Project History
Charts like this can be problematic…
They’re the result of a token supply that outpaces its long-term demand.
This is usually due to a lack of utility beyond finding another buyer at a higher price that you can sell to.
High-APR emissions paired with a big launch price create an incentive to be the first one in, and the first one out.
Because when supply outpaces demand—price goes down—fast.
We know this intimately because the chart above is a project many in our community were heavily involved with, SmarterCoin.
NFTREASURE was born out of the adrenaline-soaked hysteria that took place in the 4th Quarter of 2021.
*The full history of how NFTreasure was born out of community proposals and feedback can be found in this NFTREASURE History video
In 2021, Bajillion % APRs and APYs paired with unsound tokenomics met degenerate FOMO investing habits.
This created a pump-and-dump cycle unlike anything the crypto space had ever seen before, or may ever see again.
SmarterCoin, dubbed the “Squid Game of Crypto”, was an experiment in high-APR economics and what happens when APR increases by 1% every minute.
Many of us in the community joined SmarterCoin as complete crypto degenerates.
After a roller coaster experience, we came out the other side a little more knowledgeable about how crypto economics actually work.
As a community, yes, we survived the high-APY bubble—but only just!
While still licking our wounds, we were looking for a better way to create sustainable rewards.
We wanted to honor those who had cut their teeth in defi during the SmarterCoin experiment.
Our new project had to be something entirely new and completely separate.
It was important that it was community-governed.
We wanted to reward true project contributors and supporters.
A problem we saw was that crypto often incentivizes the most cynical zero-sum players.
So we continued to educate ourselves as a community, consult with the top minds in the space, and build in the direction of sustainability.
Charts like the one above can actually work to a community’s favor if the tokenomics are adjusted properly.
Defi tokens in price freefall are usually the result of infinitely high supply caps.
When a high-APR token supply hits its cap, though, and is paired with growing token demand...
That’s a recipe for what can only be called: a U-Shaped Recovery
Will every project that implements a supply cap and new utility hit this coveted U-Shape?
Absolutely not.
But that’s the carrot we’re reaching for.
A perfect balance of supply/demand equilibrium.
NFTREASURE’s tokenomics have been designed to weed out short-term thinkers while offering sustainable growth, long-term.
That means while $TRESR is in its inflationary phase, it's likely price will fall.
This is what high-APR tokens do.
But when $TRESR hits its token supply cap, then all bets are off.
Our goal is to build massive utility and volume by the time that cap is reached.
Our hard-fought thesis is that there are three things a crypto project must have to be successful long-term and keep its community happy:
- A token supply that is kept in check, often bootstrapped through GameFi incentives which produce more token demand than supply
- A product and/or service that people would pay to use even if they weren’t earning rewards in the ecosystem
- A decentralized distribution system that allows the most engaged community members to capture the value the project creates
NFTREASURE has a bit of a reverse mullet situation happening:
We're degen in the front, but all business in the back.
That’s by design.
