De Labs, Parent of DeGods & y00ts NFTs launch $DEGOD crypto

The Labs, mum or dad firm of the favored DeGods and y00ts NFT collections, has launched a brand new crypto token, ‘DEGOD’.

Powered by Solana, $DEGOD will carry all digital property inside the Mud Labs NFT ecosystem right into a single focused cryptocurrency.

The brand new $DEGOD has a restricted provide of 10 billion. It’s convertible for anybody who owns $Mud, DeGods, and y00ts NFT collections. Apparently, $DeGods has been distributed organically for the previous three years with out anybody understanding. Between DeGods, y00ts and $mud there are 41,241 distinctive holders throughout 4 completely different chains, with the highest 10 holding solely 9.3% of $DEGODS.

Through the launch, the DeGods staff offered 3% of the token on a reduced bond curve to extend liquidity. After the bonding curve is crammed, the Liquidity Supplier is positioned on Raydium and $DEGOD is tradable. Surprisingly, all 3% allotted had been offered out inside minutes of launch.

When it comes to tokenomics, 85% of tokens are issued to NFT holders, 10% are owned by the inspiration. 3% of the tokens will likely be used for Bonding Curve, 1% will likely be used for preliminary liquidity and 1% will belong to the companion Solana community NFT market Sniper.

Each time there’s a new launch with liquidity, it will get crushed. I at all times hate it when this occurs as a result of it makes the graph look dangerous.

Within the $DEGOD state of affairs, ~1% of the availability was pegged at 66 million. It was shot at and the sniper is out.

The $DEGOD fuse is $330 million. Time to fill it. pic.twitter.com/wexKkzYW7v

— Frank (degod mode) (@frankdegods) September 15, 2024

NFT holders can convert their NFTs into the $DeGods token at 1 DeGod for 550,000 $Degods, 1 y00t for 120,000 $Degods, and 1 $Mud for 36 $Degods.

DeGods are actually on the market at @MEXC_Official. pic.twitter.com/gyrF7uUD0y

— DeGods (@DeGodsNFT) September 16, 2024

The transfer has drawn quite a lot of reactions, together with one from Yuga Labs co-founder Wylie Arnow (Gordon Goner). He stated that whereas he would not know if DeGods’ transfer will work in the long term, BAYC will not observe swimsuit. Nonetheless, he appreciated DeGod making an attempt these strikes. Within the meantime, the brand new $DeGods is offered on crypto exchanges together with MEXC and is at the moment buying and selling on $0.008154, after leaping 22.2% within the final 24 hours.