Proposal: Mouse Farm (Double Token Farming) for RAG/ADA pool

Hello Team,

I wish to propose to set up a Mouse Farm for the RAG/ADA pool. RAG (RaggieCoin) is the native token of the CryptoRaggies NFT project. As a project we are strong in creating value and utility for our community. We are the first NFT project on Cardano with a wallet-connected, NFT-powered game that has been fully playable with active play-to-earn mechanics since October 2021.

Our community has organically grown over time, and we have established a stable pool on Minswap for our native token $RAG with a current TVL of 17k ADA. We are hoping to further boost and strengthen this pool with a Mouse Farm and attract more members from our community and beyond to start adding to this liquidity pool.

Our Tokenomics
For a quick summary of our tokenomics, please visit CryptoRaggies | RaggieCoin

Basically, RAG has a fixed supply of 100m. Of these, 65% (65m RAG) is destined to be supplied to DEX liquidity. We have already supplied 40m to SundaeSwap when the DEX first launched, and then 10m to Minswap later on. Based on this, we still have a budget of 15m RAG left over for DEX liquidity, part of which can be added on to our Minswap pool if a Mouse Farm can be established.

We also have 20m RAG put aside in our NFT staking protocol rewarding our early supporters. This has resulted in a large portion of the circulating supply of RAG in the hands of our core community who have been with us since the beginning and are truly passionate about the project.

Outside of these allocations, the remaining RAG is kept in various developer wallets, gradually releasing to the community via many mechanisms including our play-to-earn game, airdrops for VIP members, and ad-hoc community contests and events.

RAG is a community utility token at the outset. Its current utility is in the purchase of in-game items, special edition NFTs, and occasionally to buy CryptoRaggies main collection NFTs. We believe that we have built a sustainable ecosystem to create value and utility for RAG and our community and a strong liquidity pool is the missing piece to make our ecosystem complete, which I believe a Mouse Farm will be able to help greatly.

If we are successful in obtaining a Mouse Farm, we are prepared to launch a Liquidity Provider NFT airdrop event to encourage more from our community to supply to the RAG/ADA farm on Minswap. We have conducted a similar event very successfully after the establishment of our pool over at SundaeSwap, and with a larger and stronger community now, and with more liquidity in the hands of our community after the last few months of NFT staking, I believe we can encourage the growth of this liquidity pool significantly with both the initiation of the Mouse Farm with double token farming benefit, coupled with a special edition Minswap-inspired Raggie NFT for liquidity providers.

For more information on our project, please visit our main website at https://cryptoraggies.io/
We have a timeline summary of all that we have done at CryptoRaggies | Vision and Values
Our Twitter account is https://twitter.com/CryptoRaggies
Our Discord server is CryptoRaggies CNFT
There are specific channels in our Discord server with further information on RAG and the ecosystem that it supports - namely #raggiecoins, #raggiestore, #raggieshrine, #raggie-rehoming-centre
We have also created RaggiePurrse, our own cross-platform, mobile-centric light wallet to facilitate the participation in our ecosystem - RaggiePurrse - The CryptoRaggies Cross-Platform Wallet (more information on Discord channel #raggiepurrse)

16 Likes

This project is ahead of a lot of projects. They have created their own light wallet. They have created staking rewards where assets remain with the owner. They are the only Cardano project that has a functional mobile game. There is honestly so much more.

I do believe that after the current market turmoil, the tokens will be on more demand due to potential expansion of project development software, etc.

The team is also very well suited for dev and advancing their thoughts and goals. Additionally, they are responsive in communication and kind

7 Likes

First, I’d like to say that the team at Minswap are doing a great job at creating value for the community. From the LBE to double farms and now mouse farms! The LBE did a great job at ensuring the community set the price. The double farms encouraged people to provide liquidity to their favorite project token. And now the mouse farm will give a chance for small up and comers like Crypto Raggies!

Of course, part of the success of Raggies will be to have more liquidity in our pairing. This is crucial for our gamers to get the best price possible when purchasing marketplace items like limited collectibles, powerups, and even Raggies from the core collection when they are available to adopt.

Apart from that, awareness of our token should lead to awareness of our ecosystem and thus translate into more players for Raggie Run and other games in the pipeline.

Since this is a new project the most important thing to note here is that the team is continues to build through the bear market. I have seen many projects and have been personally invested in projects that succumbed due to lack of funding, devs pulling out, and floor prices killing interest but the team at Crypto Raggies just kept building. In addition, the team has not taken a single cent from the project and has reinvested everything back into the project. It’s safe to say that the team is here for the long-term and Crypto Raggies are here to stay.

8 Likes

I love this idea. This would be a good fit for this project as their $RAG token is already an integral part of a well matured ecosystem. They already have liquidity pools at other exchanges. Right now the CryptoRaggies project has both a desktop and mobile game. You can buy NFTs to use within the game to play. Then just playing the game earns you XP/$RAG. You can also purchase boosters paying with the $RAG which supplement powers that your NFT might not have. They also have a F2P model aswell, this is where you can stake your NFTs to fuel the F2P model which earns you more $RAG. Then there is the rehoming feature where you can spend your $RAG to buy more NFTs which can also be staked just like the other NFTs. Oh an then there is the recycling system that they have. They call it a Shrine and those boosters that you bought with $RAG expire after 24hrs and at the Shrine you can trade expired boosters for raffle tickets where you can win more prizes.

With all those things you can do with their $RAG tokens as a well thought out system to cycle it’s usage how can it not seem like a good fit. I 100% support this idea.

5 Likes

This project deserve a lot of respect! They are way ahead of other Gaming and Tokennomic NFT projects. They are the first gaming project with true wallet connection, the first project to introduce tokennomic and complete gaming ecosystem in Cardano space! They are developing non-stop and dishing out complex tangible working utility at lightning speed!

I hope Minswap team can look into CryptoRaggies proposal, and read about their complex project or speak to the Devs (they are really brilliant! The community learnt a lot about blockchain technology from them on discord!).

3 Likes

TVT is too low. I think the project is not viable. Won’t get to the rat farm

How do you know it is not viable? There are projects that seems viable but turned out to be unsustainable. Have you even look at CryptoRaggies development? They have practically done what all the over hyped (flipping) gaming projects have been trying to achieve. Do you know they are the only project with a vesting schedule and a working ecosystem? They even solved the problem of mobile gaming on Cardano that all wallets are unable to achieve at the moment.

If they are not viable, they will not be working so hard in pushing the boundaries of cardano gaming and tokennomic nft space, let pushing for this.

I suggest you learn more about them :heart:

*Cardano nft space need people to support real developers and projects like CryptoRaggies. Not empty promise hyping and flipping!

2 Likes

Thanks for your contribution. I think it’s premature to claim that our project is not viable. Perhaps you mean the farm is not viable, because you started your post with “TVT(sic) is too low”? Determining whether a project is viable or not based solely on TVL is a very superficial take.

My proposal here is an exploratory one. I invite two-way dialogue with the Minswap team and the Minswap community as well. Granted our TVL on Minswap currently is 17k ADA and even I myself do agree that this is a very low figure. What has not been discussed is how much more the dev team and OG community can do to boost this figure. Remember Minswap only has 10% of the RAG liquidity, and 40% is locked in SundaeSwap. A further 15% remains unallocated but destined to be supplied as DEX liquidity based on our tokenomics.

Our pool on SundaeSwap started at 20k ADA TVL but with community contribution and a liquidity provider airdrop event it was doubled to over 40k ADA. That was when our community was relatively smaller and also newer to DeFi than it is currently.

Since then we have also done further minting rounds and we do have funds to add to the LP, if TVL is the sole concern we’re discussing here, which I hope it is not, as the whole purpose of the Minswap Mouse Farm as I understand it is to help projects that are underexposed but have potential, and not those that already have the resources and can readily build up a substantial pool on their own. I believe what the team is looking at is fundamentals and a proven track record, which I believe we do have.

Again, this proposal is not a static piece of text, but a dynamic process of mutual discussion. What I can say and have to emphasise is that 17k ADA TVL is only a snapshot of what’s locked in currently.

3 Likes

This project and team has been successfully innovating in the CNFT space in a self-sustainable manner while incorporating the feedback of its users and community members. When the developers asked for community feedback on the development of their now live NFT-enabled game, they incorporated it. When the community members suggested mobile gaming, the developers needed a dApp enabled wallet to support it and they developed it. Their Free-to-Play, Play-to-Earn, NFT-enabled game has been live for almost a complete year, becoming mobile ready in that timeframe and rewarding early adopters and users in that short timeframe while other projects are still composing a roadmap. The consistent and rapid delvierables are the strength the CryptoRaggies team brings to the CNFT space. And there’s an astronomically huge value added to those who take part in the CryptoRaggies ecosystem.

The project and development as a whole has been observed and found rewarding firsthand by its community (myself included) and will continue to be as new users find this project. The developers have a well-thought-out circularity of the ecosystem and the distribution and use case of their native token $RAG. Community members are readily earning RAG via NFT Staking, play-to-earn mechanics, NFT raffle systems, and community events. With the tokens earned, community members are re-supplying RAG into the ecosystem for in-game purchases as well as NFT purchases and mints. Again, this is a very well-thought-out circularity from the developers regarding RAG.

This proposal will be beneficial as the adoption of the live RaggieRun game continues to grow and yet-to-be-released plans, games and breeding inevitably goes live as well. Demand for the token (RAG) will grow with the community. The community will explore all pools and opportunities to obtain RAG and engage in its circularity- in-game purchases, the purchase of NFTs, and the ability to mint future limited release festive/ collector NFTs.

In the current market conditions, a project that can offer this much value to its community and supporters has so much promise and potential. A Miniswap pool will indeed be very beneficial for CryptoRaggies and its community.

Please, I implore you to take some time to learn about the project yourselves. You won’t be dissapointed!

6 Likes

That is exactly what the mouse farm is designed for, projects with low TVL

2 Likes

There isn’t much I can say that hasn’t been adequately described by my preceeding commenters, but I do wish to state that I wholeheartedly agree with their sentiments! The CryptoRaggies team is definitely one of the hardest working, most prolific ones that are currently running a CNFT project. It would be great to see their strong efforts be rewarded with a mouse farm for $RAG!

3 Likes

Thank you everyone for contributing to this discussion. We have now managed to secure the funds to boost our TVL to 100k ADA, which we will continue to support as a project and community. We are committed to maintain this as a stable main liquidity pool for the $RAG token and hope that we can establish a Mouse Farm to further incentivise our community to supply liquidity on Minswap too.

I would like to open a poll for the Minswap community to vote on and decide whether we should get this Mouse Farm. I hope this community takes the time to read about our project and what we have achieved before making this decision. As always, we are always willing to discuss and explain if there are questions.

Should the RAG/ADA pool get a Mouse Farm (Double Token Farm)?

  • Yes
  • No

0 voters

6 Likes

CryptoRaggies is hands down the most well developed ecosystem on cardano at the present time. $RAG has one of the most use cases on the chain as a native token and should be recognised accordingly

5 Likes

I love cats and their community

like @cryptoraggies I’m sure it will grow in the future provide many benefits to the community

Meow meow :heart_eyes_cat:

4 Likes

CryptoRaggies is by far the most well thought out and well developed project in the space. The eco-system and development of self sustaining features and cardano first additions are only some of the reasons this project has the legs to last a long long time. If you haven’t investigated this project properly I urge you to do so as you will be blown away by the incredible achievements and developments the team have accomplished to lead the way in cardano development.

1 Like

CryptoRaggies is developing things that will expand past just their current ecosystem. It is pretty innovative in what they have done thus far: non-custodial staking, first mobile game integrating Cardano, prototype auctioning System, token ecosystem utility, and much more.

1 Like

CryptoRaggies have laid the foundations for their ecosystem, and continue to build, lead and innovate in the Cardano NFT space. The complete cycle of their RAG token, from earning via staking to buying upgrades and even their NFTs is well thought out and executed. They brought one of the first wallet-connected CNFT games to the browser, and then to mobile, developing their own purrse and auctioning system along the way. Already into the development of their second game on top of their ecosystem, this team continue to expand, improve and deliver to the community. A well respected, professional team deserve to be seen on a wider scale… please vote for them!

1 Like

It’s useful to note that the smallest farm on Minswap right now is CLAP with 535,000 of ADA value TVL. It’s good that RAG has increased it’s TVL on Minswap to just over 100,000 of ADA value TVL. Trading volume, however, is basically non-existent right now, which is not encouraging.

If the Raggies team is willing to propose a double farm, where RAG is rewarded to liquidity providers alongside MIN, this proposal may be worth considering.

1 Like

Hi, yes! This proposal is specifically for a Mouse Farm, which is a RAG/MIN double token farm.