Wakey wakey! It’s almost mid-2023 and the topics you would have guessed were going to be centre stage in the crypto environment are not. Instead, madness has set in! One that has left a bad taste in the mouth of decent players courtesy of tweet-driven fundraising presales skyrocketing to unparalleled levels of scammer-infested mischief.
Nonetheless, in the mix of things, another surprising phenomenon ensues —Who would’ve thought that a telegram trading bot would outperform the most sophisticated DeFi protocols? Certainly not me and likewise a bunch of others. So, for us, the news that Maestro bot approximately generates 4.2million American dollars monthly is quite astonishing and impressive.
Image source: Defillama
And with a polite guess, I would say that the question on your mind, and frankly, on mine too is this: Are we in a bot season?
While the answer to this question is not clear at the moment, what’s pretty factual is that with each passing moment, as fresh participants enter the crypto scene, both benevolent and malevolent in nature, the battlefield of discourse amplifies its challenges, rendering bots a formidable advantage.
It is within this discourse that this article intends to shed light on a fresh approach (YOLO NOLO discord bot) to an interesting build we’ve covered before in this article about Iconic markets, where we discussed Moonrekt — Iconic market’s first game where individual enjoy parimutuel betting on the movement of BTC, ETH, and other popular alts over a specific timeframe.
Sidenote: we’re always happy to touch another dimension to a product built on the HXRO network, in this case, Yolo Nolo. HXRO is a familiar project that leaves us excited anytime we get to mention them. Feel free to also look up our definitive guide to the HXRO ecosystem, for a clearer backstory.
Episode 1: Previously on MoonRekt
To understand YOLO NOLO, let’s look at what can be said to be its earliest form. The MoonRekt game is the first game on the Iconic Markets, a platform where gaming and crypto combine to offer simple, secure, on-chain trading games, powered by the HXRO Network.
Iconic markets use the network’s parimutuel protocol as well as an implementation of SAMM to enable on-chain parimutuel markets.
To get started with playing MoonRekt I.e: jointly speculating on whether the price of BTC, ETH and other popular coins will “moon” 📈 or get “rekt” 📉 over a given timeframe —users have to log in to Iconic markets and play in 4 simple steps.
- Start the countdown: Crypto markets don’t sleep, and neither do we. Games run 24/7(365), allowing you to place bets on the price of popular coins going up or down over certain timeframes.
- Choose your fighter: Prior to the start time of the game, pick a side: will the price Moon (increase) or will traders get Rekt? (decrease).
- Move size: You might not hear this often, but we think size doesn’t matter. The minimum entry is always 1 USDC, and there’s no maximum. Your size is size, right?
- Watch and win: When the contest starts, all entries are locked. Once the contest ends, the winning side splits the pool pro rata – winner takes all. Payouts are credited immediately following the end of the game, so there’s no waiting to secure the bag.
While this seems pretty easy and straightforward, it becomes simpler with the introduction of the Yolo Nolo.
Episode 2: The Yolo Nolo Discord bot
Discord continues to power web3 and a host of other unique communities, and is oftentimes, the bedrock of DAOs. Community activities within Discord servers have long been powered by unique bots that add to the experience of server members. The experiences that these bots/tools bring range from controlling content to community segmentation via roles, external feeds, and a host of other features important to achieve an engaging experience.
Considering the importance of bots and discord tooling for specific communities, an Anon team, a crew of based developers, have developed a MoonRekt adaptation in the form of an easy-to-integrate discord server bot called Yolo Nolo ( terrific name choice by the way).
In essence, Yolo Nolo is a discord server bot that brings parimutuel betting right to the server of communities that integrate it. Yolo Nolo can also be considered as a server parimutuel betting game built on top of the Hxro network allowing server members to bet on whether or not the price of bitcoin will close higher or lower over a 5-minute candle.
Hey! This sounds so degenerate and rightly so! Yolo Nolo evokes a degenerate experience that allows the server members of which it’s been integrated to enjoy a collective trading experience. As a member of “The Pit” — an insanely degenerate channel in the Hxro network server, this sounds like Santa’s gift under a tree on the 24th of December. But wait until you find out there’s more to this burgeoning excitement.
Yolo Nolo’s got some pretty cool features
The YoloNolo bot is a game changer for parimutuel betting. It combines community with organized and mutual gambling to create a Bruce-lee and Chuck Norris action-packed entertainment for server members. Some of the cool features and principles that come with this spectacular bot are:
- In a captivating twist, the wagers from both camps, the Yolo (aiming high) and the cautious Nolo (keeping it low), unite in a shared pot of anticipation. As the final moment approaches, the triumphant side emerges, and the spoils of the betting pool are divided up accordingly (your slice is determined by your stake in the victorious faction).
- Server operators can make some quick bucks integrating Yolo Nolo, as they get to earn 1% of every bet made on their server
- The Yolo bridge will allow users to bridge funds to other networks using the “/deposit” command.
How to Add Yolo Nolo Bot to your server and set up a wallet
To add YoloNolo to your community server:
- Use the bot invite link
- Create a private text channel called “yolo admin”
- The bot will send you all the setup instructions.
To set up your YoloNolo wallet:
- To be able to deposit USDC and start trading, send a direct message to the bot (@Yolo Nolo Bot-v0.8) on discord and use the command “ /config ” to create a new wallet
- As an extra security measure, as well as to be able to withdraw from the bot you will need to add your YoloNolo account private key to your preferred wallet manager (ie: Phantom, Backpack, Solflare, etc) where you will be able to control all your funds from
How it works
To start trading using the bot;
- Server members would need to head over to the “ <#🎰 | yolo-nolo> “ channel in their desired server where they will be able to see the information board for the Open, Closed, and Expired contests which is updated periodically every few seconds to update based on the on-chain parimutuel contest data
- To trade (assuming you deposited USDC and SOL into your yolo-account), within of the “ <#🎰 | yolo-nolo> “ channel in your desired Server, start trading by simply using the “ /yolo <amount> “ to go Long and then pass in a number for the amount of the trade, and then you can use “ /nolo <amount> “ for placing Shorts
Other Bot commands:
/FOMOYOLO - to instantly buy the $YOLO token, Yolo Nolo’s native token without leaving discord
/FOMOHXRO - to instantly buy the $HXRO token, Hxro’s native token without leaving discord
$YOLO has been live for less than two weeks, doing nothing but shows it is poised to become a dominant coin project in the Solana ecosystem.
Its chart resilience has shown that there are large accounts accumulating on every dip.
I’ve spent the weekend digging deeper to understand why. I don’t think some of us are even ready for my findings on YoloNolo bot.
Let's dig in
- $YOLO powers the @yolonolobot ecosystem - with simple binary slash commands - /yolo or /nolo - YoloNolo Bot lets you do things like Degen on whether or not short-term candles on bitcoin will close higher or lower over a 5-minute timeframe. What’s so powerful about this is that the bot is available to EVERY server on Discord (there are 19 MILLION SERVERS) and can be used by every Discord user (there are over 150 MILLION USERS) within those servers.
- The quite anonymous devs also built in a powerful little tool that lets anybody instantly buy $YOLO and $HXRO. The protocol that powers the bot is the parimutuel protocol from @hxronetwork. Hxro Network has one of the most OG founders and teams in crypto. The fact that HXRO is the engine that powers YoloNolo makes me feel good that this project has been vetted and won’t ever rug.
- The $YOLO team is aware that they have a very memeable token and have been extremely strategic in memeifying YOLO at launch. While they launch as a meme-coin, the devs dropped on the holders some of the powerful ways they will be applying accrual to the token by way of sharing the protocol revenue with token holders, LPs and traders. So basically the earlier you get in, the cheaper it is for you to accumulate $YOLO, and the bigger your return will be as you collect yield just for buying and holding (or LPing which gives you additional yield and incentives).
- PERPS: Yes. They are now adding perp trading to the bot. Perps trade more than $100 billion a day across crypto markets. Imagine now you will be easily able to trade them right in your favourite discord server with a quick /buy or /sell slash command.
- PROTOCOL REVENUE SHARE ACCRUES BACK TO $YOLO. A little math, shall we? — Assume they charge 10bps of notional trade amount on perp transactions. And assume that Hxro Network takes 5bps and YoloNolo takes 5bps. For every $100M of perp volume that trades using the bot, roughly $50,000 worth of fees will be cycled back to staking rewards, liquidity provider rewards, protocol liquidity and treasury. This doesn’t even include the fees from YoloNolo parimutuel and asset transfer. This should prove to be some meaningful ROI.
Dev’s gave a nice breakdown of how they plan to share protocol revenue as:
3% Hxro Network
0.50% server referrals (if you refer a server, you will get paid a share of their transactions!)
0.75% will get paired up with treasury YOLO and be added to LP for YOLO market liquidity
0.50% to YOLO token holders (this will be via staking and will go live soon)
0 bps maker/5bps taker Hxro Network
0.5 bps server referral
2.0 bps LP liquidity
1.0 bps staking rewards
1.5 bps treasury
As you can see, they have included all of the most important elements of capturing network effect both on $YOLO token and the YoloNoloBot - referral fee sharing, volume incentive reward, increasing $YOLO token market liquidity and cashback reward to shakers. SHOW ME THE MONEY.
->0.50% server referrals (if you refer a server, you will get paid a share of their transactions!)
->0.75% will get paired up with treasury YOLO and be added to LP for YOLO market liquidity
->0.50% to YOLO token holders (this will be via staking and will go live soon)
- Cross Chain Deposits: The team just launched Cross Chain Deposits!
Yolo Nolo simply equates to good tech! Bridging the gap between community and trading. With recent cross-chain additions, it’s not hard to see that Yolo Nolo is primed to go viral in almost every discord server! And as each winning pot is claimed, a remarkable marketing phenomenon is activated, spreading the Yolo Nolo bot like wildfire through the power of word-of-mouth. This ingenious strategy ensures that the YoloNolo infiltrates every server, leaving an indelible mark.
The question, however, isn’t how the Yolo Nolo bot would function, as we have already addressed in the preceding paragraphs! The true inquiry lies in the degeneracy of your community. Will your community truly distinguish itself if the total trading activities are transparent to all? This poses an urgent and prideful challenge to assimilate the Yolo Nolo bot, empower your trading community, and safeguard your esteemed reputation!