Upcoming DeFi (Decentralised Finance) on IOTA is bringing a lot of joy and money making opportunities but at the same time DeFi brings a lot of dangers and traps. As being a part of IOTA community, Alpha Rho realised that there are a lot of DeFi-unexperienced fellow community members who might get exploited by malicious DeFi players and money grabbers. That’s when iotapes idea was born.
Being a degen himself, he experienced a few rugpulls and he was “exit liquidity” few times. If you give us a chance, we hope that you will understand what these terms mean and that you will learn from his experience and mistakes.
Our mission is to become a respectable IOTA DeFi community where people can come and safely discuss about upcoming money making opportunities. If we as a community do our research properly, we hope that this will minimise our losses.
DISCLAIMER: You DO NOT need to buy the NFT to become part of our community. Everyone who will respect our community guidelines is welcome to join our media channels.
Our NFT collection is made of 1074 unique apes. Each ape was randomly generated by combining 105 traits over 8 different categories. The designer of our collection is a great artist named BingoBongoApe aka “Macaulay Culkin” on our Discord server. Feel free to give him a shoutout when you see him, he has done a great job!
All apes from the collection will be offered for sale. Whoever wants to join the NFT project will need to buy NFTs, even the founder himself. No NFTs will be held for “marketing”, “team” or any other purposes.
All of the proceeds from the NFT sales will go towards forming a treasury so each NFT owner is becoming a shareholder in our treasury and a DAO participant. Collection has 10% royalty fee which goes to treasury as well.
The treasury will later be used to earn profits from the upcoming DeFi protocols on IOTA. All NFT owners decide on what to do with the treasury, i.e. distribute profits to holders or accumulate profits to increase the size of the treasury.
By setting up the collection as stated above, each NFT gets a “price floor” of 1/1074 * Treasury value. This is only a speculation and the actual market price of each NFT can be lower or higher than that.
Since the collection is generative, each ape will have a certain rarity score. If you are interested in apes with higher rarity score (rarer apes) then stay tuned to our Discord server because we will leak tool to find out rarity. Rarity score was calculated by applying this method.
No matter how rare or common your ape is they all have the SAME utility.
Until the DeFi on IOTA is ready we will mostly focus on doing research on the upcoming projects, growing our community and just good old fashioned networking. If you like what you just read feel free to join us in completing our mission.
Consider this more of a pipeline that will occupy most of our available time. These are some of the things we will focus on:
- Forming the DAO after the NFT sales event.
- Website update.
- Promotion of our project.
How to join us?
Check out our social media channels on this link.