$SWIM for a Good Cause
SWIM_404 and a new take on conservation
In my decade-long career in immersive tech and crypto, I’ve constantly seeked ways to give back to the community. As I lay in bed the other day drafting the Blast launch article, it dawned on me that perhaps I could siphon some of this market action into trying something different.
What if I can provide the community an opportunity to make money through crypto degeneracy yet still provide a meaningful and positive contribution to society? The plan is simple: launch a series of projects using the most up-to-date web3 protocols for good causes; starting with $SWIM_404 on Blast.
Introducing the star of our show, the Axolotl
Axolotls are a critically endangered species of salamanders native to Mexico. Aside from their adorable smile, Axolotls have a unique ability to regenerate their limbs and even their brains. Studies on these unique organisms are pushing the boundaries of regenerative medicine in biotech today. SWIM_404 will launch 5000 Tearful Tadpoles tied to 1,000,000 $SWIM Tokens on BLAST where 100% of BLAST GOLD (Developer points) distributed to holders and 10% of initial proceeds and all future native yields will go towards the conservation of Axolotls.
Why 404
Pandora changed the game when they launched their ERC404 standard. Although the idea of merging fungible and non-fungible tokens into a new standard isn’t novel, having a working implementation of native fractionalization allows NFT projects to grow their members beyond their maximum supply (e.g. 10,000 Bored Apes). Since the NFT floor price is tied to the token price, holding the tokens alone can give you enough exposure to share in on the upside. Furthermore trading tokens burns and mints NFTs automatically, which means the act of trading itself is re-rolling your NFT Traits, naturally incentivizing liquidity and trading volume.
Furthermore, the 404 community has continued to iterate with DN404 improving the gas efficiency of ERC-404 by splitting the contracts in 2; paving the way also for marketplaces like Blur and Opensea to be able to display and move 404 assets without error. Ultimately 404 standards bring liquidity and native fractional ownerships to digital assets, giving NFTs a modern twist.
Why Blast
Yes, there was lots of backlash surrounding the Blast mainnet launch last week. I’ve written an article myself highlighting several of their shortcomings as well, however at the end of the day if we isolate their tech from their marketing debacle, launching a charitable 404 project on Blast makes total sense. While 404 provides liquidity and uncapped membership potentials to NFT projects, Blasts' optimistic rollup provides users and projects alike with native yield from Eth Staking and T-bills from MakerDAO. This means on top of project profits, if we launch blast native pools for our charitable project with ETH or stablecoin pairings, the 3–5% yield generated can continuously fund our conservation targets indefinitely.
Conclusion
I am beyond grateful for the community support over the past year as I try to bring unbiased, thoughtful analysis of the web3, gaming, and VR/AR to light. Hopefully, SWIM_404 is the first of many conservation-focused projects where we bring Impact Investing to web3; we can all live a little easier when financial freedom goes hand in hand with saving the planet.
Launch Time: March 20th at 1:00 UTC
IDO Price for $SWIM set at 0.0005ETH
200 $SWIM = 1 Tearful Tadpole NFT
2 Tearful Tadpoles MAX per wallet
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