Hey guys, Tom here.
I know there’s some people concerned about the project so wanted to chime in.
We’ll call this the current state of Taiyo and “Press release” v1.0.
Key words:
Taiyo = GEN1/2 holders currently.
Graphite = @Graphiteproto the new coin we’re building for the project.
Scrap= Current Coin made by the old Taiyo team and what Taiyo Gen1 currently earn.
Pilots = GEN3 mint coming soon.
Ruggers = Taiyo Robotics is a project we bought from an old team who had no intentions to carry on with the project.
1. Scrap
I admit that we should’ve raised the infant breeding count but hindsight is 20/20 in this game and nothing can be done to change it, right now we’ve burnt a total of 1.6m scrap out of 5m supply; we still have 2.7m in the team wallet to issue rewards with. Scrap was a coin made by the team before us, a group of ruggers who when I asked what their plan was, they replied “Well it was just to sell out”, at the time when we did staking and our rewards in mind it was always the intention that we were going to use Scrap as a transition coin and try to burn as much as possible before transitioning into Graphite.
So what’s the plan?
- 300 hoodie drop minted in scrap, sent to holders out of our pocket ( we’ll pay in usd ourselves). With current scrap prices, we’re going to drop 300 hoodies at 500 scrap. We’re going to be paying out of pocket for the Merch and shipping to each of the holders of the NFT, this in hopes will burn 120,000 scrap drop one, and we’ll be doing a monthly drop each month out of pocket (team losing money since we burn the coins) to try and increase the burn before Graphite.
- Customization assets: We changed our system now to support if something is taken or not to the best of our ability we are now ready to drop the assets, we’re going to be dropping each asset semi often and it’ll cost around 300 scrap per drop due to current prices, we’ll price the assets per drop we do and we aim to drop a few assets a week and make something out of it. Aiming to burn 50–100,000 Scrap per drop, ideally.
- Swap scrap for graphite: We’ll allow people within a certain period to swap scrap 1:1 for Graphite as the coin comes out.
- Taiyo pilots. Currently we plan on raffling 4200 Pilots in Scrap, we may change the system later on to a Dutch auction where we can increase the burn with the “guaranteed” aspect. We plan to burn an additional 1.2m Scrap with our Pilots and gather outside interest.
- Using our “Stock” of GEN1/Oil/Infants for raffling/auctioning in SCRAP.
So what is Taiyo?
To me I view Taiyo as basically a project that is building gateways for other projects; we want to use our power in Taiyo and community to make holders money and offer tech services to others. but offering someone to do staking is not really good business, so how do we make it more exciting?
In my opinion, the best way to benefit holders is to do what our incubator model proposal was. Which is, we take in other projects and allocate x% of the supply to Taiyo stakers/holders through either whitelist spots, Graphite mints,Airdrops. Instead of taking payment from our incubation partners we’ll be rewarding the holders.
Coins/Tokens honestly aren’t a good way to make money because in order to sell it you have to hurt the price/someone else. It’s a flaw in the liquidity pool concept as opposed to free market trading where in order to sell someone needs to buy, us pumping liquidity in the project is another option but it’s hard to sustain this in the long run.
This is Taiyo in my mind:
Taiyo is a tech project that is focused on elevating the Solana Eco-system through technological innovations. Our biggest innovation that has proven to work is our launchpad, which has successfully stopped bots from destroying the network on every mint we’ve done. We want to open up this technology under Graphite and let the Eco-system use it and use Graphite as a true utility token, but how is that interesting to holders?
Well, i think it opens up a unique position for us to allow Graphite to be used to mint NFT’s and to power the Eco-system basically using Graphite as a gateway for $SOL income without the need for conversion or dumping the LP. Graphite can be a token that is focused on entries to other mints/cool events by using your tokens earned through passively staking your NFTs. So how do you convince projects to allow for Graphite mints?, burn all the tokens?, or benefit Taiyo holders?
Well, the answer comes us extending our involvement with these projects risking our brands name to work with them, offering derug guarantees on anything we attach our name to, in order for someone to come in and take our place they’ll need to have a proven track record of delivering, be big enough that people would want their stamp associated with them, there’s very few people who can take our spot in this market currently so we believe this is a long term proposition.
Tldr; With this model, Taiyo holders get a “stake” in every project we incubate just by holding our NFT this stake will be discussed on a per project basis and could include whitelist allocation, mints in Graphite, Airdrops.
So what else is there?
1- We bought SolSteads as a way to expand our incubator model we have in mind, we now have created a whole world, we can offer/upsell to projects to attract the best launches, we have to do Stead holders proud, so we’re building it out for them as well and have a dedicated team/CEO for that project right now. Taiyo will be one of 6 projects to have a whole world built, not just a biome; more info later, we’ll chop this up to “World expansion around pilots” etc.
2- Oil/Art revamps- We dropped Gen1 and people are saying where’s infant oil our reasoning for not dropping the infant oil is mainly because of the current market conditions we have ready to go at any point and will drop it at a undisclosed time.
3- Graphite timeline, well, at the moment we’re going through the legal work on how to “ido” the coin, it seems like a major pain in the ass, so we may skip the ido and try to privately raise it instead with a few investors. We’re hoping within the next 30 days graphite will be out fully, but we’ll have updates for you before then about how it’s looking. Some people asking me why IDO, well, the idea was that we could sell the tech right now. But maybe if we could get valued at a raise at the same price we would sell it at, we can control the whole flow and still offer Taiyo holders these unique opportunities like the incubator model/control of graphite etc, compared to just selling it privately and saying here’s the code. If it turns out to be too big of a burden for us, we’ll ditch the ido idea and try to privately allocate, and then drop it as is. 50% of Graphite will go to Taiyo holders over a vesting period.
4- Increase marketing/brand awareness for Pilots, get feedback on current art samples and try to find something people like the most.
5- We are finalizing our brand documentation with our new branding team and plan to start from 0 with our new brand direction; this includes web design/info graphite templates/Discord looks etc.
Conclusion:
We are here to stay; we are here to expand.
The NFT space moves fast, so I understand people are nervous about the future of our project but we are trying to take stuff to the next level through professionalism and treating this like a proper business; unfortunately somethings take time.
Some people want to pay someone else to create a “world” in some preexisting game engines; we want to create the game engine; some people want to settle for the preexisting infrastructure, we want to elevate it.
All my life it’s been about pushing boundaries and taking the most challenging options; that is why I decided to de-rug projects instead of making my own. I live for the challenge of making stuff successful and other than it being my job this is also my hobby.
