Calculating TEDY Rewards for Initial NFT Offering
Our Teddy Bears Club calculator is now live! This article explains how to calculate your TEDY rewards for each Teddy Bears Club NFT held. TEDY tokens from unsold NFTs are distributed equally to NFT holders, and this explanation will break down different scenarios and how you can accurately calculate your TEDY rewards for both Round 1 and Round 2.
TeddySwap is an open-source decentralized exchange on Cardano focusing on stablecoins. Our testnet has been live for 3 weeks and thus far we've had over 4,800 users and 440,000 successful transactions.
Just yesterday, we released an article detailing our batching solution, known as Honey Badgers, and explained why we think it's a secure and scalable solution for Cardano DEXs to process transactions in a decentralized, transparent manner.
While we prepare for our mainnet launch, our Initial NFT Offering is currently live until April 8th, 2023, where community members can earn TEDY tokens for holding these NFTs.
After April 8th, if there are unsold NFTs, the remaining tokens from those NFTs will be distributed to current Round 1 and Round 2 NFT holders. Community members can use the Teddy Bears Calculator here.
For information on full utility, please see our initial article on Round 2.
To calculate the rewards for Teddy Bears Club NFT holders, we'll first determine the undistributed TEDY tokens from the unsold NFTs in Round 2. We start with the total TEDY tokens allocated for distribution, 42,000,000, and subtract the baseline TEDY tokens distributed to the 890 sold Round 2 NFT holders: 4,200 * 890 = 3,738,000. This leaves 38,262,000 TEDY tokens remaining for distribution.
Next, we'll find the effective number of NFTs considering both Round 1 and Round 2 holders. There are 804 sold Round 1 NFTs with a 2.75x bonus, resulting in 2,211 effective NFTs for Round 1. Adding the 890 sold Round 2 NFTs, we have a total of 3,101 effective NFTs.
Now, we can distribute the undistributed TEDY tokens among the effective NFTs. Each effective NFT will receive 12,338.60 TEDY tokens (38,262,000 / 3,101).
For Round 1 holders: With the 2.75x bonus, they will receive 33,391.15 undistributed TEDY tokens (12,338.60 * 2.75) per NFT. Considering the baseline reward of 10,500 TEDY tokens + a 10% bonus, a Round 1 holder would receive a total of 44,941.15 TEDY tokens (10,500 + 10% bonus + 33,391.15). per NFT.
For Round 2 holders: They will receive 12,338.60 undistributed TEDY tokens per NFT. With the baseline reward of 4,200 TEDY tokens, a Round 2 holder would receive a total of 16,538.60 TEDY tokens (4,200 + 12,338.60) per NFT.
Potential Future Value
Considering the potential future market cap of TEDY, we can estimate its value by looking at the average fully diluted market cap of other Cardano DEXs. If TeddySwap were to attain a market cap of the combined average of Cardano DEX, this would give TEDY a value of 0.033 ADA. Community members can plug and play with different figures in our calculator here.
Using the 0.033 ADA/TEDY numbers, this would equate to:
- Round 1 holders, who receive a 2.75x bonus on the undistributed TEDY tokens, would see their rewards worth 1,483.06 ADA (44,941.15 * 0.033) per NFT. Each of these NFTs originally cost 350 ADA.
- For Round 2 holders, TEDY rewards would be worth 545.77 ADA (16,538.60 * 0.033) per NFT. The cost of Round 2 NFTs is 150 ADA.
Community members can plug and play with different figures in our calculator here.
Thanks to our community for your support as we prepare to launch our open-source stablecoin DEX on Cardano.
We believe the Teddy Bears Club NFTs should provide long-term value to our community members and enhance the experience of interacting with the TeddySwap protocol.
In the coming weeks, we'll release details on our audit, public bug bounty, our new interface, and first partnerships.
We hope you will join our mission to provide open-source and decentralized infrastructure for the Cardano community with the highest levels of security and the best possible user experience.
For more information on TeddySwap:
Website | Twitter | Minting | Calculator | Docs | Github | Linktree
TeddySwap is an open-source decentralized exchange AMM protocol focusing on stablecoins in the Cardano ecosystem. Our protocol is developed by former Cardano Foundation developers and the creators of plu-ts, a smart contract framework built to efficiently deploy Cardano dApps.