Market Analysis of the NFT Project, vEmpire DDAO (VEMPIRE)

  1. Project Introduction

vEmpire DDAO is the first protocol that allows the “DeFi style” collateralization of Metaverse assets. It integrates core application scenarios such as DeFi services, minining pool staking, NFT, and DAO.

Firstly, vEmpire established a Metaverse called the Empire. VEMP holders can buy land, Colosseum, trading cards and other assets.

Based on the Metaverse, vEmpire has set up Tokenomics such as liquidity mining and DAO governance. vEmpire DDAO distributes the value generated by a handful of mining pools and LP services to stakeholders. DDAO functions as a cooperative. Stakeholders obtain vEmpire’s VEMP by providing collaterals and receive part of the fees from supported DeFi services, mining pools, NFT, and any fees contributed by DDAO through the staking mechanism.

VEMP can be staked pro-rate to xVEMP to grant governance rights to all operational issues provided by the DeFi service. The revenue generated will be given to the xVEMP holders. Staking derivatives will also be enabled through locked pools supported by the DeFi protocol.

A reasonable NFT project must have three core elements: decentralization + governance + incentives. xVEMP realizes decentralized governance and community incentives through DDAO and DeFi, and realizes the circular economy in the Metaverse.

2. Tokenomics

The total supply of VEMP is about 810 million tokens. It is allocated according to pre-sales, liquidity, on-chain fees, locked positions, and unlocked positions. The specific distribution is as follows:

29.5% for liquidity mining or farming;

29.5% for community economic development;

20% allocated to the team;

9.6% allocated to Treasury reserves;

4% for seed round financing;

2.8% for private round financing;

2% for market liquidity;

1% allocated to advisors;

0.8% for airdrops;

0.8% for public WL sales.

The unlocking conditions are as follows:

About 195.8 million tokens in the 5-year linear unlocking;

About 417.8 million tokens in the 21-year linear unlocking;

About 3.986 million tokens in the 3-year linear unlocking;

5 million tokens in the 2-year linear unlocking;

4 million tokens in the 2-year linear unlocking;

About 4.982 million tokens in the 5-year linear unlocking;

1 million tokens in the 6-month linear unlocking;

800,000 tokens in the 6-month linear unlocking;

2.4 million tokens in the 1-year linear unlocking.

The initial supply of VEMP is 90 million tokens. In the first three years, 20 VEMPs will be minted in each block. It is then reduced to 15 VEMP tokens in the 4th to 12th years, followed by a reduction to 10 VEMP token in the 13th to 19th year. Lastly, it is reduced to 5 VEMP tokens in each block after the 20th and 21st years.

3. Financial Information

At 20:00 BST on August 31, vEmpire DDAO launched the public sale of VEMP on the Unicrypt platform.

A total of 90 million VEMPs were released in this public sale. The pre-sale price was 125,000 VEM/ETH, and the duration of the first round was 24 hours.

Since Unicrypt sells VEMP based on Ethereum, users can only use ETH to participate, and the purchase limit of each participant is 2.5 ETH.

According to the relevant rules, to successfully complete the sales, at least 360 ETH must be raised. If this limit is not reached at the end of the sale, the sale will fail, and the investors will retrieve their initial investment.

A maximum total of 720 ETH can be raised. If this is achieved before the scheduled end time, the sales will end early, a nd VEMP can no longer be purchased.

The sales structure will be divided into two rounds. The first round will be dedicated to UNCL or UNCX holders, which will last for two hours. In order to participate in the first round, investors must hold at least 50 UNCLs and 3 UNCXs. If 720 ETH is raised in the first round, the pre-sale will be completed.

If not, the second round will begin. This round will be open to all without participation restrictions and will last 24 hours.

After the sale is completed, VEMP will be automatically listed on Uniswap, and there is already a VEMP/ETH liquidity pool. From here on, VEMP will be publicly traded on decentralized exchanges.

4. Practical Value

As seen from the vEmpire whitepaper, vEmpire is an original Metaverse + DeFi project with DAO’s nature. The native asset VEMP can be used for trading card winner rewards and liquidity mining, which is closely related to stakeholders.

Not long ago, vEmpire launched the treasure hunt card NFT “The Emperor’s Parchments.” Each first edition of NFT will show clues in letters and numbers. Participants can unlock the total reward of 1% of the VEMP supply.

Upon successful launch of V2, the purchased land and estates will be monetized and the virtual empire will be rebuilt according to aesthetics. All profits will be distributed to the DDAO. The first parcels of land may be:

-An Embassy & NFT art gallery for purchase of trading cards & vEmpire wearables
-A Colosseum, gladiator gambling and NFTs
-Chariot Racing Track, gambling, and Charioteer NFTs
-Army Barracks & Bedsit, MANA charged per “nights stay”, VEMP drops into the wallet,effectively a foreign exchange service until Decentraland accepts VEMP.

The governance token of vEmpire is xVEMP. VEMP holders can stake their tokens for xVEMP. This will earn them rewards and voting rights in the DDAO, which will give them control of the Empire’s invasion, conquest, and expansion.

As profits from battles and later, monetized land, gets gifted to the DDAO (xVEMP holders), the value of xVEMP will rise, meaning rewards are harvested upon unstaking from the DDAO. This rewards loyalty to the Empire as early stakers will benefit as illustrated by the equation below;

The DDAO (as an example) sits at 30% APY which is gifted over the next 6 months. 6 months later a new Soldier joins the Empire and stakes 1 VEMP.

This VEMP is worth 0.836 xVEMP as the xVEMP has had 6 months of rewards already paid at 30% APY.

1 Year later (6 months on from the example directly above) at the same APY, 1 VEMP is now worth 0.7 xVEMP.

This incentivizes early adoption as xVEMP should only increase in value against VEMP:

DDAO Launches — 1 VEMP = 1 xVEMP

Day 1 Soldier stakes and receives the above as no rewards have yet been distributed.

The DDAO (as an example) sits at 30% APY which is gifted over the next 6 months.

6 months later a new Soldier joins the Empire and stakes 1 VEMP.

This VEMP is worth 0.836 xVEMP as the xVEMP has had 6 months of rewards already paid at 30% APY.

1 Year later (6 months on from the example directly above) at the same APY, 1 VEMP is now worth 0.7 xVEMP. This incentivizes early adoption as xVEMP should only increase in value against VEMP.

Note: This article is for information sharing only and does not constitute any investment suggestions.

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Evelyn Zhang

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