Mint
11,111 NFTs
We have thought a lot about the subject. In many white papers, very different solutions are offered, ranging from a single MINT with or without Raffle to the sale of 1000 NFTs every month.
We mainly considered 2 solutions which seem to us both the fairest and which maximize the chances of success of the project.
At this stage, the basic mass available to the public is 11,111 NFTs with the following characteristics:
If the demand is exceptionally strong, a new burst will be put in place right after: between 2000 and 10,000 again. The founders, the community and the various Councils will find an agreement as to the use of the funds for the game. For example, to put many more features of V2 or V3 directly in V1.
On the initial 11,111 :
About 80 will be offered under Easter Egg.
There will be tests, challenges, questions, calculations. We organize that. There is about 1 NFT every day. About 40 will be offered at the discretion of the founders.
A Pre Early sale of around 150 NFT will occur around the end of October - Probably in the form of Vickrey type auctions. (These auctions are explained in the Appendices)
An early sale of around 200 NFTs will take place at the end of November.
The white list is then operated (1,111 places) to allow the corresponding allocations
The MINT will be capped at 11,111 NFTs from which all the NFTs already allocated during phases a , b , c , d and e just above will have been removed.
The MINT System will be done in 2 modes which we will discuss with the community.
1.They will have a higher reserve price.
2.On the other hand, bets to put will again take points into account, for example
Reserve price at 0.8 (random value for example)
A player with 300 points wants to bet 0.9843. But as he has 543 points, a calculation (to come) will indicate that in reality he will only have to bet 0.8345. This will be the deposit to be made for him so that his bet is worth 0.9843.
Before the General Sale, 2 early sales will be organized. They serve several purposes.
Check the alignment of the founders with the project.
Validate the alignment of the community with the project, the mode of operation.
To reward people in the community as soon as possible
Finance before the general MINT a short treasury (around 2 x 75 ETH (therefore around 225k with a price around 1500 ETH - beginning of September 2022) in order to immediately implement the first technical devices contributing to the sequel to the White Paper.
These sales will be organized “Amicus Plato, sed magis amica veritas” by an auction of Vickrey-Pinte.
Principles of Using Auctions.
In substance and form.
As stated above, we all want the project to succeed and the game to be the best it can be. We have worked a lot on the gameplay and the immensity of the field of game parameters: both the tokenomics part and the nation of ego, reward, creation of added value, rarity, modeling of entry and exit of $MTCB etc
To do this, we need to find a way to finance the game so that the amount raised is both the highest possible, while being the lowest possible for the community. Obviously, this is completely contradictory. We have to find a balance.
Also, Mathematics is a great help at this time: there are buying and selling processes that automatically allow you to find the fairest compromise: some auction systems such as Vickrey auctions do this.
Basically, Vickrey's auction works like this, and it's actually quite simple:
The bidders have a time to make their offer available, in a sealed envelope. During bidding time, the only thing bidders can know are the following two things:
There are currently, in real time, “n” people who have offered a price.
For each proposal (which no one knows since it is in a sealed envelope), a key is given which will allow, when the envelopes are opened, to prove that the proposed sum revealed was indeed the one proposed, in order to ensure each of the honesty of bets, in full transparency.
2. During the flattening of all the bets (the moment when all the envelopes are unsealed to take note of the bets), we look at the highest bet
3. The winner is the one who placed the highest bet, but he will only pay the second prize.
This type of auction is very interesting because it necessarily forces everyone to put the right price they think.
Indeed, let's imagine that he thinks that such an object is 100, and that this is the right price for himself. If he wins, it means he will win the auction and he will pay the second price (for example here 98).
Now imagine that he thinks that, paying the second price, then he has an interest in raising his bid (to maximize his chances, for example). If this strategy was a winner for him, then, by symmetry, this strategy would also be a winner for the others. In fact, several cases are possible:
He has increased his price, but not the others: his overbidding is useless
He increased his price and the others too: he may end up first at 150 but with a second prize at 149: ultimately, he will still win but for 49 euros more.
He has increased his price but not enough compared to the others: he has taken a risk and is not winning.
4. Obviously, the case where he thinks to lower his bid to win does not work.
Thus, he therefore always has an interest in paying the price he considers fairest: in all other cases, either he takes an unnecessary risk, or his financial allocation is not optimal and he potentially pays a very high price, or he loses the auction.
Vickrey et al.'s auctions are further described in the appendices.
Early sale & Pre sale
In our case, as indicated above, equivalent systems or extensions of Vickrey are possible when there are individual and separate batches to be taken for a community. We will certainly take a more readable and simpler intermediate variant: for example, out of 100 voters, the first 8 will pay the final price of the 9th and all the others will pay their price for the acquisition.
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