Proposal: Add DING as a borrow and collateral option to Lenfi

Proposal Description

We would like to add the $DING token as both a lending and borrowing asset on Lenfi

  • Approve
  • Disapprove

0 voters

Short Summary

As part of the efforts to cement the $DING economy, DEADPXLZ aims to extend the utility outside of the project ecosystem’s bounds, targeting advantageous use cases such as enabling DING to be used as an asset for borrowing&lending within the Lenfi dApp.

Motivation

  1. Who is posting the proposal? (a community member or a team member).

A community member, reformulating original proposal by AF, the founder of DEADPXLZ.

  1. Project and token overview

DEADPXLZ is the first interactive NFT collection on the Cardano blockchain. It started out in March 2021 and is currently developing a crypto gaming platform named PXL Wars, built around a novel Play to Earn model with the goal of rewarding both those who are skilled at the game and the holders of the Genesis PXLZ collection.

With PXL Wars, DEADPXLZ (roadmap here) aims to bring the next generation P2E gaming experience leveraging Cardano’s unique extended UTxO model and protocol capabilities. The $DING token is a key part of this narrative due to its positioning as both project governance and utility token.

The game will make use of the Paima studio SDK, an engine that’s cryptocurrency and blockchain agnostic, developed by the dcSpark team (Sebastien Guillemot et. al), making PXL Wars a true web3, totally decentralized game that shall bring traditional as well as crypto gamers from other chains to Cardano.

PXLZ will be a browser-based game meaning that a gamer on any device (PC, tablet, smartphone, laptop, mobile, etc.) that’s running on any platform (windows, linux, android, iOS) using any browser can play the game smoothly. It’s a mobile-friendly game with a mobile app in mind as well!

  1. Explain the positioning of the token in the Cardano ecosystem. How will it benefit the protocol?

$DING is the utility & governance token of the DEADPXLZ ecosystem.

The total supply of $DING is fixed at 1,000,000,000.

The $DING token will be used within the in-game economy and as well as engage the community into several distribution programs meant to achieve the project milestones such as:

  1. Ding Staking (ended)
  2. DING LP Drive (ended)
  3. DING Royale (ongoing)

Furthermore, DEADPXLZ takes pride in having garnered a strong community which can bring significant volume to the Lenfi protocol thus benefiting both LENFI and DING holders.

The fact that the project managed to raise 1.6M ADA in TVL through its LP Drive community-driven event stands testament to the fact that PXLZ ecosystem is a mature & dedicated community.

  1. What’s the asset’s utility?

PXL Wars players will be able to use $DING to purchase different in-game utility and cosmetic items, stake, or participate in the governance of the DEADPXLZ project.

In addition to this, we plan to integrate DING into various other projects and dApps developing on Cardano such as DEXes, marketplaces, auction houses, lending platforms & more.

  1. Token data

Shortly after its successful liquidity pool seed round, $DING has quickly positioned itself to be one of the top 50 Cardano native tokens. Aggregated trading data can be found here .

You can check the live $DING circulating supply as well as other token metrics by going here .

Total supply is fixed at 1,000,000,000 $DING, as follows:

  • Circulating supply : 129,835,065 $DING
  • Community DAO Treasury: 17,230,160 $DING
  • Project Treasury: 527,934,775 $DING
  • Ecosystem Fund: 200,000,000 $DING
  • Team & Advisors: 100,000,000 $DING

Emission Schedule:

All details regarding $DING distribution can be found here .

TVL at the time of writing is 685,000 ADA.

All details regarding DING distribution can be found here .

Conclusion

The project has been consistently in the top 10 Cardano NFT projects (total traded volume), crossing 13M ADA trading volume just recently.

We try to do things that have never been done before, are hard to copy and solve a real problem.

We are focused on actions speaking louder than words and we have the drive and history to prove that DEADPXLZ has set out to meet every milestone it has laid out. Community engagement has been the project’s priority from day one, enabling holders to benefit from an organic ecosystem that is focused on user experience and growth by combining utility and governance.

References:

4 Likes

You got my Yes on this one! :brain:

7 Likes

No brainer… pxl , the only way is up

4 Likes

A lot of potential here, voted

4 Likes

Vote YES for $DING! :bell:

3 Likes