Ringfenced to be supplied to liquidity pools when available on Cardano. At present, 40% of the total supply has already been supplied to SundaeSwap to establish an initial $RAG/ADA liquidity pool. A further 10% of total supply was supplied to Minswap in May 2022.
Set aside in a 2-year vesting schedule to support our innovative NFT Staking platform with gradually declining reward multipliers.
Kept in project wallet for now, to be transferred to a multi-sig wallet after LP fully established and successful establishment of DAO.
*Please note that apart from total supply, other values are subject to change as the project evolves.
Purpose of 15% liquidity (15 million RAG) in dev wallet
Fortnightly airdrops to Plush Toy NFT holders
Amount to be airdropped will be proportional to the number of CryptoRaggies minted by time of snapshot. Each airdrop will be capped at 100 $RAG per unique wallet address holding a Plush Toy NFT. Cap will be increased to 200 $RAG per unique wallet address holding a Hydra or Ape Plush Toy NFT. The actual amount airdropped will be in proportion to the percentage of CryptoRaggies minted. So if 1000 CryptoRaggies have been minted, this will unlock 10% of the airdrop cap and regular Plush Toy NFT holders will receive 10 $RAG, while Hydra and Ape holders will receive 20 $RAG.
This mechanism will lead to a maximum drop of 24,000 $RAG every 2 weeks. If the liquidity in the dev wallet were to be used solely for airdrops to Plush Toy NFT holders, this will sustain a minimum of 24 years.
Support for in-game rewards
Players of our casual games earn in-game points which can be used to redeem RaggieCoins. This will be done on our website by accessing our wallet-enabled Member Zone.
We estimate this will be a significant expenditure for the dev wallet, outsizing the amount spent on airdrops to Plush Toy NFT holders as this involves every CryptoRaggies NFT holder who plays our casual games.
We will set an initial EXP/RAG exchange rate and keep this under close and regular review to ensure fairness and sustainability.
Ad-hoc community giveaways and contests
We will run giveaway events and contests to raise awareness of RaggieCoin and our ecosystem. This will be a minor part of the total expenditure.
We will also use $RAG to build links with other projects to further expand use cases and build awareness.
There will be numerous mechanisms by which $RAG is recycled into the development wallets. This includes RaggieStore purchases and Raggie Rehoming.
$RAG that is recycled back into development wallets can be re-supplied into faucet wallets to bolster supply in our P2E systems and future staking rewards beyond the initial 2-year vesting schedule.
Combining the above, it is projected that the liquidity within the dev wallet will cover running expenses for the next 5 years at the minimum, with an aim at a self-sustaining circular economy focused on value-creation through utility.
RaggieCoins will be used in every aspect of our project-ecosystem.
At the very first stage, RaggieCoins will be implemented in our RaggieStore to purchase in-game upgrades for Raggies and special edition Raggie collectibles. These purchases will also require a small amount of ADA to cover dust fees and NFT minting costs. Users are now also able to "rehome" a Raggie using RaggieCoins.
In the future, RaggieCoins can also be used to unlock different game modes to enhance the game rewards, for example, challenging against one’s own high score by paying some RaggieCoins upfront which will be lost if one does not beat the high score, but result in greater rewards if one does.
We are also actively pursuing a “bet” system for the community to place bets on the top scoring Raggie.
When our breeding system is implemented, RaggieCoins will be required to apply for a breeder’s licence, and every breeding transaction thereafter will require RaggieCoins. It shall be noted at this point, that applying for a breeder's licence will require a large amount of RaggieCoins (by today's standards at least) and holding multiple (at least FIVE) Raggies.
In the final phase of the evolution of our project, many of our game, breeding and payout parameters will be decided by community through our DAO. RaggieCoins, at that point, will also function as a governance token to decide an individual’s voting power.