Proposal: Add SOCIETY token to Aada Finance as an asset for borrowing (Approved)

Graveyard
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Proposal Description:

We would like to add the SOCIETY token in Aada Finance as an asset for lending/borrowing.

Short Summary

The Ape Society is an art first metaverse second project that is being developed on the Cardano blockchain. The project delivers quality art to its holders in the form of Ape pfps, but also adds entirely novel concepts to the world of nfts. Concepts such as a gamified virtual economy, first and last names, a class structure and perks pertaining to each class. At The Ape Society, your pfp doesn’t just act as your profile picture, it is your key to access the fully encompassing system behind The Ape Society project.

Motivation

Apes

Apes are the starting point for The Ape Society project. The Ape pfp was designed by an award winning art studio, one that has received recognition for their work in VR. The brush stroke detail on the Apes design are one the firsts seen in the Cardano NFT space. The Apes renaissance style mixed with modern age accessories leave a good mix of the old world and new. Read more Apes and their utility below

Cabins

Cabins are your virtual space within the Ape society universe. Cabins are 3D high resolution customizable rooms with functionality. They are interactive spaces that you can decorate with furniture, walls, decor, bought from The Ape Society marketplace.

$SOCIETY

society

Those with the gold, make the rules! :moneybag:

The Society token is the final cog in The Ape Society project, it is the glue that makes the gamified virtual economy a reality. It is the token that will enable trade between individuals, upgrading frames, buying assets for your cabin, and other functions yet to be disclosed. The Society token is deflationary meaning that it gets more valuable over time provided it is used. This is due to its fixed supply of 700 million tokens, and its burn mechanism tied to frames.

SOCIETY is the unit of account for The Ape Society. Apes will use society to conduct business, host contests, fund proposals, buy and sell assets, merch and other things still under wraps.

Utility

$SOCIETY is poised to become one of the highest utility token on the cardano blockchain. The following are the currently disclosed utility for the society token. The team behind The Ape Society has stressed that there is more utility planned for $SOCIETY

  • Frames are upgradeable in-cabin assets used to stake Apes and other NFTs. There are currently 7 level of frames, each level rewards more $SOCIETY than the previous level. The only way to purchase frames is with $SOCIETY. The infographic below has all the information about frames cost and upgrades
  • Society marketplace (more tba)
  • Merchandise (more tba)

Emission Schedule

The emissions schedule is a schedule tailor fit for staking. Apes that are staked will emit society according to the curve below. The emissions will start at point 1, it will rise until it peaks at point 2, before it sharply declines until point 3, and then will steadily go down until it hits a steady state value for the rest of time.

curve
curve1500×1054 111 KB

The timeline for the curve is unknown to prevent participants from gaming the system

Earning $SOCIETY

There are currently 3 ways to earn society

  • Staking Apes: Staking your Apes on The Ape Society staking platform is the best way to earn society.
  • Minswap double farm: You can earn society by staking your society on minswap and earning society from the double farm.
  • TASPI pools: You can stake your ADA with a TASPI pool in order to earn society. Rewards are dished out every epoch. Eligibles pools are Cardanistas, Allincrypto, Quixote, Alam0, ACME, TSC, NERD

Where to buy

You can currently purchase society on MinSwap

TVL (09/15/2022): 1.5 MIO ADA

References

Kenton_Monet
Kenton_Monet1920×1920 369 KB

Proposal by Kenton Monet. Proud resident of [https://doorkeast.com/](https://DOORK EAST)

8 Likes
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I’m all for this proposal, $society is going to have one of the greatest amounts of utility in the space, and it’s deflationary, due to burns with every frame purchase, so providing access to this token is a net positive. just my opinion.

3 Likes
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Agree we should add Society token

2 Likes
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love the Idea!! one of the Top coins on Cardano

1 Like
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Let’s add SOCIETY token to Aada Finance platform :+1:

2 Likes
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$Society is going to be the center of many dapps that are currently being developed by TAS and the community as well. Marketplaces,Options,trading and craftman market. Volume and trading are going to be big on this one.