DeGems is an experimental NFT with the simple goal of making NFTs fun again!
The project features a unique pot where Avax is accumulated through various actions in our ecosystem. Each DeGem NFT is entitled to a share of this pot. Gone are the days of hustling for exit liquidity—at DeGems, we’ve got you covered. DeGems can be liquidated at any time for your share of the ever-expanding pot! If you ever decide you are done with us, just melt your NFT, take your Avax, and go.
The main cooperative goal of DeGems is to increase the Avax in this pot, thereby increasing the value of all DeGem NFTs. See the FAQs at the bottom of the page for more details.
What is The DeGems pot & Instant Liquidity feature? / Melting
The Pot is a pool of Avax. Each DeGem NFT is entitled to an equal percentage of the pot, which can be accessed by burning your DeGem NFT. This provides instant, on-demand liquidity for our holders. As the amount of Avax in the pot increases, the liquidation/melt value for each DeGem also increases we call this process “Melting”.
Each DeGem holds a hidden / locked 5% of its ‘True value’ meaning each DeGem is technically worth 5% more than what is shown. When a DeGem is melted that 4% goes to the pot increasing the value of all DeGems & the other 1% goes to support development.
The main cooperative goal of DeGems is to increase the amount of Avax in the Pot, which in turn increases the value of all DeGems.
How is more Avax accumulated into the pot
Marketplace Royalties: 80% of marketplace royalties are instantly accumulated into the pot whenever a DeGem is traded.
Melting/Liquidating a DeGem: If a DeGem is melted/liquidated, the DeGem is burnt, reducing the total supply. The user gets their share of the pot. Whatever the stated value is for melting a DeGem on the Melt page, there is an additional 5% that is hidden and locked. When you melt your DeGem, that value is unlocked: 4% goes to the pot, and the remaining 1% goes to the developers. For example, if the liquidation value is 1 Avax, the true value of the DeGem is actually 1.05 Avax.
Shattering a DeGem: When a DeGem NFT is shattered, the NFT is burnt, and the entire Avax value goes to the pot. In exchange for this, you will be given 11,000 Zen, thus reducing the total supply of NFTs and massively boosting the pot!
Gathering Zen: The Temple page will allow users to effectively donate Avax to the pot and Zen liquidity pool (LP). In exchange, you will receive a dynamic amount of Zen. The amount of Zen received is calculated as follows:
What’s the Total supply?
There will be 1000 DeGems Total
There are 420 unique pieces of art that can be collected with varying rarities. Doubles can exist & it is also highly possible that some may never even get minted. This allows for a unique rarity system that will dynamically change over time as NFTs are burnt and forged.
How will the Mint work?
Mint Price = 1 AVAX Total Supply = 1000 Max Per Wallet = 10
The mint will be open to everyone in the spirit of cooperation. If the collection does not mint out in 7 days (168Hours). The mint will conclude & DeGems will become Live!
Initially when a DeGem is minted it will appear as a un-cut stone. It will be entirely your choice to reveal your DeGems if you so choose. (revealing is not required to melt)
After the mint concludes Melting will become immediately available! The Initial Melt value will be around 0.9 Avax & is designed to rise quickly.
Traits & Rarity
Spectrum – The Color of the DeGem [ Crimson – Azure – Verdant – Rose – Violet – Onyx – Pure – Amber – Metal – Oddity – Opalescent ]
Luminous Core – The Brightness of the DeGem [ Dark – Dim – Gentle – Bright – Radiant ]
Materia – The material or type of crystal formation of a DeGem [ Translucent – Manifestation – Opaque – Enigma – Twinning – Cluster – Flawless cut ]
Special Features – Rare features of some DeGems [ Celestial Body – Terrestrial – Divine Rings – None ]
Unique – One of a kind Legendary traits, only the rarest of DeGems would have any of these traits! [ Crystal Doggo – Earth – Mars – Bitcoin – Saturn – Sol – Sol System – True Diamond – Rose Quartz – Cheese – Chikn Wizard – Skull of Madness ]
$Zen functions as proof of pot, what does that mean?
Any time Zen is minted, Avax is added to the pot. This is calculated dynamically based on the amount of Avax a DeGem NFT can be liquidated for. In other words, the more Avax a DeGem can be melted for, the more it will cost to mint Zen. This allows the token to be auto-deflationary.
How does Forging a new DeGem post mint work?
Due to how Zen functions as proof of the pot, this allows us to burn Zen to create a new DeGem post-mint. This may seem like it will decrease the amount of Avax in the pot, but on the contrary, 5-10 times the amount of Avax is required to create enough Zen to forge/mint a new DeGem. So even if you acquire all that Zen cheaply on the marketplace, someone has provided more than enough to not only cover the Avax value of the new DeGem created but also add a lot more to the pot.
As a bonus, any time Zen is burnt by other methods, such as a transaction tax, rerolling, or some of our future mints and drops, this ensures that Zen could never be used in forging, meaning the amount of Avax provided is well over 5-10 times the amount the DeGem can be melted for.
How does the reveal work for DeGems?
Shortly after the mint concludes, the ability to reveal your DeGem’s rarity will become available. Revealing your DeGem is completely free, aside from the gas fees. Revealing is a choice left up to you; we will never force you to reveal your DeGem’s rarity if you choose not to. Whether a DeGem is revealed or not, the ability to melt them for instant liquidity remains available to you.
What do the Devs get out of this?
-Dev takes 5% of the Avax from the initial mint -Dev takes 1% of marketplace trades -Dev takes 1% when a NFT is Melted
Would you like to sign up for the Test-net?
DeGems can be quite a daunting project to take in at first. If you would like to be a part of our future test net experiments, please let us know by dropping a DM to our X (formerly Twitter) account.
First of all, I apologize. We strive for 100% transparency at DeGems. If you have any other questions pertaining to this project, please do not hesitate to reach out on X (formerly Twitter). DM our main Twitter account, and we will always do our best to answer any questions you might have.
