Introducing Diamonds
Diamonds are one of kind, truly special and super rare gems associated mainly with Fantoon, Pumpkittens community's very own NFT launchpad.
What are Diamond Tokens?
Diamonds are rare gems; everybody knows that. But within our ecosystem, Diamonds are even more rare and special, one of the most rare and precious tokens native to fantom.
Why Diamonds are such a Precious Asset?
Diamond tokens are one of a kind, it’s tied to the Fantoon project, and the founders club (a club of users who have more than 100 diamonds) own and operate fantoon to its entirety! (Confused? Please check our discord).
10% of the initial-mint-share of projects launching on Fantoon (10% of the 50% of the total mint - please refer Fantoon for more details) goes to the holders of Diamonds.
100% of platform fees, of Fantoon, yes 100% (there will be 1% platform fee for all transactions on Fantoon) goes to Diamond token holders.
100% of the platform royalty share (there will be a default 1% future transaction fees from secondary markets, like a royalty when they are listed on other markets like PS and etc, to every NFTs in every single project launched through Fantoon) also go to the holders of Diamond tokens.
You will need to hold a minimum of 10 Diamonds to be eligible for the above benefits.
Is that it? No. First of all, Fantoon has a lot more coming, especially once the founders club is up; and 100% fee on everything goes to the holders.
And for the founders club (users with more than 100 diamonds) there’s an additional revenue stream
10% of all the incoming FTM to the Fantoon NFT Jackpot machine (this alone could in fact be a standalone project - please refer to our discord for details) goes to the founders club.
Why Diamonds are an extremely rare asset?
Only 1Million Diamonds are ever created in the ecosystem. Precious for its privileges, and expensive because of its demand, utility and the revenue potential.
Now, how do one get hold of these precious diamonds?
There will be a fair launch LGE through which you can acquire Diamonds. During LGE you get a share of 12.5K Diamonds depending on the FTM you send. But when it's added to LP, we add 10K Diamonds agains the total FTM collected; making the price of Diamonds in open market 25% higher than your LGE prices. There's limit of 3K FTM maximum and 50 FTM minimum to participate in the LGE.
The Diamonds you acquired during the LGE will be released like 25% every 30 days - to avoid those who want to flip it quickly and dump. Community decides the price; market is created by the community; it's an entirely community driven way of building a project - all the FTM sent during the LGE is added to the liquidity on SpiritSwap for Diamonds - NONE goes to the team.
But, that’s not it.
Yeah, that’s not it - like we mentioned earlier, diamond tokens have some special abilities, there is no farming or staking, but there is a daily emission of diamond tokens which you can collect by sending LP tokens to the diamond reserve - how does it work? Well, it relies on a community controlled balance - you can add any amount of liquidity (diamonds - ftm) to SpiritSwap and send that LP tokens to the Diamonds Reserve and it will allocate you a portion of the daily emission depending on how many LP tokens are sent to the reserve on that day. You can claim your tokens in 24 hours. New emissions happen every 24 hours.
For example, suppose the price of diamond tokens is 10 FTM and you add 2 diamonds and 20 ftm to the liquidity and give that LP tokens the reserve - suppose the daily emission is 100 diamond and nobody else has sent any LP tokens so you get all 100 diamonds - but don’t feel so happy thinking this would be that easy; no, seeing this lucrative opportunity, there will be so many users trying to get it - so like mentioned above, this is a community controlled balance - the balance is all up to each of you :)
Tokenomics:
Maximum total supply: 1 Million Initial mint: 100K Team allocation: 5% LGE allocation: 2.25% Security/audits: 1.5% Marketing purposes: 1.25% That covers the initial 10% mint.
Daily emissions (users can give LP tokens to get their emission-share) comes in two forms; initially there will only be one LP pair (diamond - ftm) to be given to get diamond tokens from the emission at possibly a lucky price; but later on, after the Pumpkittens Gold launch, users will be able to send PKN - FTM lp tokens to collect diamond tokens - the emission allocation for this would be half, compared to that of Diamond - FTM emission allocation. Initially its set at 1800 diamonds per day for Diamond - FTM and 900 diamonds per day (when it starts after PKN goes live) for Pumpkittens Gold - FTM pair.
The initial idea was to burn the LP tokens - but since the LP tokens would give a % of the fee from transactions (even though it is relatively low), right now we are going to keep the LP tokens intact in the reserve, locked - if this tactic doesn’t seem to be much beneficial we will be burning the LP tokens - in both ways - this exclusive strategy will bring the concept of permanent liquidity.
There’s a good future if we can all work together, let’s build towards it!
-H
Copy link