$HOUR tokenomics

Why does there need to be another token for this?

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.