Monthly Review | October 2022
With the release of Dollar Store Receipts and development updates, October was another busy month for the Capsule team. Read on for October’s recap and our upcoming objectives!
CapsuleNFT x Dollar Store Receipts
Since its release and subsequent delisting, the first dollar-backed composable NFT collection, Dollar Store Kids, has still managed to rack up over 315 ETH in trading volume on secondary exchanges.
Holders also had the ability to redeem their Dollar Store Kid NFT, receiving one dollar in return. Each Dollar Store Kid is a CapsuleNFT, with 1 USDC embedded inside. By today, 272 out of 3,333 D$Ks have been burnt, permanently reducing the Kids in circulation.
These burners also received a special Dollar Store Receipt NFT, which can be viewed on OpenSea. These Receipt NFTs will eventually be connected to our upcoming decentralized exchange, and Dollar Store Receipt holders will have special whitelist access to future CapsuleNFT projects bootstrapped and launched with our protocol.
For more information on Dollar Store Kids or the Dollar Store Receipts, follow our Twitter or join our Discord.
Upcoming Projects
As we move closer to the end of 2022, we have a lot of projects and partnerships we hope to share with the community. These projects include:
- CapsuleNFT launched a grant fund/incentivization program for web3 creators interested in creating their own NFT collection featuring composability, for which Dollar Store Receipt holders will have a ‘Dollar Whitelist’ access.
- Iron Capsules — special Capsule NFTs that allow users to add or remove underlying tokens without burning the Capsule NFT — are undergoing audit!
To more closely explore our upcoming objectives, read about the CapsuleNFT roadmap.
Community Shoutouts
Throughout the month of October, we’ve had an influx of discussion on our Discord channel. As such, we’d like to start recognizing some of the different community members who’ve been contributing the types of ideas that get us excited. This month we’d like to thank and highlight two of these exemplary members, Max and Chiefdegen.eth for brainstorming Capsule use cases and discussing news in the crypto space.
The Capsule team is working on a community project which will eventually be passed down to our Discord. Stay tuned!
Dev Updates
Website Improvements
- Added the ability to transfer a Capsule from within the application
- Further bug fixes
Smart Contract Improvements
- Begin working on deploying additional contracts and integrations to support upcoming Capsule projects
- Continue writing even more tests for the broader Capsule ecosystem
To follow our projects and releases, look forward to our announcements on Twitter and discussions on Discord!
