On top of transforming the way to bridge native tokens across chains, we are preparing a revolutionary IDO combining DeFi with the NFT world.
Why NFT IDO?
We wanted a fair and fun IDO where all the members of the community would have an equal footing to participate, regardless of the size of their status or wealth. An NFT IDO will lead to a fairer distribution of tokens, as well as a stronger community, united by their Otters and exclusive chats on Discord and other benefits.
Introducing Swim City
Located in a multi-chain metropolis where assets travel seamlessly across chains, 10,000 Otter Tots have emerged from the most liquid waters to lead the way to a token paradise.
But what does this have to do with our IDO?
Each Otter Tot will be physically backed by xSWIM (staked $SWIM); which can be redeemed for $SWIM tokens.
All the Otter Tots will be redeemable for the backed xSWIM tokens at any time by burning the NFT on our platform. Redeeming the Otter removes it from the circulating supply, meaning that the Otters will be a deflationary collection.
But this is an NFT collection?
Yes! But not like one you have ever seen before!
Each of the 10,000 Otter Tots will provide yield enhancements and other benefits to holders, as well as always being backed and physically redeemable anytime for xSWIM.
This NFT collection will be closely tied to our protocol. On top of the otterly cute art that we have worked so hard on, once we finish our initial mint we have an exciting roadmap ahead.
This will include but not be limited to:
- Redeemability of our Otters so you can burn the NFT and claim the xSWIM it’s backed by
- SWIM emissions: not only will the Otter be backed by xSWIM, but you will receive emissions every day just by holding your Otter in your wallet
- Emission boost raffles every week, which will drastically increase the SWIM emissions for various Otters. The chances of winning are directly tied to the rarity of your Otter Tot. Special jackpots will also be held to reward those loyal holders (more info coming soon…😉)
- Royalties from trading will go into Swim Waterfall, a smart contract that takes royalties and swaps them for SWIM tokens (as well as governance fees from liquidity pools), which means over time the backed xSWIM will be worth more and more SWIM
- Secondary market listing of our Otters on the most liquid marketplaces
- Future collaborations with other NFT projects and DeFi protocols to add exciting utility to your Otter