This originating information accuracy is in no way endorsed by Curious Cosmonaut Research. This paper’s content was aggregated from their website here on 1/13/2023 as part of a series to make content more accessible from one place in Cosmos as well as their blog below on updated tokenomics.

MintDAO is a cross-chain NFT Launchpad. NFTs can be bridges to different chains, including in Cosmos but also Binance Smart Chain, Polyon, Fantom, Moonbeam, and Avalanche.

They also plan to launch a MintDAO Avatars that to buy the NFTs it will burn their MINT token, and you can earn USDC yields by using rewards from the platform.

The New MintDAO Tokenomics

Date: July 16,2022

Dear MintDAO community!

As you know, we have announced a new tokenomics for our multichain NFT launchpad journey. When developing new tokenomics our plan was to ensure fairness for the new system and provide at the same time a solution that will have a positive impact on the token price.

Here are key points from the following article:

• Only users that provided their EVM wallet on terra.mintdao.io before 2022–09–15 15:00:00.000 UTC will receive an airdrop and will be able to claim their MintDAO Avatar.
• $MINT Tokens will be airdropped based on a snapshot taken pre-attack at the block no. 7544910 (14:59:37 on May 7, 2022 UTC)
• The new tokenomy will be fully deflationary with an initial Total Supply of only 5 mln tokens
• There will be no vesting in the new tokenomy
• All tokens from all distribution buckets will be transferred to a new chain with the same multiplier of 0.059
• $MINT will be used for boosting your MintDAO Avatar which will become the only source of Mint Power
• Stakers will receive MintDAO Avatars with initial Mint Power based on their power on the Terra blockchain

We invite you to read the fu article to see the motivation behind such decisions.

Airdrop eligibility — ACTION REQUIRED

An airdrop of $MINT tokens and MintDAO Avatars will be based on the snapshot taken pre-attack at the block no. 7544910 (14:59:37 on May 7, 2022 UTC) in connection with the EVM wallet you have to provide on terra.mintdao.io before 2022–09–15 15:00:00.000 UTC

This is the only way we can connect the terra blockchain users with EVM based wallets in a secure manner.

Fight the token inflation!

Our first aim of the new tokenomy model is to get rid of the inflation. Having inflationary tokenomics was the main cause our token price has decreased over time. To remove the inflation we have decided that we will unlock all tokens at once — without vesting schedules. We are also introducing a new total supply of 5 mln tokens to have a higher initial price. From 150 mln tokens we are scaling down to only 5 mln in total! During the migration all token holders will be treated equally — each $MINT token on terra will be exchanged for 0.059 $MINT on the new blockchain. This will be applied to all tokens, including these locked in vestings on IDO platforms.

Some might ask — “where does this multiplier come from?”, let us explain.

From the previous buckets we are burning all tokens left in the DAO treasury and in the Community & Minting incentives which is equal to 66,15 mln tokens. To calculate the multiplier we take the new total supply which is 5 mln tokens and divide it by the remaining (not burned) 83.85 mln total supply from the previous tokenomy. The result is 0.05963029219 which is the multiplier used for all tokens during the migration.

New Tokenomy — 5 000 000 $MINT

The new tokenomy will be divided into 7 buckets :

• Development Fund — 16,8%
• Private Sale — 14,1 %
• IDO Public Sale + Early Birds — 13,1%

a) Starterra Launchpad
b) Atlo Launchpad
c) Thorstarter Launchpad

• Marketing/Partnership — 9,3%
• Advisors — 4,5%
• Liquidity — 14,8%
• Terra Circulating Supply — 27,4%

a) MINT stakers pending reward
b) LP stakers pending reward
c) MINT tokens on wallets
d) LP tokens on wallets
e) MINT tokens on unbonding
f) LP tokens on unbonding

All tokens from all distribution buckets will be transferred to a new chain with the same multiplier of 0.059. All buckets will have 100% TGE and no vesting. Here you can check how many new MINT tokens you get — https://app.mintdao.io/

Burn2Earn Model — New $MINT token utility

Another major change is the $MINT token utility and its impact on the tokenomics & token price. Instead of staking your $MINT tokens to receive Mint Power you will be able to burn them within your MintDAO Avatar NFT in exchange for Mint Power. The amount of Mint Power received from burning will be dependent on the total supply of $MINT tokens at the moment of burning.

This way we are not only removing the $MINT token inflation but we also focus on the reduction of total supply over time and therefore introduce a deflationary tokenomics.

There will be 5mln Mint Power to get in total, which means that on average for 1 Mint burned in avatar you will receive 1 Mint Power. Last burned Mint token will give 10 times more Mint Power then the first one burned. This way, as price will go up with time, new investors could get more Mint Power per Mint.

Introduction to the MintDAO Avatars NFT Collection

Long awaited MintDAO Avatars will be introduced on our multichain NFT Launchpad. These avatars will be limited in number — only 3333 of them will exist and they will be the core of our community. Each avatar will have its own Mint Power and it will be the only source of Mint Power in the ecosystem. To participate in the rewards from MintDAO you will need to have at least one. Each MintDAO Avatar will be represented by a unique piece of art. To increase Mint Power in your avatar over time you will need to use $MINT tokens.

All MintDAO Chest owners will receive the ability to claim MintDAO Avatars.

MintDAO Stakers on Terra blockchain

Top 1000 MintDAO stakers will receive a MintDAO Avatar NFT with Mint Power based on the amount of $MINT staked on terra blockchain at the moment of the snapshot.

The rest will receive $MINT tokens based on how much they staked.

IDO

All people who participated in the IDO on Starterra, Atlo, Thorstarter and Early Birds will receive new MintDAO tokens with the mentioned conversion rate and without vesting. (Snapshot date 14:59:37 on May 7, 2022 UTC)

Unbonding tokens

All people who ordered a MINT token withdrawal and were waiting for the unbonding to finish will receive new MINT tokens with the mentioned conversion rate. (Snapshot date 14:59:37 on May 7, 2022 UTC)

Here you can check how many new MINT tokens you get — https://app.mintdao.io/

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