The Solciety is a Solana-based collection of 6,999.9 anime-themed characters called ‘Solmates,’ that aim to send message of love and respect to the NFT sector.
The non-fungible token (NFT) space, while ground-breakingly innnovative, is also filled with for-profit-only and ‘cash-grab’ collections with little to no concern for the welfare of society. With this, a unique collection was established to finally tap NFTs’ potential to advance humanitarian efforts while unlocking blockchain’s untapped possibilities at the same time.
Table of Contents
Background
The Solciety was created to be an experimental NFT collection to test the untapped possibilities of tokenomics, P2E games, and game theory.
It also aims to be a force for good by collaborating with one of the United State’s most respected non-profit organizations to support charitable works that can further help humanity.
What is Solciety?
The Solciety is a Solana-based collection of 6,999.9 anime-themed characters called ‘Solmates,’ which aims to send a message of love and respect to the NFT sector.
The team has already minted 1,444.4 Solmates in its collection, which were already sold out, and those who missed this first minting can now purchase these Genesis characters at MagicEden.
The remaining 5,555.5 characters will be raffled by the team each week in the span of more or less 26 weeks.
The team will also soon introduce ‘Mating Games’, which will finally infuse play-to-earn capabilities in the Solciety universe.
When it comes to uniqueness, holders and would-be buyers can rest assured that each of the 6K+ Solmates is completely unique.
The team has implemented a code that ensures that no two Solmates can ever share the same feature, and they will soon publish their tool to allow the community to completely analyze the characters’ trait distribution.
The Story
In the year 2069, human civilization has already been wiped out, but fortunately, two people named Madam and Steve were able to survive, making them the only survivors in the post-apocalyptic Earth.
Their main mission is to repopulate the world again with human beings, or ‘evolved primates’ to be exact, and establish a new world called ‘The Solciety.’
What is $CIETY Token?
$CIETY is the Solciety’s utility token which has 3 major uses: The first is for the collection’s metaverse, the second is for stake locking, and the third is for the ‘FARRT’ virtual raffle tickets.
The token, which has a 1 billion supply, can be earned by holders by stakelocking their Solmate NFTs between 1 day to 6 months. The longer the holders stake their Solmate, the higher the rewards they can receive, increasing their assets further.
The system has allocated 20% of the token’s total supply to the community treasury, and 10% to the Solciety team. The remaining 70%, meanwhile, will be allocated on community rewards to the staking pool.
Also, the $CIETY will have an emission that will take place every 4 years, and its emission rate will decrease in a linear manner.
And as an important reminder for holders, $CIETY is only valuable (inside) the Solciety ecosystem and cannot be redeemed for anything in the outside world.
Stakelocking
Stakelocking is a mechanism that rewards users who can commit long-term support for the platform and is a system that originated from Curve Finance.
Solciety has adopted this concept by rewarding $CIETY tokens to holders based on how long they’ve stake locked their Solmate NFTs.
Tokens will not be automatically transferred to the holders’ wallets; they can only receive their rewards by claiming them or when they withdraw their Solmate NFT.
And since this feature is called stake ‘locking’, a Solmate is virtually locked and cannot be sold or transferred by holders during the locking period.
NFT Raffle ‘Rescue Program’
FARP Program
FARP or the “Find and Rescue Program” is the official name of the weekly NFT raffle mentioned earlier in the article.
NFT enthusiasts can “rescue” the new 5,555.5 Genesis Solmates by purchasing them and bringing them under their care.
FARRT Ticket
FARRT or the ‘Find and Rescue Raffle Ticket’ is the ticket needed to participate in the FARP rescue program and must be purchased using $CIETY tokens.
Allocations
Solciety will donate 30% of its mint proceeds to the American non-profit organization GiveWell, while the remaining 70% will be funneled to the community treasury.
A royalty of 6.9% will be implemented for all resales, and 15% of this will go to GiveWell to help it continue and improve its charitable activities.
To implement 100% transparency, Givewell will verify the donated amount once the 30% of the mint proceeds have been transferred to them.
Also, holders can directly check GiveWell’s official Solana address to see if royalty donations are really being sent to the charity institution.
GiveWell: A Closer Look
GiveWell is a non-profit organization and a data-based “recommendation platform” that ranks the best and most efficient charitable organizations around the world.
Determining the track record of various charitable institutions can lead donors to trustworthy organizations that can efficiently manage donations for the good of society.
With good souls willing to donate funds for noble causes, GiveWell knows that searching for qualified organizations is a must to prevent dollars from being wasted.
Conclusion
The Solciety’s raffle concept is an interesting idea from the team, and since it’s designed to take place every week, it can keep the community’s excitement fresh and fiery. Moreover, the stakelocking feature, which was derived from Curve Finance’s innovative protocol, incentivizes long-term holders no matter the floor price. But what’s even more admirable about the project is its partnership with GiveWell, which will enable it to genuinely push humanitarian efforts and various charitable activities through its NFT collection.
