Update & F.A.Q. — March 20th
The last 24 hours have been a whirlwind! In that time our team has launched the $AAH token liquidity as well as dropped our Series 1.3 Card into the Layer-2 farms (xDai, Matic, and BSC). In under 24 hours we have over $100,000 in liquidity in our AAH/ETH pool as well as over $1,200,000 in trading volume on Uniswap! We want to thank the community for sticking with us up to this point and supporting our project. We have much more to show and have just begun scratching the surface!
With that said, a number of folks have asked for greater visibility into the project and our future. We held a survey over the last week allowing the community to ask any questions that were important to them. We have answered those questions here. Let’s hit the big ticket items first:
Tokenomics & Public Art Sale
The tokenomics for the $AAH token are as follows:
$AAH tokens are generated by swapping Community Founder NFTs for 1,000,000 $AAH tokens on nft20.io website. Only Community Founder NFTs can be swapped for $AAH tokens. No other NFTs from Ahegao will ever be swappable for $AAH as the contract is based specifically on the Community Founder NFT collection.
However in actual numbers each Community Founder NFT is worth exactly 1,052,631.58 $AAH. We made it this way because nft20.io requires a 5% transaction fee on all swaps and we wanted each Community Founder NFT to provide exactly 1,000,000 $AAH to its holder. These 5% fees will be distributed to all $Muse holders meaning that all $Muse holders (at the time of this writing being over 4,500) will also be $AAH holders. We think this is a great distribution mechanism to get $AAH in the hands of NFT advocates as well as contribute to the $Muse ecosystem which has allowed us to have a unique launch with our Initial NFT Offering (I.N.O.).
With these details now in hand, let’s talk max supply:
- 248 Community Founders NFTs minted
- Max Supply is then: 248 x 1052631.58 = 261,052,631.84 $AAH
- 200 Community Founder NFTs dedicated to White List + Public Art Sale
- 12 Community Founder NFTs dedicated to Partners/Early Contributors
- 12 Community Founder NFTs dedicated to Treasury (Governance control)
- 12 Community Founder NFTs dedicated to the team
- 12 Community Founder NFTs dedicated to original artist
We have renounced minting capabilities from Community Founder NFT here: https://etherscan.io/tx/0x6020b7e23c46ee6a11b289d67284c90ed39e1933ed54274beb2a2c2433105d37
1 week before our Public Art Sale we held our White List event. Members of Ahegao who had joined our telegram early were offered a form to fill out. This allowed each member to reserve exactly 1 Community Founder NFT based on their unique telegram username and ethereum address for 0.15 $ETH. All community members who either participated in the White List or Public Art Sale received a Community Founder NFT for 0.15 $ETH, no more, no less. Sales were done through OpenSea using a private sale for each users Ethereum address.
Whitelist Event Statistics:
- 101 users applied and were accepted into the whitelist
- 44 users signaled a purchase and bought 1 Community Founder NFT
We held our Public Art Sale between March 5th — March 12th, 2021. During that time anyone from the crypto community was able to come to OpenSea and make a bid for our Community Founder NFT for 0.15 $ETH which was accepted. We did not sell out (details below).
There was no pre-sale, seed round, or private event. All sales were open to the public and all community members paid the same price for the Community Founder NFT.
With these details now in hand, let’s talk current supply:
- 113 Community Founder NFT sold in White List + Public Art Sale
- 6 Community Founder NFT provided to Partners/Early Contributors
- 0 Community Founder NFT used from Treasury — 80% Locked till May 12th
- 0 Community Founder NFT given to team — 100% Locked till May 12th
- 4 Community Founder NFT provided to artist — 33% locked till April 12th, and May 12th.
From the 200 Community Founder NFTs dedicated to the White List and Public Art Sale exactly 87 NFTs were left over. With this the team used 28 NFTs to lock liquidity paired with 7 $ETH in Uniswap (effectively giving each Community Founder NFT a price of 0.25 $ETH), and within the last 24 hours the price of $AAH has reached almost $.02 giving each Community Founder NFT approximately the value of over 10 $ETH. The liquidity provided by the team has been locked for 2 months (May 19th, 2021). Transaction here: https://etherscan.io/tx/0xdb244497e5d82d1f9bc041b54a5eec3a17444407517daba9c2bb7534a5acfeae
Exactly 87–28=59 Community Founder NFTs along with the original 12 will all be dedicated to the treasury. This means we will have a large war chest (71 Community Founder NFTs) or ~30% of $AAH tokens dedicated to moving the project forward towards success.
This means exactly 71 (Treasury) +28 (Liquidity) +12 (team) +4 (artist)=115/248 Community Founder NFTs are effectively out of circulation, or ~46%. We have locked 73,000,000 additional $AAH (80% from treasury) after converting to $AAH tokens in team.finance here: https://etherscan.io/tx/0x169c50b59cc25cbb74aed7df71223ccce4636379705351daddb93b51f5d3ce7e
From our discretionary funds we have provided 6 out of 12 Partner NFTs to community members. These were given to folks who provided their services to bootstrap the Ahegao project when the AAH token had no value. We thank them for their past, current, and future contributions!
Legendary AAH/ETH Liquidity Pool Farming
As part of our launch with locking liquidity in Uniswap from the team. We will also be launching our main NFT farm on Ethereum Mainnet. This will be our legendary farm where all highest-quality Hentai, original artist sketches, and more will go. We will be accepting Uniswap-V2 AAH/ETH tokens to be staked in our legendary farm for accruing points to purchase each of these unique NFTs. This will also be the farm where community members will be able to get high-quality 2D versions of our women in beautiful Ahegao custom branded card frames. We expect launch in the next 1–2 weeks.
One of the aspects that is new for the crypto-currency space is that we launched with an Initial NFT Offering. Meaning that we did not have any tokens at launch, only Community Founder NFTs that were sold. We have partnered with NFT20.io to allow us to ‘tokenize’ our NFTs if users wish to swap their Community Founder NFT for $AAH tokens, but be careful. It’s not so easy getting them back because it will require the exact amount of $1,052,631.58 $AAH to get one Community Founder NFT by swapping for $AAH. We have yet to decide what special powers Community Founder NFTs have over just $AAH tokens, if any. For now the important things to note are:
- Each NFT swapped goes into a $AAH token contract itself, you can see here: https://opensea.io/accounts/0x7a911c71144f4d5a00e4216b1c5b12d9571e9336
- This is what it looks like when someone swaps their Community Founder NFT for $AAH (in this case 2): https://etherscan.io/tx/0x4af3d6b4746f2b5cc15e9830bf3df530f4f2b07ef720be413d30af5a9ef05b61
One of the most important aspects of our project is bringing it to a point where it can be a self-sustaining DAO. Such that if any of the members were not able to move forward the existing community could quickly replace the lost resource without detriment to the project.
One key aspect about governance however is it can be difficult. In fact we have seen governance (or the lack thereof) become one of the main issues in allowing a project to move quickly. So with this in mind we have come to the conclusion that the best approach to mature the project is through a phased series of steps towards governance. Starting from a mostly centralized point where the team can move quickly to create and deploy what’s needed for a successful project to bootstrap (and compete). To a more decentralized autonomous organization which has the capability to continue to be successful with no specific leader to point to.
With this in mind we propose the following for our phased approach through to full DAO governance:
- Start with the Ahegao Citadel, a group made up of 4 team members and 3 community members to generate consensus based on community direction.
- Build a snapshot.page voting mechanism allowing $AAH holders to vote on proposals. However proposals will only be done by Citadel members.
- Move to full DAO governance either through simple proposal/majority vote or more elaborate hierarchies using tools such as Colony on L2 chains (xDai).
Short Term Roadmap
As we move to decentralized governance over the next few months we as the collective team for Ahegao DAO need to make sure that we sow the seeds for success. In terms of specific roadmaps we have always wanted to under-promise and over-deliver and we have accomplished that so far. With that in mind our near term Roadmap is as follows:
- We have a expert web developer working on version 2.0 of our website including a new native farming experience in our site.
- We are working on partnerships with established tokens that will utilize our NFTs for staking in their platform for rewards.
- We are working on expanding our artist line up to include additional artists for our farms so that we can be the premiere platform for all Hentai content on blockchain.
- We are setting up the structure to have established governance along with team members who can run the day to day activities of the project.
- We will be exploring new lines of NFTs based on our culture. From OnlyFans, to Ahegao Twitter stars.
- As stated above we will be launching our Legendary Liquidity Pool NFT Farming in the next 1–2 weeks which will have the most exciting Hentai NFTs on the market!