We’ve been quieter then usual over the past week as final work is done to launch the NFT DEX AND some new tech we are excited about.
We are going to release a Litepaper on the DEX in the coming week. Until then, we would like to update the VNFT community on some of the benefits they’ll get.
As a gift for everyone that has been around and supporting our early work! We hooked up Santa to give you a little gift:
You’ll get governance tokens based on your VNFT’s Health
The DEX will be managed by a DAO over the long term, the token for the DAO is gonna be bootstrapped with a supply of 500K tokens, they will be distributed as follows:
- 200k tokens is distributed to the devs
- 50k tokens for early contributors, advisors and supporters.
- 150K to DAO address to pay for salaries, marketing initiatives and more (if any value is accrued to those tokens).
- 100K tokens is going to VNFT players.
Note: The supply of the token will be higher than 500k over time as you will be able to farm it in different ways.
How are the 100k Tokens to VNFT players distributed?
The 100k tokens are going to be distributed as follows:
- Pets that are over 1month old with over 90HP will get: 1k tokens.
- Pets that are over 1 month old and over 70HP will get 100 tokens.
- The remaining tokens will be distributed equally between pets with lower then 70HP.
Once the dex goes live, you’ll have a page to claim the tokens you deserve.
Your VNFT will act as a multiplier when voting
The specific algorithm for this is not decided but an example with random numbers would be:
If you have a 2 month old pet with 90HP, every 1 governance token you own would count as 2 tokens when voting, this gives your VNFT extra power in the DAO and saves you money where other users would need to get 2 tokens instead of your 1.
What to expect?
In the coming weeks will will start releasing more details about the upcoming DEX, websites, DAO and how it will all tie together.
Until then, don’t forget to feed your pets.