Thread by @Tricky_NFTs

#birdsplaining - Episode 02: Birdonomics | Tokenomics
[diving into the depths of #kanaria birds and #RMRK2]

🧐this episode we check #birdonomics, understand why rare #kanarias are so expensive, where whales are and how birds connect to the unbelievable $RMRK #tokenomics🔥🪙

1/

first grab yourself some greentea on the rocks with fresh ginger to stay calm and energetic, this'll be rough!🤠

*💸sale*
the kanaria birds were minted as eggs & put to a seedsale (except a handfull), with a few, mostly superfounders and founders gone in a half price pre-seed.

🥚eggs vs tokens 🪙
the #kanarias were sold as eggs. holders of eggs until a snapshotdate got a fairdrop of the $RMRK tokens.

A total of 9999 bird-eggs were on sale, fairdropping -in theory- all (ALL!!!) $RMRK tokens too, if sold.

No team, reserve, treasury, ecosystem. 🤤😵

*egg/birdtypes relation to BirdUnits (BU)*
there are four different types of birds/eggs. each gave a different amount of $RMRK in the fairdrop, relative to the selling price. but calculating BirdUnits will be important for the birdonomics📊...

...the four types | price | token | units:

Limited Edition | 2 KSM | ~430 $RMRK | 1 BU
Rare | 20 KSM | ~4300 $RMRK | 10 BU
Founder | 100 KSM | ~21500 $RMRK | 50 BU
Super Founder | 150 KSM | ~32250 $RMRK | 75 BU

-> no whale discount!🐳

advantages were given in rarity, gems, emotions needed for effect and gems #njordson

BUT 0% XTRA TOKENS!

@RmrkApp did the best anti-whaling policy I've ever seen. You got the same amount of tokens for your $KSM, no matter if you invested in 10 LE birds or a rare, if 1 or 1kKSM

so how does it look like overall now? let's look at the birds and their BirdUnits.

9000 LE birds -> 9000 BU
900 Rare -> 9000 BU
90 Founder -> 4500 BU
9 Superfounder>1350 BU

The 10mio $RMRK were fairdroped to 23850 BirdUnits in 9999 Birds. In theory, not all were sold.

This is a good thing, that way the team got at least some liquidity on RMRK which is essential. as much more eggs were sold than expected the community was thinking about donating liquidity, but in the end the team had about 11% tokens left. the unsold birdeggs were burned.

let's look at the tokenomics today:

5% locked with 1y cliff and 1y vesting for the team. important that the team has something to work for! at least a minimum that's a good thing

liquidity for exchanges took away more than half of what was available

88% community. AND whales..

this isn't a story without whales. but it's one with two happy ends. let's check the whales and what happend.

if you got names like @Signum_Capital you will attract OGs and create trust. the problem with the whales is that they get most of the cake for 10% of the price. normaly.

what happend with #kanaria is that the @RmrkApp team didn't change the sale prices.

the whales had to get in WITH the community.

unheard epic move.

this alone is so fundamental for a community centric start but also has a lot of effect until today.

some of the whales didn't want their birdeggs (to difficult?) so they left them for the team. that's the main reason why the team has a treasury of more than 2500 birds, which are so important for community building. does that mean one whale has 20% of all coins? nope, check it:

this is the treasury, most are LE, 75 Rares so in BirdUnits about 3250 or ~13% of all birds
kanaria.rmrk.app/nest/GveNXASQf…

if you look at some of the other whales, they are smaller in birdnumbers and in BirdUnits
kanaria.rmrk.app/nest/HUhPoB6xV…
(it might be a normal buyer but I think whale)

🐳so yes there are whales, but no, they didn' get in for special conditions as usual and they don't have 70% of the cake. most is in community hands, so we are not in danger of powerdumps below the entry price for the community. thank you for this move @bitfalls !

now it's clear why rare #kanarias are so expensive these days - they are worth 10x a LE seen from BirdUnits. and if the first airdrops/metaverse are comming, i bet the rares get 10x as a LE. at least it would be the logic from the start.

🧐got questions? want more? answer :)