Diamond Allocation
9% of the total token supply is being awarded to community members who earned Diamond Hand status in the SmarterCoin crypto game
As a community-governed project, NFTREASURE began with a group of passionate "Diamond Handed" community members from the SmarterCoin project and was started with funds from the deprecated SmarterCoin project treasury.
This Diamond Hand Community has elected via an on-chain vote to lock up this pre-mint allocation for 180 days from the first Treasure Key mint date.
After the initial lockup period, the tokens will be dripped (vested) to Diamond Keys and claimable within the Rewards Dashboard.
The TRESR allocation for diamond hands is based on their Dec 17th, 2021 snapshot value and their Diamond Tier. Each diamond wallet address will be divided by the total of all diamond wallet addresses so that it is expressed as a percentage (%).
- Dec 17th, 2021 snapshot value - This is the USD equivalent of your SMRTR-JLP + SMRTR tokens on Dec 17th. This is denoted by “X” below.
- Diamond Tier - This is the diamond tier as determined on smarterswap.xyz. This is denoted by “Z” below.
- Diamond Keys = wallets who met above criteria and mint their first Treasure Key in the Diamond - Zone 1 Mint
- Diamond Tiers will have 90 days from 1st Key Mint to claim their share of the Diamond Allocation
- Wallets that do not mint a Diamond Key within this 90-day window will have their TRESR allocation burned
TRESR Pre-Mint = X*Z / Total Of All Diamond Addresses (X*Z) * 100
Sample Wallet (actual numbers will be based on final wallet statistics):
[X] = Dec 17th USD Equivalent Value of SMRTR + SMRTR-JLP = $5,000 [Z] = Diamond Tier = 10 Total Of All 1st Key Addresses * (X*Z) = 10M
TRESR Pre-Mint = 50000/10M*100 = 0.5%
One variable to consider is that Diamond Treasure Keys will denote the Diamond Allocation claim within their metadata on the Marketplace.
This means that the pre-mint allocation can only be claimed after the 180-day lockup by the wallet currently holding the Diamond Treasure Key.
If a Diamond Treasure Key has a claim on 0.5% of the Diamond Pre-Mint Allocation that will be indicated in its metadata and would represent ~210,843.595 $TRESR once the Allocation begins to vest.
Should this Diamond Key be sold, auctioned, or transferred, the Diamond Allocation claim or 210,843.595 $TRESR will transfer with the Key.
This should (in theory, not financial advice) equate to Diamond Keys fetching a premium in the secondary marketplace and/or deter Diamond Key holders from dumping their keys onto the secondary market early.
The Diamond Alloction claim will utilize a solution called Hedgey Finance. Here's how it will work:
- Zone 1 mint goes live
- We create a list of all wallets who claimed during Zone 1 and the NFTs they minted (these are called "Diamond Keys")
- A TRESR allocation is assigned to each Zone 1 Treasure Key based on how much JLP proportionally to all Diamonds wallets they had on Dec 17, 2021
- 180 days after 1st Treasure Key mint date, we take a snapshot of wallets now holding Diamond Keys
- Any wallet holding a Diamond Key (or multiple Diamond keys) will be whitelisted for that Key's TRESR allocation
- Wallets with TRESR allocations for wallets that have NOT minted a Zone 1 Diamond Key within the first 90 days of gameplay WILL FORFEIT their Diamond TRESR allocation, and we will burn their proportional claim of TRESR (you must mint a Diamond Key within first 90 days to claim your TRESR allocation)
- We upload this list into Hedgey with TRESR claim amounts and Hedgey streams the release of TRESR to each wallet over the next 180 days We have 42,168,719 TRESR tokens allocated to the "Diamond TRESR Allocation" - the above plan means that if only 60% of Diamond Wallets mint a Treasure Key, that would mean that we will burn the TRESR allocation associated with the 40% of wallets that did not mint a Diamond Key by Day 180. This allows us to fairly distribute and vest the Diamond TRESR allocation using a reputable project and contract, reducing TRESR supply to help the ecosystem in the long term, while incentivizing Zone 1 Key holders to HODL their keys or at a minimum list them for higher than mint fee (since all Zone 1 Diamond Keys represent an allocation of TRESR in the future).
