frequently drunk asked questions

1. TipsyCoin ($tipsy) FAQ

TipsyCoin ($tipsy) is a deflationary coin that is launched on BSC. $tipsy will be the preferred currency to buy NFTs that will be used in TipsyVerse – our open-world metaverse game.

TipsyVerse 1.0 is launching in Q3 of 2022 on Minecraft and TipsyVerse 2.0 is expected to have its pre-alpha release in 2023.

$tipsy is launched as a community focused coin that will foster love, joy and laughter between $tipsy holders. Being tipsy makes us happy, and being happy makes the world a better place. 

As a deflationary currency, $tipsy earns its holders rewards (more $tipsy) automatically, without the need for staking the coins anywhere.

A staking feature will be introduced where users can earn $gin (our in-game currency) as rewards; staking also allows holders to enjoy special in-game benefits in TipsyVerse. $tipsy holders can also participate in the project’s DAO features to vote on certain decisions.

We look forward to welcoming you on our Discord.

Earn Passive Rewards simply by holding onto $tipsy. To encourage buying and holding, there’s no buy tax, but a 10% sell tax when $tipsy is sold. Part of the tax gets redistributed back to all wallets hodling Tipsy.

Stake $tipsy to earn $gin (our in-game currency) and in-game benefits. A staking feature will be introduced in Q2 2022 where users can earn $gin as rewards; staking also allows holders to enjoy special in-game benefits in TipsyVerse.

Voting Rights. Have a say in the development of the game. $tipsy holders get to vote (weighted by how much $tipsy they hold) and take part in shaping the future of TipsyVerse.

$tipsy is currently available for buying on PancakeSwap. It launched on 15th March 2022 (A.M. EST) after extensive testing of the smart contracts and going through a comprehensive audit.

Follow our detailed How to Buy guide. As the $tipsy community grows, we will be listing $tipsy on centralized exchanges. P.S. don’t buy too much TipsyCoin or you will get drunk.

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$tipsy is limited in quantity. A maximum of 100 billion $tipsy was minted at launch and no more tokens will ever be minted. All the $tipsy was deployed fairly at launch. There will gradually be less $tipsy in circulation due to our buyback & burn mechanism.

We penguins want to enjoy the benefits of holding $tipsy too, so our 10% team allocation (for working hard) is vested over 12 months. We enjoy making the world a better place, so 3% of $tipsy supply is allocated to meaningful causes right from the start. 19.7% of $tipsy supply is utilized for marketing and 4.8% is allocated for community engagement. R&D into the metaverse (TipsyVerse) and future partnerships are exciting (view our roadmap), so we have a separate 5.5% apportioned for these initiatives. Expanding $tipsy to centralized exchanges will require us to provide additional liquidity – we have allocated 7% of $tipsy supply for this. The largest allocation (50% of $tipsy supply) was deployed entirely to the PancakeSwap liquidity pool at launch.

A fun filled community focused coin that cares about giving back. $tipsy is limited in quantity with a max supply and together with its buyback & burn mechanisms, there will gradually be less $tipsy in circulation. With superior smart contracts that deter whales & bots, TipsyCoin has a strong security policy that includes extensive beta testing, an anti rug pool element, liquidity locked for 5 years, and an audit by CertiK before launch. The tipsy team is here to stay with equity vested over 12 months. $tipsy is the world’s first coin that has a zero buy tax and only a sell tax, created to foster a tight bond between holders and to reward long-term participation in the project through passive rewards. We encourage you to read our highly analytical and technical whitepaper.

As a hyper-deflationary currency, $tipsy will be successfully integrated into TipsyVerse. The use of TipsyCoin is revolutionary in many aspects and players in TipsyVerse can purchase NFT items using $tipsy, as well as stake $tipsy for Tiering Benefits.

TipsyCoin is limited in quantity. 100 billion $tipsy has been minted at launch and no more $tipsy will ever be minted again. All the $tipsy is deployed at launch and no more will be created. There will gradually be less $tipsy in circulation due to our buyback & burn mechanisms.

The liquidity pool of the 50 billion $tipsy deployed at launch on PancakeSwap is locked for 5 years. This illustrates our immense commitment to this project. With regards to the other 50 billion $tipsy as seen on our tokenomics, this is how it is distributed:

10 billion $tipsy = Team Supply. This is vested over 12 months. It shows the founders’ commitment to the project. If the founders themselves are in for the long-haul, you should be too, because TipsyVerse (our open-world metaverse game) will be massive.

19.7 billion $tipsy = Marketing. You are probably here right now because you would have heard of us through our various efforts: partnerships, advertising, endorsements, media, or word-of-mouth. In any case, these cost money to execute. A massive marketing budget just means that a massive user acquisition program is in place, and so we anticipate the number of new users (demand) outweighing the supply of these marketing funds touching the market (i.e. $tipsy from this marketing budget may have to be sold to fund advertisements / user acquisition, with the pros of increased demand outweighing the cons of this supply reaching the market). As no new $tipsy would ever be generated, it is in the best interests of the $tipsy team to utilize the marketing budget wisely since there is only this finite amount ever available, and you will notice that we are already growing our reach effectively.

5.5 billion $tipsy = funds for Future Development. This includes development for TipsyVerse, R&D for VR integration, research into prototyping bodysuits, etc. As we add value to our community, the price of $tipsy will only increase since $tipsy will have immense utility for TipsyVerse. Again, any potential $tipsy sold to fund our Future Development has a negligible impact on the coin price in comparison to the increased value the project delivers.

7 billion $tipsy = reserved for costs to expand to Centralized Exchanges, with mainly an allocation for Liquidity Pools in these CEX listings. It is without doubt that any new listing of a coin on a centralized exchange (such as Binance or Crypto.com) would cause the coin’s price to skyrocket. Therefore, the allocation of such a budget for TipsyCoin is fundamental evidence of the team’s interest to expand $tipsy’s adoption and liquidity.

4.8 billion $tipsy = Community Engagement. This budget allows us to reward our community and to preserve a strong community of holders. A strong community = reduces selling pressure of the coin anyway.

3 billion $tipsy = Charity. Changing lives is so close to our hearts. No exceptions. We have already saved children and animals, and we will continue to make the world a better place.

In summary, if any part of the other 50 billion $tipsy ever touches the market, the benefit of $tipsy’s price increase (through added value of the project) way outweighs any impact in the increased availability of $tipsy being available for users to purchase.

$tipsy launched fairly, through a public sale on 15th March 2022 (A.M. EST). Everyone had an equal chance to buy since there were no presales or VC allocation.

When the Liquidity Pool (LP) is locked, it means that the smart contracts do not allow us to remove the liquidity from the pool. The multi-sig wallets do not override this. In the crypto world, it is a significant commitment (and not a norm) for a project to lock its LP for 5 years like we do.

$tipsy is not a meme coin. $tipsy is a game-fi token and has immense utility for TipsyVerse. Unlike SafeMoon, we do not have a buy tax and only a 10% sell tax, to create a strong and tight community of holders.

A detailed comparison is explained in our whitepaper.

You can do multiple transactions and buy as much TipsyCoin as you want. Max transaction is 500 million TipsyCoin per transaction, but you can execute as many transactions to buy as much $tipsy as you like. Hold your $tipsy for long-term because when TipsyVerse is released, $tipsy will only get more valuable. Decentraland’s currency (MANA) and Sandbox (SAND) are examples of metaverse games that have accomplished multi-billion dollar coin valuations.

You should not deposit your $tipsy anywhere. We will never ask for your private keys or your wallet passwords, so please keep them safely with you. You will automatically earn $tipsy just by holding it in your wallet. Keep your $tipsy safe, and watch your $tipsy balance increase automatically.

We will be introducing a staking mechanism where users can earn $gin (our secondary currency) as rewards; staking also allows holders to enjoy special in-game benefits in TipsyVerse.

This will be done strategically during downward market trends or whale dumps. The burns would enable $tipsy to maintain price stability and an increase in value due to a diminishing supply of $tipsy. This is why $tipsy is a hyper-deflationary token.

We consider the opinions of our community and have introduced a DAO where $tipsy holders are able to vote on the buyback and burn decisions.

A $tipsy holder is automatically qualified to be a TipsyDiamond, with a wallet balance of at least 100 million $tipsy. The holder would have to verify their wallet balance through a custom role in our Discord server. Perks for TipsyDiamonds include 1 free land NFT per 100 million $tipsy, real-world perks such as a gold-plated coin (set with a diamond) among other exclusive merchandise, and access to an exclusive chat group where TipsyDiamonds form an exceptionally closely-knit bond.

2. TipsyVerse FAQ

TipsyVerse is a Minecraft Play-to-Earn game releasing in Q3 2022. The experience is like an MMORPG, where players progress through a story quest and participate in various activities such as fighting mobs, competitive events like kart-racing, and resource trading.

An open-world metaverse game created by penguins for humans, TipsyVerse will connect to your wallet and load your exclusive NFTs for the world to envy. Players can customize their character with numerous wearables, purchase vehicles and buy land to build and design homes. All these items are in the form of NFTs.

As TipsyVerse is based on a storyline adventure, there will be an array of quests for players to partake in such as various quests and dungeon crawls. Since NFTs have varying rarities, players who acquire rarer NFTs are able to trade them for a profit in the secondary market such as on OpenSea. All NFTs are individually identified and numbered, and are stored on the players’ wallets, just like how their $tipsy and $gin is kept.

Gamers can also unwind and explore TipsyVerse to make friends, socialize in clubs and concerts and develop relationships. A multitude of games such as go-karting, skydiving and Battle Royale are available, or players can stake their $gin in the casino to partake in roulette or poker.

The TipsyVerse Demo Server is out now.

TipsyVerse 1.0, powered by Minecraft, will be launched in 2022 following the launch of TipsyCoin. This version of the game will already have NFT and blockchain interoperability so you can use your NFTs in daily quests and participate in activities and mini-games.

The Alpha-Release of TipsyVerse 2.0, which will be built on Unreal Engine 5, is slated for 2023 and a PC (desktop) version will be available first, followed by a mobile version. Virtual Reality (VR) integration will be released subsequently.

TipsyVerse is already in development by a highly competent team of sophisticated 3D animators and line developers. When it is fully released, TipsyVerse will be compatible with Oculus Quest 2 and HTC Vive.

Dual-Currency Mechanism
TipsyCoin ($tipsy), our primary currency, is deflationary and earns its holders passive rewards automatically. We are also deploying a dedicated currency for in-game transactions ($gin).

Having 2 currencies allows TipsyCoin to appreciate in value alongside the game’s popularity, as selling pressure does not come from players needing to cash out $tipsy from their play-to-earn income. This is unlike $MANA (Decentraland) or $SAND (Sandbox) that function as both the primary governance token as well as their in-game currency issued as rewards.

Read more about our approach.

The Game
TipsyVerse is positioned to utilize Unreal Engine 5 (UE 5), the latest in gaming tech, given that UE 5 is only fully releasing in early 2022 (note that games such as Decentraland and Sandbox have been developed in the earlier years, and therefore, they may not be able to transition to UE 5). UE 5 would allow TipsyVerse to deliver unparalleled graphics.

In TipsyVerse, we have a huge emphasis on character progression and a creative storyline; the game will feature a multitude of weather conditions and terrains. TipsyVerse will have daily quests for players to engage in, earn $gin rewards and NFT drops. TipsyVerse is the first of its kind.

$tipsy is a deflationary currency and no new $tipsy is ever going to be minted / created. As TipsyVerse increases in adoption with new players joining, continual rewards need to be provided for users. This means that a currency that can be minted / created on demand, is the best solution to reward players since TipsyVerse is a play-to-earn game, with $gin being rewards to players (together with NFT drops).

$gin will have sufficient utility too, including being required for in-game potions, tools and consumables. As evident in economics, deflation discourages spending, and $tipsy is a deflationary currency. Players may be less incentivized to use $tipsy to spend on in-game consumables. $gin can also be used in TipsyVerse’s Grand Gin Casino (GGC). We have planned burn mechanisms for $gin too.

$tipsy has immense utility. Besides earning passive rewards, players can stake $tipsy (which would reduce the selling pressure of $tipsy) to earn $gin, and in-game benefits. $tipsy can also be used to purchase our NFTs. Note: NFTs are not treated as “expenditure” or “consumables” like the in-game consumables are treated. NFTs are individually numbered and identifiable, unique digital assets that stay with users forever. Hence, using a deflationary (and appreciating) currency to purchase NFTs are acceptable, since both $tipsy and the NFTs are valuable assets.

We are working with in-game economists to ensure the sustainability of both $tipsy and $gin, and both are currencies will have utility in their own right.

$gin is a coin on the Polygon blockchain and that will be the currency for TipsyVerse. $gin is required to buy and sell in-game consumables & tools (these are not NFTs), for character upgrades, to participate in tournaments, and for the breeding of Companion Penguin NFTs.

You’ll be able to start earning $gin once we implement the staking of $tipsy. However, the actual contract information and trading of $gin will be unveiled closer to the game launch.

We will not rule out maintaining both TipsyVerse 1.0 and 2.0 if we see continued support and activity in TipsyVerse 1.0.

We hope to work with quality NFT projects to integrate elements of their NFTs into TipsyVerse for a unified metaverse experience.

Check out: https://tipsycoin.io/friendship-program/

3. NFTs FAQ

All our NFTs will be compatible in TipsyVerse. They will have utility and be of varying rarities ranging from Common, Uncommon, Rare, Epic and Legendary. The range of NFTs include Wearables and Equipment, Mounts (including Vehicles), Companion NFTs, and Land NFTs (representing plots of Land in TipsyVerse). Our first NFTs will launch in April 2022 and will be available to mint on our TipsyCoin website.

ETH Mainnet
We understand that players want the ability to trade their most valuable assets with the biggest market, so your core NFTs are minted on the Ethereum Mainnet according to the ERC-721 standard. Core NFTs are not attainable as loots in-game.

Core NFTs:
– Companion NFTs (Genesis Penguins)
– Land Plots

Layer 2 – Polygon
In TipsyVerse, some item NFTs can be dropped during gameplay. The process of minting and transferring NFT assets to player wallets in-game requires substantial on-chain interactions. Deploying a L2 solution allows us to award NFTs to the players in a manner that is far more scalable and cost efficient

Item NFTs:
– Weapons
– Wearables
– Mounts

Genesis Penguin are the first and most coveted NFT collection in TipsyVerse on the ETH Mainnet. Only 2,345 will ever exist.

They spawn as your companions in TipsyVerse, fighting alongside you and granting you special benefits.

Genesis Penguin Benefits:

  • Fights alongside you in TipsyVerse.
  • Enhances your character’s stats, amplifying your play-to-earn opportunities.
  • Increases the chance of NFT drops in-game.
  • Entitled to exclusive airdrops.

Minting an NFT means buying an NFT. You can buy an NFT from the primary market (directly from the project issuing it), or from the secondary market (eg: OpenSea). Minting means buying an NFT directly from the project.

The minting process basically means you visit the minting website and pay for the NFTs which you will then receive.

You will mint our NFTs directly from our website. The exact link will be provided officially on our minting date.

DO NOT visit any other minting site that claims to be related to us. Use only official links which we provide on our platforms (eg. website, discord).

Minting typically has a Whitelist program. Depending on the project, they may allow anyone to be able to mint, even those who are not on the Whitelist.

Whitelist is like getting a Guestlist to enter a club. To be Whitelisted is a privilege. Minting for our Genesis Penguin NFT collection has ended. Users can directly buy a Genesis Penguin from OpenSea.

All Whitelisted / OG / TipsyDiamond users have roles (with different colors) given to them on our Discord.

Closer to the minting date, we will be sending out an announcement to collect your wallet address, which we will then program on our end, to ensure that your wallet is able to mint the NFTs.

During the minting process, you will need to connect your wallet to the website, which is why you never connect your wallet to random websites you are unsure of.

Minting for all Genesis Penguins is over. There will never be anymore Genesis Penguins.

Look out for our other upcoming releases!

Yes, the looks & traits of the Genesis Penguins are completely randomized.

The rarer NFTs (with rarer traits) will have higher utility in game.

Like all our NFTs, they are usuable in both TipsyVerse 1.0 and TipsyVerse 2.0.

This also applies to NFTs that you earn in-game.

4. Project FAQ

$tipsy is suitable for humans of all ages and all health conditions. In TipsyCoin’s smart contracts, whales and bots are deterred from slurping up all the supply. TipsyCoin has a strong anti-rug pool policy and our contracts were audited by CertiK before its launch in March 2022.

We have been KYCed by KYCastle and we utilize Gnosis Safe multi-sig wallets to protect $tipsy from compromised keys or bad actors. All transactions from the marketing, development, and other vaults must first be approved by the Penguin Board, and is never controlled by a single person.

You can read more on our tokenomics page. We also encourage you to study our highly analytical and technical whitepaper.

Our founders, ForeverTipsy and Deiparous, have a rich history; crypto and gaming enthusiasts who have dabbled in a variety of businesses. Luxury and e-commerce among others, plus their strong network spans across the nightlife, hospitality and F&B industries.

Our tech team has massive experience in coding. Our tech lead, Mittens, teaches students how to code, delivers lectures, and develops course materials for computer science students (mostly stats / data science) – he is based is Australia and his forte is in building bots. He is a PhD candidate in Data Science and has also worked on object detection machines learning algorithms for a hospital. Our second tech lead, Goldpepperr, is very well-versed with Web 3.0 & smart contracts – he is based in the US. Our gaming development team (3D architects and line developers) are largely based out of Poland and Serbia, with a supporting team in Pakistan & India, while our founders are from Singapore. We have a dedicated community management team (including moderators) that are based out of Indonesia and Philippines. Our team is pretty global and our founders have been into non-profit work for several years now, working with notable NGOs. People should realize why TipsyCoin was incepted, and what building a community means to us. We’re super passionate about giving back as echoed throughout our initiatives.

Our founders are financially comfortable – the project is 100% self-funded with no pre-sales. Our emphasis on security protocols are also highlighted on our tokenomics page. You can also read more about our core team.

We have an elaborate corporate structure since we have operations all around the world. We do not disclose the names of our corporate vehicles since the founders would like to retain their private lives. It should also give you comfort that a KYC process has been completed by KYCastle.

We do due diligence on our partners and are selective about our collaborations. Please send all partnership proposals to marketing@tipsycoin.io.

Before even launching, TipsyCoin has saved 81 Nigerian children and adopted 50 penguins. The 3% of $tipsy supply allocated to charities are for meaningful causes. We want the community to voice their suggestions and we will hear you! Once the non-profit initiatives have been shortlisted by the community, the tipsy team will reach out to the charity to assist with setting up of their wallet and in receiving the funds. Stay tuned as we engage the community in this journey through our DAO.

You are welcome on our Discord, and watch us Tweet during Happy Hours! You can also follow our tipsy journey on our blog.