AMA Recap: Monsta Party

Basic information

  • Time: November 9th, 2021 at 2PM UTC
  • Project name: Monsta Party
  • Host: Kristen from Blockchain Army
  • Guest speakers: Byron James | Cake Lord
  • Main content:
    • Part 1: Project Overview
    • Part 2: Team
    • Part 3: Products & Services
    • Part 4: Tokenomics
    • Part 5: Community
    • Part 6: Transparency
    • Part 7: Roadmap
    • Part 8: Community Q&A

MAIN CONTENT

Part 1: PROJECT OVERVIEW

1. Would you like to introduce a little bit about yourself and also the project?

Byron: I’m Byron, I’ve basically been acting as the Project Manager for Monsta Party. Monsta Party itself’s a side project for the DeFi protocol called Cake Monster. Basically, Monsta Party’s built by the same people who built Cake Monster. I’m doing project management for this NFT side project.

2. Where did you get the inspiration for this name of Cake Monster?

Byron: The Cake Monster protocol’s an incredible financial instrument. It’s the most sophisticated deflationary protocol that there is in DeFi. The thing that makes it so special and unique is basically that it’s deflationary and the transaction tax is used to buy a different asset, a secondary reserve asset and that’s $CAKE, PancakeSwap’s token. This characteristic of the protocol basically means that as long as $CAKE’s assault after token, it’s immune from implosion. We wanted to use $CAKE as our secondary reserve asset. That was the first name of the project, Cake, and then we wanted to add a meme character and not follow the dog trend so we created this cute yeti monster that eats all the cake. Therefore that was how the name was born, Cake Monster.

Part 2: TEAM

3. How many team members are there that are working together right now to build up this whole amazing project? How are they contributing to Cake Monster as well as Monsta Party?

Byron: The team size, I couldn’t give you an exact number because there aren’t strictly any employees, there are contributors and people who participate in whatnot and we work together but there’s no formal contracts. Of those people who contribute regularly on a day-to-day basis, we’re probably looking at about 20 people, maybe. Just over half of those moderators, we’ve got three and a half including the half being myself, developers. We’ve got a few designers, a couple of animators, a marketer, quite a few people but just about over 20. We need to expand, for certain, we need another 5 or 10 people at least in order to grow the project even more.

Part 3: PRODUCTS & SERVICES

4. What kind of project is Cake Monster?

Byron: Cake Monster is somewhat old now, it’s about 6 months old. That’s the DeFi protocol, that’s the deflationary protocol, there’s a token and basically that’s the foundation for Monsta Party now. What we’re talking about today is Monsta Party which is this NFT side project. Basically, this Monsta Party NFT side project is like these ten thousand generative art NFTs that you see but we’ve made them a little bit more interesting and give them utility by allowing people to earn MONSTA dividends. MONSTA is the Cake Monster’s token. If you have a Monsta Party NFT, you earn MONSTA dividends, you feed your monster and you gain XP points. The more experience points you have, the more MONSTA dividends you earn proportionally. That’s the basis for the NFTs and everything. We’ve also integrated into Oasis, their metaverse. Basically, when you reach a thousand experience points, you will get an equivalent playable character that can roam around the Oasis metaverse. The Cake Monster character that everyone knows, the white fluffy blue face thing, everyone who gets to a thousand XP points with their Monsta Party NFT will get this character generically. That will roam around the Oasis metaverse. When you get to 5000 XP points, you actually get a playable character that is an exact representation of your NFT so your NFT can roam around the Oasis metaverse. We’re planning on integrating into many different metaverses. Every metaverse that we integrate with, you’ll have your own monster character in the style of that metaverse. If there’s a cyberpunk metaverse, you’d have a cyberpunk styled Monsta Party monster. If it was more 3D realism, the monster would be more 3D and realistic, etc. We’ve got a lot of plans really for the future of the project but that’s the basis of the project for now. Again, everything’s underpinned by the Cake Monster protocol.

5. What would you like to say to make your project outplay and stand out from the crowd? Maybe three unique selling points from Cake Monster.

Byron: First of all, Monsta Party is underpinned by the Cake Monster protocol. It would take quite a while to really explain the Cake Monster protocol in its entirety but as I say, it’s a supremely sophisticated financial instrument in the sense that every other deflationary protocol and static supply protocol such as Bitcoin, they all at some point, if you run through enough transactions, will implode. Basically, Cake Monster is the only protocol that won’t do that because it has this secondary reserve asset, this CAKE. Every transaction buys CAKE, this CAKE is added and stored and that creates a price flaw for the project. The project is a safe project to invest in the sense that the price can never go to zero. Look at so many deflationary protocols and things, particularly the ones that do reflection, whereby the transaction tax is basically used and distributed to all holders, that chart rockets up and almost always comes back down and flattens and basically goes to almost zero. That’s basically impossible with Cake Monster. There’s no other protocol on Binance Smart Chain that does that so that’s the first unique selling point. It’s backed up by the best DeFi protocol in Binance Smart Chain. There is one other protocol like it and it is called Metawhale. That was the inspiration for Cake Monster and all the Cake Monster members of the original team all came from that project and worked in that community. That’s the first unique selling point. Another unique selling point, I’m sure others are doing this but I haven’t seen one yet. We intend to integrate into as many metaverses as possible. Basically, this NFT that you grow and feed and when you get to 10,000 XP points, you level up to another monster, etc. That can basically be your representation across the entirety of the metaverse. We were thinking about creating our own metaverse which was mine but what’s far more interesting to us is that you can traver all metaverses with your monster character. Of course, keep your XP points and use them within their metaverses, etc. It’s a whole ecosystem that connects a lot of metaverse into one. Each metaverse is like a whole gameplay or a game world and then they connect them all together. That’s basically the concept. You’ll get your own playable character that’s animated and moves around within that game. The third unique selling point and this is the best in my opinion. These generative art NFT avatars, everyone sort of talks about the historical significance of being the first generative NFT project or art blocks and punks and whatnot. Historical significance is seemingly important to people and that’s the reason that these NFTs have value. Being the first to something’s usually a pretty reasonable thing to celebrate and people find value in it. What we’re doing is at 7PM UTC, we are sending these NFTs into space so we will basically be able to claim that Monsta Party NFTs are the world’s first generative art NFT collection in space. They’ll be displayed in space above the Earth at 40,000 meters in the troposphere. That will be a world’s first for generative NFT projects. For me, there is nothing more historically significant than that, that cannot be beaten. We’re doing that in 5 hours so everyone just needs to tune in and watch it. At the end of the day, you’re going to be owning something that was first displayed in space. No other project in the future or the past will ever be able to make that claim.

6. Can you explain in detail the NFT minting mechanism that you guys have?

Byron: It’s pretty simple. You watch this space launch video, we’re going to be live streaming it. We’ll put the live stream links on Twitter and on all our socials and everything. At some point during that, there’ll be a holographic laser display and a countdown, three, two, one, go. At that point, minting begins, you then need to be on the Monsta Party app which has the URL “app.monsta.party”, go to the mint screen and that’s where you’ll be able to mint your NFTs. You’ll be able to mint within Oasis’s metaverse as well. It’s our first live integration with them so they’re the two places to mint. All Cake Monster already has some NFTs, they’re called Diamond Claw NFTs, they’re not avatars or anything like that. Everyone who owns one of those NFTs that’s activated, they will have 15 minutes head start to mint Monsta Party NFTs. There’ll be a countdown on the minting screen, that countdown goes from 15 minutes to zero, people who got on our whitelist will have 15 minutes to mint. After 15 minutes, when that countdown gets to zero, it’ll be an open public sale. When that’s done, you will be given an egg. These eggs are unhatched, they’re cutely animated and bounce around and there’s some feet sticking out the bottom. At some point randomly within the next five days after minting, your NFT will hatch and it’ll turn into a Party Monster. At that point, you need to feed it once to activate it and once it’s activated you can start earning experience points and claiming MONSTA dividends. It’s in everyone’s best interest to keep their eyes on their egg and hopefully it hatches sooner because the sooner it hatches, the sooner you activate it, the sooner you can start playing.

Part 4: TOKENOMICS

7. How are the tokenomics of Cake Monster distributed? What can they be used for in this whole project?

Byron: The token is $MONSTA, that’s not really used in the project so far. What happens is you buy the egg, the NFT with BNB and all the proceeds from the NFT minting, 50% of that buys $MONSTA and burns it. That’s going to increase the price of $MONSTA, another 30% is used to buy CAKE and that’s added to the vault. As I mentioned earlier, the unique thing about the Cake Monster protocol is that there’s this secondary asset of $CAKE that we buy. We’re going to be buying $900,000 worth of $CAKE and adding it to the vault so that increases the price floor. The feeding is also in BNB, what it does is buys $MONSTA and distributes it to the users. That’s how the Cake Monster protocol is linked to the Monsta Party NFTs regarding any BNB that’s spent for minting or feeding.

Part 5: COMMUNITY

8. What is your plan to expand your community even more globally and also improve your users’ experience in the future?

Byron: We have an amazing community. It has to be the most intelligent, creative and funny, whilst also fairly dense but intelligent community that I’ve seen in Crypto. I think we’re nearing 9,000 members in Telegram and god knows how many in Discord. Telegram is for Cake Monster, Discord’s for Monsta Party. Of course we’ll be expanding the product and keep building and delivering on things that we’ve already promised on the road map and whatnot. Every time you build and deliver something new and cool, more people join the project. They get interested and they want to be a part of it. The community just grows organically on its own because it’s so funny and cool. Marketing these NFTs are obviously going to help and the more we integrate with other metaverses then there will be cross-pollination of communities and that kind of thing. There’s going to be a whole lot of Youtube interviews like this AMA project review, lots of cool things as well as expanding on both projects. There’s a lot more to come for Cake Monstar to address all sorts of different things that’ll improve the protocol. Now we have Monsta Party NFTs and that’s a whole different beast as well. There’s almost going to be two separate teams behind the scenes that are going to be developing these things.

Part 6: TRANSPARENCY

9. What are your tips and tricks to stay transparent and gain more trust from the users from your community since your whole project stays anonymous most of the time? How do you keep the faith of your users?

Byron: I can’t really say anything beyond keeping promises and being transparent with the community in every way possible and always staying true to our word and not breaking that trust. That’s really the most an anonymous team can do. Of course you can lock liquidity and then have a dow and multi-sync wallets and all that kind of stuff as well. Aside from what I’ve already just said, how can we prove that this isn’t a rug? Would any team work solidly on a completely unique and novel protocol, work every single day of the week, 10-12 hours a week and continually deliver on everything that they promise, never breaking trust, always being open and transparent. At some point, people have to realize, obviously new people coming don’t understand all that but the more and longer that you’re in the community, it’s going to become blatantly obvious that we were trustworthy even though we’re anonymous.

Part 7: ROADMAP

10. How’s business going and did you face any kind of challenges or difficulties along the way? What are the next goals for Monsta Party?

Byron: Regarding Cake Monster, we’ve been executing on the road map that we put out. There were eight phases of the road map where Monsta Party is phase three, complete. After that the road map’s a dow. We’ve basically been executing on the road map. Certainly, finding the right people to become part of the team is probably the greatest challenge. We know what to do in every single area and aspect pretty much. We’ve got a great community and they offer a lot of awesome suggestions and whatnot things that we, the main team behind the scenes, don’t always think about. We take that onboard and we’ll try and implement where we can. Challenges, always staffing and finding good quality people in Crypto who are also anonymous and trustworthy. We spend a lot of time vetting people because we know people try to influence but also infiltrate teams in order to get inside info and ruin projects so we’re all on guard. If we get a hint that someone is behaving a bit strange or isn’t trustworthy then they might get another chance but if it happens a couple of times then we get rid of them and then find someone else. Finding trustworthy people who are also skilled and fit in with the project, that’s the number one challenge. With regards to everything else, it’s easy, it’s just work. We’re a super highly skilled team, we need a few more participants, people who work on the project to help manage the workload and whatnot. But the people that we have working for us are just incredible, some incredible minds with incredible skills and whatnot. Then we’ve got an incredible community and it’s all fine. It’s just getting the time to do the work, the main thing and finding those trustworthy people.

Part 8: COMMUNITY Q&A

11. When the Cake vault is released, will all holders of MONSTA be paid out at the same time or is the release staggered to prevent the price of $CAKE being affected?

Byron: The answer is to be decided. Of course releasing the entire $CAKE vault at once could be problematic. Basically, Cake Monsta protocols are upgradable contracts so we can change things as we wish. What’s most likely going to happen there is when we shift the project into becoming a dow then most likely it would be put down to a vote and the decision of the dao and then we’d implement it in that way. But I can’t say either way if the decision is going to be based within the dao. I mean just to clarify as well there’s still another 18 months before the $CAKE vault is open. Basically this $CAKE’s released either when the $MONSTA supply deflates to one million tokens or two years have passed. We’ve been there 18 months, that’s why it’s not so somewhat of a hidden secret issue but we have lots and lots of time to decide what would be the right thing to do and again you know kryptos, so dynamic, so fluid. Other opportunities and possibilities might come up in 6 months, so it’s hard to really determine exactly what we’ll do now in 18 months.

12. What is your business model? How does your team make profits?

Byron: Basically it’s in one of the medium articles. With Monsta Party NTFS, 50% of the raise of the money collected goes to buying and burning $MONSTA, 30% goes to buying $CAKE and adding that to the $CAKE vault and the other 20% goes to team, marketing and development funds. Within that we’re going to obviously keep some of the BNB for ourselves so that we can afford to feed ourselves and keep working on the project.

13. Do you have a solution for balancing the game’s entertainment factor while providing a long-term income for game players and investors?

Byron: As I mentioned, the amount of dividends that you earn is relative to your experience points, right? So the more experience points that you get from the NFT, the more MONSTA proportionately you’re going to receive as dividends, right? So that immediately creates incentives for people to feed and play, etc. Now with these metaverse integrations, you’re going to be able to roam around these metaverses that also have integrations with other projects and things. With your monster also utilizing their experience points in some ways, you’re going to be able to compete and participate in quests and contests and that kind of thing iIn meta versus to earn other tokens from other projects as well. So it’s all kind of interlinked, there’s always going to be opportunities to play and earn with these Monsta Party entities.

14. Is it possible to read two different Gen-0 monsters together to create a mixed-type Gen-1?

Byron: We we we considered that, I mean there’s just so many different things that you could possibly do. Right now, no, that’s not what we’re gonna do. The Gen-1’s gonna be based on your experience points when you get to 10,000 experience points and then you’ll get a new NFT that’s your generation one. So, no, not now, like I said we did discuss it and decided not to do it. But to be honest, we can pretty much do anything that we want, so if we see a good opportunity there and there’s a good reason to do it, that’s better than the direction we’re currently going in, we can also do that as well. No breeding currently. Basically when you get to 10,000 experience points, your monster evolves fundamentally so you get a Gen-1, so you hatch a new egg and a new monster and you keep your old experience points, so you’re still earning the same dividends.

15. How do you choose your partners? Who’s the partner that excites you the most? If you have the chance to partner with whoever you want in the entire Crypto, who would you choose first?

Byron: How do I choose partners? I mean of course popularity counts, you know. We look to partner with not necessarily popularity but that of course helps, if there’s lots of people using a particular service, then it makes sense to partner with them because they’ve obviously got a good reputation by virtue of a lot of people using them. Also how exactly it works within the confines of our project and basically does it sort of fit in and Whatnot, and that linked also with vibe you know like what kind of vibe do we get from these people when we’re talking to them. Like I was mentioning earlier about being very very selective about the people that come into the inner circle and in a team because there are a lot of anonymous people in Crypto and Whatnot, so it’s good to be careful now. We have the same level of discernment when choosing partners as well. So you know we’ll reach out to the best in fact, a lot of the best and biggest projects have reached out to us and we’ll have a conversation and if conversation flows and they seem like good people as well then we’ll generally tend to work together. Then for the second half, if I had a chance to partner with whoever you want in the entire group so who would you choose? First, I mean, there’s only one person who you’d partner with, really? I mean the person who’d pumped your project with Elon Musk and it’d be so fitting for this NFT project. I mean Elon, just if you’re listening to this, tweet about this project for god’s sake man. This is the first generative art project in space well in line with spacex, so you know. I’m sure if he knew about this project, he’d be very proud.It was like, Elon Musk of course because he makes a tweet and he can pump a coin, like no one.

CONCLUSION

Up to now, Monsta Party has had outstanding growth with an ever-expanding ecosystem, promising to thrive in the near future.

Disclaimers: Writers’ opinions are solely their own, and do not constitute any financial advice, investment advice, or trading advice.

BSC Army strongly recommends that you do your own research, and seek professional advice from a financial advisor where appropriate.

 

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