Introducing Governor NFTs
For those patiently awaiting the drop of our NFTs… the wait is over. Starting 3/31 8:00pm UTC (1pm Pacific), the LOYAL-NFT swap will go live on the Loyal staking app.
Without Further Ado: Governor NFTs
Each NFT is animated, click through to the Rarible link to see them in action.
Staffer (1,000 LOYAL | 200 supply)
Representative (2,000 LOYAL | 100 supply)
Council (4,000 LOYAL | 50 supply)
Governor (8,000 LOYAL | 25 supply)
These NFTs signify membership to the exclusive group of original Governor DAO supporters. With this membership comes exclusive perks and privileges that translate to long-term value as the project continues to grow and scale.
Each NFT adds a “boost” to an individual’s earnings in the Governor ecosystem:
- Staffer: +5%
- Representative: +10%
- Council: +15%
- Governor: +20%
These rewards stack (ie: holding Counil and Representative translates to +25% boost) but multiple editions of the same NFT does not multiply rewards.
Later this week, an article will go out explaining the Governor DAO business model and an aggressive referral program that grants individuals 25% commission on all revenue generated on referrals from deals and sales.
For example, registration to our tokenized Proof-of-Existence registry (after internal pilot in our community) will be sold on a bonding curve with on-chain referral/revenue split when an individual refers a new user to register. Details in the separate article will flesh this out more fully.
Auxiliary perks, like a private channel for NFT holders, will be released over time.
Swap or Buy
The catch-22, of course, is whether to buy NFTs or swap LOYAL back for GDAO. Important to note that, given the sum of unclaimed airdrops, there will be a total of ~78,000 GDAO swappable for LOYAL.
The ratio of GDAO/LOYAL will be established after the NFT sales take place. If more people purchase the NFTs, there is less LOYAL remaining and therefore a higher rate of GDAO per LOYAL.
In other words, higher volume of NFT purchases means LOYAL is worth more GDAO and therefore a higher cost to these NFTs. With less sales, LOYAL is worth less and purchases are cheaper. It will be interesting to see how participants react and establish the equilibrium rate between the NFT swap and GDAO redemption.