This proposal follows the proposed guidelines from We want to open a MIN Farm! [Proposed Template for Requests to have a new MIN Farm]
The Ape Society
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1.1 Please describe your project. What is it doing to improve Cardano?
Bridging the gap between NFTs and DEFI, we The Ape Society carved out our own niche in the Cardano ecosystem. With original exceptional art, a community of Apes always willing to help one another, and a team focused on execution we became a top 10 project within a month of existence.
With this, we have also become a breeding ground for knowledge. Focused on educating holders so that they can become stronger NFT and DEFI investors.
1.2 What does the Token do?
$SOCIETY is a utility token that is the root of The Ape Society.It is the currency rewarded from staking in our Cabins ecosystem and can be saved or redeemed for in-gallery improvements, merchandise, as a form of exchange, and future benefit as the Society grows.
Why own $SOCIETY?
- For owners of cabins, purchase furniture built by Ape Society craftsmen on our upcoming marketplace.
- Buy and upgrade usable NFT frames from level 0 all the way up to level 7. Frames can then be used for staking and placing in cabins.
- Participate in upcoming Ape Society events exclusive to $SOCIETY.
- And more!
How do I earn $SOCIETY?
- For Ape Society holders, stake your apes in frames through our upcoming web interface.
- You can stake your non-ape NFTs from approved collections in frames.
- Purchase a Craftsmen Ape, and build and sell 3D furniture assets for the upcoming cabins built in Unreal Engine.
- Other incentives outside the ecosystem (specific stake pool delegations, DEXs)
- Stay tuned to our socials as we will have cool ways for anyone to earn $SOCIETY!
How many holders does it currently have?
Currently there are:
1.3. Why do you want a MIN Farm? How does the Minswap community benefit from offering a MIN Farm for your Token? Apart from the MIN Farm, will you add your own Token as incentives as well (Double Farm) If yes, how much?
We aim to have very strong liquidity and the awareness MIN brings will greatly help us achieve this goal.
The Minswap community benefits as we have put a lot of work into the utility of our token. There are not many tokens with true utility out there, we have brought something new to the space with our virtual economy.
Considering Current TVL of 620k ADA and 7-Day Volume of 435k ADA, the Pool meets the standards outlined for the $MIN Farm. We will likely do a Double Farm afterwards with up to 3,500,000 $SOCIETY tokens.
1.4. How much circulating supply is there of your token? Please inform us briefly on your tokenomics, including the distribution and vesting schedule of the token (investors, team, yield farming, etc.)
- Total supply of the token is 700,000,000 with a circulating supply of 60,000,000 (~8.5%).
- There are 462,000,000 (66%) tokens reserved for staking and 56,000,000 (8%) tokens to reward “projector” owners - an asset available for purchase (built by the Crafstmen) within the Cabins ecosystem.
- The team - Ape Force 1, holds 21,000,000 (3%), vested.
- The Ape Society DAO holds 49,000,000 (7%), reserved for proposals and community members
- TASPI initiative : 21,000,000 (3%) tokens are to be airdropped to 7 selected pools (this is a DAO proposal, please check our discord for more info on these pools)
- Community incentives and Marketing, 21,000,000 (3%)
- The remaining 10,500,000 tokens are reserved for further liquidity and farms.
There are also burning mechanisms - all the $SOCIETY tokens spent on frames (which are required for staking), and a fixed percentage from transactions in Cabins marketplace are removed from the supply.
1.5. Is your Project audited? By whom?
Currently, we do not have any audits.
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Please vote: Should $SOCIETY have a MIN Farm?
- Yes
- No
0 voters
