We are excited to announce the PSYC token sale, marking a significant milestone in the evolution of PsyDAO and the intersection of decentralized technology with Indigenous art and knowledge. The PSYC token brings together the cultural heritage of the Shipibo-Conibo tribe, renowned for their deep cultural heritage and sacred relationship with ayahuasca and plant medicine, with the cutting-edge world of NFTs and decentralized governance.
PSYC Token Overview
PSYC tokens are soulbound tokens (SBTs), a unique form of transfer-restricted NFTs derived from pioneering work in decentralized society. Unlike traditional NFTs, PSYC tokens represent real-world assets (RWAs), specifically the intricate and culturally rich kené art of the Shipibo-Conibo tribe. These tokens foster a deeper connection between token holders and Indigenous culture.
Benefits and Utilities of PSYC
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Art and Culture: Each PSYC token is linked to a specific kené artwork, allowing holders to claim physical woven kené pieces which will be mailed to you. This dual claim fosters cultural preservation and supports the Shipibo-Conibo, as we are sending money back to the artists.
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Royalties and IP Rights: Holders have the right to issue tokenized sublicenses for derivative works from their kene tapestries, with royalties flowing back to the artists and the tribe, ensuring ongoing support and ethical use of the art.
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Governance: PSYC holders gain the ability to participate in all of PsyDAO's governance, operating like a cooperative, overseeing authority delegated to PSY over the treasury, minting new tokens, and more
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EgoDeath Function: A unique feature allowing PSYC holders to burn their tokens in exchange for a share of the PSYC treasury, promoting a balanced and sustainable economic model.
Whitelist Raffle and Community Call
To kick off the sale, we will be holding a community call this Thursday, Aug 8th to discuss the details and answer any questions you might have. In addition, we are launching a whitelist raffle to offer early supporters a chance to secure their place in the PSYC ecosystem.
The Road Ahead
The PSYC token sale is the first step in the decentralized growth of PsyDAO along the Fibonacci sequence, a natural model of sustainable development. This innovative approach ensures a balanced and organic expansion of the community and its assets.
Call to Action
We invite you to join us on this exciting journey. Participate in the whitelist raffle, attend our community call on Twitter/X, and become part of a groundbreaking initiative that bridges the digital and physical worlds, honoring and preserving Indigenous art and knowledge.
Read more about PSYC in our earlier blog post, and stay tuned for more updates. Connect with us on Discord, share your thoughts, and help us build a future where technology and tradition thrive together.
Together, let's embark on a journey of cultural preservation, decentralized governance, and innovative growth with PSYC.
And get PSYChed!