We are excited to share details for the first official NFT Drop on the DreamStarter Launchpad, a unique Liquidity Mint NFT from Dreamr Labs featuring 8-bit Sun & Moon PFP Style Artwork.
See the bottom of the article for an artwork preview!
*Mint date has been pushed back 1 day as marketing initiatives were delayed due to QuickSwap exchange experiencing a domain breach through GoDaddy. The protocol itself and LP funds are safe.
This NFT mint is designed to establish trust in the market for the DMR token by using the proceeds to create locked liquidity for the DMR-USDC Trading Pair on QuickSwap.
The 8-bit design SaM NFTs will be the equivalent of a DreamStarter VIP Pass, with benefits for holders including (but not limited to):
- Whitelist access to all future DreamStarter Launches
- Perpetual high-yield vaults that get rewarded in $DMR
- Airdrops from Dreamr and DreamStarter partners
- Multiplier Rewards, apply to all holder tier levels
- This NFT will hold special voting power in the DreamStarter DAO
Price will vary by purchase option and will be announced ahead of the mint date.
- After 12 months, this "Liquidity Mint" NFT will be redeemable for 50% of the purchase price in $DMR
- For Example: If the purchase price is 1,000 $DMR, 12 months after the mint, the holder could burn their NFT and be sent 500 $DMR to their wallet.
- This allows for NFT holders, who are also LPs in a sense, a second way besides NFT secondary sales to exit their position.
- Burning the NFT decreases the supply, making the collection and its existing benefits more scarce/valuable.
Why a "Liquidity Mint" NFT?
This mint was conceptualized by a special set of circumstances. Dreamr’s institutional partners began mass selling their DMR tokens immediately after the listing on Bittrex Global while at the same time requiring that Dreamr Labs provide (and continue to top-up) market liquidity. This "cash grab" technique re-claimed the majority of the private round funds raised for the project.
The DMR Token was meticulously planned for over 18 months to serve as the centerpiece of the dreamr ecosystem, and place power in the hands of platform users to engage in the development roadmap and incentivize the decentralization of Dreamr's technology. Regardless of how the listing went, we intend to honor DMR's role and fulfill its intention. Establishing market trust and liquidity is an important first step.
How does this mint provide liquidity to $DMR?
Users will be able to mint their NFT with $DMR or USDC, which will then be deposited into QuickSwap liquidity. The QUICK LP Tokens representing the liquidity will be locked via team.finance locking contracts and the balances made public, after the locked period (min. 12 months) is complete the DreamStarter DAO will decide on the next action to take.
If more DMR Tokens are received than can be paired with USDC received for liquidity then a) the DAO will pair with royalties collected from secondary sales, deposit into QuickSwap, with the subsequent LP tokens issued being sent to the lock contract or b) be locked up to remove them from the market, mirroring the timeframe of the LP token lock-up