crypto has an alignment problem
traders chase volume
creators chase attention
protocols chase fees
and then communities are usually left with whatever survives
I think markets can be designed better
that’s what I’m building with @degenhoodfun
here’s the thinking behind it
413 Degen packs minted
87 to the rip gate
27.53% $DEGEN supply escrowed
$32,500 backed in the vault
1.3% $DEGEN supply burned worth $1,500+
Pack rips open at 500/1000 mints
413 Degen packs minted
87 to the rip gate
27.53% $DEGEN supply escrowed
$32,500 backed in the vault
1.3% $DEGEN supply burned worth $1,500+
Pack rips open at 500/1000 mints
The DegenHood treasury has minted 146 Degen packs using the 10% supply that was purchased fairly off the market
What they’re for: showing commitment to our cause, with scope for competitions, partnerships and collabs
They will remain sealed until they are shared through these channels
What they’re not for: we’re not activating them ahead of the Aug 13 reward pool flush. The pool belongs to the people who took the risk activating early - the treasury isn’t going to farm against them
Why say any of this? Because a wallet holds 146 packs and we’d rather tell you first. These are all backed by ~ 10b $DEGEN supply we purchased off the open market
413/500 minted in phase 1 - 87 packs until the rips begin
Per-wallet mint cap phase is over
Mint as many Degen packs as you like
Every pack is a vault of 66M backed $DEGEN tokens plus opening begins after 500 mints
600 common
250 uncommon
100 rare
40 epic
10 legendary
Random onchain and provably fair
Uncommon to Legendary come with a free booster upgrade from Tier 1 (1.25x) to Tier 4 (3.33x) reward weightings
Degens mint update!
85 of the 500 Phase 1 packs are gone
$4,350 of $DEGEN / 5.66% supply now locked in escrow, every pack independently redeemable for its full backing
1.3% Supply burned ~ $983 at current price
The 5 per wallet cap ends at 08:45 UTC, under 20 minutes from now
First creator fees have been claimed and routed to the onchain activated holder pool
Everything it collects before the flush belongs to activated Degens - and as of right now one Degen has activated max tier for 3.3x weighting
Flat price 1:1 $DEGEN backing until pack 500 ~ currently $51 of backing to mint - after 500 this is increased by 10% in eth and shared with the Degen pool
Then phase 2 opens, and the rips begin
Collection → https://t.co/JSuYyzxTFM
Mint → https://t.co/VF59IrTk6G
$DEGEN CA:
0x04d5D8a61DA0b6548B136412843aDBA55EbeaDE6
No leaders. No limits. Just Degens.
GIVEAWAY - 1 sealed DEGEN pack
That's 66,666,666 $DEGEN locked inside, redeemable any time. Sealed - could be one of the 10 Legendaries.
Nobody knows, not even us.
To enter: 1️⃣ Follow @DegenHoodFun 2️⃣ RT this 3️⃣ Drop your Robinhood Chain wallet below
Winner picked in 24h.
Pack lands in your wallet, sealed. What you do with it - rip it, stake it, crack it open for the backing - is up to you
https://t.co/CF7sgf1kVW
Phase 1 is LIVE
All future $DEGEN LP fees are now funnelled to activated Degens
1,000 sealed NFT packs available
First 500 backed by 66M $DEGEN fully redeemable on exit
After 500 then 10% fee applied paid back to activated Degens / $DEGEN buy and burns / Treasury
Split 66.66 / 16.67 / 16.67
Open packs to reveal your tier after the first 500 mints
Packs above common come with a free one time booster upgrade upto 3.3x reward multiplier
Every token launch contributes to the buy and burn of $DEGEN
Mint
Rip
Activate & Earn
Exit anytime with full backing
This is the beginning. Discover more on our Degenetics litepaper
https://t.co/TQ1UtwB0Q8
DegenHood Degenetics Launch
The Degens are LIVE
1,000 sealed packs on Robinhood Chain - and every single one has 66,666,666 $DEGEN locked inside
Two-thirds of the entire supply, backing this collection
That's not a floor price. It's an exit door that never closes: any Degen, any time, can be redeemed for its full backing
HOW IT PLAYS 👇
DegenHood Degenetics Launch
The Degens are LIVE
1,000 sealed packs on Robinhood Chain - and every single one has 66,666,666 $DEGEN locked inside
Two-thirds of the entire supply, backing this collection
That's not a floor price. It's an exit door that never closes: any Degen, any time, can be redeemed for its full backing
HOW IT PLAYS 👇