate payment processors.
Positive Transaction Fees:
This element makes our offering extremely unique. Leveraging the power of De-Fi, our end users at breweries will not pay a transaction fee, they will receive more than the original transaction amount! We accomplish this by moving stablecoins exchanged for StrangeBrew in to vaults (such as Curve) where they earn APY before being settled in to fiat. In this scenario everyone wins. The brewery accepts crypto payments with no risk, and settles in to fiat with a net positive rather than transaction fees. Members of the community get an opportunity to earn by providing liquidity.
NFT Art and Digital Merch:
Local breweries and local artists are a perfect match. StrangeBrew can help local breweries collaborate with local artists in a way that benefits both. The StrangeBrew team can help develop NFT token contracts and minters so that customers can purchase digital merchandise in the form of NFT art. The brewery and artist will agree to terms for profit sharing.
Along with a T-Shirt with the brewery logo on it, a customer could buy a one of a kind or limited edition NFT. NFTs can be used for promotional giveaways and contests as well. They can also be included with the purchase of physical items such as beers or T-Shirts.
Digital Merch is the future. StrangeBrew gives local breweries the opportunity to get ahead of the curve. Compared to NFTs on other chains, Fantom based NFTs can be minted and transferred to the customer for pennies, making this scalable in a way that NFTs minted on Ethereum or other chains are not.
Liquidity providers for StrangeBrew pairings will earn governance tokens. Our governance token is called BEERMONEY. BEERMONEY holders will vote on governance proposals using Snapshot.
StrangeBrew tokens can be used for customer loyalty programs, or the StrangeBrew team can mint custom rewards tokens with StrangeBrew liquidity pairs for participating breweries. This replaces the traditional “punch card” loyalty program, allowing a simple, easy to track method of rewarding customers. These tokens can also be used for contests and promotions.
Decentralized governance is a cornerstone value proposition of cryptocurrency. StrangeBrew aims to bring decentralized governance to the world of breweries as a way of creating a deeper connection with their community. There are many options for distribution of governance tokens. Yield farming and rewards programs are among them. The StrangeBrew team will help local breweries to pick the best strategy. We will also facilitate and provide training on using governance proposals.
Governance proposals can be used by breweries to get honest, trustless feedback from their customers and community members. Community governance can help decide things like batch sizes, seasonal offerings or logos.
Proof of Concept:
The StrangeBrew team is currently vetting breweries to produce a small batch of custom StrangeBrew branded beers. The characteristics of the beers will be decided through a series of governance proposals voted on by BEERMONEY holders and farmers. We will be including a one of a kind NFT with each beer. We are also currently vetting NFT artists to draw logos and art, as well as the NFTs included with the custom beers.
Grab a cold glass, sit down and enjoy. More to come…
Strange Brew is a token deployed on the lightning fast and nearly feeless Fantom Opera network. The intent behind Strange Brew is to celebrate the joy of a good pint with some friends. There is a fixed supply of 14 million tokens. The goal is for 1 SBRW to reach parity with one pint of your favorite ale. Strange Brew is not a get rich quick scheme, it is a celebration of a way of life.
Liquidity will be provided in phased drops of 100,000 tokens at a time in order to avoid any thirsty whales drinking all the beer at the party. The LP tokens will be burned as the phased liquidity drops continue. The token liquidity will be provided at Hyperswap.
Six million tokens will gradually be released in 100,000 batches, burning the LP along the way.
Five million tokens will be airdropped.
Two million tokens will be used by the dev team for marketing purposes and future developments. There may be some other surprises on the way for those of us who like a drink but prefer something a little stronger…
One million tokens will be retained in the dev wallet.
This is the fun part. Our community is all about sharing a brew with a friend. After initial liquidity is provided, airdrops will be sent to those who share their brews with their friends. The mechanics are still being worked out in order to avoid bots and ensure a fair process.
The vision is that this is a drop for the working class beer drinking crypto enthusiast and shouldn’t line the pockets of whales.
We have already begun registration for Phase 1 of the keg drop, which is being done through Twitter to spread awareness to local breweries.
For the next phase, brew holders will need to send brews to a friend and provide a link to the transaction. The sender will need to announce they are sending the brews on social media (likely twitter), and the receiver will need to acknowledge they’ve received them. The sender will then be reimbursed for their kindness with more brews than they sent. The original thought was a 10% bonus, but our vision is now for this to be a larger incentive. We are also working on a better mechanism than social media to verify that the two parties interacting are in fact human beer enthusiasts and not bots. This may involve the use of an oracle solution.
We should take good care of those who are willing to share a brew with a friend in need.
BOOTSTRAPPING LOCKED LIQUIDITY THROUGH COMMUNITY ENGAGEMENT
In order for the $SBRW token to be accepted in exchange for a brew, there will need to be enough liquidity for stable coin pairings. Providing a safe crypto to fiat offramp for breweries will be critical for driving adoption. We have considered incentivizing liquidity through airdrops for LP providers and yield farming. However, many other projects have taken this approach only to see airdrops gamed by bots, scammers and whales. This results in airdropped tokens being distributed to a select set of whales, who then provide liquidity for high APY for a brief time, then dump the tokens for the next shiny new project.
Since we are in this for true adoption, we have come up with a novel approach to the liquidity question. What we are proposing is to use airdrops to incentivize the Strange Brew community to provide locked liquidity. We will do this by providing an air drop to liquidity providers who burn their LP tokens.
A liquidity provider who provides liquidity for a $SBRW to Stablecoin (which one is yet to be determined) liquidity pair who burns their LP tokens will be reimbursed with $SBRW tokens in an amount that is double the value of liquidity they provided and locked through burning. The vision is for this to create an ever increasing pool of locked liquidity for $SBRW to Stablecoin pairings, which would provide a safe crypto to fiat offramp for breweries accepting the $SBRW token.
In order to prevent whales from gaming the system, there will be an upper limit to how much burned LP qualifies for the airdrop. There will be some other qualifications to weed out bots, likely tied to spreading awareness through social media. The vision is for regular beer drinking liquidity providers to be incentivized, and for this to benefit real members of the community.
After the initial phase of bootstrapping locked liquidity through airdrops, the vision is to incentivize through yield farming. This will provide needed liquidity for breweries using the Strange Brew token for transactions while rewarding members of the community with a portion of the transaction fees.
Grab a cold glass, have a seat, and enjoy. More to come.