We’re excited to launch Round 2 of the Teddy Bears Club, where holders of these NFTs will be able to earn TEDY tokens, the platform token for the TeddySwap stablecoin DEX. Round 2 of the Teddy Bears Club NFTs will launch this Wednesday, March 8th, 2023 at 5:00 PM UTC, and the minting price will be 150 ADA for each NFT. There are 42 million TEDY tokens available though this Initial NFT Offering — and the tokens from any unsold NFTs will be redistributed proportionally to Teddy Bears Club NFT holders.
Round 2 of Teddy Bears Club will have 9,200 NFTs.
The mint price for each NFT is 150 ADA.
Round 2 holders will earn a minimum of 4,200–7,000 $TEDY for each NFT held, based on rarity.
If there are unsold NFT’s after the mint, the remaining $TEDY tokens (from the pot of 42 million TEDY tokens) will be split amongst all NFT holders proportionally to how many NFTs are held.
For example, if 10% of NFTs are minted (920 NFTs), the remaining 90% of TEDY tokens (37.8 million from the pot of 42 million) would be evenly distributed to all Teddy Bears Club holders proportionally to how many NFTs are held by each holder.
Using the example of 920 NFTs minted, if someone owns 9 NFTs (~1% of the 920 NFTs), they could expect to earn approximately 378,000 TEDY from the remaining tokens (1% of 37.8 million). If someone owns 1 NFT they can expect to earn approximately 37,800 TEDY (~0.1% of 37.8 million).
Round 1 holders will be calculated as having 2.75x bonus to ensure they receive a beneficial proportional share of potential remaining tokens (since mint price for Round 1 was 350 ADA.)
The 5 different tiers of rarity are:
- Tier 1 — Rarity 1–100 → (7,000 TEDY)
- Tier 2 — Rarity 101–999 → (6,000 TEDY)
- Tier 3 — Rarity 1,000–2,999 → (5,000 TEDY)
- Tier 4 — Rarity 3,000–5,999 → (4,500 TEDY)
- Tier 5 — Rarity 6,000–9,200 → (4,200 TEDY)
TEDY tokens will be distributed over a 6 month period starting from our mainnet launch. The tokens from the “remaining tokens” distribution will be distributed throughout the first year of our mainnet launch.
There are a total of 5 different types of utility for Round 2 holders:
- 4,200–7,000 TEDY tokens minimum (explained above).
- 2% FISO boost per NFT.
- 2% Incentized Testnet bonus per NFT.
- 0.4% boost on liquidity bootstrapping event per NFT.
- 0.4% yield farming boost to certain pairs on TeddySwap per NFT.
Minting and Launch Date
The cost of each Teddy Bears Club NFT for Round 2 will be 150 ADA.
Minting will begin Wednesday, March 8th, 2023 at 5:00 PM UTC and will be available to the public right away.
Participants will be able to mint a maximum of 5 Teddy Bears Club NFTs per transaction.
The minting period will end in 1 month or until they are all sold out.
We are excited to launch the Teddy Bears Club NFT collection this upcoming Wednesday which serves as an avenue to provide long-term funding to our team and ensure the best security audits for our open source DEX focused on stablecoins.
We believe the Teddy Bears Club NFTs should provide long term value and enhance the experience of being a part of the TeddySwap community. We hope you will join our mission to provide open-source and decentralized infrastructure for the Cardano community with highest levels of security and the best possible user experience.
For more information on TeddySwap:
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.
Disclaimer: The content of this article is for informational purposes only, you should not construe any such information or any material on the TeddySwap site as legal, investment, financial, or other advice.