DegenVC Ecosystem Update
February 17th, 2021
Introduction
The first two weeks of February were the most frenetic of DegenVC’s young life:
- On 1st February NOS launched as a fork of Rock3t which had been opensourced the Friday before;
- Rock3t was #alphadropped and deployed on Thursday 4th February; and,
- HARDCORE was launched on Thursday 11th February.
$350k of value (at todays price) and $2,845,000 of value (at peak prices) was delivered to the DGVC LP (around 250 wallets) via #alphadrop in this period.
NOS
Degen Labs successfully took over the NOS fork. A third party audit was commissioned and is available on the NOS website. NOS is a version of Rock3t without any dev permissions or treasury.
At the time of writing it is trading on Uniswap at $0.40. At this price, $57,895 was #alphadropped to the DGVC LP by the dev seemingly as a gesture of thanks for the code. At peak prices (so far) their #alphadrops were worth $231,000k as prices spiked to $1.6 amidst a short term buying frenzy.
At current prices, we suggest that #alphadrop recipients should simply hold onto their $NOS. After Rock3t has completed some iterations and DegenVC succeeds in educating a wider community about the power of Liquid Vault liquidity could return to NOS attracted by its wrought-iron ambition.
Rock3T
At today’s price ($0.30) the #alphadrop to our $DGVC LP is worth $120,000. At peak value of $4.80 this was worth $1,920,000. After a small correction, it saw another spike a few days later on February 8th to $2.55.
$R3T’s market cap is $300,000 accounting for its circulating supply but it is $3,300,000 if you consider its total supply.
The Rock3T experiment is heavily controlled (by way of smart contract access) by Degen Labs. Therefore, unlike $NOS any and all things are possible. Rock3T even has a failsafe function (which, of course, could be revoked at some point) to unlock everyone’s LP.
Rock3T has two options:
- To continue and simply lean on eduction to bring liquidity to it over time. Treasury can be deployed into new Vaults; or
- To rebuild and relaunch embedding learning from launch 1 into a launch 2.
Degen Labs will present the case for each option next week after the Behodler 2 launch is finished. There are distinct parallels between the Rock3T project and its real world counterpart (actual Rockets) — they can be redesigned, improved and relaunched. The Rock3T project is designed for this.
HARDCORE
HARDCORE launched with the benefit of a larger audience starting to understand Liquid Vault technology.
It peaked at $94 which translated to $705,000 of value #alpahdropped. Currently it trades around $23 at which price the #alphadrop value is $172,500.
A number of strategies exist for HARDCORE. The community will need to decide what to do. For example:
- We could wait for the liquid vault to be be fully depleted and purchase the largest prize possible with its funds;
- We could take what the fund has today and run an initial game distributing this money as the prize.
The value of $HCORE is rooted in a business model, namely a popular game where players enter a contest and win exotic prizes. We strongly suggest that #alphadrop recipients hold onto their $HCORE. We will discuss this more in the next community update of course, and on discord.
Behodler
One of Degen VC’s earliest projects Behodler will launch a version 2 (B2) this Friday. The value of $EYE #alphadropped to the DGVC LP is currently $252,000 (todays price is $0.063). $EYE is closing in on ATH of $0.082 that liquidity attracted during last weeks excitement delivered.
In preparation for the launch of B2 many new articles have been created including:
Degen Labs has allocated two devs to TheGraph implementation for the new DEX and preparations are underway for liquidity mining where 35% of $EYE’s supply will be distributed as rewards.
ARTREX
In the same way that HARDCORE is currently accruing capital for prizes, ARTREX will grow a fund that will be autonomously distributed to NFT creators whose NFTs are “purchased” with points mined through staking tokens. This will be the first fully stand-alone, decentralised and fully autonomous NFT marketplace.
ARTREX will launch in three weeks. Buy and pool DGVC now to get this alphadrop.
Gitcoin Hackathon
We are narrowing the scope of our coming hackathon with Consensys’ Gitcoin, which will draw in 40,000 developers to our open source DeFi code base. Bounties could include:
- Support on unit tests across the behodler.io DEX ahead of liquidity mining
- A technical solution to distributing funds to NFT creators for our next project ARTREX (similar architecture to hcore.finance).
- Innovation on top of our recently open sourced Liquid Vault smart contracts — Liquid Vault 4.0. Focus on Rock3T 2.0
We will be finalising this in the coming weeks and discussing it on Discord.
DegenVC
It only remains to discuss $DGVC itself. $DGVC had a peak value of $6.00 back in late-August 2020 worth $4,500,000 to those who received the inception #alphadrop. At today’s value of $0.74 the circulating supply is worth $740,000.
The summary or headline of the above in financial terms is that as of today $1,157,395 of value (including $DGVC) has been #alphadropped to our community in total. If peak values are considered the peak value across all #alphadrops was $7,684,579.
To put this in simpler terms: the average DGVC LP holder would have spent $1,500 on the LP tokens and received $4,000 in alpha (via airdrops) at current prices or a whopping $30,000 in alpha [each!!!] accounting for peak prices.
DegenVC is not just breaking the mould of venture finance, it continues to invent something completely new and never before seen, most especially in the decentralized world!
$DGVC V2 will enhance the ecosystem substantially. It will level up the potential of the DegenVC model and supercharge the $DGVC token instrument. DegenVC will increasingly have the capacity to front run VCs because it can launch any tokenized project faster and more effectively to the crowd.
Degens are those that want to be the first to have a stake in new projects and trade their tokens. DegenVC is their way to achieve this.
Learn More
Web: https://degen.vc
Telegram: https://t.me/degenvc
Twitter: https://twitter.com/degen_vc
Discord: https://discord.gg/qK8uUqc9Jd
Reddit: https://reddit.com/r/DegenVC
