PAGMI
First and foremost, we want to thank the community for their continued support! If it were not for you guys we would not have come this far.
Introduction
It has been an eventful week and although our aim was to have minted more pandas it is still something we are very proud of; for both the team we have here and the community! This week marks the starting point in a long journey that will last for years to come.
The vision for this collection has always been much greater than what we chose to share with you all. This was for good reason, but given the strong foundation of this community we’ve built together, we are ready to really start revealing what it is you all signed up for!
The collection we’ve put together will serve as an umbrella for all our future endeavours. This includes both on chain and off chain ventures. The idea behind the collection is that we will be building utility into the NFT’s and develop an ecosystem that feeds off itself.
This ecosystem will begin with our rewards schedule ➜ then flow into the node protocol ➜ then to the risk2earn game.
Breakdown
NFT rewards/schedule:
1.You can own more than 10 per wallet but initially they must be minted on a separate wallet and then sent to your preferred wallet.
2. The draws will happen bi-weekly (every two weeks), every other Wednesday. The rewards will vary based on treasury returns but we will ensure that every draw pays out the winners more than what it would have cost to mint the NFT.
3. Although we don’t know what the returns would be at this point in time, we will do everything in our power to make sure the rewards schedule is met.
note: there will be a cut-off date for each draw (1 week prior). This means if you minted a Panda in the last 7 days prior to the draw, it would not be eligible to win the upcoming rewards schedule. However, it will be elegible in all subsequent draws after that.
To this point we have elected not to pay ourselves any team allocation because we wanted to maximize our returns and compounding ability for the community.
With this in mind understand that we will only compound when it is deemed necessary and the rewards schedule allows it. For the time being we are moving forward while funding everything out of pocket!
4. 10% of eligible NFT’s will win per draw.
5. An NFT can only win once per draw, but it can win in multiple draw
days since each draw day is unique and exclusive from one another.
6. If you have multiple NFT’s that win a draw in your wallet, your winnings will be paid out per NFT. Meaning one wallet can have multiple winning NFT’s and the payout will reflect that.
7. The rarity will not have any bearing over an NFT’s chance of winning in the draw. Rarities of our collection have no higher value in terms of utility, only the rarity score and what someone is willing to pay for it.
8. There will be a compounding period on March 16th with the first draw taking place on March 30th.
Next, I’ll clarify the role that our NFT’s will play in the node protocol.
- The NFT is not a node.
- NFT’s will allow you early access into the node protocol.
- Allocation of $Bamboo you receive will directly correlate to how many Shmoney Pandas you hold at that time!
- 1 NFT has the ability to boost 1 node. (e.g. 5 NFT’s=5 nodes boosted)
- Rarity will no longer play a role in tiers
- All mints made before 11:59 pm PST March 19th or up until 1500 mints (whichever comes first) will be considered tier 1 and be given the highest boosts to a single node within our protocol.
- After that date the NFT’s purchased will fall into tier 2 until stated otherwise.
The way this collection should be viewed from an investor perspective is much different than that of a utility based NFT. We like to look of it as an “umbrella collection” it should be viewed like owning shares in a company. It will serve as a way for our investors to reap benefits from all the ventures we set up in the future. Everything that we do in this space, on chain and off chain from a business standpoint is going to feed back to the Shmoney Panda community. For this reason, we are going through the process of setting up an LLC. We will update you with details as we set things in stone.
Under this umbrella collection we have many things planned for you. Our OG’s, the ones who have been with us from the start will reap the greatest rewards and we will go to great lengths to ensure that!
We will be releasing a more detailed roadmap in the coming weeks!
Shortly after that we will reveal our tokenomics model. We may leave out a few mechanisms from the tokenomics, but we will give out the bulk of the details to ensure its marketability!
We can’t begin to tell you how excited we are for this collection going forward. As things start to unfold you will all start to see the bigger picture. With that being said, we are delighted to be able to recognize who our early supporters are and continuously reward them as such!!
