Oct 14, 2021

6 min read

Crunchy and Rocket: The Merge

Since early this year, we have witnessed Tezos’s DeFi sector grow into existence. We have seen projects come and go, each one supplying a building block for the next. Through hard work and many hours of thinking, talking, building and dreaming many have solidified a place amongst the “OGs” of Tezos DeFi.

Now however, we need to think long term. What do we do to give Tezos and our product the best chance to succeed? What is the next best step to make when we are in the Golden Age of building on the Tezos blockchain? There are most likely several answers to this, but the basis of each one of those begins with a strong team and like-minded ambitions. We want to continue that success, and we have thought hard about the next move to ensure it benefits users, Tezos DeFi, platform growth and influence. We realized a key piece that was slowing us down and that was the fact that we were splitting our efforts between Crunchy and Rocket. We were spreading ourselves thin and even building duplicate services by having two major platforms working together, but separately at the same time. This we feel was our biggest hindrance, and feel that by combining the efforts of both projects we could realize a whole new level of potential.

That is what we have decided…to combine the Rocket Launchpad and platforms under the Crunchy name!

What Does This Bring For Crunchy?

With this move, Crunchy will be successfully broadening its services to add a top notch feature in Rocket Launchpad’s IDO/IFO platform. The sole launchpad on Tezos to launch projects, we see this as a huge opportunity to combine our user bases and gather resources under one roof. Here is how Rocket users will transition to $CRUNCH:

  • $RCKT and $rkDAO currently in circulation will be swapped to the $CRUNCH token at a determined rate equal to the current value of $RCKT and $rkDAO user hold, plus an additional 10%. A swapping contract has already been built, and a snapshot was taken before the official announcement for price capture. DO NOT SELL YOUR $RCKT AND $rkDAO! You will need to swap those tokens to make sure you get your $CRUNCH tokens. You will have 45 days to complete the swap to the $CRUNCH token, and we will provide guidance on how to do this.
  • The Rocket brand will dissolve, and all relations will be made to the Crunchy brand. The site, smart contracts and all other aspects will be removed and all resources will be pooled with Crunchy.
  • Once $RCKT liquidity unlocks, the funds will be removed and sent to the token launch funding pool for Crunchy.
  • All $RCKT in the developer and community incentives pool will be burned and not converted to $CRUNCH. The only $RCKT that will be converted to $CRUNCH is the current $RCKT circulating between users.

Why Combine the Two Projects?

Simply put, this is an amazing opportunity to truly create a DeFi hub for Tezos.

Utilizing blockchain products can be mentally exhausting. This got us thinking… wouldn’t it be nice if you could utilize one product to do everything? That is the main drive behind this merger, to funnel resources to one product and increase the drive to develop the Crunchy DaaS model. By managing two projects, we were spreading ourselves too thin and we were noticing certain features were lacking or taking too long to build out. Combining teams to work full time on one major platform will ensure Crunchy can iterate quickly and we are excited about the future, unannounced, products we have lined up.

With this change, there is bound to be some curiosity, confusion and possible frustration. We want to assure everyone this decision was not taken in haste and has been something that has been discussed continuously. This merger is not due to any other reason than to fully capitalize on an opportunity that will propel the launchpad services as well as the DeFi-as-a-Service (DaaS) platform on Crunchy. The Rocket team will not fall under but will JOIN the Crunchy team and thus really bring some much needed support and capability to the Crunchy platform.

Now that our two teams are combined, we now have a focused effort. The Rocket team and launchpad service will be transitioning over to operate on Crunchy. This move strengthens the Crunchy and Rocket team by combining under the platform. Here are our thoughts on the move…

Resources: With two platforms combining to one, we now can focus our time, funding and efforts on expanding on ideas we have had as a team, but just haven’t had the time and resources to accomplish this.

Utility: By absorbing the $RCKT and $rkDAO token, we are bringing more users and the launchpad feature over to Crunchy. With this, $CRUNCH provides another premier use-case, and allows our combined efforts to further develop the platform, thus acting as a catalyst for our brand.

Userbase: Crunchy currently has 2450 wallets actively farming. Rocket Launchpad has had over 800 unique addresses participate in IDOs. Users will now have a central location to participate in an IFO, farm, check out the deep freezer, and fractionalize NFTs.

Team Consolidation: With the Crunchy x Rocket merge, all team efforts now go to one platform. We can now continue to expand the Crunchy DeFi-as-a-Service (DaaS) model and add additional support resources to continue that growth by brainstorming, testing, creating and marketing not only one Tezos application, but numerous features under the DaaS model. Here is the team:

Josh D: Crunchy Founder/Smart Contract Developer/Product Lead
Frank Kirk: Product Designer/Product Lead
Josh V: Community Manager/Marketing
Colin Cooley: Marketing Manager/Community
Andrew Algard: Front-End Developer/Back-End Developer
Melvin Kosisochukwu: Front/Back-End Developer
Harish: Community Moderator
Guppy: Community Moderator

Initial Farm Offerings: The Crunchy launchpad will transition the launchpad into more of an IFO-only based model. This format doesn’t have country limitations and therefore allows all users to participate. With the Crunchy and Rocket user base utilizing one simple platform there will be much more exposure for the service.

There are already several new ideas being built even as we write this article, and we can’t wait to continue to provide more use for $CRUNCH and to work more closely with the Rocket Launchpad team!

The Plan: Short Term

With the Rocket Launchpad transition over to $CRUNCH, it probably sounds a little overwhelming, but don’t stress, we build each part of this transition with Rocket AND Crunch holders in mind. Let’s take a look at the short term takeaways from this…

  • You will get a 10% valuation increase based on your current $RCKT and $rkDAO holdings with the swap
  • We are creating a $CRUNCH /$kUSD farm for 3 months valued at $50K USD
  • We are creating a $CRUNCH/$WTZ farm for 3 months valued at $50K USD
  • $CRUNCH token is the key piece that makes the entire Crunch platform operate. You are gaining an instant increase in utility with this transition
  • Pixel POTUS is very excited to launch on the Crunchy Launchpad utilizing our IFO services. We also are still in talks with other projects and lining them up as we build the transition.
  • We are working a $CRUNCH burn method into our IFO process. For each IFO, a percentage of $CRUNCH will be burned once the launching project’s raise-goal is met, thus causing $CRUNCH to become deflationary.
  • We are in the middle of building and releasing some exciting new features on the Crunchy platform that will be fueled by the $CRUNCH token.
  • We have already started pursuing exchange listings and have learned a great deal about the process from doing it with $RCKT. That is one of our top priorities is to get Crunch listed on CoinGecko, CMC and a reputable CEX as soon as possible.