This proposal uses the proposed template for request: We want to open a MIN Farm!
1.1 Please describe your project. What is it doing to improve Cardano?
The Pudgy Cat project is a collaboration led by a skilled Italian Professional Writer and supported by two talented Swedish software and security engineers. Together, we aim to foster creativity, entertainment, and a sense of community among cryptocurrency enthusiasts through our diverse endeavors.
Launched on Jan 2022, Pudgy Cat firmly believes that the world of cryptocurrency extends beyond mere numbers and finance; it offers an exciting new realm for artistic expression and the pursuit of human passions. Our primary objective is to develop engaging artistic activities for the vibrant Cardano Community. Initially, our project began with the creation of two on-chain NFT collections inspired by pop-art, and now it is expanding into the realm of literary productions (aiming to publish a book in partnership with Book.io). Simultaneously, behind the scenes, we are diligently working on the development of a play-your-own-adventure video game.
1.2 What does the Token do? How many holders does it currently have?
The PUDGY Token serves as the designated currency for all Pudgy Cat activities within upcoming metaverses, including the Pudgy Art Gallery Dome located on Cornucopias. Moreover, it presents an opportunity for users to avail discounts on various project-related engagements, with plans underway to integrate it into our merchandise shop.
As per Cexplorer.io, the PUDGY Token currently finds itself held in nearly 11,000 wallets, a testament to its growing popularity and widespread adoption among cryptocurrency enthusiasts and cat lovers.
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? If yes, how much?
The primary objective behind establishing a Triple Farm on Minswap is to encourage and incentivize active participation from our community, thus generating significant liquidity for the native PUDGY token. This will be accomplished by offering additional rewards in the form of PUDGY tokens to users who engage in the farm, alongside the regular MIN farm (MIN + ADA), for the specified duration. The reward structure will be aligned with existing farms that are currently operational.
1.4. How much circulating supply is there of your token? Please inform us briefly of your tokenomics, including the distribution and vesting schedule of the token (investors, team, yield farming, etc.)
The PUDGY token boasts a total token supply of 1,000 trillion tokens, with approximately 20% currently in circulation.
Here’s a breakdown of the current state of tokenomics:
- Treasury: Accounting for 40% of the token supply, this portion will be gradually vested over time, primarily during the next bull market.
- Pudgy Box: Comprising 30% of the token supply, the Pudgy Box operates as a faucet managed by a Smart Contract. It allows individuals to acquire PUDGY tokens through OTC (over-the-counter) orders.
- DripDropz Distribution Service: Constituting 10% of the token supply, this Smart Contract facilitates the distribution of PUDGY tokens.
- Team: Accounting for 10% of the token supply, this allocation is set aside for the project’s team members.
- Holders and LPs: The remaining 10% of the token supply is held by token holders and liquidity providers within the PUDGY ecosystem.
These allocations help establish a diverse and balanced token economy for the PUDGY project.
1.5. Is your Project audited? By whom?
No security audit has been conducted for PUDGY.
***Do you agree PUDGY should have a MIN farm?
- Yes, in favor!
- No, do not add this Farm