What is EGGZ???
EGGZ is a 500 piece collection of AI Generated eggs on the Avalanche C-Chain Network.
The EGGZ were generated using midjourney, using a commercial subscription.
EGGZ is a community project and in no way affiliated with Chikn.
EGGZ in an eggshell…
- The EGGZ project was minted through https://eggz.chi.kn and sold out in 7 hours.
- The cost of EGGZ was 10 $EGG/$AVAX JLP — approximately 90 $EGG and 1.4 AVAX at the time of launch. The JLP tokens were locked up automatically during mint and can be located here.
- The primary goal was to lock up liquidity to support the Chikn ecosystem. During the mint, approximately $25k of liquidity was locked. — Thanks Chikn family, you are AWESOME!
- EGGZ are upgradeable NFT’s, burning tokens from the Chikn ecosystem to determine once and for all the best legendary chikn head trait!
How was the liquidity locked?
By adding $EGG and $AVAX to the Trader Joe liquidity pool we provide a method for Avalanche Web3 users to trade EGG for AVAX and vice-versa in a decentralised manner.
When you provide that liquidity Trader Joe provides you with an ERC20 JLP token as a receipt for that liquidity. The JLP tokens can then be used to redeem your share of the pool (withdraw), or could be used elsewhere for staking (such as on your Chikn FarmLand).
In order to lock this liquidity, we automatically sent the JLP to an address on the Avalanche C-Chain for which we do not have the private key: 0x000000000000000000000000000000000000e665
By using an address to which there is not a known private key, we effectively prevent those tokens from ever being recovered.
During the mint, we locked 5000 JLP, which equates to about 0.65% of supply at the time of writing this article.
So that’s great and all, but wen utility….????
Knowing the wonderful Chikn community, and the inevitable ‘wen’ comments that would follow mint, it was important to make sure we had utility at launch.
Given the rivalry between the various legendary head traits in chikn, with Tungsten and Box Head maxis being forefront, we decided it would be fun to include a mini-game to determine the best head trait once and for all….
So the utility of EGGZ was born. EGGZ are upgradeable NFTs (because nobody wants a static JPEG any more). We decided to take concepts that the community were familiar with and gamify them in EGGZ…..
KG
EGGZ have weight, measured in KG. This can be upgraded by burning $EGG. In order to burn, you will first need to approve the EGGZ contract to be able to access your $EGG:
Once approved, each EGGZ should give you the option to upgrade.
*Note that at any time you can move the slider all the way to the left and hit approve to REMOVE your $EGG approval*
The cost of increasing the KG of your EGGZ is KG² — in the example above, the EGGZ is 7kg, so 7² is 49 $EGG.
Great, what does KG do?
Your EGGZ can emit one of 5 ERC20 tokens: $TUNG, $BOXH, $DAFT, $MRCA or $GBD — one for each of the 5 legendary chikn head traits: Tungsten, Box Head, Daft Punk, Murica or Golden Bone Daddy.
The amount of tokens emitted per day is equal to the KG of the EGGZ.
Emissions are like $EGG from chikn, and the amount that you claim is based on the size of the EGGZ at the time of claiming.
Emissions
So as mentioned above, your EGGZ can produce one of 5 utility tokens. You get to choose which using the Change Emission button.
The first time you choose your emission token, there is no cost (other than gas). After that point, you can change emission at any time for a cost of 10 $EGG Burn.
Naming Service
As with chikn, Roostr and FarmLand, you are able to name your EGGZ. This carries a cost of 20 $EGG Burn.
The name, along with KG and Emission Type are all on-chain and committed to the metadata of your EGGZ.
I have these $TUNG/$BOXH/etc tokens…. Now what?
So we’re producing these tokens, and as mentioned above the goal is to determine the ‘best’ legendary chikn head trait…. In typical Chikn fashion we have a burn mechanism to cast your votes!!!
At the top of the page, you’ll see a ‘BURN’ option…
As you claim your emissions, you’ll see the tokens available to burn. When you burn, those tokens are destroyed, casting your votes forever into the EGGZ eggosystem (sorry Chikn, stealing your terminology here).
Once burned, you’ll be able to see the results on the Leaderboard:
All claims and burns are recorded…. maybe for future use???
Secondary Markets?
EGGZ is available through the usual secondary markets on Avalanche, and is verified on JoePegs.
At the time of writing, there have been 88.75 AVAX worth of sales on JoePegs.
PLEASE NOTE: There are NO secondary market royalties.
What’s Next?
The mint was a resounding success, thank you dEGGenerates!
Of course, we are not planning to stop here. Some of you have noticed in the metadata a couple of additional fields… We have things planned, but ask you to be patient as it will take time for us to build.
In the long run, it will be worth embiggening your EGGZ. As you are well aware:
You can’t buy time!
- Gribbly
Initial efforts will be to provide updates to the website based on community feedback, and go from there!
