GC Drop — Liquid Legends
The ArtDEX Mascot has arrived!
Ready for another Genius Drop?
We’re excited to announce that the Liquid Legends PFP collection will be dropping on ArtDEX soon! The Liquid Legends launch will be the next major ArtDEX event, following up the recent Tacos 2.0 event.
In the spirit of community, this will be a fully fair-launched collection. Our goal is to build a strong base of holders and liquidity for our new flagship PFP. Let’s dive in 💧
The New Mascot
Liquid Legends will be the new mascot for ArtDEX, pointing to our innovations around NFT liquidity pools and high-frequency NFT trading. This collection is designed and drawn by a Tezos OG 💧
Legends will be fair-launched using our NFTfi products like Liquify and ArtDEX Earn. As an extra incentive, royalties will be set to 0% when trading on ArtDEX. Details and teasers for traits are coming soon!
Legends will come in Ultra, Rare, and Common tiers.
An important note is that these will NOT be SP-enabled, but Liquid Legends holders will be targets for routine SP Crystal airdrops.
Legendary Tech
Before we move into the launch roadmap, we’d like to give a bit of background on the tech that Legends will depend on.
Mixing NFT trading and DeFi has long been a guiding principle for the development of ArtDEX. We refer to this as NFTfi, but the term Hybrid DeFi has gained traction in recent months. Liquid Legends will be a native Hybrid DeFi collection, where the goal is to bootstrap liquidity in both classic NFTs and liquid NFT-backed tokens.
We will use ArtDEX Earn to set up NFT yield farms, where users can earn rewards for providing NFT liquidity to ArtDEX. We will use Liquify to handle all conversion from Liquid Legends NFTs to lqLGND tokens.
By introducing powerful DeFi primitives to the PFP space, we are able to craft a fully fair-launched drop that’s never been done before on any chain!
Legendary Launch
The upcoming release & reveal event is officially called the Legendary Launch. The whole launch event is inspired by IFO-style launches that we have previously done, so don’t be surprised to find parallels with some of our other projects.
The Legendary Launch will be a grand tour of what we’ve built across ArtDEX and SpicySwap! Let’s break it down. 👇
Auction Phase: Ultras & Rares
The first phase of the Legendary Launch will be an auction of the rarest items in the collection.
Out of 5,000 total items, 200 will be in the Ultra-tier and 800 will be Rare-tier. As we move toward release, we will be posting samples from the collection on our socials. Please note that 100 Ultras are reserved for the team.
We will deploy two ArtDEX pools that use our new dutch auction curves, one for Ultras and one for Rares. To increase the suspense factor, all rares will be unrevealed until the completion of the entire auction phase. This means you can potentially get a high ranking PFP!
⚠️ Important: We will take ZERO funds from the auction. All XTZ raised will be used for locked NFT liquidity.
Hybrid Farming Phase
To start, all XTZ raised from the Auction Phase will go directly into a new liquidity pool on ArtDEX with 2,000 Common items, as shown in the graphic. Any user will be able to immediately buy & sell Legends on ArtDEX when the pool goes live.
The remaining 2000 Common items will turned into liquid tokens (lqLGND) using Liquify on ArtDEX. 👇
These 2000 lqLGND tokens will be distributed in two farms, as noted above. These farms show the power of Hybrid DeFi; you can farm on ArtDEX or on SpicySwap as you please!
As lqLGND is distributed, users can turn them back into solid NFTs via Liquify at anytime. Once the farms are finished, Liquid Legends will have a strong holder and liquidity base across both ArtDEX and SpicySwap.
In total there are 200 Ultra, 800 Rare, and 4000 Common NFTs.
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The Legendary Launch will be a grand tour of what we've built across ArtDEX and SpicySwap, and we simply can't wait for it!
Prepare yourself for Liquid Legends, the next bluechip PFP on Tezos 💧
GC
