When: It's TBD, though we are targeting April 2022.
NFTs usually have a set price for minting and a limited number of participants. Typically, sale proceeds go to the team, excluding some airdrops and discord community incentives that they hold.
No set price.
No upper limit on the number of participants.
$POOP token equal to the amount of capital raised, 100% of it will be given back to our community
How? Continue reading because you all are in for a treat.
PooNFT is not an instrument for us to raise capital. It is to increase awareness among the crypto market and establish POL (Protocol Owned Liquidity) for Poopsicle Dao.
If you have not heard of Olympus Dao, they are the team behind the innovation of this idea of having POL by introducing "Bonding". Bonding enables investors to acquire $OHM token at a discount by committing different assets like $DAI and $FRAX. As a result of this discount, bonding inflates the supply $OHM and adds selling pressure. Yet having attractive staking APY and bonding have proven successful. Olympus Dao's treasury value currently sits at $519 million, while its market cap is $589 million.
How do we establish POL?
PooNFTs can be purchased with variety of tokens. Let's say X amount of USD worth of tokens were deposited consisting of 7 different tokens such as $FTM, $USDC, $USDT, $LINK, $gOHM, $ETH and $POOP.
X amount after paying some fees and buying back, $POOP will be added to Poopsicle DAO's treasury, and $POOP tokens equal to X amount will given back to those who stake PooNFT with a vesting contract.
This method of establishing POL is not inflationary, nor does it add selling pressure since $POOP tokens are not offered to investors at a discount.