Whitepaper
1. Market background 1
1.1 Non-fungible tokens (NFTs) 1
1.2 Metaverse 1
1.3 Decentralized Finance (DeFi) 1
2. The HyperVerse 3
3. Life in the HyperVerse 3
3.1 Create avatars 3
3.2 Reside in the HyperVerse 4
4. Tokenized Items 5
4.1 HyperVerse-Native NFTs 5
4.2 Crafted NFTs 5
5. Galaxy Pioneer 6
5.1 Galaxy Wanderer 6
5.1.1 Mining and Looting 6
5.1.2 Galaxy Booster 6
5.1.3 Space expedition crew 6
5.2 Galaxy Entrepreneur 6
5.2.1 Land and planet development 7
5.2.3 Manufacturing and Mining 7
5.2.4 More business ideas 7
6. Space Expeditions 8
6.1 Pre-launch 8
6.2 Expedition rewards 8
6.2.1 Fleet level 8
6.2.2 Planet rarity 8
7. HVT utilizations 9
7.1 Multi-planet system 9
7.1.1 Looting original NFTs 9
7.1.2 Upgrading and customizing NFTs 9
7.1.3 trade for planet-specific currencies 9
7.1.4 Marketplace 10
7.2 V-DAO 10
7.2.1 Rights to vote 10
7.2.2 Business grants and support 10
7.4 Galaxy Decentralized Capital 11
7.4.1 Lending 11
7.4.2 Borrowing 11
7.4.3 Tokenized financial product 11
8. Token distribution 11
8.1 Contribute to earn 12
8.2 Proof of Stake (PoS) 13
8.3 Proof of Space-Time (PoST) 13
8.4 Proof of Burn (PoB) 13
8.5 Liquidity Mining 13
9. Roadmap 15
10. Summary 18
Preface
The HyperVerse team builds an online virtual world where users can explore, build,
and create monetized assets to earn HypeVerse's native token, HVT. In addition, the
HyperVerse will implement elements from DeFi, NFTs and Game-Fi, to create a
virtual world with a thriving economy.
Introduction
Players will act as voyagers as they explore the HyperVerse, earning HVT by
participating in various activities offered throughout the virtual world. HVT is the
token that allows users to join the HyperVerse economy. It also provides users with
the option to govern and determine the future of the HyperVerse using the V-DAO
system. The V-DAO enables complete decentralization using smart contracts.
Furthermore, it allows voting on the future of the HyperVerse, preventing the passing
of any unfair policies that may ruin the HyperVerse economy.
1. Market background
1.1 Non-fungible tokens (NFTs)
Non-fungible tokens (NFTs) are digital assets that represent objects such as art,
collectables, and in-game items. NFTs are stored on a digital ledger known as a
blockchain that certifies the integrity of each asset and ensures that they're unique.
As a result, the NFT market has experienced exponential growth, having increased
by 2100% to US$2 billion in the first quarter of 2021. As of the third quarter in 2021
NFTs market is estimated to be worth an excess of US$10.5 billion.
1.2 Metaverse
The metaverse is an online virtual world incorporating augmented reality, virtual
reality and 3D holographic avatars. The term 'metaverse' was first coined in 1992 by
sci-fi author Neal Stephenson in his book "Snow Crash", which envisioned a world
where lifelike avatars interacted in 3D buildings and other virtual environments.
Corporations such as Meta and Microsoft are aiming to make this world a reality.
Using their already established footholds in both technology and social networking,
both are taking enormous strides in making Stephenson's metaverse a reality, with
projections that the metaverse market will be worth $US824 billion by 2028.
Contemporary depictions of the metaverse also have strong parallels to Game-Fi,
and what Game-Fi has tried to establish. Although most Game-Fi's environments
aren't the same as what Meta or Microsoft are aiming for, they do represent what it is
the metaverse is trying to achieve. A virtual world, where users can participate in
activities for enjoyment or financial reward, essentially replicating the real world.
1.3 Decentralized Finance (DeFi)
Decentralized finance (DeFi) aims to provide similar financial products to banks while
remaining decentralized and fair. Traditional banking allows for unclear and unfair
practices due to a lack of transparency. Those with superior information can take
advantage of those less informed and thereby create an uneven playing field. Users
also lack control when using traditional banking and trading platforms, especially in
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the Robinhood debacle in early 2021, where users were unfairly blocked from
trading. Decentralized finance aims to solve each of these problems using smart
contracts and blockchain technology.
DeFi offers lending, borrowing and other financial products without any central
authority. This can be achieved through peer-to-peer lending, where the
agreed-upon terms are enforced through smart contracts, providing complete
transparency for both borrowers and lenders. Generally, funds are stored in a
lending pool, funded by investors who receive interest based on their investment.
Funds can be borrowed by individuals who offer enough collateral, similar to the
rules of a traditional loan. Safeguards are set in place using stable coins so that
lenders will never lose their investments, regardless of the fluctuations in the
collateral price. Once the loan is paid off, the borrower receives their collateral back
and continues to hold their initial loan. Currently, there is roughly $US250 billion
locked in smart contracts; however, given the market size of traditional trading and
borrowing, the smart contract market is expected to grow exponentially. Today, equity
market capitalization is valued at over $US100 trillion.
Although this is only one example of decentralized finance, it provides the first-ever
safe and transparent alternative to the lending and borrowing problem, making it one
of the most significant advancements in the financial industry. The decentralized and
transparent system allows for a fair, safe, and profitable alternative to traditional
banking.
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2. The HyperVerse
To provide users with a decentralized platform to socialize from around the world and
play to earn, the HyperVerse is establishing a metaverse with the integration of
NFTs.
In this virtual multi-planet metaverse, users can connect with friends, experience
different cultures and lifestyles, create NFT items, start businesses and explore the
universe. The HyperVerse provides a fair chance to every resident in the galaxy, with
the community being governed by users with HyperVerse Token (HVT).
3. Life in the HyperVerse
In this virtual metaverse, each user is represented by an interactable avatar, which
imitates their motions and gestures in the real world. They can live a different and
exciting life in the HyperVerse compared with the real world.
3.1 Create avatars
Each user will have one main avatar that represents them in the HyperVerse. The
main avatar can be created based on users’ physical appearance or be modified
have fun, non-human characteristics. In addition, users will have the option to clone
themselves using HVT, allowing them to experience different lives.
Additionally, users can customize and create avatars to accompany them on their
journeys. These companions can be interacted with and will unlock unique
experiences. They are also recognizable by other users.
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3.2 Reside in the HyperVerse
When first entering the HyperVerse, users need to create their main avatar to start
their new space lives. To make a living, begin the space journey and establish their
business empire in the HyperVerse, users can acquire a personal space to live in.
There are two ways to obtain new personal spaces. First, users can acquire lands to
establish estates and develop cities using HVT. Users can receive rewards by selling
personal spaces to others after successfully establishing their cities. With the
development of the HyperVerse and the release of the space exploration function,
they will not be limited by a small piece of land. Adventurous users are able to
explore unknown areas and own a whole planet to establish a new empire.
If users do not have enough HVT to start a huge plan about city development, they
can purchase personal spaces listed in the marketplace and reside in those places
developed by other users.
When travelling to and exploring new areas, users need to use transportation
vehicles. For example, when exploring new planets, several users use HVT and
NFTs to team up for a space expedition. For a space expedition, vehicles such as
spaceships are essential. Once they land on a planet and claim ownership, they can
build teleport stations and use HVT to teleport anywhere in the HyperVerse.
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4. Tokenized Items
Everything you can see in the HyperVerse, from a cup of coffee to customized
avatars, and even whole planets, are all tokenized as tradable NFTs. There are two
different types of NFTs as follows.
4.1 HyperVerse-Native NFTs
Different planets contain different sources for users to explore, loot, and trade.
Sources vary from minerals to collectable alien creatures. Moreover, tradable NFTs
are not limited to independent items. The whole planet, which can be viewed as a
bundle, is also tradable on the trading platform.
4.2 Crafted NFTs
In HyperVerse, everyone can unleash their creativity to customize anything, such as
clothes, transportation and houses. Avatars that represent users, including both main
and customized avatars, are NFTs as well. Everything on the planet can be defined
by users. users are allowed to mint their own NFT items using HVT, and the crafted
items can be traded on the marketplace.
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5. Galaxy Pioneer
The HyperVerse aims to provide an entrepreneur-friendly ecosystem, which
encourages users to start their own businesses and hire others to work for them. If
starting a business sounds too complicated, users are also able to work as a Galaxy
Wanderer, looting and mining on different planets. There are infinite possibilities and
business ideas in the HyperVerse.
5.1 Galaxy Wanderer
Users are encouraged to make a living while exploring the galaxy. As a Galaxy
Wanderer, users can choose to work for other users as Galaxy Boosters or work
freely in the universe to harvest resources through mining and looting in different
planets or even join space expedition fleets.
5.1.1 Mining and Looting
Users can earn rewards when they spend time working on mining sites or by
participating in the looting of other planets.
5.1.2 Galaxy Booster
If users do not have time to or complete quests, they can choose to give out their
clones to a Galaxy Booster. Boosters will play the game using their clones to earn
HVT while taking a cut from the lootings.
5.1.3 Space expedition crew
Users can work on space expedition ships as crew members. As part of the fleet,
they will get a portion of the rewards.
5.2 Galaxy Entrepreneur
Users can also choose to start their own business in the HyperVerse. With our
unlimited business options, every user will be able to fulfil their business dreams in
the virtual world.
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5.2.1 Land and planet development
Planet developers are able to purchase and design the future use of a piece of land
or a planet and decide whether it's going to be a commercial or residential area. For
instance, planet developers can redesign a desert planet, turn it into an oasis, and
then build a new human habitat.
5.2.3 Manufacturing and Mining
Different planets have different types of resources and levels of abundance. Mining
companies can set up mining sites and factories on other planets, extract ore and
refine it into tradable resources.
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6. Space Expeditions
Other than the native planets and discovered space regions, the HyperVerse also
contains limited but numerous Mystery Planets. users will collaborate to discover and
develop them and form a space expedition with resources and HVT.
6.1 Pre-launch
The space expedition company founded by users can initiate space expedition
proposals and post their exploration plans on the community board in V-DAO.
Community users can invest in the expedition missions and receive a portion of the
total rewards acquired. When the community voting and crowdfunding hit the target
amount, they may proceed with their expedition.
6.2 Expedition rewards
The expedition fleet will be able to collect rare resources during expedition journeys
and have the chance to claim ownership of the newfound planets. In addition, the
discoverer has the right to craft the planet into NFT and trade it in the marketplace in
exchange for HVT.
6.2.1 Fleet level
The fleet level depends on the spaceship level, fleet size, number of crew members,
total energy and resources reserves. The higher the level of the fleet, the greater the
chance to find rare plants.
6.2.2 Planet rarity
The crew’s clone will stay on board during the missions. There will be 4 four different
rarities of Mystery Planets: Common, Rare, Epic, Legendary; the rarer the planet,
the more abundant the resources.
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7. HVT utilizations
HVT is a multifunctional governance token designed for the HyperVerse, with
applications in community governance, trading in the marketplace, depositing,
mining, upgrading, and crafting NFTs, and conducting space expeditions.
To better understand the utilities of HVT, users are advised to start from the basic
function – work as the medium of trading NFTs and services in the HyperVerse.
7.1 Multi-planet system
Humans have discovered and developed several planets in the HyperVerse, each of
which has its unique culture and resources. Every planet is a GameFi where users
will play to earn corresponding in-game currencies, which can be changed to HVT.
Users in the HyperVerse will loot the planet-specific resources in them and build
numerous space stations. Those resources have many utilizations include but are
not limited to upgrading or customizing NFTs, and trading for the planet-specific
currency.
7.1.1 Looting original NFTs
Every planet has its unique and rich resources like equipment, minerals and
creatures, which are all can be looted and then be traded. Some of them like
equipment and creatures are the original NFTs that can be upgraded or customized
by users in the future. The other NFTs like mineral resources are only consumables
in the process of upgrade and customization, but they are also tradable.
7.1.2 Upgrading and customizing NFTs
Resources looting from the planets and HVT are essential inputs when upgrading
NFTs. When the user spends resources and HVT to upgrade an NFT, a new NFT is
minted while the original NFT, resources, and HVT will be burned. The process of
customizing NFTs is similar to upgrade, but users are free to put in any resources
they want and change the appearance of NFTs.
7.1.3 trade for planet-specific currencies
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If the user does not plan to use out the resources for themselves, they can sell them
and earn planet-specific currencies. The planet-specific currencies can purchase
anything on the same planet, but are not applicable when trading other resources or
services. To improve the flexibility of their virtual assets, users are advised to
exchange those currencies into HVT in the marketplace. Only with HVT, users can
purchase any resources no matter which planet they come from.
7.1.4 Marketplace
The marketplace is a trading platform, where all the trading activities will take place.
Users will trade NFTs, services, and currencies inside it as described in the sections
before. The currencies include the in-game currencies generated from various
planets. The NFTs can be planet-specific resources looting from different planets or
crafted NFTs. For certain items and equipment, the marketplace is also assisting in
bridging the virtual and real world by allowing users to convert items between the two
worlds.
7.2 V-DAO
V-DAO is HyperVerse’s DAO (Decentralized Autonomous Organization). With the aid
of HVT, users can participate in the governance of the HyperVerse community
through voting and initiating new proposals. For example, users can raise new
business ideas, set disciplines for the whole HyperVerse, and even the future
functions of the HyperVerse.
7.2.1 Rights to vote
The voting rights are calculated from the balance of HVT in users’ wallets which are
connected with the HyperVerse. When the approval votes reach a certain level, the
proposal will be approved and be executed automatically by the smart contracts.
7.2.2 Business grants and support
In the HyperVerse, users can create new business ideas. The community will
subsidize the most interesting and creative business ideas by community voting
through the V-DAO. The V-DAO owns the smart contract of assets in the HyperVerse
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world. It subsidizes the project’s operations throughout the HyperVerse and allows
for autonomous community governance. Costing a small number of HVT, every user
has the right to initiate new proposals to be voted on by the whole community.
7.4 Galaxy Decentralized Capital
Galaxy Decentralized Capital (GDC) is a decentralized financial service provider in
HyperVerse. It provides lending and borrowing services and functions as a trading
platform for tokenized financial products. GDC will function to bring DeFi to the
HyperVerse. Hence, all the lending and borrowing activities in the HyperVerse will be
conducted through autonomous smart contracts via GDC.
7.4.1 Lending
GDC allows users to deposit their available HVT into the GDC Vault to earn interest.
As a result, users will receive a floating yield of return based on the total amount of
borrowing and lending in the GDC market.
7.4.2 Borrowing
Users can borrow HVT from GDC collateral from the HyperVerse or from the real
world to acquire HVT from the GDC. The interest rate will be transparent and
variable, depending on the total amount of lending and borrowing at a given time.
7.4.3 Tokenized financial product
Users can invest in tokenized financial products in GDC with HVT, allowing them to
bridge their virtual assets with the real world. The tokenized financial products
provided in GDC include tokenized stocks, options, bonds, real estate, and more
tokenized financial derivatives that will be added to GDC in the future.
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8. Token distribution
HyperVerse will issue a total supply of 10 billion HVT tokens, all of which are
obtained by mining. HVT tokens have multiple utilities in the HyperVerse. The entire
HyperVerse consist of lots of planets and space stations, where HVT tokens are the
governance tokens for the development of the ecosystems. The tokens gained by
Gamefi can be swaped with HVT tokens with certain ratios. HVT tokens can be used
to mint, upgrade and customize NFTs, swap for planet-specific currencies, form
space expeditions, and trade in the marketplace.
8.1 Contribute to earn
At the beginning of the HyperVerse ecosystem development, the only mining method
open to the community is ‘contribute to earn’. Users inject assets for the
development of their planet, and this is considered as the ‘contribution’. The more
contribution a user makes, the more mining rewards the user gains.
For the rest of HVT, the HyperVerse gives miners who want to participate a high level
of freedom. With the development of the HyperVerse, the rest of the HVT tokens will
be gradually released via different mining methods. The mining methods to be
released in the future with the allocation of:
● 20% reserved for PoS
● 20% reserved for PoST
● 20% reserved for PoB
● 10% reserved for liquidity mining
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8.2 Proof of Stake (PoS)
The HyperVerse provides users with a relatively traditional mining method – proof of
stake. Miners stake their HVT so that they will have rights to check the validity of
transactions. The longer and more HVT miners stake, the higher possibility that the
miner be chosen as the validator and receive HVT as rewards. Thus, those users
who prefer a more resistant and more developed method are advised to mine HVT
by PoS. Miners with are willing to make a longer term investment are recommended
to enter the PoS mining pool and stake their HVT.
8.3 Proof of Space-Time (PoST)
Derived from PoS, Proof of Space-Time is gaining its popularity these days. The
HyperVerse will provide miners this choice as well. Miners who have large amount of
storage space may receive satisfying rewards via this method.
PoST requires miners to prove that they have truely provided storage capacity over a
period of time. Similarly, miners will receive HVT for rewarding their storage
contribution. The HVT rewards is proportionate to the disk space miners provide and
the length of time period.
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8.4 Proof of Burn (PoB)
To participate in HVT’s PoB mining, miners initially need to hold some HVT because
they need to destroy them to generate new blocks. Miners will prove that they have
sent a certain amount of HVT to the black hole to win the rights to be selected as the
validator to the new block. The chance to be chosen is proportional to the amount of
HVT miners burnt during a period. After the new block is generated, miners will gain
their awarding HVT.
This mining mechanism ensures that HVT will keep deflating over time and protect
the price of HVT. Thus, the HyperVerse plan to reserve enough amount of HVT for
PoB to benefit each participant in the HyperVerse community.
8.5 Liquidity Mining
To improve the liquidity of HVT, the HyperVerse is opening the liquidity mining pools
to assist in accelerating the transaction speed. Users can stake pair of coins like
HVT-HSDT, HVT-BTC and HVT-ETH for a given period of time. Then they will
become liquidity miners and be eligible to receive HVT rewards for contributing
tradable coins for other HVT users.
The HyperVerse users need HVT to mint, upgrade and customize NFTs, swap for
planet-specific currencies, form space expeditions, and trade in the marketplace.
The more the HVT users, the higher liquidity they need, so the liquidity providers can
receive higher interest for their contribution.
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9. Roadmap
Q1 2022
● Release HyperVerse official website
● HyperVerse begins to develop space stations and GameFi
functions
● Complete HyperVerse smart contract infrastructure
Q2 2022
● The initial HVT can be mined via “contribution to earn”
method
● The marketplace enters alpha testing
● HyperVerse enters alpha testing
Q3 2022
● The marketplace enters beta testing
● HyperVerse enters beta testing
● ‘Contribute to earn’ mining functions become available, 30%
of HVT is unlocked
● The marketplace is officially released and users are allowed
to trade NFTs inside
Q4 2022
● The official version of HyperVerse is released
● Release Jurassic Planet
● Release workshops where users can craft their own NFTs
Q1 2023
● Release Merlin's Fortress
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● Start to develop HyperVerse AR and VR functions
● 20% of HVT is open to be mined via PoS
● 20% of HVT is open to be mined via PoST
● Allow users to experience multi-planet life via clone
characters
Q2 2023
● Release Warzone
● New function: customizing companion characters
● Begin to build V-DAO community smart contract structure
Q3 2023
● Release Asgard
● V-DAO community governance system enters alpha testing
● 20% of HVT is open to be mined via PoB
● 10% of HVT is open to be mined via liquidity mining
Q4 2023
● Release Wonderland
● AR and VR functions enter alpha testing
● V-DAO community governance system goes live
Q1 2024
● Release Tomb of Stars
● Release V-DAO community governance system
Q2 2024
● AR and VR functions enter beta testing
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● Space Expedition function enters alpha testing
● The function of founding companies goes live
Q3 2024
● New areas with numerous unknown planets in the
HyperVerse are opened
● Users are able to form space expeditions and explore the
newly opened areas
Q4 2024
● Uses are allowed to decide the future of the HyperVerse via
V-DAO community
The first half of 2025
● HyperVerse officially release AR and VR experience
The second half of 2025
● Corporate with business partners to convert customized
NFTs into the real world
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10. Summary
HyperVerse is a decentralized metaverse satisfying social and financial needs for all
people around the globe. People have the opportunity to live an exciting life, where
they can develop, trade and create digital assets in a futuristic virtual world.
Furthermore, users have the chance to grow their real-world wealth by exploring and
mastering the intricate and diverse universe, that is, the HyperVerse.
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