Monsta Party’s AMA Transcript
On March 28th, we had an AMA with MJ from the Monsta Party team to talk about the collection Monsta Party, which will be listed on March 31st on Liquid Collectibles.
Since the party is about to become liquid, we took the chance to have MJ on our Telegram to learn more about the project and bond with our community on Telegram.
So, without further delay, here is a summary of how it went.
Knowing MJ and the Monsta Party
MJ:
Monsta Party is a collection of play-to-earn NFTs on BNB Chain, and we’re backed by the Cake Monster DeFi protocol.
We were the first Generative Art NFT project to be launched in Space…which was such a fun and amazing thing to accomplish! (You can find the video from the launch on our Youtube account for anyone interested..amazing views and def worth the watch!)
Our ecosystem consists of Gen-0 and Gen-1 NFTs which interact with our various features including on-chain games of chance as well as skill-based games in our mini-arcade. Holders can earn $MONSTA dividends by keeping their NFTs active and participating in the ecosystem as well as $BNB rewards in our arcade.
Efe (💎,🍌) @ EthCC:
I got a chance to check your channel and highly suggest everyone check MONSTA’s YouTube channel out. Bonus income options coming for MONSTA NFT holders are insane, literally love it!
And we would love to know what MONSTA is aiming for.
What’s the history behind it?
MJ:
So the core DeFi protocol — MONSTA, is a deflationary token on the BNB Chain. It’s a meme coin that we wrapped in a complex and sustainable economic policy. The game theory and ecosystem can be complex at first glance, but the idea is actually very simple and rewarding when you get into it. Basically, MONSTA buys up secondary assets with the tax from every transaction, and we store that in our Gravity Vault which is later shared with all MONSTA token holders at the end of its cycles.
Currently, in just under 3 months’ time, holders will get to claim their share of almost $2 Million USD in the secondary assets of CAKE and BNB 🤤(and this is all on top of the remint they receive!) MONSTA is a rebase token, so at the end of the cycles, holders get to claim not only their vault share but also more MONSTA tokens for the following cycle.
Because of our accumulation method, token holders currently get a better ROI for CAKE by holding MONSTA than they would if they bought and staked CAKE directly with PancakeSwap which is pretty incredible 🔥🙌
Efe (💎,🍌) @ EthCC:
Beautiful things always start with fun, right? 2 million dollars worth of assets to share sounds soooo juicy 😋 And I literally love the accumulation method of yours! Sounds like a marvel of engineering! 🤓
MJ:
Our Dev may or may not be some kind of evil Genius ;) haha
Efe (💎,🍌) @ EthCC:
I love that type of devs, not gonna lie :P
Jk I love all devs ❤️
Current development status of Monsta Party and main goals in 2023
MJ:
Everyone at Monsta Party (and the entire MONSTA team) has worked incredibly hard during the bear market and I would be lying if I said it was a walk in the park haha. We have constantly been adding to our ecosystem, and fine-tuning what we have.
This year is going to be an exciting year for us in terms of development and exposure. We plan to focus on building strong collaborations with our partners as well as continuing to develop our ecosystem and the mechanisms that bring value to our holders.
Right now we’re focused on adding what we like to call “quality of life” improvements to our current features, and we’ll also be adding additional games to our arcade, hoping to launch an in-house NFT marketplace to help our users save on platform fees….and maayybeee even introduce a deflationary feature to the NFTs themselves 😉 🤫
Efe (💎,🍌) @ EthCC:
Woot woooot! Hawt stuff coming out 👀 I support and believe more in the projects who are working hard during bear, to be honest. Anyone can notice the effort is not just for money and it’s all about creating a serious business and doing business that investors can benefit from.
How Mosnta Party choose your partners
MJ:
Ah yes, the safety of our investors is our #1 priority when looking at partnerships…
We’re bombarded constantly with collaboration and service offers, but we’re extremely picky when it comes to choosing any official partners to collab with. We ignore the majority of them as they just aren’t good fits usually. Other than doing careful due diligence and research of the potential partner projects, all of our partners have been around for a while and have made names for themselves in the NFT and crypto space 🙌
Efe (💎,🍌) @ EthCC:
Yes, as we have seen examples in the past, partner selection is a really important factor. Let’s jump to another one, can you please tell us more about the Monsta Party ecosystem and how it works? I noticed there’s a big team behind it, can you also give us some information about your teammates and their positions?
MJ:
Yes, I’ll try and keep it as brief and summarized as I can but there is a lot to unpack haha🤣
The Monsta Party ecosystem is simple yet expansive. Just like the MONSTA DeFi protocol, everything related to Monsta Party revolves around active holders all in an effort to keep reward mechanisms sustainable (which is often a problem with P2E NFTs).
The basics revolve around feeding your Party Monsta various available foods, which are payable in $BNB. Party Monsta’s are rewarded with experience points (which we have dubbed PXP) and the $BNB spent on feeding is used to buy $MONSTA and distribute it to NFT holders proportionate to the amount of PXP their NFT has. The more PXP your NFT has the greater the rewards. Holders also have the ability to earn PXP in our various games which I’ll touch on briefly below as well:
- The first game we launched was Rob-A-Monsta which is a game where an active Party Monsta can “rob” inactive NFTs of their unclaimed $MONSTA and PXP rewards. It’s a really simple, yet fun game of chance which prevents the ecosystem from growing stagnant and helps keep holders engaged.
- To add to this we have Cake Toss, which is a simple game where people can place wagers in $MONSTA, pick a side, and then flip a pancake to decide on the winner. It’s basically a coin toss game but designed with our branding in mind.
- And finally, our most recent and exciting addition is the Monsta Party Arcade (MPA), which is a series of skill-based arcade games where players can participate in various tournaments to achieve a spot on the leaderboard and win some prizes which consist of $BNB and PXP
The main aim of our ecosystem is for people to have fun, while also making it rewarding and ensuring that every feature feeds into the other. There is a little bit of everything for all player types and we keep this in mind when designing new features.
Efe (💎,🍌) @ EthCC:
What a big effort and nice aim!
MJ:
And to answer the last part of your question, we have our fantastic Party team! 🥳
I’m MJ and I fill the Co-CEO role and work on everything from product development and financials to building and maintaining relationships with our awesome partners. We have my colleague Whaleorian who is one of the founders of MONSTA as well as our Co-CEO and does a lot behind the scenes from product development to make sure that things run on the daily.
Our core developer and also one of the founders of MONSTA is BitByTheByte and he really makes the magic happen with development and ensures all our features run smoothly and securely. 💻
Our Chief Marketing Officer Spike works closely with our Community Manager Moongirl to help spread the word about everything we offer via our social media channels, including building relationships with other projects and teams, hosting AMAs, engaging with our community on the regular, and just doing their best to make sure MONSTA is known to the masses.
Last but not least we have our designer Mattheww who really makes our little Monsta come to life and does everything from banners, video animation, and all our kick-ass sticker packs that our community loves so much ❤️
Efe (💎,🍌) @ EthCC:
There’s a lot going on with all those sexy people! Can’t wait to see the future of MONSTA, lastly maybe you can share Monsta Party’s socials so we can keep track :)
MJ:
I’m especially grateful to work with such amazing people…makes doing the “work” actually enjoyable :)
Efe (💎,🍌) @ EthCC:
Awwwww ❤️
MJ:
Of course 😊 We’re on all the main ones, so here is a list:
Twitter: https://twitter.com/MonstaPartyNFTs
Discord: https://discord.gg/MonstaPartyNFTs
Instagram: https://www.instagram.com/MonstaPartyNFTs/
Facebook: https://www.facebook.com/monstapartynfts
Telegram Announcements: https://t.me/MonstaPartyNFTs
Telegram for our token group MONSTA: https://t.me/cakemnstr
Efe (💎,🍌) @ EthCC:
Please follow MONSTA’s socials everyone :) And thanks for all of this information Mj! I think now we can move to the live questions part, please choose 3 questions and feel free to answer them when you’re ready :)
Opening the chat monsters, please ask your questions!
Community’s questions
Tolga: Hi MJ About sharing 2 million USD in form of CAKE and BNB, will holders be free to choose which token they want?
MJ: Thanks for the question Tolga!
Token holders automatically receive their share of both of the assets and the amount they receive is proportionate to the % of the ending circulating supply that they hold.
EXAMPLE
- Ending supply ends up being 1 million MONSTA
- The vault has $100 million worth of assets in it
- A user owns 1% of the total supply (10000 MONSTA at 1 million supply)
- They would be eligible to claim $1 million worth of assets
M¿kkel The Best Worst Artist 2022: 1. I read something about stealing the rewards of other Monsta Party holders that are inactive, I’m quite interested in this part. What’s the timeframe for deciding (whether) someone’s active or inactive?
2. Do you use Chainlink or another source for the flip game to make it provable fair?
3. The games at Monsta Party are more centered around rewards or having fun and how can you keep it sustainable?
4. What would you prefer licking on a hot summer day, a Liquid Monster on a stick or a Monsta (most important question)
MJ: Great questions!
1. Rob-a-Monsta has definitely been a fun addition and a topic of much discussion in our community! 😁 Activity requirements are based on a 10-day timer. So as long as you feed your Party Monsta a minimum of every 10 days, he remains in an “active” status and is not able to be robbed by others :)
2. We use an on-chain verifiable RNG that is very similar to Chainlink for Cake Toss, but much more cost-effective :)
3. The games are definitely geared towards having fun, but earning rewards is obviously a big part of it. We keep this sustainable primarily through our activity requirements which prevent people from only claiming/earning rewards but never participating in the ecosystem.
4. Wow…umm 🤣😆 Both sound quite…hairy, hahah. But I’ll give anything a try at least twice 😉😅
Thanks so much for your questions!
Kevin D — KING BSC: What are the plans of your team after the cycle ends in June? Will we be able to see some new features and implementation regarding the staking for the next cycle? We need to know some of the plans after the vault opens so we can position ourselves in the next cycle, share with us some of your core team discussions 🤑
MJ: Hey Kevin, thanks for your question!
Once the current cycle for MONSTA ends and the claim period is over…we start it all over again with Cycle 2! 🥳 We have a lot of plans in the works for improvements and changes for the following cycle, including getting the community involved in deciding on some new assets to accumulate in the vaults. We’ll have some of our famous Medium articles coming up in the next couple of months that will provide some additional details on all of this and let holders know what kind of things to expect and we’ll be sure to provide it all with enough time left before cycle 1 end so that holders can make their plans accordingly :)
Efe (💎,🍌) @ EthCC: Annnnnd I think that was the last answer! Well, it was an honor ser, thank you so much for coming and answering our questions!
I’ll DM all winners please be careful with scammers, you can confirm it’s me from: https://t.me/efe_G_35
THANK YOU MMJJJ! THANK YOU MONSTAAAAA ❤️
MJ: Thank you so much for your time and for hosting! ❤️
And thanks to everyone that joined us today and participated! 🙌
On a final note- We host a games/community event bi-weekly in our discord. The next one is this Friday, March 31st at 18:00 UTC and we’d love to extend an invite to you all to join us! We play some discord games, stream some live music from our house DJ Tripped Monsta, hand out some $MONSTA prizes, and just have a generally good ‘ol fun time 🥳 Feel free to join us if you have the time! https://discord.gg/MonstaPartyNFTs
Stay tuned on their socials to keep up to date with all the latest news!
Twitter: https://twitter.com/MonstaPartyNFTs
Discord: https://discord.gg/MonstaPartyNFTs
Instagram: https://www.instagram.com/MonstaPartyNFTs/
Facebook: https://www.facebook.com/monstapartynfts
Telegram Announcements: https://t.me/MonstaPartyNFTs
Telegram for our token group MONSTA: https://t.me/cakemnst
