What are DeGods Feature Image

What Are DeGods? All You Need to Know

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The Solana NFT ecosystem is witnessing rapid development and adoption, especially since its incorporation into popular ETH marketplaces. The hype and traction have led to the release of several projects over the last few months.

Meanwhile, value, uniqueness, high-quality art, and originality seem to be the qualities NFT collectors are looking for. Among the few Solana projects that can boast of these values is DeGods.

DeGods has become a prominent blue-chip project with a high return on investment for many holders.

Read on to learn more about what DeGods NFTs are.

What Are DeGods?

DeGods Hompage
DeGods Hompage – degods.com

DeGods is a Solana-based NFT collection of uniquely generated deflationary art comprising 10,000 virtual gods. As the main concept of NFTs, DeGods is an amazing showcase of professional artistry with a blend of unique secondary traits.

The collection features creative outfits and attributes that determine their rarity level. Holders can analyze their DeGods NFT rarity with its official rarity explorer or on external rarity explorers.

Benefits of holding DeGods NFT ranges from token reward via staking to access to exclusive opportunities of the DeGods community. Also, access to the ecosystem DAO and gaining decision-making abilities.

What Makes DeGods Unique?

DeGods is one of the high-ranking Solana NFT projects. The project was launched in October 2021 and has since risen to be one of Solana’s best projects by volume and market cap.

DeGods Magic Eden
DeGods Collection Magic Eden – magiceden.io

It features high-standard mechanisms further to preserve the value of its members’ investment. Perhaps one mechanism that maintained the price of DeGods NFT at its infancy stage is the 33.3% tax. It is a Paper Hand Bitch tax imposed on paper hand sellers that sells their NFT below floor price on secondary marketplaces.

The 33.3% tax is an experimental innovation that ensures the price of NFT does not go below the market price at any time. The tax is added to the DeDAO treasury.

There is also a deflationary mechanism in place to maintain NFT supply through burning for DUST.

DeadGod NFTs

Another stunning part of DeGods NFT project is the DeadGods. Holders of DeGods can transform their NFT into a doppelganger version of the original called DeadGods. This is possible via a special vial, the StarDust.

The DeadGods is not a new collection but an opposite side of the DeGods NFT. Once a holder mints the StarDust, the metadata of the DeadGod will be added to the DeGods NFT. Therefore, when holders burn their NFT, they receive a double DUST reward.

Holders can also switch between their DeGods and DeadGod NFT. Meanwhile, once they sell their NFT, both DeGods and DeadGod sides will be transferred to the buyer.

DeGods Ecosystem Economy

DeGods feature a vibrant ecosystem economy powered by $DUST SPL tokens. It is the native and utility token of the DeGods ecosystem. The maximum supply of DUST is 33,300,000 units with an initial token allocation of 0. Token will enter circulation via burning and staking of NFTs only.

As the utility token, DUST is useful for NFT upgrades and additional revenue yield for DeGods holders.

Token Information

  • Token Name: DUST
  • Blockchain: Solana
  • Contract
  • Token Type: Utility
  • Total Supply: 33.000.000

How To Earn $DUST

Holders and members of DeGods can earn DUST tokens by staking their NFT for yield rewards. This provides an easy passive income with an attractive ROI of up to 10 DUST tokens daily for DeGods holders. DeadGod holders can earn up to 30 DUST daily via staking.

DeGods holders can also earn by burning their DeGods NFT. By burning DeGods, holders can claim $DUST tokens from the DeDAO treasury. Meanwhile, holders cannot reverse or stop the burning process after initiation. Burnt DeGods are removed from circulation afterwards.

DeGods DAO System (DeDAO)

Apart from its vibrant economy, DeGods has a well-established decentralized autonomous organization that controls ecosystem activities and decisions in DeGods. 

The DeDAO ensures the stability of the ecosystem via funding support for its token’s liquidity pool, purchasing assets, and community development. The funding stems from DeGods marketplace royalty fee of 9.99% (6.66% for DeDAO and 3.33% for the project team)

Decision making is an important feature of the DeGods DAO. Decisions makers in DeDAO include

  1. DAO Leads: They include the project founders and ecosystem leaders.
  2. Alpha Team: They include Alpha Gods, who are market experts
  3. Divine Council: Comprises contributing members that are voted by DeDAO. They inspect proposals and the worthiness of decisions before approving them for DeDAO voting.

DeGods NFT Statistics

DeGods Statistics
DeGods Statistics – Moon.ly

DeGods started as a regular NFT project with3 SOL mint price in 2021. The floor price rallied modestly till January 2022, when it broke its previous ATH. Then, amidst increasing hype for Solana NFT, the floor price went through the roof, peaking at 315 SOL in April.

DeGods NFT is currently trading at 358 SOL with 621.4K SOL trading volume and a $150 million floor market cap. It is available on top Solana marketplaces, including Magic Eden, Solana Art, Alpha Art, and Opensea.

Roadmap Activities

DeGods Roadmap
DeGods Roadmap – roadmap.degods.com

Further development and newer implementations are the main themes of DeGods roadmap activities. According to the team, there will be a marketplace where ecosystem members can trade tokens in the future.

The DAO system also looks to integrate DUST into broader use cases such as in-game tokens, marketplace legal tender, and crypto betting platforms. Also, as the main purchase token that members can use to purchase DeGod from the Dust Store.

Conclusion

DeGods has proven to be a community-driven project with impeccable standards. It has also set innovative mechanisms to provide greater and better value for its NFT holders.

Within a few months after launch, DeGods has dominated the Solana ecosystem with jaw-dropping volume and sales. With its explosive marketplace debut and steady price rise, DeGods is definitely an important project worth the hype.

If you’re looking for a place to store you DeGods, check out our guide on the best Solana Wallets for NFTs!

Disclaimer
All articles published on Coinmash are strictly for informational purposes only. Any action that is taken from reading content published on this website is done at your own risk. 

About the Author
James Satoshi
James Satoshi
James is a leader in Web3, NFTs, & DeFi. You'll spot him covering all topics through-out Coinmash - some say he's so good he doesn't even seem real.