How Are We Utilizing $FUD Moving Forward? And How Will This Change Membership Tiers, $GATR and more.
As you know we created a utility/game NFT recently — Cooler Pepe. Cooler Pepe allows you an opportunity to swap your shitcoins for a Don’t Rug Me (DRM) game card. This was in response to a lot of copycat projects out there but it was also done because DRM cards can have a very positive ROI.
We also made a decision to make this process require no $FUD. All you need is the NFT, Cooler Pepe. The reason for this is we didn’t want there to be a barrier to entry for people. If we really want to do something good, we shouldn’t impose too many obstacles.
The biggest question we got was, “where is the utility for $FUD?” I keep saying don’t worry, we need to analyze the data. But people keep asking.
So I wanted to share what our next phases and steps are. A lot has changed — mainly due to community feedback, lessons learned and from watching other projects.
The next phase in our project is called, “The Potato.”
The Potato will be an utility/game card very similar to Cooler Pepe. It is an avatar card and will be playable in game. Instead of one function however, it will have a few more.
- Private group. Like Cooler Pepe, The Potato will get you in to a private group. To be specific, it will replace the current private group created by holding $FUD tokens. This group is to talk about all things $FUD and membership related.
- Memberships. We will be migrating from the current membership program to a new program. You will, in the very near future (December), need to have The Potato and hold $FUD for membership tiers. Right now, you only have to hold on to $FUD. Since the tiers are being lowered and the price of The Potato is inexpensive in comparison, this should not cause any issues.
- Burning shitcoins for $GATR. If you hold The Potato and you hold Cooler Pepe, you will now be able to swap shitcoins for $GATR instead of a game card. This expands your options. The purpose for this is we want no barriers of entry to our product. You have to admit, once you get a card or two, you get hooked. We want people to love the NFTs. If they do, they will buy $FUD.
- Farming. We will be creating farming NFTs. These NFTs will allow you to farm $GATR at different rates depending on which one you get. We will have a 48, 100, 250 and 500 level farming NFT. The process is a bit more complex, but I will let you know a couple of things: a) you will need The Potato, Cooler Pepe, LP points and the Farming NFT to farm (yes, you have to hold all of them.); b) each farming NFT will include an allotment of $GATR. A snapshot will be taken before the release of $GATR (a 500 NFT will receive 500 $GATR.) Lastly, The farming NFTs are expected to be auctioned off for $FUD and all $FUD received will be burned.
- AND, those who have the “Early Investor” badge will receive a rare Potato card after purchasing the regular one. This will be airdropped for free (and we get to test how those work — win, win.)
Memberships will now also get rewarded for longevity and loyalty. An NFT badge will be given out at 3-months, 6-months and 12-months, etc.
Our plan is to lower requirements for lower tiers and these will be re-evaluated on a monthly basis moving forward and can change due to price fluctuations. Our objective here is to remove barriers of entry for new players while keeping whales and higher tiers exclusive. We are even contemplating a higher than “Whale” tier moving forward. We will call it a “Founders” tier.
The Founders Tier will be the highest, most exclusive tier. It is highly likely these will only be available to 1–3 people (and our team is not allowed to participate.)
Burning Shitcoins For $GATR
How this works moving forward is when you fill in the form, you will choose either to receive the card, receive $GATR (which will be held until launch at time of writing) or both.
To use $GATR as an option we will check to ensure you have both NFTs required.
If you want both the card and the $GATR, there will be a small fee in $FUD that must be submitted. These funds will be burned along with the shitcoins.
Choosing one option will incur zero costs.
Snapshots moving forward will be of an entire week. We will have a regular NFT/card distribution cadence soon. So it will be more predictable moving forward.
To be clear you will need to hold all requirements for one-week leading to an airdrop or swap. Failure to do so will cause you to miss the release.
I will not go into specific detail on what the return rates are right now. I’m just going to tell you that there are going to be 4 levels of farming NFTs. On the NFTs, it will have a number along with graphics that indicate 48, 100, 250 and 500.
These NFTs will be very limited and will amount to in total, if you add all the numbers, to 50,000.
If the sale of these initial NFTs go well, we will have a 2nd Edition release of another 50,000.
As a reward, these NFTs will include a free airdrop of $GATR on release corresponding to the number on the NFT. This is included as a free bonus for obtaining the NFT.
The NFTs are a utility that will farm additional NFTs. These new NFTs can be traded or redeemed for $GATR. Details on how we will do this is forthcoming and methods may be subject to change.
LP tiers will work as a multiplier to the farming system. All the specifics will be coming out later this month.
We all want $FUD to be special. And we feel these changes are in the best interest of everyone involved. There are no DeFi projects that do not contemplate LPs and we really shouldn’t be any different if we expect to evolve upwards.
Our ecosystem and methodologies are still very different than other projects and we have a better, more stable, ROI. It will only get better.
** Just know we are still working out the new tiers. Will have something done soon — just had to get this out so we can all review.