1) How did the project get started? Give us your timeline with commentary.
The basic concept of Degen’$ Farm was born around late January. First versions of the docs and UX draft were delivered in early March. I’ve been following redphone and learning a lot from him, and he was the first one I shared the concept with. He said ‘it’s cool’ and told me to ‘forge ahead’. His single response boosted the project and we focused on delivering it as fast as possible. It evolved through time: in the beginning we hаd only about 1000 NFTs in total, while now there are 2420. We decided to double the amount of creatures because we wanted to connect with a wider range of DeFi protocols. We believe this supply is also rather healthy for community building. The team became bigger and during April and May it was all hard dev, testing, planning and networking. We had several proposals from IDO launchpads, but we decided to go on our own and that the $BAGZ distribution will be completely fair and open for everyone. Meanwhile, we are about to airdrop some $DUNG to active Opensea users. In around one week, reveal the aspect farming, and the main stage of the game will be in full active mode. No one knows how long it will last – it’s all game theory. But we expect a real farming battle for the most unique creatures on Ethereum blockchain. The game itself is an act of creation and is open for everyone to participate. It’s the first experiment in dynamic NFT distribution tightly connected with DeFi culture. Degen’$ Farm is a modern fairytale about DeFi and the rise of decentralization.
2) Tell us how your team got together and a bit about yourselves. If you are flying totally solo, tell us your back story. If you need to use a pseudonym that’s fine.
We are now a team of 6 people and it’s our very first anon project. It feels good to be anon, it gives you more playground. But talking about our experience, the core team has been working together in the field of music and art for 10+ years and our devs have been building on solidity since 2017 while working in the mobile gaming industry for 7+ years. Our next stop is the launch of DADAO.
3) Any plans/Do you have your own token? If so, please run over the tokenomics.
We have two tokens in our ecosystem. The first one is $BAGZ and it’s basically the entry point to the Degen’$ Farm. During the initial distribution 4500 $BAGZ (ERC20) are going to be offered for 0,1 ETH per 1 $BAGZ that allows you to reveal one 1 NFT collectible. Inside there’s either a unique normie creature NFT (ERC721) or land (ERC721), and these are randomly distributed during the actual reveal process. The second is $DUNG (Please find the link to the Yellow Paper at the bottom of the page) and it’s used to obtain farming tools ,each tool gets you closer to your degen. While there’s an initial supply of one sextillion (sounds sexy), it will be distributed in a non-commercial manner as rewards and an airdrop, while 1% goes to our advisors. Our creatures are the only entities that emit $DUNG and the amount depends on the level of the creature. I believe $DUNG is an unstoppable financial vehicle and detailed DUNGONOMIC$ can be found here.
4) The future of your project, are there any exciting new developments even at the idea stage that you can share?
Our farm is the place where the magic happens. You are witnessing the first season and the next thing is cross-NFT farming. Imagine you are a happy owner of a cryptopunk that smokes. If you also have our chad cow – you are able to ‘fren’ it with your cryptopunk and get a smoking chad cow. Of course you don’t want your creature to pick up bad habits. But it’s a free, decentralized world and you decide who your chad is freakin’ with.
5) Give us some of your NFT and Crypto inspirations/ other projects/ artists that you follow.
My very first NFT was actually a Decentraland Land package. I still own several and won’t sell them in the near future. The project inspires me a lot and I believe it’s just the beginning. I also really dig Async art, Async music. It’s where innovation happens. Hashmasks also innovated the space, while Cryptopunks are OGs. Autoglyphs are one of my favorites too. These are all already classics.
6) Anything else you think pertinent that your public will want to read about in relation to the subject.
Written by : Chichi, Degen’$ Farm CEO, prepared for publication by Benny Steele