Introduction to Catgame
What is Catgame?
Catgame is the starter game of CatDAO, where you will acquire CatDAO's governing token, $CHEESE, by pledging the NFTs we offer, and enjoy the benefits and surprises of the carefully designed game mechanics during the process.
All the $ETH earned from selling NFTs will be directly locked in the CatDAO Treasury (See CatDAO Treasury) through the smart contract and provide a stable $CHEESE-$ETH exchange through CheeSwap, which will open in the later stage of the game. In other words, CatDAO will maintain a constant price for the tokens you get, so don't worry about the devaluation of $CHEESE until the secondary market opens.
How exactly does Catgame work？
Catgame is an interactive protocol based on optimistic rollup's NFTs and tokens. You will be able to buy NFTs with $ETH and subsequently pledge them to produce $CHEESE.
All $ETH collected from selling NFTs will be deposited in CatDAO Treasury and you will be able to sell your $CHEESE at a constant price at any time during the game to gain profits.
NFT&Token
For the NFT and token interaction mechanism, we will use a wolf.game-like mechanism. You will have a chance to mint two types of NFTs:
Mouse: Pledge to produce $CHEESE
Cat: Pledge to steal the $CHEESE from the mouse or steal the newborn NFT (cat and mouse) directly
If you are not familiar with the wolf.game-like mechanism or you want to learn more about the details, please move on to NFT Pledging Earnings
NFT Staking Earnings ModelNote: We will be offering NFTs of "Cat" and "Mouse" at phase0. NFT holders will be considered as core members of CatDAO and will be involved in more subsequent projects and decision making.
Beyond the mechanism, it's all about our innovation:
Our innovation?
We will emphasize this part.
In the accustomed mechanism of all previous tokens or NFTs, it is predetermined that users who entered the project late would receive minimal expected returns. As every participants are expected to be our DAO member, we don't want that. We want you to be able to profit by making the right decisions at all times.
Smart Mint + Staking: Pledged late? You still have maximum gain!
Smart-MintIn our mechanism design, whitelisted users' earnings will be guaranteed by the algorithm, but missing the earliest entry does not mean you will suffer losses.
In traditional projects, the latecomers will pay a significant profit for the earlier, so that for most people it will be a mere race of time, and whoever gets the news first will have the possibility to make a huge profit, which is very unfair for the later. (It is clear that many people are joining the game at the same time, but due to the sequence, their profit situation will incur a huge difference.)
But in Catgame, we add a prediction mechanism for Mint progress, and there will be a mechanism to reward later comers. We link everyone's profit to the outcome of the game on Mint progress. So, it is still possible for the latecomers to make a profit before the outcome of the game is known.
If you missed the opportunity to become an early pledger, you will have the opportunity to maximize your return by making the right prediction of our Mint progress.
We will send airdrops to addresses that minted NFTs after the Mint progress cutoffs. The Mint and Pledge cutoffs can be triggered by the occurrence of any of the following.
Airdrop
We will airdrop at least as many tokens as the total pledged output tokens, and in extreme cases, we will airdrop ten times as many tokens as the pledged output tokens.
If you need to see detailed airdrop and stake data, see:
Simply put, if you make the right decision, you have the chance to be the richest gainer in the house at any time in our games.
CheeSwap:
CheeSwap is a stable swap, users can swap $CHEESE that they gain from pledging NFTs at a constant exchange rate into $ETH. Meanwhile, we welcome users to buy $CHEESE in CheeSwap, but the purchase price of $CHEESE will be higher than the sell price of $CHEESE, as to protect the earnings of our NFT users (i.e. NFT users have the lowest cost of $CHEESE in the world).
Our NFT will be purchased by $ETH throughout. All $ETH from the sale of NFT, except for 20% which will go to the team, will enter CatDAO Treasury as a guarantee for CatDAO's subsequent development.
For detailed descriptions about CatDAO Treasury, see:
Later in Phase 1 we will go live with CheeSwap, which will offer $CHEESE-$ETH pairs with stable exchange rates.
$CHEESE, as our key governance token in the later stages, will never be issued in increments and has a constant limited amount. As the launching phase, we do not want its price to be influenced by the secondary market and cause drastic ups and downs. This will affect the positive development of the CatDAO community.
Thanks to CheeSwap, you will be able to take profit or purchase $CHEESE at any time to participate in our later CatDAO governance .
Cat DAO: Community Governance after Fair launch
CatDAO is an open and transparent DAO that is owned by all $CHEESE holders and is clean from the first day it was created.
For detailed information about CheeSwap, see:
Conclusion
We proposed the complete process of Initial Game Offering (IGO): Smart Mint + CheeSwap + CatDAO. In addition to the innovation in the Minting mechanism, we also creatively propose: CheeSwap, which guarantees that everyone who participates in the Mint process is protected by smart contracts from secondary market speculators. Finally, with Cat DAO, we guarantee that all processes are executed by smart contracts and 80% of the Mint sale will be injected into CatDAO Treasury, guaranteeing that every $CHEESE is backed by cash.
With IGO, a community is able to fair launch a token and membership through a GameFi for the first time. This purely on-chain fundraising approach will promise the community a "neutral fund" and first users and DAO members right after it launches.
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