KCC AMA Series — Episode4 —Paprprintr-Stablecoin and KCC

INTRO
Algorithmic stablecoins get a bad rap…paprprintr is single-handedly changing all that. In case you missed how, what, when, where, why, and who? Here’s the recap:

KCC started off with a welcoming intro; the community was hungry to add to the list of quality projects on KCC. paprprintr was represented by three of their lead team members:

1. Lex — French and in France. Overall project strategy and founder.

2. Hash — French, living the DeFi dream in Hong Kong. Main dev and founder.

3. Major Rawdawg — American from the Badger State. Project Manager / business development.

KCC began by asking about paprprintr background and values.

Lex replied that he and Hash (both 26-year-old) met at University; where they both began discussing their mutual interest in crypto, back in 2017. Lex does overall strategy and guides marketing strategy; while Hash focuses on Solidity smart contract development.

Major has 20-years of experience as an entrepreneur; which he employs to oversee paprprintr’s projects.

There are three other team members — iGuttenberg (solidity dev) , iamBlueDev (front-end UI dev), and JacksJucks (Marketing Manager).

After heavily investing in the algorithmic stablecoin bDollar; their initial success and delight was met with pain, when they saw the pegged token lose peg. Sparking their interest, they formulated a new peg mechanism involving more burning.

Lex emphasized that paprprintr also is dedicated to a philosophy of good communication and customer service to their community.

Major interjected that once he saw their innovations and great customer service. He had to get involved.

PAPR ECOSYSTEM & ALGORITHMIC STABLECOINS
KCC asked about the PAPR ecosystem.

Lex explained the PAPR ecosystem paprprintr’s algo stablecoin protocol. Specifically, the $1 USD pegged PAPR token itself. PAPR is the currency that all real-world use cases will be built upon.

Then Lex teased the unveiling of a secret project.

KCC asked Lex to sum of algo stables and paprprintr’s unique spin on them.

Here’s what we learned next:

1. Algorithmic stablecoins attempt to balance an economy, like central banks try to.

2. paprprintr has inspirations from BasisCash, bDollar, and others

3. paprprintr will be cross-chain with their very own Origami Bridge (arbitrage)

4. REAL DEMAND! — papr prints and burns to match the real demand…no exceptions

KCC mentioned USDT as their first exposure to a stablecoin (with humor behind the comment).

Lex showed the contrast between USDT and PAPR; noting USDT was centralized. And other algo stables lose their pegs eventually. But PAPR (the cash token) has newly invented mechanisms, unique to its algorithm. Applicable to any system needing a currency.

The paprprintr ecosystem has two primary tokens:

1. PAPR — pegged to 1 USD through their algorithm

2. PRNTR — Shareholder token — Buy it, stake it, it’s where PAPR is made

a. Prints PAPR every 6 hours (1 Epoch) in Printing Room

PAPRPRINTR STORY
KCC asked about the age of paprprintr

Lex and Hash began in March of 2021. First chain launch was on May 17, 2021. 5-months. A baby in real life; ancient in DeFi.

KCC acknowledged that it’s old in the DeFi realm; and commented that as a business team, still very young. Lex agreed and noticed that he and Hash are pretty young compared to many of their industry peers.

KCC now asked for the difference between PAPR and other algo stablecoins in the crypto space.

Lex identified two major differences:

1. The vision for PAPR to be a stablecoin with real life use cases

2. PAPR’s mechanisms to maintain peg is the main focus (other projects get too “print happy”.

To maintain peg, paprprintr invented PERMABURN, while also making PAPR’s expansion rate more flexible.

PERMABURN
KCC was excited to learn more about the innovative PERMABURN technology unique to paprprintr

Lex replied that, whenever PAPR LPs are created, a portion of PAPR is burned away! And the same mechanic is automated within each Vault. Each auto-compounding of the vaults burns more PAPR.

paprprintr is the only project to maintain it’s peg for such a long duration; this mechanic is a huge factor in making that possible.

Hash interjected “By the way, injecting liquidity on PAPR or PRNTR makes the price PUMP. Something never seen on any projects :)”

Lex said the mechanism is complex, but you can join paprprintr telegram to read the docs and learn about it! https://t.me/paprprintr

KCC reminded the community audience to “please keep in mind that we will open up the chat and allow the community to ask paprprintr questions after the initial round of questions. So feel free start brainstorming questions while you are learning all of this.”

PAPR CROSS-CHAIN?
KCC then asked if PAPR is cross-chain and if/when cross-chain will be available.

Lex replied that it is currently separate PAPR & PRNTR tokens on BSC, Polygon, and Fantom; and SOON on KCC!

BUT! PAPR will soon be cross-chain universal at a 1:1 ratio, using the in-house developed Origami Bridge.

KCC offered a congratulations and shared excitement to see the new developments on KCC.

Lex assured that PAPR on KCC was going to be next-level. (always improving)

INHERENT VALUE
KCC wanted to know next, about what value will be brought to PAPR token going forward.

Short-list answer:

1. Farming

2. Currency for real-world use cases

3. Origami Bridge

4. OTC trading for PAPR & PRNTR

5. Paprjobs — DeFi Freelancer platform

TOP SECRET NFTs “CRYPTO BULLS”
Then Lex unveiled a surprise to tease a secret project. NFTs are coming. And they will be WEARABLE! You own the NFT, only you can order the shirt or hat bearing it’s image.

Lex displayed two “Crypto Bulls” very unique, pixel art bulls with cool accessories and unique colors. Very original.

Major Rawdawg pointed out the one on the right side (displaying his initials by the way) was “liit!”

Hash chimed in to disagree…saying it was “driiip!”

KCC sat back and watched the fun, commenting “Looks bullish to me.” LOL

PAPRJOBS
What is PaprJobs? Was the obvious next question asked by KCC.

Lex: “paprjobs is the upcoming project of paprprintr.finance. This project mixes DeFi and freelance together. Freelancers will get paid in papr and some other potential cryptos. What would change things is that for the duration of the task being completed, the crypto can be staked , so that the freelancer can get a bonus on the crypto he accepts to be paid in. paprjobs will allow us to connect DeFi to the real world, which hasn’t been done yet.”

PaprJobs is currently in development and a beta will be announced in the coming weeks. BIG innovation from the paprprintr team.

VAULTS
Tell us about the vaults, KCC inquired.

Lex: Vaults are tools that allow to automate the compounding different pool rewards at an optimal rate. These are on-demand: You want a vault for a project you like? Just ask us!

Vault fees:

· 0% deposit fee

· 0% withdrawal fee

· Only a performance fee that is taken to validate the transaction for every compound that is done. What’s left from the collected fees will be used to buyback & burn PAPR 🔥

Vaults are already on the KCC (for KUS for example). On KCC, auto-compound happens around 10 to 30 minutes depending of the specific vault.

TOKENOMICS
KCC moved to the next question; one of GREAT INTEREST to the community. What are the tokenomics for PAPR & PRNTR tokens?

Lex explained:

PAPR has unlimited and elastic supply, meaning that if the demand is low, less printing, if demand is high, a lot of printing (meaning BIG APRs for the PRNTR stakers in the Printing Room!)

The max supply of PRNTR is 100,000, but PRNTR has the permaburn mechanism, making it deflationary.

For example, since we released the Polygon side of the project, we already burned approx. 4% of the total PRNTR max supply! FOREVER!

KCC noted 100,000 is not a huge number for a token supply.

Lex basically said “Only while supplies LAST!” Meaning get it now or cry later.

What determines the expansion rate for PAPR? KCC asked.

Lex replied: expansion rate adapts demand. If there is a big demand for PAPR, printing will go BrrRRRrrrr!

We usually start with a 0.5% expansion.

And adapt over time.

Major Rawdawg jumped in: I want to be sure to say this. When I came to this project, I found that they had great technology as you can all see…BUT

What I loved was their extremely high level of customer service. Our customer experience is second to none. So I brought my business experience and my own customer service skills…and we applied for the grant. Here we all are. Thank you so much to the KCC team. ¯\_(ツ)_/¯

KCC agreed customer service is indeed important. We are sure that KCC users are going to appreciate when good customer service is being delivered.

COMMUNITY QUESTIONS

Question:

1:What’s the main competitive advantage that PaprPrintr has over other stablecoins.

2: What does PaprPrintr and its team brings to the KCC ecosystem that is lacking now.

3: In the long run where do u guys see KCC as compared to other Blockchains.

4. Lastly when are u lunching on KCC, any ETA on that.

Answer: Lex

1. Our mechanisms and vision for PAPR which is connecting DeFi to the real world. We’re the only algorithmic stablecoin on multiple chains that never lost peg too

2. Use cases that bring innovation such as the DeFi Freelancing platform that is paprjobs

3. KCC hasn’t exploded yet and has a lot of potential + KCC is back by the strong exchange that is Kucoin (I’m bullish on KCS)

4. Approximately in a month

Question:

1. Will you launch the papr token as a spotlight project on kucoin?

2. How different is ampleforth to your project? It also has elastic supply.

Answer: Lex
1. Too soon to make that comittment here and now but we’re looking into it

2. it’s a rebase algorithm, we expand or burn according to the demand

Question:
The burn with creating LP (10%), and the tax when selling PRINTR (15%) and PAPR are both pretty steep. The auto-compounding performance fee (4.4%) for the vaults is also slightly higher than most autocompounders at ~3.5%. If my understanding is correct, these are the main mechanisms to maintain the peg (and I agree that they are definitely needed), but how do you plan to attract a constant flow of new users to the PAPR ecosystem given the higher than usual fees.

This is as similar seniorage projects such as Tomb Finance on FTM only had the sell tax but no tax on LPs, and it wasnt enough to keep it pegged.

Answer: Hash
This is literally not like Tomb or others, even the way liquidity is added does not work the same way. Like mentioned during the AMA, adding liquidity makes the price pump at every single injections, thus strengthening the liquidity over time. On the top of that, a portion of the fees is burned and another part is used to add liquidity and lock it to the dead address.

Also, you’ll notice that the expansion is changed over time, when other projects print undefinitely, and create a bubble. We do not create a bubble and prevent it before happening. A clear example is BSC and Polygon ==> Peg maintained with success, never lost it. So yeah. It works, and better than the others as we are the last one standing in the game of seigniorage :) Key is to adapt to the real demand, thats what we do.

Question:
Yes, I know that its very different from Tomb or crap like BDO, and the burning when adding liquidity is a big difference, but my question was how do you guys intend on constantly attracting new investors to add liquidity so as to keep burning PAPR that way and make the price pump.

Answer: Hash
Well the use cases we have mentioned will have income, used to buyback and burn PAPR (bridge, OTC, paprjobs, NFTS).

Moreover these platforms will depend on PAPR, thus creating demand for it and making the share more interesting to hold.

Liquidity wise, users should not remove too fast or they’ll lose part of their principal (due to the fees at liq injection you have to make up for it and stake), thats also an incentive to keep the machine running :)

Question:
Can’t wait for paprjobs guys

This project sounds innovative !

When will it be released ?

Answer: Lex
Oops, answered wrong the first time. We will be able to announce beta in a few weeks !

Question:
also what happens when users remove liquidity?

Answer:
Just less liquidity overall

SIGNING OFF!

KCC Official English Community

“Love to see all the interaction between the KCC community and the PAPRPRINTR team

Now we are wrapping an amazing ama, we want to thank Major, Hash and Lex for your time

And we are looking forward to seeing you thrive on KCC”

Lex

Thanks for having us guys !

HashM

Thanks a lot!!

Major Rawdawg

Thank you all so much!

KCC is a high-performance and decentralized public chain developed based on ETH to provide users with a more high-speed, convenient, and low-cost experience