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Popular Solana $NFT project DeGods has announced the release of its highly anticipated DEGOD tokens in collaboration with $NFT marketplace Sniper.
This launch aims to integrate the entire DeGods ecosystem, including y00ts and DUST, into a single unified entity.
The new DEGOD token economy will allow users to convert their NFTs or tokens into DEGODs as follows:
- Each DeGods $NFT can be exchanged for 550,000 DEGOD tokens.
- Each y00ts (Fuzzy DeGods) $NFT can be burned to convert into 120,000 tokens.
- Each DUST token can be burned and converted into 36 tokens.
In terms of distribution, 85% of the total tokens will go to $NFT holders, 10% will be allocated to the project's foundation, 3% will be reserved for Bonding Curve, 1% for initial liquidity, and 1% for the partner Solana-based $NFT marketplace Sniper.
As part of the token launch, a Bonding Curve will be added on September 16th at approximately 6:33 AM. The Bonding Curve is typically used to create a supply-demand based price mechanism and adds a layer of complexity to the token’s price action.
The announcement has already caused a significant market movement. According to data from Magic Eden, the news has led to a sharp increase in the base price of DeGods-related NFTs.
DeGods base price increased by 36.23% in 24 hours, exceeding 34 $SOL and is currently at 34.39 $SOL. Y00ts (Fuzzy DeGods) base price increased by an even larger 50.78%, exceeding 7 $SOL and is currently reported at 7.70 $SOL.
*This is not investment advice.