Twitter: @CasualNFTs
Introduction
The initial idea of LUNC Fury NFT project was to explore the NFT sector. Later this idea got transitioned into exploring the NFT sector as well as to raise funds as Seed Sale to work on the proposed article on Community Terra (CUST) as a standalone project. The initial proposal for CUST was based on the “Burn Tax” as source of funds. However, some of the community members who liked the idea were not “OK” with utilizing the burn tax and raised concerns due to Binance support on LUNC burn and reduction of total supply, while the majority remained silent on the sensitive topic. Creating new AFT as a standalone project requires funding for setting up the project, development, successful launch and sustaining in the market. This also requires revision to the initial proposal on CUST based on the funding source and other restrictions. A detailed whitepaper will be published later based on the successful completion of the “The LUNC FURY NFT” sales.
Upon successful completion of the NFT sales, developers are required to work on the DEX and AFT. This is an attempt to raise partial funding from NFT sales, while the rest are for NFT art.
The LUNC FURY NFT
NFT Price is decided based on 2 components, NFT art value (100K LUNC) and seed sale (150K LUNC).
For every 100 LUNC FURY NFTs purchased, 1 NFT will be given away to the community members (random selection) who support the project and promote in twitter resulting in increased sales. Maximum number of NFTs given away will be up to 100 and be distributed for unique account holders.
Why should you buy LUNC FURY NFT?
- Art lovers who like to possess ownership to digital collection and provide support for new entrants into the NFT sector are encouraged to add this NFT to your collection.
- Besides art collection, holders will get 0.5% discount on ICO sale (Refer Concept for Seed Sale, page 4) for each NFT they hold. (Not exceeding maximum of 50% discount value). i.e., If you hold 5 LUNC FURY NFTs, you are entitled for 2.5% (5 x 0.5%) discount. NFT holders who buy and hold 100+ NFTs to your collection will receive a maximum discount of 50%.
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Perfect-Breed Minter: NFT Holder (at the time of ICO sale) with the following LUNC FURY traits will receive a flat discount**.
- More details to be shared later as few more traits will be added before the launch
LUNC FURY Traits:
Background : Dark
Body : Black, Brown, Turquoise, Blue, Green, Midnight, White, Maroon, Purple, Gold
Eyes : Eye01, Eye02 ……, Eye30
Mouth : Closed
Wings : Black, White, Midnight, Purple, Fusion (Purple), Gold
Tail : Black, White, Midnight, Purple, Gold
Nails : White, Black, Purple, Green, Gold
Note:
- Highest of the discount % will apply for ICO sale, if the NFT holder has more than 50 NFTs
- Perfect Breed Minter is a reward criterion and doesn’t guarantee to be top on rarity.
- ** Perfect Breed Minter quest is limited only to the first 5 NFT mints as per criteria. Holders of these 5 NFTs alone are eligible for flat discount at the time of ICO sale, if there are more NFTs with different eyes / mouth open or closed.
In addition, there are few ideas where the NFT holders may be entitled for PERKS in the long run. More details to follow in the subsequent whitepaper to be published prior to ICO sale.
CONCEPT FOR SEED SALE
Community Terra’s (CUST proposal) primary source of funds was the burn tax. As the continous inflow of funds are required to control volatility, need to identify alternate approach for the standalone project to support the AFT. The next possible option for continous flow of funds is an exchange. As the focus is on decentralization, launching a DEX is a viable approach for constant flow of funds to control volatility and add adequate backup to generate AFT.
Fungible token to AFT swap will be auto disabled, if the total supply reach 10M or below.
AFTs core priniciple of working will be the same as outlined in CUST proposal with few modifications.
Quick snapshot on the operation model for Seed Sale. Upon successful NFT sales, detailed whitepaper will be published explaining the DEX & modified AFT working mechanism.
In Simple terms,
- Fungible Token Cap: 100M
- By minting AFT, fungible token supply be reduced and this is refilled by excess supply of LUNC, USTC. i.e. Holders of LUNC / USTC can do a 1 way swap to mint fungible tokens to come into circulation. Equivalent value of fungible tokens will be minted and LUNC, USTC will be directly sent to burn address. Minting of fungible tokens cannot exceed 100M and cannot fall below 10M supply.
- By minting fungible tokens, supply of LUNC & USTC gets reduced and the fungible tokens can be traded back to USTC / LUNC in DEX.
- Fungible & AFT will act as a 2 way swap once threshold limit is reached.
- AFT will be live once the sufficient threshold limit is reached
- AFT will follow the main operation as mentioned in my CUST proposal, with slight modifications in the removal of funds distributed to Community Pool, ORD as it is not required.
Thus all 4 coins will be interdependent on each other and work together in reducing excess supply by minting another. A detailed whitepaper will be published before the launch of ICO sale, with detailed information on the new fungible token & AFT.
Link for the previous proposal Community Terra (CUST)
Personal Note
Upon successful sales of 4K+ NFTs, I am willing to reveal my personal identity, qualification etc. with proper identity proof documents to Terra Grants Foundation / a committee formed by LUNC Classic Chain for validating projects and personal particulars. This will eliminate any possible doubts on possible ru-g pulls.
Twitter: @CasualNFTs