OG SQUAD V2
OG SQUAD V2
SALES TRANSPARENCY REPORT
Written by Midnight, June 24, 2024
Table of contents
NFT Details
Pricing & Projected Revenue
Revenue Allocation
Staking Rewards V1 & V2
Thank You
NFT Details
The upcoming V2 NFT collection builds on the success of the OG Squad PFP V1, with careful consideration to ensure value and engagement for both existing and new participants for our NFTs. This report provides a clear and informative overview of the V2 sales plan, including but not limited to pricing, allocation, and how the initial sales will support the ecosystem's growth and sustainability.
The total amount of NFTs to be minted is set to be 100 NFTs. These NFTs are 1:1, only one NFT exists at any given time. The staking feature found in V1 will also make an appearance for V2. NFTs can be linked to the OG Squad dApp to earn daily $SQUAD rewards.
All V2 NFTs are presented with this opportunity if the owner of the NFT wishes to opt in, with the only noticeable difference is that 80 “normal” NFTs will be released that emit at a standard rate and 20 NFTs will emit at a slightly higher rate to reward higher rarity.
NFT DETAILS
Total NFTs: 100
Type: 1x1 NFTs
Staking Features: All NFTs eligible, daily drops.
Initial Sales use case: Ecosystem growth
Secondary sales ~5%: Creator, Midnight
Pricing & Projected Revenue
The sale price per NFT is planned to be 125 ALGO per NFT. This leads the Gross Revenue after all NFTs sold to 12,500 ALGO. We will be using ALGOxNFT and assuming the math is correct, after marketplace fees we will have a net revenue of 12,200 ALGO.
Summary Breakdown
Total Gross Revenue: 12,500 ALGO
Platform Sales Fee (2%): 250 ALGO
Mint Fee (0.25 ALGO per NFT): 25 ALGO
Registration Shuffle Fee (0.25 ALGO per participant): 25 ALGO
Total Fees: 300 ALGO
Net Revenue: 12,200 ALGO
Revenue Allocation
Let's discuss how all these ALGO obtain via initial sales will be used. I'm happy to announce all initial sales will be used for ecosystem growth and sustainability where SQUAD token holders, V1 NFT holders, surprise partnership NFT collabs + LP, algorand DeFi, and V2 holders will benefit.
The goal is to allocate 50% towards stable TVL creation to create and build stable LP with high demand and new + promising stables built on Algorand. As of June 24, 2024, $SQUAD has a total of $4,687 TVL, $1,958 being from stables and a market cap of $3,776.
V1 NFT Holders will get distributed 10% of V2 sales, regardless if you currently hold the rarest or most common NFT on V1. This is to reward any holders and a show of thank you for purchasing V1.
Three partnership collabs are in the works for V2, each partner will be reserved 5% of initial sales to build up LP tokens. 5% will be allocated to DeFi and Marketplace spotlight and the remaining 20 % will be allocated for “boosted rewards” for V2 Holders.
Revenue Allocation with 12,200A:
Stable TVL Creation (50%): 12,200 ALGO×0.50= 6,100 ALGO (create various stables LP and lock them up for 1 year)
V1 NFT Holders Distribution (10%): 12,200 ALGO×0.10= 1,220 ALGO (distribute evenly per NFT at undisclosed time. Need snapshot of holders)
Partnerships LP Tokens (3 x 5%): 12,200 ALGO×0.05= 610 ALGO (each partner)
DeFi and Marketplace Spotlight (5%): 12,200 ALGO×0.05= 610 ALGO
Boosted Rewards for V2 Holders (20%): 12,200 ALGO×0.20= 2,440 ALGO (buy back power)
Staking Rewards V1 & V2
The total amount of new SQUAD tokens that will enter circulation with V2 from reserves are set to be 2,000 tokens. These will be distributed evenly for 80 NFTs and slightly higher for 20 rare NFTs. The rare NFTs are 5 NFTs from each partnership collabs (total of 15 rare partnership collab NFTs) and 5 OG rare NFTs (this will bring the total rare amount to 20).
As the price of SQUAD increases or decreases, the total amount is yet to be determined via boosted rewards. In the following example, we will break down the boosted staking rewards if we managed to secure 3,000 SQUAD from buybacks and 2,000 emitted from reserves.
Daily Staking Rewards Plan
Using 5,000 $SQUAD tokens (3k boosted & 2k reserves) as example
Normal NFTs (80 NFTs)
~2,996 SQUAD allocated for 30 days
~1.25 SQUAD daily per NFT
Rare NFTs (20 NFTs)
2004 SQUAD allocated for 30 days
3.34 SQUAD daily per Rare NFT
Please note that the Normal NFTs do not round cleanly for the math to be exactly 5,000 $SQUAD. This should be fine since NFT rewards wallet still plans on maintaining a higher value to keep supporting V1 and V2 staking.
Yes, V1 and V2 will still emit $SQUAD overtime to help distribute tokens to DeFi users using Algorand for various use cases. Right now, V1 NFTs drop daily 0.2 and 0.3 $SQUAD depending on rarity. After the 30 days of boosted rewards, V2 NFTs will follow the same model as V1 and earn passive rewards alongside V1. The more generations/NFTs you hold, the more rewards you net passively overtime.
This provides more incentives and opportunity for returning NFT holders and new holders to earn rewards and show thanks for supporting the NFT project at one given point.
After reviewing performance of V1 and some flaws with how the token staking began, noticeably late holders only obtaining a little bit of the boosted rewards due to entering late into the boosted rewards cycle. This time around, after 80% of NFTs are sold, users can earn boosted rewards.
This means before 80% sales are reached, holders can interact with the dApp and enter their NFTs for staking. It is being planned so they earn the passive non boosted rewards of 0.2 and 0.3 $SQUAD a day. Once sales reach/surpass 80%, all NFTs will start earning the boosted rewards for 30 days before the non boosted rewards of 0.2 and 0.3 $SQUAD a day are introduced again.
Some noticeable use cases for $SQUAD right now are farming/staking incentives hosted on COMETA from time to time and also Flipping Algos Marketplace for NFT raffles.
Thank You
Hello! If you made it this far, congratulations and thank you for your time on reading through it all! I hope this report made it easier to understand the vision I have for V2. Feel free to ask me any questions on X and I will try to answer them to the best of my ability.
As noted above, all initial sales after marketplace fees will be used to help promote growth within the ecosystem. A significant portion will be allocated to stable TVL and rewarding V1 holders to help create sustainability and also build community loyalty.
With the addition of partnerships NFTs and how their sales will be used in this batch, this ensures OG Squad is continuing to foster ecosystem growth and collaboration with other projects on Algorand for mutual benefit of both parties in mind.
As OG Squad continues to grow and build, it is my pleasure to tease the announcement that I am working on a draft that allows OG Squad to become a DAO of some sorts. This allows the community to help govern and take initiatives on how to distribute NFT sales, and also shape OG Squad that better aligns with the community vision in the near future.
OG Governance Teaser
Behind the scenes, here is something I will give you a sneak peek into that I have been drafting and researching carefully to the best of my abilities, the multi-stage DAO voting system that is being planned on before dApp work goes in! A more in-depth article will be produced going forward in a future official announcement.
A multi-stage DAO voting system is being designed to help create and foster community engagement going forward in the near future. The DAO is being designed to not only empower the community in enhanced decision makings, it also helps promote sustainable growth and use cases for the squad token and the DAO token.
The DAO being multi-stage might bring some added complexities and challenges, but it is being built in mind to create a vibrant, engaging and equitable community along each stage with checks and balances. The best part, it will have some real social use cases for our discord server and can help create activity within the community socials, all while being easy to navigate and participate.
That is the plan for the DAO at the very least. Multi-stage, social and hassle-free to promote an easy entry barrier. Once the DAO goes live, it will be interesting to see the effects take place in the short term and long term. Plans for a fair DAO token distribution are being looked into. We want to reward all users that actively participate in OG Squad before the DAO token launch.
This includes staking SQUAD and SQUAD/STABLES LP for DAO Token at a 30/70% total supply split over the course of 4 years. Alongside potentially airdropping DAO Tokens to active NFT holders. This does raise some questions such as unique wallets only or 1 DAO Token per NFT. All these questions and model designs will be talked about in a future official announcement paper regarding the DAO and the way I will design it at launch. I am curious to see how well the DAO works out and also how the DAO users will shape up the DAO and OG Squad in the near future.
Where the SQUAD at?
Hello everyone this is Midnight, welcome to our first blog post where I will dive into what wallets I hold and the project wallets, so everyone can see where the SQUAD are at and currently allocated alongside plans for wallet addresses to create trust in this small and growing community. Let’s dive in.
@MidnightSoul is the creator of OG Squad and here are my Algorand wallets
Personal
KOZ4Q3P62EAEUIGRT6FOFBPRGJM5TO4HWXYBOMTFWFDJI4DMRWX33P574I
I will try to buy and allocate roughly 5% of all SQUAD for personal use and also to help create boosted rewards as seen from the daily NFT SQUAD drops or other incentives for the community to enjoy. As the price increases, understandably, I will hold less and less. Not financial advice.
My personal NFT wallet and liquidity test for SQUAD
ZNJVUZOCLEWNVZVWZLSVV6ZPWTCGADM7IW3P6DRJG2CIANK4Q43QHZYHAA
Another project wallet I control
OOQSPSZBNKXTNVGCXNYCI7JA422P4VQAEEUHDLFJXUVIRSYZ4TJDQGMU3Q
This wallet was created with the intention to keep log of a future project with no ETA if I do launch it, unrelated to OG Squad. Basically a small handmade leather goods shop that accepts Algorand and ASA payments with future collab partners to drive adoption, liquidity, exposure and utilize Algorand technology.
These three wallets are my Algorand wallets I deem for myself and/or use exclusively.
Let’s move on to the Projects active wallets. These include the creator wallet, NFT staking rewards, and more.
OG Squad token Creator wallet
TFGX76GYHHNAUJOGBCNPK7ZC5VMXHFDUTGQYSNHUHEEIB7JQZRPZ6BTISQ
Community rewards wallet
64X5KF64GMQKOO7WPMMBE72E4K5ITLILMR4XBD4J6GMPXCBWZVXQGOECLE
This wallet was created when I first tried out Cometa. I was hesitant to link the creator wallet until I learned more about the program. Instead of getting rid of this wallet, I decided to “rebrand” it as a community rewards wallet. Users could send SQUAD to help out with boosted rewards, at least that is the plan?
The NFT mint wallet
VBHRAVPDKK6GH2272O3U4PLT335I4JD4S5OSTIO7UQTXWFDMNJQBOVRXHM
NFT daily rewards wallet
OGSDVI6SDRSZWY6QPQ2CS2XTFDX3GJYOHROFFPCWDGZ7OACCSPV74QRU5I
This wallet holds balances to send out staking rewards when you connect to our website.
Our first Cometa staking program
5J5B7ML4J7G5QGJ36YVGZWK6346DZMGNT4B2YVAS4ESD4EXDF54KXWX3GQ
This wallet we don’t have access to it, but it is an escrow account for our first Cometa staking program that Cometa creates automatically to ensure funds are safe. Stake SQUAD, earn ALGO and SQUAD. Launched before the NFT drop.
We trust Cometa after more reviewing and plan to do more rewards over there, so keep an eye out as we reach out and collab with more projects, but as always, do your own research.
Our second Cometa staking program
LS4BBFRGD3WS4MQHITKPPPSTEEV3WDCAG37PYRIUN7XDFNIRRZXEQUVHVY
Stake SQUAD, earn REA. Feel free to look at either account to get an idea where all the tokens are locked in for the rewards. “Locked” currently means these are tokens that are sent to the escrow accounts to collect staking rewards. Users are able to withdraw at any given time, which makes Cometa a great choice.
Cometa features a wide range of tools and fail safes, alongside being a platform that anyone can sign up and create farms/staking rewards. It makes it an ideal and favorable site for anyone to contribute and use. If you haven’t yet, feel free to check it out to use or learn more about it. This segment is not sponsored.
That is it! I did my best in my ability to be as open and transparent regarding the wallets I personally own and the project wallets. I’m excited to be a creator in Algorand and want to foster a community built organically, something I believe requires trust. To build on this idea, I tried to create a few project wallets to ensure there is some level of fail-safe in place in the event something goes wrong.
Thank you for taking your time to read the blog. I’ll be happy to answer any questions on X to the best of my abilities. More features and planned events are in the works for the near future, but I just wanted to write this blog after receiving questions in the dms, so I diverted time to look over and make sure I can verify all this information is written out to the best of my ability and present it to everyone first as this is more important. Trust is a virtue. Happy Sunday! - Midnight