$DOWN (Down Vault Token) is a first-of-its-kind tokenomics experiment, combining nested NFTs and fractional ownership with the core concept of a social token associated with a creator.
$DOWN is a fractional token representing ownership of an NFT "vault" containing assorted digital assets.
$DOWN is also an experimental social token, which is the first social token of its kind, but is essentially the same as any other creator/influencer/community token; with the exception of its provable link to supporting assets.
$DOWN is supply capped at 10,000,000 tokens; with 1,000,000 deposited to the underlying vault.
Hypothetically, assets added to the vault improve the value of the ERC-20; thereby increasing the value of the vault's assets.
Read that again.
The token is deployed via Fractional, and extended cross-chain via Chainport.
$DOWN will be highly utilitarian; with additional benefits and use-cases being explored regularly.
The $DAOwn ($DOWN DAO), custodians of an initial allocation of 15% of the token's supply, may use the DAO treasury to
acquire valuable assets to be added to the vault which underpins the value of $DOWN.
The nature of public blockchains also allows anyone to deposit any asset, at any time.
Hi, I'm Bruce👋
$DOWN is my brainchild; as well as being my "social token"; and potentially a new model for social token issuance; where the token is intrinsically liinked to a number of my artworks and some of my most valuable NFTs.
I've been in NFTs full-time since 2019; as an artist, a collector, a start-up founder, and much more, with my art exhibited in at least 4 physical exibitions as of April '22, included in several NFT project's and criticized by Jerry Saltz.
Aside from visual art, I also create music, write poetry, dabble in world-building in the Metaverse, and am a Pastafarian priest.
At the project's inception, my goal for the first year is to, as a community, add no less than .000.000 in value to the $DOWN Vault, in the form of tokens from multiple chains, yield bearing (and autocompunding) assets, and valuable NFTs to include a variety of projects in addition to my own art.
After the conclusion of the public token sale(s), hodl'ers will be able to stake $DOWN to begin accruing points that will be redeemable for exclusive NFT artworks.
Currently being developed on ETH Mainnet, there is a custom marketplace which will be token-gated and will allow selling and buying NFTs.
Token-holders will be entitled to early or exclusive access to various projects from the DappGoose Labs ecosystem as well as RL and virtual events.
HODL'ers of $DOWN, as well as those of [TBA] NFTs will occasionally be offered limited edition merchandise, with a time sensitive sale format and NFT linking.
$DOWN will fuel a competitive gaming ecosystem, utilizing existing protocols to build decentralized wager and tournament games.
When requesting consulting sessions, art commissions, or other paid services from @xbrucethegoose, enjoy a 15% discount when paying in $DOWN .
$DOWN hodl'ers with true strength in their diamond hands will have the chance to win monthly giveaways; as well as randomly distributed airdrops.
Additional utilities will continue to be added to $DOWN to further prove the superiority of a token with a decentralized manner of value accrual.
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