In the era of digital innovation, our traditional industries are facing unprecedented challenges, and none more so than the Food and Beverage (F&B) and nightlife sector. The rise of Web3 technologies offers a revolutionary solution to revitalize and reshape an industry that has long been perceived as outdated. Let's delve into the reasons why the current state of F&B and nightlife is seen as broken and explore how Web3 can be the key to its survival and prosperity.

The Broken System

• High Costs and Margins: Running a restaurant or a nightlife establishment is notoriously expensive. High rents, staffing costs, and operational expenses often translate into higher menu prices. This, in turn, limits accessibility and can hinder growth.

• Middlemen and Excessive Fees: Intermediaries, such as food delivery platforms, often charge hefty commissions, leaving both customers and businesses paying more. These platforms control a significant portion of the market, limiting the choices for consumers and restricting the profitability of establishments.

• Lack of Transparency: Customers often have limited visibility into the supply chain of the F&B industry. Questions about the origin of ingredients, ethical practices, and sustainability often go unanswered.

• Dependency on Reviews: The industry relies heavily on centralized review platforms, which can sometimes be manipulated or biased. Authentic customer feedback can get lost in the noise, making it challenging for consumers to make informed decisions.

The Web3 Solution

• Decentralization: Web3 introduces decentralized systems that operate without a central authority. Applying this to the F&B industry can eliminate unnecessary intermediaries, reducing costs for both businesses and consumers.

• Smart Contracts for Fair Transactions: Through smart contracts, transactions can be executed automatically when predefined conditions are met. This ensures that businesses get paid promptly, and consumers are guaranteed the services they pay for, reducing disputes and fraud.

• Tokenized Incentives: Introducing a token economy can incentivize customer loyalty. Restaurants and nightlife establishments can create their own tokens that customers can earn through purchases, referrals, or engagement. These tokens can then be redeemed for discounts, special events, or even exclusive menu items.

• Supply Chain Transparency with Blockchain: Blockchain technology can provide a transparent and traceable supply chain. Customers can verify the origin and quality of ingredients, promoting trust and ethical practices.

• Community Governance: Web3 allows for decentralized autonomous organizations (DAOs) where stakeholders have a say in decision-making processes. In the F&B industry, this could mean involving both customers and employees in crucial decisions, fostering a sense of community.

• NFTs for Unique Experiences: Non-fungible tokens (NFTs) can be used to create unique experiences or memberships for customers. This could include exclusive events, virtual tastings, or limited edition menu items, adding a new layer of excitement to the dining and nightlife experience.

Conclusion

The F&B and nightlife industry is ripe for disruption, and the advent of Web3 technologies provides a unique opportunity for its transformation. Decentralization, transparency, and tokenization can breathe new life into an industry burdened by legacy systems. As we embrace the future, envision a world where your favorite restaurant is not just a place to dine but a community-driven entity, and where the nightlife experience goes beyond the physical walls of a club. Web3 is not just a technological upgrade; it's a promise of a more inclusive, transparent, and exciting future for the F&B and nightlife scene. The time to embrace this revolution is now.

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.

How can you branch into the spawning web3 world and tap into new market strategies by leveraging the metaverse, NFTs, and much more?

How can you prep your F&B brick & mortar spot for the next global pandemic?

Become a PDE.

But wtf is a PDE?!

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.

By onboarding your F&B location as a PDE, you now open the doors for patrons and Drinkers to step inside your physical location and earn the $HOUR token. As they earn $HOUR, you also earn a commission rate from their earnings. It’s a two way street in this relationship with yourself and your patrons.

Drinkers simply need to know your PDE ID and access code upon arrival of your location in order to start an eligible LITT session, earning $HOUR by the hour.

The $HOUR token, as is being dubbed web3’s big Drink-To-Earn token, will empower all F&B spots to embrace the decentralized movement of digital economics. The benefits of the $HOUR token is too much to cram into this explainer, but you can imagine it being the digital currency for F&B activity on and offline.

A technical breakdown of a PDE.

Architectural structure of a PDE.

    struct PDE {
        string _name;
        string _location;
        address _address;
        uint _accessCode;
        uint _PDEid;
    }

    PDE[] public pdes;

    mapping (uint => address) public PDEtoOwner;

Public onboarding function for PDE. Name, Location, ETH address, and a temporary Access Code are required.

    function onboardPDE(string memory _name, string memory _location, address _address, uint _accessCode) public {
        uint PDEid = uint(keccak256(abi.encodePacked(_name, _location, _address)));
        pdes.push(PDE(_name, _location, _address, _accessCode, PDEid));
        uint PDEindexNum = pdes.length - 1;
        PDEtoOwner[PDEindexNum] = msg.sender;
        emit newPDEonboarded(_name, _location, _address, PDEid, PDEindexNum, _accessCode);
    }

Every new PDE will fire a new event on-chain.

event newPDEonboarded(string _name, string _location, address _address, uint _PDEid, uint PDEindexNum, uint accessCode);

Enables PDEs to change their Access Code anytime.

    function _changeAccessCode(uint _PDEindexNum, uint _newAccessCode) public {
        require(PDEtoOwner[_PDEindexNum] == msg.sender);
        pdes[_PDEindexNum]._accessCode = _newAccessCode;
    }

Tracking live commissions earned by PDEs.

event endHOURresults(uint hoursSpentDrinking, uint HOURearned, uint PDEcommissionEarned, uint PDEindex);

Querying for the total amount of PDEs in the network.

    function totalPDE() public view returns (uint) {
        return pdes.length;
    }

All contract methods listed above are now available on mainnet.

The logical web3 pathway for an F&B merchant

Where do we envision F&B merchants evolving into? For decades, F&B merchants have been siloed by their own physical brick & mortar. Sure many have adopted digital marketing and influencer marketing. But taking the next leap into the decentralized web3 world is a no-brainer and an obvious untapped market to be looked into.

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.

Cheers.

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.

We’re not afraid to admit that our previous brand logo and theme were a bit lacking. Especially considering the factors of our DAO being 100% community driven with ZERO VC funding, ZERO premine, & ZERO marketing budget.

Before formally presenting the new look & feel of the happyhourDAO brand, we want to opine on the elements that we felt were necessary in our concluding work.

We wanted something akin to the nightlife vibe.

The one thing that we noticed works well with organized clubbing events and club promotions is the ability to create eye-catching flyers that exhibit a coolness factor. We wanted to do the same thing, because we also are cool. Or at least that’s the vibe we want to give off. The happyhourDAO is a web3 extension of the IRL brick and mortar bar/club venue. By retaining some of the elements, new Drinkers to the community could have an immediate understanding of the trail we are trying to blaze.

We wanted something web3-ish.

Nothing screams web3 than with some splash of neon and gradient variations. You’ll see more gradient coloration on the mainnet app (coming soon!).

We wanted something sleek and clean.

If you haven’t noticed over the past 5 years, brands from any industry have been re-inventing their logo to look more simplistic rather than complicated.

So without further ado, ta-da!

The above image will officially be adopted as our new full brand logo, meaning it includes not only the martini glass icon but also happyhourDAO written out on the right side of the icon.

Initially our brand icon did include a slightly different martini glass icon but the new one embodies a more web3 feel to it with its curved corners and partially dotted parallel lines. Sticking with the martini glass icon was important and a fairly obvious choice. We wanted a icon that people can quickly interpret and resonate with. The icon variation might seem frivolous, but upon looking closer, the newer icon just vibes better.

The icon was also agreed upon due to its flexibility in its avatar-ness. All of the social platforms happyhourDAO has been utilizing requires an avatar. This icon popped out the most when performing A/B tests.

The icon is also structured in a manner that welcomes animative motions.

The typefont for “happyhourDAO” is using the Smooch typefont which aptly embodies the elegant nightlife typefont you’d see at your city center’s plush lounge. The letters of “happyhour” were purposely all lower-cased in providing stark contrast to the letters of “DAO”. It’s a fancy script, but not exactly script. It’s carrying some elements of graffiti art but in a more classy manner.

We hope the new brand look & feel is emblematic in what a true Drink-To-Earn protocol should emanate. But at the end of the day what matters most is that our DAO community strives on its mission in bringing back the fun of going out. Covid lockdowns, rise in crime, & rampant culture change has spread like wildfire over the past 3 years. If our brand assets emanate good times, then let’s bring back the good times shall we.

Cheers.

So why are we upgrading the smart contract? Well for many reasons listed below that we’ll get into, but the main reason is that we wanted to give it a more robust architect before going to mainnet. And considering that the previously deployed testnet app was leveraging the now deprecated testnet, Ropsten network, it’s only natural that we re-deploy to another testnet.

But nevertheless, we’re back in full force and ready to serve up a banger of a whisky cocktail.

Let’s first start with what’s happened so far?

-Word of Mouth

We cannot be more grateful for the few individuals and supporters of this project for the past few months. Just seeing others on the internet whisper their piqued curiosity is more than enough to get the team at happyhourLabs excited all over again. Sure we might not have gone viral yet but the organic enthusiasm that started this industry is all that’s needed for us to push this forward. We’re not doing this for money or fame, but rather to see two colassol industries (web3 x F&B) move together for a single goal.

Word of mouth is going to continue driving this project forward. Whether it be from the average plebs like us or from the owners of established F&B spots, the communication between the two is our only bridge that makes sense for this all to work.

There is no premine, no VC fundraising, no affinity marketing hype bloated with bots, but rather pure altruism.

-PDE Onboarding

A few local F&B spots have expressed interest in becoming a PDE on the testnet application. Well, why not, right? The benefit is mutual for both parties.

If you have a F&B spot in mind that you think would benefit from this protocol, chat with them about the protocol.

-Digital Media Assets

We’re looking to ramp up our marketing efforts in the next coming months. Our current portfolio of digital media assets, i.e., logos, banners, graphics, ads, etc., are a bit light in KBs. Most of these already existing assets can be found on our website.

If you are interested in contributing to the project and banging out some awesome designs utilizing the existing assets, by all means feel free too.

-Constructive Community Feedback

More $HOUR for those who spend more? Allowing the rich to get richer?

Over the past few months, we’ve received many great feedback from our community on what they saw wrong and what they saw right about the tokenomics of the happyhourDAO. One of the biggest flaws is one’s ability to endlessly earn $HOUR, which we will address below.

Another suggestion we got back was the minting design of $HOUR. The question that was posed verbatim was: Why not allow drinkers who spend more at a PDE during their session to earn more $HOUR? Essentially basing the $HOUR earned in proportion to the drinks/food you order. On initial thought, this was reasonable and logical in fairness to those who can contribute more financially to a PDE. It’s like with any economy. Those who contribute more to society should be rewarded more. We could even compare this with Bitcoin’s PoW consensus algorithm, which allocates a higher chance of being rewarded with bitcoin if more hashrates is supplied by a miner.

We get it. It makes sense.

But.

Are we allowing the rich to get richer? Are we underestimating the value that a drinker can bring to a PDE besides having to “ball out” at the counter? Would we be looking at this model in a singular frame of view that your financial contributions is that only thing a PDE is looking for?

Let’s think of an example. Would a PDE want a solo drinker to just come in, order drink after drink by themselves, and end up obliterated by the end of the night looking like a pathetic drunkard? Or would a PDE value one that does not relatively order too many drinks, but is able to pull in many other Drinkers and is conducive to the social vibes and environment of the PDE?

Earning $HOUR should not be considered a degenerate flex-off competition. The uniformed minting rate of 100 $HOUR per hour is for equality and uniformity across the board. And anyways, this wouldn’t have any bearing or disincentivize a Drinker that was already planning on “ballin’ out” for the night.

Just be YOU at happy hour.

-Out With The Old

If you haven’t noticed already, we’re using Mirror instead of Medium for publishing our blogs. Because f*ck web2.

So what’s new with v3?

-Penalized $HOUR

Unfortunately, there was a loophole in the previous v2 contract that basically allowed any Drinker to continuously earn $HOUR over an infinite period of time. Sure, there is a loyalty/enforcement system in place assuming PDE’s force a Drinker to end their current session before they leave that particular PDE location, but a Drinker could always just sneak out the back and never end their session. Leaving them with hundreds, potentially thousands, of freshly minted $HOUR tokens.

A new if/else implementation was added that essentially “penalizes” a Drinker if they leave their opened sessions for over 8 hours. If a session is left over 8 hours, a Drinker will only receive 1 hour’s worth of $HOUR tokens as a penalty. Because let’s be real, we’re not trying to encourage raging for over 8 hours and doing something that you’ll regret later in life. And eventually a PDE will have to close shop for the night.

    function endHOUR(address payable wiped) public {

        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;
            }
        }

        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);
        } 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);
        }

So there you have it. No more endless streams of unearned $HOUR tokens flowing your way. Sure we’d all love more $HOUR tokens but eventually the party’s gotta’ end. As the cliche phrase goes: Drink Responsibly.

-Leaner Smart Contract

Cut out some unnecessary fat in the smart contract. For example, previously there was some functionality for whitelisting opportunities but the dev team figured, “we fair launching this mtherfckers!”

-Separated Solidity Source Files

The previous HOURv2.sol source file comingled all the contracts together. In v3, we’ve separated it into two different files: HOURv3.sol and DRNKv3.sol. Not much of a major change but just keeping align with best practices.

Deployed and verified HappyHourProtocolv3 contract on the Goerli testnet:

https://goerli.etherscan.io/address/0x55f8558d9b7dfffa286015b8376db1a50a0c4ff9

Deployed and verified DRNKgovernance contract on the Goerli testnet:

https://goerli.etherscan.io/address/0x89f1a702eecfb47cf9289b3481349e1f38367c44

-Improved Front End App

React will be the weapon of choice for the Goerli testnet app and the mainnet app. The previous app utilized ExpressJS and its corresponding ejs syntax, which were all perfectly fine, but for certain design resigns, React will once again be used for this DAO project.

We are still undecided if we will use the same revamped front end for both the Goerli testnet and when it launches on mainnet.

That’s wraps up the updates with what’s going on with v3. Again, contracts have been deployed and verified on the Goerli testnet for read and write functionality.

So go ahead and stop by your local PDE and startHOUR() at your next happy hour!

Drink with us and join the conversation

Twitter: https://twitter.com/happyhourDAO

Discord: https://discord.gg/XegjVTGmyR

Github: https://github.com/happyhourDAO/Happy-Hour-Protocol-Engine

Gitbook: https://happy-hour-1.gitbook.io/happyhourdao/

Because it’s 5 o’clock somewhere…

happyhourDAO whitepaper

(originally published May 3, 2022 on Medium.com)

Table of Contents

/Abstract /What is the happyhourDAO /happyhourDAO network mechanics /$HOUR tokenomics /$DRNK governance tokenomics /happyhourDAO VC venture /happyhourDAO roadmap /$HOUR mint and release schedule /Team

Abstract

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 paper, 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 is the happyhourDAO

Introducing the happyhourDAO.

The first decentralized, community-owned Drink-To-Earn web3 network enabling all happy-hour-goers alike to be rewarded in the metaverse.

First, let’s define what is “happy hour”?

Happy hour is that time of day you and your colleagues can take a breather from work. Happy hour is that time of day where you and your colleagues can rant about other colleagues without retribution. Happy hour is that time of day where you can tell your girlfriend you have to work overtime while flirting with chicks at the bar. Happy hour is that time of day where you can completely flip the switch from being a corporate, white-collar robot to the savage filthy animal that you are. Happy hour is that time of day where you deserve that refreshing long island iced tea from the shit duties your imcompetent manager gives you.

Happy hour is that time of day during the week where we all look forward to just… releasing.

According to wiki, “Happy hour is a marketing term for a time when a venue such as a restaurant or bar offers reduced prices on alcoholic drinks. Discounted menu items like appetizers are often served during happy hour. This is a way for bars and restaurants to draw in more business before or after peak business hours”.

We’ve all engaged in happy hour outings at least more than once in our lifetime. It’s as natural as grabbing a cup of coffee first thing in the morning. We need to just get our drink on during the week and let loose with the goose as they say.

The happyhourDAO aims to bridge the gap between happy-hour-goers in the real physical world and traditional F&B merchants with plebs in the metaverse through its native ERC20 token, $HOUR. For once, drinkers have the opportunity to earn from their engagement in happy hour. 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.

happyhourDAO ecosystem

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.

$HOUR tokenomics

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.

function startHOUR(uint _PDEid, uint _accessCode) public payable {
    uint validPDE;
    for (uint i = 0; i < pdes.length; i++) {
        if (pdes[i]._PDEid == _PDEid && pdes[i]._accessCode ==          _accessCode) {
            validPDE = 1;
        } else {
            validPDE = 0;
        }
    }
    require(validPDE == 1);
    require(msg.value == happyHourFee, "Invalid Happy Hour Fee.");
    givePoolDrinkingId();
    drinkingIDtoPDEid[drinkingID[msg.sender]] = _PDEid;
    happyHourFeePool += 1;
    timeIN = block.timestamp;
}

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.

$DRNK governance tokenomics

$HOUR/$DRNK exchange ratio will be hardcoded at the initial rate of 10/1. All $DRNK governance tokens will be fairly minted, meaning there will be no pre-mined $DRNK to certain individuals.

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.

Membership into the happyhourDAO grants you access to:

• Voting mechanisms

• Happy Hour Improvement Proposals (HHIP) submissions and approvals

• Special airdrops

• Real world exclusive VIP hosted events

• happyhourDAO VC arm investments

• happyhourNFTs exclusive whitelist

• Exclusive access to Web3 version of PDEs

• Merchandise

happyhourDAO roadmap

1. May 2022 Whitepaper release Testnet deployment

2. June 2022 Website release Onboarding of PDEs globally

3. August 2022 Mainnet contract deployment Happy Hour Protocol Engine release $DRNK governance token release

4. September 2022 happyhourDAO launch happyhourDAO launch party

5. December 2022 happyhourNFTs

6. Summer 2023 Grand opening of physical happyhourDAO bar/restaurant

Team

The team behind the Happy Hour Protocol Engine and happyhourDAO are all anonymous. Anonymity in an environment where decentralization is a merit always prevails and stays true to the ethos of this industry.

$HOUR/$DRNK mint and release schedule

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.

Conclusion

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. 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.

Drink with us and join the conversation

Twitter: https://twitter.com/happyhourDAO

Discord: https://discord.gg/XegjVTGmyR

Github: https://github.com/happyhourDAO/Happy-Hour-Protocol-Engine

Gitbook: https://happy-hour-1.gitbook.io/happyhourdao/