As we embark on mainnet, it is only our duty to explain in more detail how one can earn the $HOUR token during their precious happy hour moments. After all, there’s got to be something you can get in return during happy hour besides throwing dough on shot after shot and getting wasted.

Think of the $HOUR token as your reward for partaking in happy hour.

In order to starting earning $HOUR, you must start a LITT session, or better phrased as:

Getting LITT.

What does LITT stand for?

Latent Initialization of Token Truss (LITT)

In simplest terms, getting LITT doesn’t start until a Drinker initiates a LITT session at a PDE.

We’re sure everyone is familiar with the concept of staking and POS chains. Staking is when token holders pledge a certain quantity of tokens to the protocol to be selected as validators for the blockchain and validate transactions. The validators would receive staking rewards from the new tokens minted from new blocks and the POS chain gets network security from the validator community. 

The happyhourDAO decided to take things to the next level with Latent Initialization of Token Truss (LITT) model of staking. LITT describes the pre-manifested state of staking when the drinkers are ready to take their 0.01 ETH to the network to earn $HOUR. Let’s break this term down word for word.

Latent - The act of staking is the underlying security model for the protocol. Therefore by definition it is always subtlety running in the background, providing security for the network and rewards for the validators.

Initialization - LITT describes the initial activation process of earning $HOUR by staking 0.01 ETH to the network.

Token - Pretty self explanatory, gotta stake tokens to earn tokens!

Truss - Truss is traditionally defined as an assemblage of members (such as beams) forming a rigid framework, usually used in the context of a bridge. In the Web3 context it refers to the act of securing a network with individual token locks. In similar fashion as a number of beams can come together and form a rigid framework, a series of individual token locks secures the happyhourDAO network and provides the crucial protocol security required for $HOUR token distributions.

Plain simple token staking will be replaced in the future by Latent Initialization of Token Truss as it is a more accurate and precise description of the process. HappyHourDAO is set on the path to convert the Web3 world to get LITT one drink at a time.

So how does a Drinker initiate a LITT session then?

When using the happyhourDAO Dashboard, the Start LITT functionality will prompt a Drinker to input the said PDE’s PDE ID and secret access code in order to call the HOURv3’s solidity contract’s .startHOUR() method. The inputted PDE ID and access code must be valid and compatible in order to successfully call the method. On top of that, a Drinker must stake at least 0.01 ETH during their LITT session. Consider this amount as a deposit or their “proof of stake” amount to be used as collateral.

As mentioned above, Drinkers need to start a LITT session by calling the .startHOUR() method in the Dashboard. This method will run through the required checks to make sure the Drinker is not currently in an existing LITT session, their inputted PDE ID & access code are valid, and that they have at least 0.01 ETH staked.

    function startHOUR(uint _PDEid, uint _accessCode) public payable {

        bool validPDE = false;

        for (uint i = 0; i < pdes.length; i++) {
            if (pdes[i]._PDEid == _PDEid && pdes[i]._accessCode == _accessCode) {
                validPDE = true;
            }
        }

        require(validPDE == true);
        require(msg.value == happyHourFee * (10 ** 16), "Invalid Happy Hour Fee.");
        givePoolDrinkingId();
        drinkingIDtoPDEid[drinkingID[msg.sender]] = _PDEid;
        happyHourFeePool += 1;
        timeIN = block.timestamp;
    }

How does a Drinker obtain a PDE’s PDE ID and access code?

All PDEs will be required to keep their PDE ID public and in sight upon arrival of said PDE. The secret access code can only be obtained verbally from a bartender of the PDE. So for example, upon arrival and entry of the PDE, a Drinker can scan a QR code in sight up on the main entrance area. This QR code will be one of the details included in a PDE Card, which will also contain basic information of the PDE. The access code will then need to be given to the Drinker by a bartender upon request. This access code is what will prevent Drinker that are not physically at a PDE to game the network. PDE owners also have the ability to change their PDE’s access code whenever.

A LITT session is only valid for 8 hours in order to earn the standard $HOUR per hour rate of 100 $HOUR. If a Drinker ends their LITT session before 8 hours, they will receive the normal rate. If a Drinker leaves their session open for more than 8 hours, they will be “penalized” by only earning a flat amount of 100 $HOUR. Again, the network needs a penalty system in place to prevent Drinkers from gaming the system and earning unfair amount of $HOUR. A Drinker can only ever open one LITT session at a time. If for example, a Drinker wants to leave PDE A and bar hop to PDE B, the Drinker will need to end their LITT session at PDE A first in order to start a new LITT session at PDE B. This is logical and also fair play for the PDE. A Drinker shouldn’t be earning commission for PDE A if they are having a ball at PDE B.

A session can be ended at any time by navigating to the Dashboard, having your public address verified, and the Dashboard will call the .endHOUR() method from the smart contract.

    function endHOUR(address payable wiped) public {

        uint PDEindex;
        address PDEcommission;
        require(msg.sender == wiped);
        timeOUT = block.timestamp;
        hoursSpentDrinking = (timeOUT - timeIN) / 60 / 60;

        for (uint i = 0; i < pdes.length; i++) {
            if (pdes[i]._PDEid == drinkingIDtoPDEid[drinkingID[msg.sender]]) {
                PDEcommission = pdes[i]._address;
                PDEindex = i;
            }
        }

        if (hoursSpentDrinking < 8) {
            nullPoolDrinkingId();
            happyHourFeePool -= 1;
            wiped.transfer(happyHourFee * (10 ** 16));
            uint HOURearned = hoursSpentDrinking * (HOURperhour * (10 ** 18));
            uint PDEcommissionEarned = HOURearned / PDEcommissionRate;
            _mint(wiped, HOURearned);
            _mint(PDEcommission, PDEcommissionEarned);
            emit endHOURresults(hoursSpentDrinking, HOURearned, PDEcommissionEarned, PDEindex);
        } else {
            nullPoolDrinkingId();
            happyHourFeePool -= 1;
            wiped.transfer(happyHourFee * (10 ** 16));
            uint PDEcommissionEarned = (HOURperhour * (10 ** 18)) / PDEcommissionRate;
            uint penalHOURearned = HOURperhour * (10 ** 18);
            _mint(wiped, penalHOURearned);
            _mint(PDEcommission, PDEcommissionEarned);
            emit endHOURresults(hoursSpentDrinking, penalHOURearned, PDEcommissionEarned, PDEindex);
        }

        
    }

As a reminder, all PDEs will automatically be earning 10% of your total $HOUR earned. Consider this as a “tip” for the PDE.

$HOUR tokenomics

So what can one do with $HOUR tokens after earning them?

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.

When enough $HOUR tokens have been accumulated, drinkers can then burn them in exchange for $DRNK, which is the governance token of the happyhourDAO. The governance token of $DRNK will enable voting rights, HHIP (happy hour improvement proposals) requests and approvals, premium access to other whitelist nightlife events, and other premium benefits.

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 $DRNK governance token, with all its benefits, can then in turn steer the happyhourDAO in building a larger engaged ecosystem amongst F&B establishments. The happyhourDAO will be equipped with a VC arm in funding drinking establishments to attract more drinkers to their spot. As more drinkers are attracted to better developed drinking establishments, the more $HOUR tokens are earned which leads to more activity in the happyhourDAO. It’s a positive feedback loop we hope will lead to more real-life use cases in the physical world.

In conclusion, what’s there to not love about getting LITT?!

You get to enjoy happy hour the way it usually is, and at the same time, earn the $HOUR token, which will become web3’s first Drink-To-Earn token powering the F&B industry.

Cheers.