Understanding the WHEXcosystem DAO, WHEXy Whales NFTs, and Whale Exploder DeFi Token
WHEXcosystem DAO ($WEED)
The WHEXcosystem DAO (Decentralized Autonomous Organization) is the governance mechanism for the entire ecosystem. It is powered by the $WEED token and allows token holders to participate in decision-making processes via blockchain voting.
Key Information about the $WEED Token:
– Network: Binance Smart Chain
– Address: 0x64235611f7D0BfCbBd079e0Ff1824466e697dCf5
– Symbol: $WEED
– Decimals: 18
– Staking: Coming soon
– Initial Supply: 1,000,000 WHEXDAO
Token Distribution:
– Private Sales: 35,000
– Airdrop to WHEXy Whales 1-2000: 83,330
– Split Presale – Burn WHEX option: 15,922
– Flash Sales: 4,282
– Airdrop for minting WHEXy whales 2001-4800 (41.665 each): 116,662
– Token Sale (buy with whex): 279, 796
– Pancake Swap (WEED/USDT): 100,000 (12,982 so far)
– Airdrop to WHEX holders (on completion of split presale): 100,000
– WEED Reserve: 170,000
– Staking Rewards: 95,008
Voting Mechanism:
Token holders can vote without sending tokens to addresses using a dApp hosted at [https://snapshot.org/#/whexy.eth]. Decisions will be carried out by the WHEXcosystem team and must have at least 51% of the total $WEED used to vote. Voting is allowed on the $WEED tokenomics, DAO Treasury funds usage, and $WHEX charity/burn wallet.
**Note:** CEO Peter Wake retains the right to veto any decision or choose not to run a vote on questions presented by the community.
WHEXy Whales NFTs
WHEXy Whales is a collection of 4,800 unique NFTs featuring whales with various traits such as hats, glasses, shirts, and backgrounds. The NFTs serve multiple purposes in the WHEXcosystem.
Minting and Royalties:
– Mint Link: https://app.niftykit.com/drops/whexy
– 25% of minting proceeds and royalties go to whale conservation charities
– 25% are used to buy WHEX for $WEED staking pools
– 25% are allocated to marketing and administrative costs
– 25% are designated as founder pay
Benefits of Minting a WHEXy Whale:
1. Support real-life whale conservation
2. Receive airdropped WHEXcosystem DAO ($WEED) tokens and participate in project governance
3. Gain access to a custom ENS subdomain of WHEXy.eth
4. Join exclusive Discord and Telegram chats
5. Use WHEXy whales for company or merch store purposes, or partner with WHEXcosystem Inc. and share profits
Expert Insights on Token Explorer Data ($WEED)
Based on the provided data, the WEED token has a total supply of 1,000,000 tokens and a market cap of $5,263, which includes locked tokens but excludes burned tokens. The token is traded on BabyDogeSwap and PancakeSwap v2 with the following LP holdings:
– BabyDogeSwap | WEED/USDT: 117.16 USDT ($117)
– Pc v2 | WEED/USDT: 96.59 USDT ($96)
– Pc v2 | WEED/Cake: 0.00 Cake ($0)
The token has a total of 916 addresses holding it and has had 3,301 transfers. The top 10 holders of the token are currently as follows:
- 31.6592% – 0x188f92acd1a82b54ce713cafa8e8217c1089230c
- 20.3465% – 0x0d7079098c8feb4f4aef40703ce83ecc704f371d
- 4.9470% – 0x5f841f815d8a448ca39bbd390224b0f0d61eed5e
- 4.8500% – 0x10d0d4f32d0209d15d036dc4daf13d1c601d3b65
- 4.4748% – 0x501cb790dad67a3eee19f51a492d28c84d99d6ca
- 4.0811% – Null: 0x000…000
- 2.1340% – 0xa9b71746d9277c84ad792f1a7fbb800ddda186c3
- 1.7624% – PancakeSwap V2: BSC-USD-WEED 5
- 1.7592% – 0x334fe2c1b0598c34e0c61dbf7a53592fc31f3a4e
- . 1.4820% – 0x0d832a79f3fdd5f63055a9b40bd5d7c6a4de137e
This gives an insight into the distribution of the WEED token, with the top two holders controlling a combined 52.0057% of the total supply. The remaining holders in the top 50 have much smaller percentages, ranging from 4.9470% down to 0.0702%.
In the early stages of a cryptocurrency project, it is common for founders and the project team to hold a significant portion of the total token supply. This is done for strategic fund allocation and to ensure the project’s long-term success. By retaining control over a large number of tokens, the founders can efficiently allocate resources and make strategic decisions that will benefit the project and its community.
Holding a significant portion of the tokens allows the founders to:
Fund the project’s development: As the project evolves and expands, financial resources are required to cover operational costs, pay developers, hire marketing experts, and more. By holding a large share of the tokens, founders can use the proceeds from their sale to finance these expenses.
Incentivize early adopters and partners: To build a strong community and network, projects often need to incentivize early adopters, users, and strategic partners. By allocating a portion of the tokens to these stakeholders, founders can encourage their participation and support.
Maintain control and stability: Retaining a significant percentage of the token supply allows the founders to maintain control over the project’s direction and make decisions that protect the interests of the token holders. This ensures that the project remains focused on its vision and goals.
Distribute tokens through various mechanisms: Founders may choose to distribute tokens through airdrops, staking rewards, or other methods that benefit the ecosystem and create value for the project.
Facilitate governance and decision-making: In some projects, token holders can participate in governance decisions by voting on proposals or changes to the protocol. Holding a large share of the tokens allows founders to influence these decisions and ensure that the project’s best interests are prioritized.
It is important to note that while holding a significant portion of the tokens can be beneficial for the project, it can also lead to concerns about centralization and token distribution. To mitigate these concerns, founders should be transparent about their token holdings and the rationale behind their allocation strategies. This will build trust and credibility with the community and ensure the project’s long-term success.
Disclaimer: The information provided in our news articles is for educational and informational purposes only and should not be construed as financial advice or investment recommendations. We do not provide any financial advice, and all our news articles are based upon shared events and information that we found on the internet. We strongly encourage you to conduct your own research and consult with a financial advisor before making any investment decisions. Investing in cryptocurrencies or other financial instruments carries risks, and you should be aware of the potential for loss of your investment.
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