dGenesis - The Way Forward
2021-09-25
One of the truly beautiful things about decentralization, focused teams, and cutting-edge technologies is the ability to innovate at a tremendously rapid pace. A challenge this introduces is the ability to communicate day to day work and how it affects longer term goals; or even what those longer term goals are. So today we want to take a minute and set the stage for where we are and what is next.
But… before we dive into that, we would like to thank all of those who have shown support thus far. Minting a new and unknown project is always a leap of faith; and we are truly grateful for all of those that did. Whether you are here for the art, or what is in store for the future, we are proud to have you as part of the dGenesis team.
ETHOS
While we will lay out some well-defined near, mid, and long-term plans, those are always subject to change. So, before we get to those, let's first talk about the dGenesis ethos. Deadlines may shift, an implementation may vary, but you can always expect our actions to align with the following principles:
- dGenesis decentralization is paramount - Everything we do will leverage the decentralized tools that blockchain technologies offer to the maximum practicable extent. Decentralized, trustless, and permissionless are not buzzwords - these are principles which will power the NFT movement and the dGenesis platform. However, we also recognize that guidance must be offered in the early stages of a project to achieve this vision. We have a team in place that is providing the necessary guidance and technological capability until dGenesis can run free on its own as community owned, operated, and governed.
- dGenesis is a platform - dGenesis is a platform for artists and collectors alike. A place where artists will release their art because it aligns with their values and goals and a place where buyers look to find art also because it aligns with their values and goals. dGenesis facilitates this relationship in a way that seeks to maximize the benefit to all parties involved.
- dGenesis will shift the creator/dealer/developer paradigm - The days of middlemen extracting value from transactions and platforms are over. They are being replaced by lines of code that are more efficient, more equitable, and more fun. Value belongs to the creator and their audience.
NEXT STEPS
dGenesis will release the dGenesis Vault Token($DGV) on the Arbitrum network immediately following the publishing of this article. Arbitrum offers many benefits to the dGenesis ecosystem to include low gas fees and a well-defined secure pathway for moving assets from L1 to L2 and vice versa. Establishing a foothold on Arbitrum will allow us to do things that are simply too expensive on L1 while still allowing the NFT contracts to remain on L1, which we believe is critically important.
dGenesis will award $DGV to holders of dGenesis Automatons at a 1:1 rate (4000 total) after a snapshot is taken on October 9th at approximately 1200 UTC through a merkle drop. Additionally, dGenesis will mint 4000 $DGV for governance purposes and send it to the dGenesis.eth wallet.
dGenesis will deploy a staking contract on Arbitrum(dGenesis Vault). The first utility of the $DGV token will be to receive funds distributed from secondary market sales. The dGenesis Vault will continue to be used to distribute funds to $DGV holders as agreed upon through contracts with artists.
Secondary market fees will be raised to 7.5%. 100% of those fees will be redirected to the staking contract on a regular basis to benefit $DGV holders.
Following staking contract deployment, dGenesis will deploy a dGenesis ERC-721 platform contract on Ethereum. This contract will be used for all future dGenesis platform releases.
dGenesis will launch the first release on the dGenesis platform contract. Presale will be available to $DGV holders on arbitrum by burning DGV at a 1:1 rate and paying the mint fee. Terms of this sale will be 50% to the artists and 50% to the dGenesis Vault. Minters will be awarded .75 $DGV upon mint on L2.
Following our second collection, dGenesis will open the platform to external artists. Artist deals will be voted on by $DGV holders.
That is a lot on our plate, so we will leave you here. Thanks again for everything and we are excited to begin this journey with you all.
Damn the torpedoes, Full speed ahead!