The Snowcat DAO team will be donating part of its proceeds from running the DAO to charitable causes!
Greetings! Thank you for your interest in Snowcat DAO. Snowcat uses the standard DAO mechanics of staking and bonding but is configured to play out entirely in approximately 9 days:
- The normal treasury withdrawal function is disabled. The creators have no direct access to treasury funds
- Staking rewards are given for the first 8 days
- Bonding/minting is available for the first 5 days, building the treasury (3-day vesting)
- At the end of the first 8 days, the amounts in all treasury bonds besides SCAT-DAI LP are calculated
- 80% is liquidated and used for SCAT buybacks & burns on the untouched SCAT-DAI LP within the next 24 hours
- 20% is sent to the contract operators as an administration fee
- If any of the 80% buyback funds remain unspent after day 9, anyone can call a function that conducts a buyback & burn using all remaining buyback funds
- SCAT then becomes the meme token of the Avalanche ecosystem
- After the first 8 days, no new supply can be minted
- However, stakers will still receive rewards via proportional redistribution of the 8% transaction tax on selling
- The protocol will still own SCAT tokens, which could be traded for outside staking pools or other benefits
If you've seen MiniPanther, Snowcat DAO is similar, but be sure to check out our new features added for Snowcat, like Referral code and Anti-Bot!
The macroeconomic markets and blue chip crypto markets will do what they will do. Sometimes they go up, and sometimes they go down. Fortunes are made and lost by betting on these swings, but macroeconomic outcomes and their effects on crypto markets are not easy to predict. Nevertheless, many individual projects within crypto have been able to structure incentives around themselves and do well even in a bearish market state.
One reason why you may be here is because you'd like to have this nice refuge from macroeconomic trends. Fortunately, short-term financial games can be structured independently of macro trends, and it is possible to structure short-term incentives so that they still play out according to the rules of human psychology and game theory. As we have seen recently with SnowDogDAO and the Vamp Wars, short-term reward structuring can take precedence over macro market trends in people's minds. And that type of structuring is what we offer with Snowcat DAO.
But the above description might not account for another important reason why you are here. If you are here and interested in this product, you may also have well-thought-out strategies, but you also crave something more. Maybe it's that tingly, sinking feeling you get, almost like you're falling, when you get to swap for an insanely large amount of coins. Maybe it's the feeling of the piss in your pants as you quiver with excitement. That type of exhilaration that results from your extreme greed is what attracts you to Snowcat DAO. In fact, you may be masturbating right now. Don't worry about that. It's fine.
Just picture 80% of the treasury going into a huge buyback after 8 days of staking. And picture yourself receiving the proceeds. This is what Snowcat DAO provides.
Snowcat DAO offers a self-contained financial game that plays out completely within a 9-day period. To our knowledge, the first fully auto-liquidating DAO in history was MiniPanther, the Snowcat team's previous short-term DAO. In lieu of repeating what is written in the other sections of these documents, we provide a list of special platform features and links for you to read about them:
The team will be offering free SCAT tokens to wallets that staked in Snowdog DAO!
We feel that restricting all supply growth to a short-term period and then executing massive buybacks creates an exciting and interesting playing field for investors! We will also be offering free tokens to wallets that staked in Snowdog DAO.
In Snowcat DAO, the promise of executing buybacks faithfully and transparently is ensured by the code. The administrators have no direct access to treasury funds and have no decision-making ability regarding which LP pair the buybacks are executed on. Therefore, the fairness of the game is programmed in.
We feel that the promise of an 8-day accumulation period followed by massive buybacks will excite a primal urge in people and encourage participation! But what happens after the buybacks, you ask? Well, thanks for asking. We have an answer for you.
After the supply expansion and buybacks are complete, SCAT will become the meme token of the Avalanche Network. The protocol has several features that are expected to help with this transition:
- The transaction tax on SCAT selling is redistributed to stakers at rebase time. This means that there will still be SCAT staking rewards even after all supply expansion stops.
- Because the treasury withdraw function is disabled, The SCAT-DAI LP provided by the team and acquired by bonding will be forever locked in the bond depository contract.
- The DAO will still own SCAT tokens after minting stops, which can be traded for outside staking pools or used in other ways to benefit the ecosystem
- The Snowcat branding and its relationship to cat-related charitable work could have enduring appeal
Thank you for joining us for this fun, exciting experiment in game theory and human psychology!
Kurt, Wojak, Kyoko, Chad, Gandalf, Jaegar, and the rest of the MiniPanther team