Glamping Pass
Alpha Camps is proud to announce the third NFT in its collection, the Glamping Pass!
BURN | MINT DETAILS
Mint Dates: June 15, 2023 -open indefinitely until if/when all Camp DAO passes are burned.
Supply: 125 (Camp DAO Pass token gated)
Mint Price: Burn four Camp DAO tokens for one Glamping Pass
Token: ERC-1155
Glamping is known as “glamorous camping” in the camping world. It’s a way for people to go camping in the great outdoors but do it in style whether that’s in yurts or other lavish settings.
The Glamping Pass is a glorified Camp DAO pass. Remember, each Camp DAO pass in this funding round counts at 0.1E towards your DAO investment (read all about it here). In order to get a Glamping Pass you must burn four Camp DAO NFTS to get one. Since you’re burning four, your Glamping Pass will still carry 0.4E toward the DAO.
What makes it special?
- Each Glamping Pass you hold will provide a dynamic passive income opportunity paid out on top of your total vested percentage payout each quarter.
- Each Glamping Pass you hold will count as five votes toward decisions made by the DAO, providing more say in the overall direction of the DAO each quarter.
- Glampers will have their own role/color in discord!
- Mint/Burn for the Glamping Pass will always be open until if/when Camp DAO passes sell out and all burns are accounted for (125 possible). This will create a fun strategy within the secondary market for both Camp DAO and GP holders after Q3 (more on this later), providing GP holders a chance to maximize profits.
As a refresher, Alpha Camps automatically receives 20% of the profits upfront each quarter. This helps pay for admin, taxes and more importantly, provides the means for passive income payouts to Glamping Pass holders.
Dynamic Passive Income Payouts
Depending on the performance of the DAO, Glamping Pass holders will automatically be sent ETH each quarter just for holding the pass. That amount will look different each quarter (hence dynamic). It will depend on a number of factors:
- Total profits made
- Amount of Glamping Pass holders
- Alpha Camps taxes and admin costs that may vary each quarter.
As long as the DAO is profitable, Glamping Pass holders will be guaranteed a pay out each quarter. If the DAO is not profitable or break-even, then there will be no payouts.
Let’s look at a few examples:
Example 1:
Member #1 holds 10 Camp DAO NFTS. They burn eight of them for two Glamping Passes and still hold two Camp DAO NFT’s after the burn.
DAO raises 20E for Q3
Member #1 total vested amount: 1E or 5% of the DAO for Q3.
The DAO brings in 3E of profit for Q3.
20% (0.6E) of that profit goes to AC.
5% of the remaining profits (2.4E) goes to Member #1 which is 0.12E
Let’s say AC takes 25% of that 0.6E. That leaves 0.45E to be distributed to all Glamping Pass holders.
Let’s say there are 15 Glamping pass holders. That would be a 0.03E passive income payout to each GP holder for Q3.
Member #1 gets 0.12E + 0.03E (GP Pass1) + 0.03E (GP Pass2) = .18E making up 18% of their initial investment in the first three months.
Q4 funding round begins and Member #1 can choose to reinvest that 0.18E or take the payouts.
Example 2:
Member #2 holds one Camp DAO pass.
DAO raises 20E for Q3
Member #2 total vested amount: 0.1E or 0.5% of the DAO for Q3.
The DAO brings in 3E of profit for Q3.
20% (0.6E) of that profit goes to AC.
0.5% of the remaining profits (2.4E) go to Member #2 which is 0.012E making up 12% of their initial investment in the first three months.
What to expect post mint
Q3 Funding Round: June 2023 is the only time that minting a Camp DAO NFT and/or a Glamping Pass acts as the funding round.
Q3, 2023 (July-Sept) Secondary Market: Any Camp DAO or Glamping Passes sold on secondary during this quarter will be the only time where they still hold 0.1E / 0.4E value towards the DAO. A snapshot will be taken at the end of Q3 for a final list of each members vested % and total number of Glamping Pass holders.
Q4 Funding Round and Beyond: Once Q4 funding round begins, Camp DAO and Glamping Passes are no longer attached to 0.1E / 0.4E anymore. Your initial investment is simply tied to your wallet now.
The Camp DAO mint will re-open every funding round but mint will be 0.1E still and its simply the cost to mint and does not count towards your funding round. This makes it even more important to mint this month (its essentially free) as moving forward, if you don’t have a Camp DAO NFT, you’ll need to pay to mint one AND send ETH to the DAO in order to participate.
What happens if a member wants to exit out of the DAO with all of their initial investment?
This is ultimately up to the DAO. There are unlimited scenarios that could unfold, so it’s simply having the member motion to exit and the DAO chatting and voting about it. Again, having those five votes with a GP could play a big role here.
What happens if a Glamping Pass is sold on secondary to someone that isn’t invested in the DAO?
In order to receive the dynamic passive income payouts each quarter, a DAO member must hold a minimum of 0.4E in the DAO.
Why mint or buy off of secondary in the future if the NFTS don’t contribute to the funding round anymore?
The Glamping Pass. Passive income just for holding. The more GP’s you hold, the more passive income and voting power you have rolling into each quarter.
Who’s ready to camp in style!??
Buy an Alpha Camps Pass off secondary: https://opensea.io/collection/alpha-camps
Buy a Camp DAO NFT off secondary: https://opensea.io/collection/camp-dao
Join Discord for education, alpha, and latest news: https://discord.gg/alphacamps
Follow on Twitter: https://twitter.com/Alpha_Camps
