Introducing BaconDAO and $BACON Token

BaconDAO Whitepaper

V0.3 | May 24, 2021

VirtualBacon brand started 18 months ago, with the mission to provide education and unbiased research on Cryptocurrencies for their followers to potentially make profit from. Over 1500 videos later, they have amassed a following of over 230,000 members across TikTok, YouTube, Twitter, Instagram, and Discord.

However, as the proverb says:

If you want to go fast, go alone.

If you want to go far, go together.

The biggest accomplishment for the VirtualBacon brand has been the incredibly experienced group of crypto enthusiasts and investors we have gathered.

Our community is now at 10,000+ members across Discord and Telegram. With a diverse background across Technical Analysis, On-chain Analysis, Trading, Investing, Degen Farmers, DApp Developers, Meme Masters, BSC Apes, NFT collectors, Artists, and much more.

We also have a team of 30 dedicated contributors releasing content daily on:

• Bitcoin market analysis
• Altcoin market analysis
• BSC gems
• NFT gems
• Layer-2 gems
• Token sale alerts
• More gem categories as they develop..

To develop our community to the next level, we introduce VirtualBacon DAO powered by the $BACON token.

Overview:

VirtualBacon DAO is the top crypto education and ventures community, consisting of 10,000+ members with various backgrounds in crypto. With a DAO structure, all members of the community are aligned on the success of BaconDAO and the $BACON token.

This creates a self-evolving community of knowledge and services that benefit all members. By holding the $BACON token, members are granted access to exclusive market analysis, Altcoin gem alerts, private sale opportunities, mentorship services, early access to NFT collectible drops, and a slew of other benefits.

All revenue derived from the BaconDAO project will be directly reinvested towards growing the community and improving its services.

The problem and BaconDAO’s solution

Sour taste

Crypto paid groups leave a sour taste in its members’ mouths. There is no way to refund or to express dissatisfaction with the group.

Instead of paid memberships, BaconDAO members simply need to hold the $BACON token in their wallet. If they are unsatisfied, they can get their money back at any time by selling their tokens.

Poor information

Paid groups often have low quality of information. Group leaders only focus on extracting the most value upfront with insanely expensive membership fees.

BaconDAO contributors have a vested interest to continue improving the content and services, and growing the community. All staff and contributors have a vested interest in the success of the community, as their profits are tied with the success of the $BACON token.

Lack of voice

Information provided in typical Crypto groups are not catered to the audience. Members do not have a way to voice their requests.

BaconDAO members can vote on decisions of the DAO by holding the $BACON token. The information and services of the community are catered to the specific requests of the members.

Lack of collaboration

Crypto groups are typically run by a few leaders and do not cultivate collaborative research and education. This significantly hinders the ability of the crowd to gather knowledge and discover opportunities.

BaconDAO cultivates a collaborative research and learning environment. Sharing of useful information and resources are rewarded, and all contributors are selected from the base community. This provides a positive feedback loop for the future growth of BaconDAO and its quality of information.

Difficulty of NFT investments

NFTs are difficult for the average investor to take part in. Early insiders and wealthy investors get the best pieces for cheap, while Small retail investors are left holding the bags.

BaconDAO’s will disrupt the NFT ecosystem by being the first
full stack NFT Incubator with a NFT Launchpad.

BaconDAO will be working closely with NFT artists, project teams, and partner platforms to provide full stack incubation services. BaconDAO members have priority access to our partnered NFT collectible launches through early sales and airdrops.

Revenue generated from the BaconDAO NFT Incubator will also be reinvested into the community through acquiring new NFT project partners, growing the NFT incubation platform, and buying back BACON tokens.

Exclusivity of private sales

Private sale allocations are usually only accessible by insiders with connections and large capital. Many experienced individual investors miss out on projects they understand and wish to support.

BaconDAO pools members’ funds together to invest in private sales of our partner projects. This allows small investors in our community to have the same chance in competitive token sales as large VC funds.

Varied experience levels

Crypto groups on Telegram have a mix of members with varied levels of experience. Many crypto newcomers and speculators are mixed in with DeFi veterans and serious investors. This makes it difficult to coordinate interest groups and collaboration. Moreover, new projects want to avoid “Pump-and-Dump” like groups for partnerships.

BaconDAO members are the most experienced group of investors. Our Discord server is carefully designed to facilitate gradual learning, and recognize people based on experience and interest. With the $BACON token, members need to understand MetaMask, Uniswap, DAOs, and the value of social tokens. Members are also tagged with their interest groups such as BSC, Layer-2, DeFi, NFT, and Polkadot. Members who show high levels of experience are also rewarded with $BACON and invited to the DAO as contributors. This makes BaconDAO the ideal partner community for new crypto projects.

$BACON Token

The $BACON token is an ERC20 token issued on the Ethereum Mainnet with a total fixed supply of 200,000,000 (200 Million) tokens.

Out of the total supply, the largest portion is dedicated to community growth. This is an intentional choice as the value of $BACON truly depends on the participation and support of its community.

The founding team will not receive any tokens for the first 12 months, as we are fully dedicated to the long term growth of BaconDAO and the $BACON token.

Total allocation is as follows:

• 30,000,000 (15%) $BACON will be allocated to the founding team. These tokens are locked for the first 12 months, then slowly vest monthly over 36 months.
• 10,000,000 (5%) will be allocated to our strategic advisors. These tokens vest slowly for 12 months.
• 42,000,000 (21%) will be stored in the reserve for future usage.
• 6,000,000 (3%) will be used to bootstrap the ask-side liquidity for $BACON trading pairs on DEXs.
• 2,000,000 (1%) will be airdropped to the initial team of contributors and long term members.
• 26,000,000 (13%) will be distributed in private sales to acquire strategic partners. These tokens are vested between 3 to 9 months.
• 4,000,000 (2%) will be distributed in a public sale.
• 32,000,000 (16%) will be allocated to building the NFT Incubation ecosystem. These tokens will be used as larger grants to onboard NFT artists, teams, and partner platforms. These tokens are vested over 12 months.
• 48,000,000 (24%) will be allocated to community issuance. These tokens will slowly vest over 48 months, with a monthly issuance of 1,000,000. These tokens will be used to strengthen the content, service, and community of BaconDAO. The slow vesting schedule will help sustain the long term growth of BaconDAO for the next 4 years.

Out of the monthly issuance of 1,000,000 tokens, the allocation is as follows:

• 200,000 will be used to pay the BaconDAO team salary
• 400,000 will be allocated to community rewards. These include community contributor rewards, liquidity mining, HODL rewards, and other event rewards
• 400,000 will be allocated to community grants. These tokens are used to reward projects and individuals that want to build and contribute to the BaconDAO ecosystem

The following is a detailed list of all allocations

Token Allocation Chart

Use of Proceeds Chart

Token Release Schedule

BACON Token Utility and Value Retention

$BACON token is the core membership, governance, and unit of exchange token for the BaconDAO ecosystem. The current and future utilities of $BACON are as follows:

• Access content and services such as Bitcoin and Altcoin market analysis, Altcoin gem picks in BSC, NFT, Polkadot, and other trending niches, token sale alerts, members-only chat, VirtualBacon’s alpha signals, news, and more.
• Access to exclusive private sale allocations
• Pay for services offered in community such as 1-on-1 coaching sessions with VirtualBacon
• Vote on BaconDAO governance decisions such as VirtualBacon’s video ideas, new channels for trending narratives, and community improvements
• Access early sales of BaconDAO incubated NFT collectibles
• Receive airdrop of exclusive VirtualBacon NFTs
• Tip other contributors in the community

Membership and Governance

To join the BaconDAO you must hold a minimum of 2000 $BACON in your MetaMask (or other Collab.land compatible wallet). This will grant you access to a number of privileges and rewards for simply holding tokens:

• Access to Discord channels for exclusive content, private sales, altcoin gems, token sale alerts, and more.
• HODL rewards in the form of exclusive airdrops and contests.
• Future on-chain governance proposals such as how to deploy the assets in Bacon NFT Vault to generate income for BaconDAO Members.
• Voting rights on proposals, determining the future of how the BaconDAO community is managed, and the content produced by VirtualBacon and other contributors.
• You help decide the future of the community and earn $BACON for doing so.

NFT Incubator

NFT collectible projects are launching at a rapid pace, most projects follow a similar token sale structure. However, a standard for Initial NFT Offerings is missing in the crypto space.

BaconDAO’s will disrupt the NFT ecosystem by being the first
full stack NFT Incubator with a NFT Launchpad

BaconDAO will be working closely with NFT artists, project teams, and partner platforms to provide full stack incubation services. We cover token minting, IPFS deployment, Marketing, Discord community building, NFT sale launchpad, integration with NFT marketplace and liquidity platforms and community tools.

Private Sales

BaconDAO provides its token holders with opportunities to participate in private token sales. Community incubators like DuckDAO have successfully incubated crypto projects from a grassroots perspective.

• BaconDAO is designed to facilitate an engaged and experienced community based on fundamental research instead of blind speculation.
• The DAO can help propel the growth of new crypto projects with not only crowdfunding but also invaluable and genuine community support.
• BaconDAO pools members’ funds together to invest in private sales of the most anticipated projects. Our experienced community differentiates from others as we are rooted in fundamental research and growth. We aim to truly understand the projects we invest in, and will continue to support their long term growth. This makes BaconDAO the ideal crypto community to raise funds from, and in turn BaconDAO members can access exclusive token sales which are otherwise reserved for VCs.

Bacon Farm

Members who wish to earn extra $BACON and help support the project can participate in the Bacon Farm. This involves providing liquidity to our pool on Uniswap and other DEXs.

• To be eligible for rewards you must hold a minimum of $200 USD worth of $ETH and $BACON separately in the pool. It is your responsibility to manage this and keep yourself eligible for rewards.
• You will earn a 0.3% fee on all trades proportional to your pool share.
• Bacon Farmers will also split 100,000 $BACON tokens at the end of the month proportional to their pool share. For example, if you held 10% of the pool you would receive 10% of the reward: 10,000 $BACON monthly.

About VirtualBacon

VirtualBacon has extensive experience in the Crypto space spanning across many roles. He has been involved with Crypto since 2014 as a DApp and Protocol Developer (ETH, EOS, Fullstack Web3), Miner (DOGE, ETH), Technical Analyst, Swing Trader, NFT Collector, Advisor, Influencer, Educator, among others. He has a degree in Software Engineering.

With his technical background, experience in decentralized finance, and passion for everything Crypto, he started the first and most successful Crypto TikTok channel. The VirtualBacon Channel has a focus on simplifying complex Crypto topics for the Gen-Z audience. With over 180,000 followers across multiple platforms, he is one of the most influential personalities in the Crypto industry.

Join BaconDAO today for more Analysis and Opportunities!

BaconDAO: https://discord.gg/bacon
Medium: https://medium.com/virtualbacon-DAO
Twitter: https://twitter.com/VB_DAO
Website: https://virtualbacon.com/