Mar 14 2022
Dog
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Minimum bid: 0.05 WETH
DEGEN
DOGS
DO DEFI.
Degen Dogs?
Planet Degen is dying. The inhabitants of the planet have neglected the environment and used up natural resources at an unsustainable rate for years. Climate change has caused coastal flooding, forests have become deserts, temperatures continue to rise, and air quality has become almost unbreathable.
Most species of life have suffered from mass extinction. The only known surviving inhabitants are 1,001 Dogs. But the Degen Dogs cannot survive for long on the surface. Their only hope is to descend, one-by-one, to the Canine Laboratory Underground Base, the CLUB. The only entrance to the Degen Dogs CLUB, deep below the planet's surface, is via an elevator that has space for only one Degen Dog at a time.
As time passes, more and more Degen Dogs will join the CLUB, forming a DAO (Dog Action Organization). Together the Degen Dogs must plan for the survival of the species. How to best use the limited supply of Dog Biscuits (BSCT) to sustain themselves? Can they develop tools and accessories to reverse climate change and heal the planet? Or should they develop spaceships and related technology, to embark on a space voyage in search of a new home? And could the rumors be true, that some of the Cats have managed to survive as well? Members of the Degen Dogs CLUB will have to decide where they go from here...
Degen Dogs combine NFTs with DeFi. The degenerative art is inspired by Cryptopunks. The DAO and treasury is inspired by Nouns. The DeFi and money streams aim to explore a new community that collides the worlds of NFTs and DeFi into a new type of crypto dog off-leash park. Grab your Dog and join the Club.
Degen Dogs was a finalist and winner at the 2021 ETHOnline Hackathon, and is powered by Superfluid, Uniswap, Idle Finance, Tally, and hosted on Skynet. The website (dapp) HTML and CSS are modified from Nounds DAO, as is the Auction House contract, which was itself modified from the Zora Auction House contract -- used under a GPL licence. Nouns is a very interesting project, check it out.
Degen Dogs are sold via auction, with only a single Dog being auction at any time. Auctions are held at https://degendogs.club. Bids are submitted on the Polygon network in WETH (Polygon Wrapped Ether). When each auction ends, the auction is settled and the Dog is transferred to the winning bidder.
The WETH proceeds from Degen Dog auction are immediately and automatically invested in DeFi and start earning yield for Dog owners. The WETH is invested in the "Best Yield" vault on Idle Finance. Idle tokens representing the vault shares are issued to Degen Dogs contract. Distribution of proceeds is as follows:
- 50% for the past, 50% for the future
- 50% is streamed back to past Dog owners
- 10% is immediately donated to a charitable DAO
- The remaining 40% goes to the treasury, where it is controlled by the DAO.
Chew on that!
Degen Dog #1, the very first auction, will feature a special "Ukraine Dog" body trait, and will be the only Degen Dog with this trait. 100% of the proceeds of this auction will be donated to Unchain Ukraine. This special auction will last 72 hours.
Dog Biscuits -- BSCT tokens -- are ERC20 tokens issued to all bidders of Degen Dog auctions, including both unsuccessful and winning bidders. BSCT tokens are issued at a ratio of 1000:1 based on the bid submitted. For example, a bid of 1 WETH would result in 1000 BSCT tokens.
Degen Dog owners are members of the DAO: one Dog equals one vote. DAO members control the treasury and decide the future of Degen Dogs. (more info)
The artwork for Degen Dogs was inspired by the pixel art of Cryptopunks. The degenerative art combines 12 Dog body types with various accessories such as glasses, hats, earrings, and more. Some traits are more rare than others. There are 1,001 known Degen Dogs, each with a unique combination of traits.
Degen Dogs artwork is licensed under a Creative Commons Attribution license (CC BY 4.0).
For even more information, check the Degen Dog Docs.