What is a veNFT?
A next gen #alphadrop…
The journey of the DegenVC Degen Labs venture has been an interesting one. The myriad definitions of alpha value have surprised us and the good and bad are par for the course. Some hate the notion of buying after a drop and others love the free alpha we give them from each project. It’s a moveable feast however our commitment remains steadfast towards our DGVC LP #degenhorde.
With this frame in mind, we present the next gen in #alphadrops…the vesting NFT. Vesting NFT’s are not a particularly new concept in DeFi, however we’re sure it’s the first time that aloha value has been delivered to a community in this fashion.
What is a vesting NFT?
A vesting NFT, or veNFT, is a unique value derivative in the DeFi ecosystem. It allows users to claim tokens daily over a predetermined period of time whilst permitting users to see the NFT with the promise of future unclaimed tokens.
This new type of token distribution has been used in the Rarity 2 #alphapdrop to ensure a couple of things happen:
- Token holders are not give 100% of their allocation in one drop — prevents market dumping when liquidity increases.
- Tokens are drip-fed to hodlers through the veNFT on a daily basis. These can be claimed through the UI, the smart contract, or not claimed, creating value ofthe veNFT on the secondary market.
- A secondary market exists where hodlers can realise the value of their veNFT rather than selling into market liquidity and suffering unnecessary slippage or front-running.
The Rarity 2 veNFT #alphadrop
We #alphadropped 5% of the Rarity 2 supply (5m tokens) today to DegenVC LP’s. These will appear in your wallets as NFT’s, and the tokens embedded therein an be claimed on a daily basis for the next 365 days.
The market for the Rarity 2 veNFT is here — list away and good luck!
Learn More
Website: 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
