Frank DeGod took to Telegram to announce the launch of $DEGOD, a new Solana-based token with a supply of ten billion. But unlike most tokens from top NFT studios that launch as an airdrop, the $DEGOD token is a new coin that can be attained by swapping assets from the DeGods’ ecosystem. That means holders of DeGods, y00ts, and $DUST can swap their digital assets for the new token, potentially consolidating the entire ecosystem into one Solana-based coin.
Here are some of the tokenomics for $DEGODS:
- 1 DeGod NFT = 550,000 $DEGOD tokens. Mechanism: swap
- 1 y00t NFT = 120,000 $DEGOD tokens. Mechanism: burn
- 1 $DUST token = 36 $DEGOD tokens. Mechanism: burn
- 85% of tokens go to the community of holders
- 3% of $DEGOD sold on a discounted bonding curve to seed liquidity
According to a post from the DeGods.com, there are 41,241 unique holders across four blockchains in the DeGods’ ecosystem. Therefore, if the community chooses to convert their NFTs and $DUST to $DEGOD tokens, it will make for an organic, well-distributed launch.
The move from DeGods signifies a pivot towards memecoins, which will bring more liquidity to its ecosystem and could set up members of the community for huge gains if the token takes off in the future.
The news has already caused DeGods and Y00ts to pump. Over the past seven days, DeGods recorded over $2.1 million in total sales volume, an increase of around 300% from last week. Y00ts has surged by more than 200%, with over $1.1 million in sales (as per data from CryptoSlam).
The big move from DeGods has some people on Crypto Twitter buzzing with excitement, while others are skeptical of pivoting to a memecoin. But regardless of the different opinions, it should come as no surprise that De Labs and Frank DeGods are innovating in the space.
