What the hell is happyhourDAO?

What the hell is Drink-To-Earn?

What the hell is the $HOUR token and $DRNK token?

Your questions answered below in an easy to digest read. No code shown. Just simple to read words.

What is the purpose of happyhourDAO?

The happyhourDAO aims to provide an open, web3 community connecting the post-pandemic recovering F&B industry with plebs in the metaverse through its native ERC20 token, $HOUR. Not only do drinkers and F&B merchants have the opportunity to earn from their engagement in the traditional social gathering we sometimes coin as "happy hour", but also to provision a grassroots fundraising network in envisioning what the new F&B industry should look like. It shouldn’t be that people have earned the right to attend happy hour from their relentless hard work they put in at the office, but rather their happy hour attendance should also be rewarded.

What we’ve been seeing…

Food & Beverage (F&B) establishments have been hit hard during the past 2 years of the global pandemic. Many were shuttered in the face of government imposed lockdowns and social distancing measures. The usual bar goers resorted to at-home drinking with many setting up their own makeshift bar to emulate the feeling of going out. The customary happy hour slowly faded away as friends and colleagues were no longer able to drink together in person and enjoy one’s company.

But as we see the global economy slowly opening back up with pandemic restrictions becoming obsolete, people are starting to go back to normal. But it’s not the same anymore. Favorite bars and nightlife venues are no longer around. It’s safe to say the F&B industry is still struggling.

What is needed is a modern incentive to connect post-pandemic F&B establishments to the new post-pandemic modern drinker. What is needed is an infinite positive feedback loop between happy hour goers and F&B establishments through cryptography.

The new modern happy hour goers need the incentive to hit the bars again…

…and the same can be said for those bars themselves.

In this community, we propose a solution to the lack of incentive for engaging in the once blissful, customary happy hour and to further web3 adoption amongst F&B merchants so that any future arbitrary lockdowns won’t affect their cash flows ever again. Because every web2 bar needs itself a web3 bar.

What we envision…

$HOUR being the official currency within the global F&B industry.

The global F&B industry has traditionally been a fragmented market for obvious purposes. Brick and mortar bars, clubs, and restaurants only serve their local markets. But what if these same businesses can conduct transactions with other customers not served in their local markets? Could there be an incentive system devised so that the same local F&B merchants can sell their specialty tastes as a white label to other F&B merchants located across the globe from them? Could there be a payment network allowing drifters and travelers to still be able to buy a drink at spot in a foreign country without having to exchange for the local fiat currency? Could there be a method to get on a premier whitelist for a new club opening party just by depositing a certain amount of tokens to an address instantly? Could there be a way for you and your friends to reserve your favorite table at the city's hottest rooftop lounge without the uncertainty of a no show for the lounge? The architecture of the $HOUR token was designed and engineered to fill those needs posed above in a seamless, efficient, web3 manner. Whether it be used for loyalty tokens, membership tokens, reservations, payments, bottle deposits, or etc., $HOUR is represented to allow all F&B merchants to speak the same language, regardless of geographic region/culture. We all want to enjoy the good times with our friends. We all don't want to have to worry about small nuances and friction that come along with a night of drinking. We all just want to be able to kick back at happy hour.

An open, organic DAO community for web3 natives interested in raising strategic investments/funding for their local F&B merchants.

The demographics of web3 are statistically skewed towards the millennial generation with some outliers in the Gen X and Gen Z. This demographic do have a high tendency in the outgoing lifestyle of being the club-goer and trendy nightlife chaser. There is a huge connection between web3/crypto natives and the F&B industry. The population is changing and new expectations from the F&B industry need to be able to adapt to what new market demands call for. Millennials are reshaping the food and beverage scene and these establishments need to be able to resonate with what they want and their own technological behavior.

The traditional music-based entertainment bars aren't cutting it these days for millennials. They yearn for something more interactive and engaging. Social media has been shaping the way millennials frequent bars as they seek the most eye popping aesthetic bar as there way of deciding on bar stops. The millennial population is altering and expanding the very definition of entertainment for bars. Some bars has transformed into a paint and sip classroom…or even a yoga studio.

But unfortunately, we see time and time again our favorite bars shutting down. This was especially true during the pandemic era. But as we see the economy open back up again, why not give more empowerment to the bar goers to decide on what F&B merchants need financial help and what new F&B merchants can they invest in. This is what the happyhourDAO is positioned to be. An open, organic DAO community for web3 natives interested in raising strategic investments/funding for their local F&B merchants. Giving millennials and web3 natives more of a say in what they want to see in the F&B scene.

An increased adoption of web3 by the F&B industry and a push for those same F&B merchants in galvanizing their digital representation in the metaverse.

There's no doubt that the emerging metaverse, which the term itself has already been around for many years, is now recently starting to becoming a reality due to many technological factors maturing and coming together. The crux of it all is the decentralized blockchain technology which presumably makes the metaverse less controlled by a certain entity.

Just as significant a factor in the metaverse trend is the coronavirus pandemic, which has radically altered lifestyles across the planet. With people spending so long in Zoom meetings for work, and with soaring use of video games as people seek to enter more colorful and exciting environments without leaving the comfort and safety of their homes, it’s natural for tech companies to look for ways to capitalize on the situation by bridging these two needs.

Traditional companies and industry have already entered the space with a splash. Everything thing from fashion, to beauty tech, to sports, and etc. have already created some form of their brand in the metaverse. Virtual 3D worlds such as Decentraland and SandBox have been popular metaverse structures allowing the random web3 native to take stroll through a new world.

It's time for the F&B industry to also cross the chasm into the metaverse. Giving metaverse-goers a chance to enter their digital representation as a virtual club or restaurant will not only be good business, but also good for brand exposure. Wouldn't you want to have your self-avatar virtually visit your favorite bar in the metaverse?

How to get involved in happyhourDAO?

The happyhourDAO will be powered by the Happy Hour Protocol Engine, which is the heart and soul of the whole ecosystem. This is what will glue together the drinkers, Participating Drinking Establishments (PDEs), devs, investors, and other stakeholders. All the interaction will be done through the Happy Hour Protocol Engine which will be deployed as a smart contract on the Ethereum network.

Breakdown of participants in the happyhourDAO ecosystem:

• Drinkers (holders of $HOUR):* These are the users and community members interacting with the Happy Hour Protocol Engine. These are the happy hour goers, nightlife fist-pumpers, bartenders, and all other alcoholics who make it a priority to support the F&B industry.*

• Participating Drinking Establishments (PDE):* These are the F&B merchants and businesses hosting drinkers. The local bar, the city’s premier club, the skyline lounge, the speakeasy, the hotel restaurant, and etc. All these F&B merchants would be considered a PDE in the happyhourDAO ecosystem.*

• Drunkards (holders of $DRNK):* These are the all-star drinkers who have been able to accumulate enough $HOUR tokens to burn and mint $DRNK tokens, which fully enable them to be official members of the happyhourDAO.*

F&B merchants are at the brink of something new with web3. The happyhourDAO is in position to ready traditional F&B brick and mortar merchants in participating in the internet’s next frontier. The Happy Hour Protocol Engine is geared up with provisions with an open and permissionless onboarding for F&B merchants to be valid PDEs. Each PDEs in the network are eligible for a % of HOUR earned by every drinker. This % rate will start at 10% with the ability for future alterations based on the community’s decisions.

As a PDE grows in popularity in the network, the happyhourDAO is positioned to further fund that PDE in applicable business aspects the community seems viable. This funding also includes support for web3 onboarding into metaverse realms such as in Decentraland, The Sandbox, Otherside, and others.

Who are the Drinkers?

The local dive bar goer, the fist pumping clubber, the high class fancy rooftop lounger, or the occasional casual drinker, this is the DAO for you.

Drinkers (holders of $HOUR): These are the users and community members interacting with the Happy Hour Protocol Engine. These are the happy hour goers, nightlife fist-pumpers, bartenders, and all other alcoholics who make it a priority to support the F&B industry.

Simply locate a PDE, stake 0.01 ETH, input the PDE’s ID & access code via the happyhourDAO virtual interface (aka app), and start earning $HOUR by the hour. It’s that simple.

What is the purpose of $HOUR?

Based on real-time hours spent at happy hour, drinkers can earn $HOUR tokens via the Happy Hour Protocol Engine. In exchange, these earned $HOUR tokens have a multi-functional utility such as being able to use those $HOUR tokens in purchasing discounted beverages at participating bars/nightclubs. They also can allow drinkers to exchange them into other tokens of their choosing. And with the metaverse spawning nightlife entrepreneurs to take their venues digitally online, $HOUR tokens can also be used at those web3 nightlife venues.

We envision the novel Drink-To-Earn model as an infinite positive feedback loop. As drinkers earn $HOUR by the hour, drinking establishments can earn a commission of the $HOUR earned by drinker. Freshly earned $HOUR tokens can then be used at other participating drinking establishments in purchasing deeply discounted drinks or to be burned to earn the happyhourDAO’s governance token, $DRNK.

The $HOUR token will conduct a fair launch with zero issuance at contract deployment. Issuance rate will vary based on network growth and $HOUR earned. The ratios of both $HOUR/hour and $HOUR to $DRNK burn minimum threshold will all be adjustable based on the consensus of the community’s outlook.

Who are the PDEs?

The local bar, the city’s premier club, the skyline lounge, the speakeasy, the hotel restaurant, and etc.

Participating Drinking Establishments (PDE): These are the F&B merchants and businesses hosting drinkers. The local bar, the city’s premier club, the skyline lounge, the speakeasy, the hotel restaurant, and etc. All these F&B merchants would be considered a PDE in the happyhourDAO ecosystem.

And what about that $DRNK token?

The $DRNK governance token is the official membership token of the happyhourDAO. Any amount of $DRNK governance token will be accepted and considered sufficient to be part of the happyhourDAO. The larger amount of $DRNK governance tokens owned allows for a larger percentage of influence you can have on any happyhourDAO participation. The below outlines the types of privileges and events you can participate in.

What’s the end goal of happyhourDAO?

The ultimate goal of the happyhourDAO is to facilitate a healthy ecosystem between web3 users and real world F&B partners, or what we will refer to as PDEs. The model of Drink-To-Earn is not to solely encourage endless amounts of drinking, but rather a healthy and rewarding experience while attending happy hour events. This reward also needs to be mirrored by the PDEs as well and encourage improvement in business by the PDE.

The happyhourDAO VC venture aims to foster the ecosystem of PDEs as well as encourage and onboard web3 adoption amongst these merchants. Their business model shouldn’t just be limited to the four walls they are grounded in.

The happyhourDAO VC will be grounded in 3 pillars:

1. Fostering the new re-envisioned modern F&B industry

2. Supporting pandemic stricken F&B merchants

3. Advising F&B merchants on web3 development

Wen airdrop?

There is none.

Start earning $HOUR yourself by getting #LITT at your next happy hour.

The Random House Dictionary of American Slang dates “Happy hour,” as a term for afternoon drinks in a bar, to a Saturday Evening Post article on military life in 1959. The article detailed the lives of government contractors and military personnel who worked at missile-tracking facilities in the Caribbean and the Atlantic. “Except for those who spend too much during ‘happy hour’ at the bar — and there are few of these — the money mounts up fast.”

Happy-hour-goers shouldn’t always have to feel bad when splurging their money at the bar, let alone seeing the result of rounds and rounds of shots. They deserve incentives for just being able to live and be merry. The $HOUR token is that incentive for happy-hour-goers and all types of drinking establishments. Let’s aim to bring this untapped demographic to web3.

Let’s bring happy hour to the metaverse.