DeGems NFT🔺 @degemsnft - Twitter Profile

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about 2 years ago

Lets talk what rocks! DeGems your friendly neighborhood Co-Op NFT. But what do we mean by Co-op? In the digital landscape of web3 we most projects are very PVP, whoever gets in first or sells first often wins at the expense of other users. It doesn't have to be like this with DeGems. Things work in reverse here. Diamond handing an NFT doesn't benefit our project that much But things like dumping & over selling can benefit our ecosystem! How is this possible? DeGems features a unique pot where $AVAX is accumulated. You can instantly burn your DeGem NFT for your NFT's share of the pot. No more illiquid NFTs—just burn it, take your share, and go. The more Avax that is in the pot the more you can liquidate your NFT for. Where does the Avax in the pot come from? When a DeGem is traded on a marketplace 80% of the Royalties go to the Pot. When a DeGem is Liquidated for Avax a hidden locked 4% goes to the pot. When a DeGem is Shattered your NFT is burnt and the entire Avax value tied to that Gem is goes to the pot in exchange you get our utility token $Zen. You can also Donate $Avax to the pot and receive our Utility Token $Zen as well. Some of that Avax will go to the Zen LP. On the initial Mint 90% of the the Avax from the mint goes to the pot. meaning if you minted for 1 Avax immediately after the mint you can liquidate your DeGem for 0.90 Avax. Our Utility token $Zen serves as "Proof of Pot," meaning that the existence of Zen proves that AVAX has been added to the pot. Zen is also our main utility token. It can ONLY be created by adding AVAX to the pot and can be burnt by using some DeGems utilities. At launch Zen can be used to Reroll rarity of DeGems as well as Mint a new DeGem post mint by burning Zen. Due to the nature that Zen serves as proof that an amount of Avax has been added to the pot the creation of new DeGems post mint is possible without hurting the pot. This is a rather expensive thing to do and it is designed in a way to ensure more Avax is added to the pot than taken from it on creation of a new DeGem. The power of DeGems comes from the collective actions of all of you! The more degenerate actions taken, the more AVAX our pot accumulates! This stoic approach prevents the floor from ever being eaten by whales or bad actors and ensures there is always exit liquidity for our users! I invite you to join us on this strange and experimental journey to see if we can make it together!

DeGemsNFT's tweet photo. Lets talk what rocks!

DeGems your friendly neighborhood Co-Op NFT.
But what do we mean by Co-op?

In the digital landscape of web3 we most projects are very PVP, whoever gets in first or sells first often wins at the expense of other users.

It doesn't have to be like this with DeGems. Things work in reverse here. Diamond handing an NFT doesn't benefit our project that much But things like dumping & over selling can benefit our ecosystem!

How is this possible?
DeGems features a unique pot where $AVAX is accumulated. You can instantly burn your DeGem NFT for your NFT's share of the pot. No more illiquid NFTs—just burn it, take your share, and go.
The more Avax that is in the pot the more you can liquidate your NFT for.

Where does the Avax in the pot come from?

When a DeGem is traded on a marketplace 80% of the Royalties go to the Pot.

When a DeGem is Liquidated for Avax a hidden locked 4% goes to the pot.

When a DeGem is Shattered your NFT is burnt and the entire Avax value tied to that Gem is goes to the pot in exchange you get our utility token $Zen.

You can also Donate $Avax to the pot and receive our Utility Token $Zen as well. Some of that Avax will go to the Zen LP.

On the initial Mint 90% of the the Avax from the mint goes to the pot. meaning if you minted for 1 Avax immediately after the mint you can liquidate your DeGem for 0.90 Avax.

Our Utility token $Zen serves as "Proof of Pot," meaning that the existence of Zen proves that AVAX has been added to the pot. Zen is also our main utility token. It can ONLY be created by adding AVAX to the pot and can be burnt by using some DeGems utilities.
At launch Zen can be used to Reroll rarity of DeGems as well as Mint a new DeGem post mint by burning Zen.

Due to the nature that Zen serves as proof that an amount of Avax has been added to the pot the creation of new DeGems post mint is possible without hurting the pot.
This is a rather expensive thing to do and it is designed in a way to ensure more Avax is added to the pot than taken from it on creation of a new DeGem.

The power of DeGems comes from the collective actions of all of you! The more degenerate actions taken, the more AVAX our pot accumulates! This stoic approach prevents the floor from ever being eaten by whales or bad actors and ensures there is always exit liquidity for our users!

I invite you to join us on this strange and experimental journey to see if we can make it together!

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