Forking $SOON Token
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This article should provide an idea to bring utility for $SOON token holders and the NFT ShimmerEVM markets.
As early community members which turned into builders ourselves, we have the interest to contribute to the community and the ecosystem creating value and benefits through innovative approaches. We appreciate the work of Soonaverse and their members participating in the NFT markets in the early days of the ecosystem. We were heavily involved in the Soonaverse ourselves. In addition we are currently in talks with Soonaverse’s taskforce to find greater interoperability between our protocols!
Therefore we are looking to bring benefits to $SOON holders, in particular to NFT users, adding completely new utilities!
Introducing $CYBER
$CYBER is an utility token with the focus to build a NFT treasury for NFT trading and NFT lending. The main utility of $CYBER will be providing liquidity in the form of NFTs and token to farm swapping and lending fees generating rewards for the treasury and $CYBER holders. All generated rewards will be used to buy back and burn $CYBER.
Furthermore $CYBER holders can vote on a per token basis which NFTs and NFT collections the treasury should focus on. Sweeping Floors of NFTs with the highest potential while earning swapping fees by establishing liquid markets for NFT trading. This will higher the confidence of new participants in the still young NFT markets on the ShimmerEVM.
$CYBER will therefore maintain a treasury based on NFTs and tokens which will enable the $CYBER treasury to offer NFT lending in the future. Lending gives users the possibilityto hedge their position while holding NFTs lowering the risk of longterm NFT holders against volatile prices. On the other hand, it enables to benefit from falling NFT prices as well as leading to more liquidity in the NFT markets, resulting in low slippage trading NFTs. The goal of $CYBER is to position as the backbone of ShimmerEVM liquid NFT markets including future Real World Assets (RWAs) based on NFTs. Only one $CYBER token will be used on Shimmer EVM and IOTA EVM.
Act I
22,96% of $CYBER supply airdropped to $SOON holders:
We have undergone a snapshot of all $SOON holders. Each holder will receive a 1:1 airdrop of $CYBER token for their $SOON holdings. The Snapshot was done on the 20.12.2023. A tool will be released to let $SOON holders on L1 SMR address provide a L2 address which will be verified and enable users to claim the $CYBER airdrop in January after a successful Fairlaunch.
22,96% of Supply airdropped to $AUREUS holders:
We will undergo a snapshot of all $AUREUS holders. All holders will receive 22,96% of the $CYBER token proportional to their $AUREUS holdings. The Snapshot will be done on the 28.12.2023. $SOON and $AUREUS holders claim the $CYBER airdrop in January after a successful Fairlaunch at the same time.
Act II
40% of the supply will be released on the Fairlaunch :
$CYBER will undergo a Fairlaunch on Tangleswap Investment Hub as soon as the platform is set up for public use.
Planned date Fairlaunch: 30th of december 7pm CET
(Link will be posted here ASAP).
Fairlaunch Overview:
- Raising: 2.800.000 SMR for 40%
- Marketcap: $266.000/7.000.000 SMR fully diluted
- Liquidity Pool: Will be opened instantly
- Participants receive $CYBER token and not LP tokens
The Airdrop will only be done if the Fairlaunch goal will be reached. Should the Fairlaunch doesn’t reach the goal Tangleswap’s Investment Hub will refund all participants automatically. This way participants can be secure the project can be realised and prevents participants from getting stuck in a half-funded project. It also provides planning security for the realisation by the team.
Act III
Use of funds 2.800.000 SMR:
- 20% $CYBER token liquidity pool (locked up 180 days)
- 40% NFT liquidity treasury for LPing
- 40% setting up Liquidity Providing and on-chain voting infrastructure for $CYBER holders
Launching in Q1 2024
Tokenomics
22,96% of $CYBER: $SOON holders
22,96% of $CYBER: $AUREUS holders
40% of $CYBER: Fairlaunch
9,08% of $CYBER: Treasury reserve
5% of $CYBER: Team incentive
100% $CYBER Supply / 100.000.000 $CYBER (total)
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