To launch this project, we will be releasing tokens (Test Nodes) that will act as entry tickets. Holders will have early access to mint a single Node (Mint Price TBD) without gas wars. These will be free to claim for participants over the next few weeks.
This is an attempt at a fairer distribution mechanism, allowing sufficient time and opportunity for people to get involved. It also creates a low barrier to entry for people to reserve a place in this project and gives everyone plenty of time to evaluate the project before committing to mint at launch.
In these few weeks, we will be putting out a daily Tweet challenge. The first 20 people who respond will be able to claim a token. The challenges will probably get progressively harder to keep things interesting.
If you made it into the first 20, you will get a DM from us to ask for your wallet address. We will then list them for free as a private sale on Opensea for you to claim. You will have up to 30 days to claim these, so you will have plenty of time to wait for low gas prices. Each person will be entitled to claim one token.
50% royalty on the tokens, WTF?
Well, not really… It is actually at 10%* These tokens are created for the sole purpose of fair distribution. It is an opportunity for those who are aligned with our values and mission to support and contribute in the early stages.
We have put in this outrageous royalty in order to greatly increase friction for speculators and flippers. We opted to code in a prohibitively high cost of flipping instead of a wallet lock, as people can still freely exit the project (After-all, these are free to claim) while allowing latecomers with conviction to get in. We hope that this mechanism will provide another way in for latecomers, at an accessible price.
The entirety of these royalties will go directly into the treasury of the project–exactly how this will be used to further our cause will be discussed in our later posts.
*Though the 50% royalty is written in the contract, Opensea has overridden it with their 10% max. So, it will remain at 10% till Opensea can set this straight. - But the intention is there nonetheless. This high royalties rate only applies to these Test Nodes.
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