DOPEX DIAMOND PEPE NFTS: INTRODUCTION
To my lovely readers,
My name is Nutoro and I am the CEO of Diamond Pepes Pty Ltd. You are reading this because you want to learn more about Diamond Pepes and perhaps get involved. Allow me, the esteemed CEO, to take you on a short journey through some of our excellent offerings. Diamond Pepe NFTs are a spin-off NFT project of Dopex.io, our research facility that has been cracking out novel NFT mechanisms that aim to provide utility and value for the community.
Gen 1 Diamond Pepes
The story of Gen 1 Diamond Pepes began on the 20th of February 2022 when the Dopex team announced the mint of 2,222 Diamond Pepe NFTs. This mint was unique in the fact that rather than paying a mint price in ETH, minters just needed to deposit LP tokens into a contract for 2 weeks and would receive their NFTs. After the 2 weeks, the LP tokens were returned to minters resulting in a so-called “free mint”.
The NFTs themselves were minted on the 22nd of February 2022 and featured a multitude of unique designs. Variations included faces, clothing, and backgrounds. Lucky participants could also earn rarer traits such as golden skins and legendary features. Featured below are some of these features – an absolute sight to behold!
The big brains at Dopex’s secret research facility sat down and managed to come up with some interesting utility for this collection:
All NFTs can be locked + pledged to burn to vote post-launch (soon)Vote is to trigger new collection mints33% of supply needs to be pledged to trigger new collectionEvery NFT pledged gives a free slot in the next collection with a 12.5% increase in chance to get a rare traitUp to 4 NFTs can be pledged for one NFT in the next mint to receive a collective rare trait chance boost up to 50%
The idea was that this will make all floors have an intrinsic value (in the form of rare trait boosts) by introducing a game theoretical approach to weed out floors and only leave behind the NFTs that were valuable.
Pledge for the Legendaries
With all things Dopex-related, you’d best believe the fun did not stop at the mint.
On the 2nd of March 2022, the team announced the Diamond Pepes Pledging Event. This allowed Diamond Pepe holders to pledge their Gen 1s to go into the running for a 1/1 Legendary. All pledged Pepes were collected into a pool and a random number generator was used to pull 11 winners.
This introduced a smidgen of game theory - the more people that pledged, the less chance any single pledged Pepe had of winning. This meant that a lot of people scooped up the less aesthetic Pepes to send to the pledge contract. In total, 603 were pledged for Legendaries leaving 1,630 (2,222 - 603 + 11) Gen 1s on the market. Showcased below is some of the astonishing artwork of these incredibly rare Legendaries!
It was around this time that the official Diamond Pepes Pty Ltd Twitter account was created and I, Nutoro, esteemed CEO, was brought on to take charge of Company growth. The first order of affairs was to release the First Diamond Pepes Company Report which detailed a brand new product - Gen 2 Diamond Pepes!*
The cap of 2,222 (now 1,619) Gen 1 Pepes conferred a degree of scarcity, something that is desirable for any rational collector. With that said, why introduce an additional 1,111 NFTs to the market? Allow the CEO to explain.
Triggering the Gen 2 mint required Gen 1 holders to pledge 33% of the current outstanding Gen 1 Pepes, amounting to 537 (1,630 x 0.33) tokens. With decreased supply, simple economics means that price goes up - this makes Gen 1 holders happy.
In addition to this, holders that choose to pledge Gen 1s get a free mint Gen 2 (with boosted rarity traits) which will be priced at 0.88 ETH each. Pledgers will also share 15% of the revenue which equates to ~0.27 ([1,111 x 0.88 x 0.15]/537) ETH per pledge if the mint sells out - this makes Gen 1 pledgers happy.
Holders of Gen 1 Legendaries will share another 15% of mint revenue, which equates to ~13.33 ([1,111 x 0.88 x 0.15]/11) ETH - this makes Gen 1 Legendary holders very happy.
The Gen 2 pledge successfully concluded within 24 hours of its initiation, removing 537 Gen 1 Diamond Pepes from circulation. This means there are now only 1082 (1,619 - 537) standard Gen 1s and 11 Legendaries, equating to 1,093 total Gen 1s.
Gen 2s will bring something to the NFT space that has never been seen before - actual utility.
For those that enjoy engaging in a bout of fisticuffs, they are bound to love Gen 2 Diamond Pepes. Whilst still under development, the basic concept is simple - players will be able to wager tokens to battle it out with other Gen 2s in a winner takes all duel. This is sure to keep the community involved and will make for some exceptional spectacles! The remaining Gen 1s will receive 10% of duel rewards.
See below for some stunning images of Gen 2 Diamond Pepes.
The Road Forward
As you can see, Diamond Pepes Pty Ltd. is introducing a whole new era of utility and fun for NFT connoisseurs. Cute pictures, utility, game theory - what’s not to love? But as with all things Dopex-related, you’d best believe that the best is yet to come.
NFTs are an incredibly vast space. Unfortunately, the projects exist in isolation with very little cross-over. Gen 2 Diamond Pepe’s unique duel function changes that.
Enter: the NFT Universe
Not only will Gen 2 Pepes be able to fight amongst themselves, they will also be able to duel other projects. This is made possible through Gen 1 holders who will be able to vote in different projects to allow those NFTs to enter the battlefield.
Mithical vs. Diamond Pepes? We all know which little nugget I’m betting on.
But wait… there’s more
Having Gen 2s as the duelers of the Diamond Pepes Pty Ltd. ecosystem is good, but is it enough? You’d best believe that there is more to come.
The graphic designers of this fine institution have been toiling day and night to produce the Pepezuki collection, a unique derivative of the highly regarded Azukis. Of course, as a member of the Diamond Pepes ecosystem, the Pepezukis will automatically be able to duel and will not need to be voted in via Gen 1 governance. See below for a comparison between Pepezukis and Azukis (Pepezuki on the left).
The release date of Pepezuki is yet to be determined. However, the collection will total 10,000 units, with 2,222 airdropped to Gen 1 minters and 1,111 airdropped to Gen 2 minters. This leaves 6,667 available for public mint. 30% of the proceeds of this mint will be distributed to Gen 1 and Gen 2 holders - you’d best believe that the CEO rewards all his faithful Employees handsomely.
There is a lot of information to take in so the CEO will do his best to summarize the value propositions of the different collections:
Join the Community
One thing that cannot be stressed enough is the strength and… diversity of our community.
We have a dedicated section on the Dopex discord (click to join!) where you can chat with other holders (or soon-to-be holders) and share your thoughts on the project, engage in light banter, or just show off your newly acquired Diamond Pepes.
The Diamond Pepes Twitter is very active and we would highly recommend you giving it a follow if you would like to add a spot of entertainment to your dull day.
Beyond this, Diamond Pepes Pty Ltd. as a respectable company releases occasional Company Reports that go over Company updates and any recent achievements within our lovely community. Our first three reports can be found below:
- First Diamond Pepes Company Report
- Second Diamond Pepes Company Report
- Third Diamond Pepes Company Report
To those reading, your interest in this beautiful project is greatly appreciated. If you would like to find out more, I would highly recommend going to the Discord where we have an abundance of loyal Employees that would be happy to guide you in the right direction.
We look forward to having you on board.
CEO of Diamond Pepes
CA CFA MBA MD PhD LLM
Dopex is a decentralized options protocol that aims to maximize liquidity, minimize losses for option writers and maximize gains for option buyers — all in a passive manner. Dopex uses option pools to allow anyone to earn a yield passively. Offering value to both option sellers and buyers by ensuring fair and optimized option prices across all strike prices and expiries. This is thanks to our own innovative and state-of-the-art option pricing model that replicates volatility smiles.
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