Proposal: Add DING to AADA v1 as an asset for borrowing

Graveyard
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Proposal Description

We would like to add the $DING token in AADA V1 as an asset for borrowing.

Short Summary

As part of the efforts to cement the $DING economy, DEADPXLZ aims to provide its token holders with utility outside of the project ecosystem’s bounds, targeting advantageous use cases such as enabling DING to be used as an asset for borrowing within the AADA dApp.

Motivation

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

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 to the CNFT space by 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.

  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 programmes meant to achieve the project milestones such as:

  1. The PXL Boot Camp
  2. DING LP Drive
  3. DING Royale
  4. Ding Staking

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

The fact that the project recently managed to raise 1.6M ADA in TVL through its LP Drive community-driven event stands testament to the fact that PXL Fam is a mature & dedicated CNFT 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 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:

  • PXL Staking Program : 68,209,881 $DING
  • Community DAO Treasury: 6,790,119 + Unclaimed PXL Staking $DING
  • Project Treasury: 600,000,000 $DING
  • Ecosystem Fund: 200,000,000 $DING
  • Team & Advisors: 100,000,000 $DING

Emission Schedule:

All details regarding $DING distribution can be found here.

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$DING is being currently traded on Minswap and Muesli Swap with constant top 24h volume numbers alongside other best performers in the Cardano ecosystem.

TVL at the time of writing is: ~2.5 Million ADA

All details regarding DING distribution can be found here.

Conclusion

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:

9 Likes
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No to meme tokens thanks. We can draw users in without having a use CNFT projects as a crutch/way to attract new users.

1 Like
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Excellent proposal, Deadpxlz is an amazing project, the white paper is very detailed, one of Cardano’s best nft OG projects without a doubt.

4 Likes
4

AADA requires mass adoption to be successful. To achieve that goal requires carrying tokens that have name recognition in the Cardano ecosystem, sustainability and solid tokenomics. The DING token fulfills that need, a quality project that has continued to build during the bear market and consistently delivered above and beyond expectations.

5 Likes
5

It’s not a meme token…

2 Likes
6

When we think about how the Cardano ecosystem is going to grow and flourish, there are many different avenues it can and will take. NFTs have clearly been a massive use case for the chain, one that Charles and team clearly didn’t anticipate, and that’s an exciting development. He’s said it himself, and it’s a key reason why gatherings like CNFTCon and Rare Bloom exist. It’s also why extensible platforms are built: for others to build and grow upon and create use cases that IOG never could dream of.

I view AADA as yet another platform that should embrace this spirit of broad extensibility if it hopes to grow exponentially. Project creator AF has built the DEADPXLZ project and the DING! platform with sustainability in mind. From the NFT design, which is entirely on-chain code, to the marketplace launch and functionality, to the 3D metaPXLZ metaverse extensions, to the DING! staking program and (soon) the DING! Royale program, every step of the way has been purpose-built with growth and future-proofing in mind.

For all those reasons, and many more, DING! is the type of project token that people will want to borrow and it belongs on the AADA platform. There are multiple use cases for it throughout the DEADPXLZ gaming ecosystem, and given that the game will pay out ADA as a result, DING! has the most logical cross rate value of any project in the Cardano fungible token ecosystem.

Last, anybody who understands tokenomics and emissions schedule should appreciate the plan that AF has created. There was no private sale of DING!, therefore there’s no worry about the project token being dumped by investors who are trying to make money off the backs of retail. Price stability is often a big question mark when it comes to project tokens, and it’s much opinion that DING! passes all of the key tests when it comes to core functionality, governance use cases, and having an intrinsic tie to the project’s long term strategy.

5 Likes
7

Great proposal! Excited to see $DING added as an asset to AADA. The benefits to both projects would be substantial :handshake: DING!

4 Likes