Introduction: $KARMA Token
Elevating OCM’s Journey
The OnChainMonkey (OCM) community is poised to introduce a defining element to the digital asset landscape: the $KARMA token. More than just a cryptocurrency, $KARMA is a strategic initiative, meticulously crafted to enhance the OCM brand and galvanize its vibrant community.
$KARMA Token: A Strategic Beacon for OCM’s Mission
Guided by our RISE! Values, the launch of $KARMA is a deliberate move to amplify the voice of OCM and draw the market’s gaze to its innovative platform. This introduction serves as a briefing on the potential of $KARMA to act as a dynamic marketing instrument, central to OCM’s growth strategy.
Insight into $KARMA’s Tokenomics: Laying the Foundation for Growth
At the core of $KARMA’s introduction are its tokenomics, designed to align with OCM’s long-term vision:
- Airdrop Allocation: A substantial 70% of the total supply, amounting to 700 million $KARMA tokens, is earmarked for airdrop to the OCM and the $TRAC & $PIPE communities, ensuring a robust initial distribution.
- Token Swap Incentive: 20% of the supply is reserved for a token swap, connecting $TRAC holders to the $KARMA vision and fostering a new nexus between these communities.
- Community Treasury: A strategic reserve of 10% bolsters the community treasury, intended for initiatives that will support the growth of the overall ecosystem.
An Introduction to OnChainMonkey NFT Holders’ Privileges
A pivotal aspect of $KARMA’s introduction is the preferential treatment for OnChainMonkey NFT holders, who will receive a significant portion of the airdropped tokens in recognition of their ongoing commitment to the project.
Setting the Stage for a Strategic Rollout
This briefing outlines the initial steps of a comprehensive strategy, with the $KARMA token at its heart. Designed as a key marketing tool, $KARMA is set to unfold OCM’s narrative and expand its reach within the blockchain space.
$KARMA: The Prologue to Community-Driven Success
After launch, we invite the community and prospective stakeholders to ready themselves for an exciting journey. With $KARMA, the OCM community is not just introducing a token but ushering in an era of community-driven achievement and project visibility. Join us as we embark on this transformative venture.
$KARMA Token Distribution and Eligibility Criteria
There will be a total supply of 1 billion $KARMA tokens, of which 70% will be airdropped to eligible addresses. 20% of the total supply will be available in a token swap for $TRAC token holders, and 10% will be reserved in a community treasury, to be used for ecosystem growth.
OnChainMonkey holders
A total of 560 million $KARMA tokens will be allocated to holders of OnChainMonkey NFTs
- Each Celestial NFT will receive 1 million $KARMA tokens
- Each Dimensions 300 NFT will receive 135,000 $KARMA tokens
- Each Genesis NFT will receive 40,950 $KARMA tokens
- Each Karma 1 and Karma 2 NFT will receive 4,500 $KARMA tokens
Only assets migrated to Bitcoin will be entitled to the airdrop. For Karma holders, tokens will be reserved and a separate airdrop will be made following the migration from Ethereum to Bitcoin. Genesis holders are encouraged to migrate to Bitcoin when the portal reopens on January 24 to receive the airdrop.
Holders of revealed celestials will receive the airdrop to the same bitcoin address used in the Genesis teleburn smart contract. For holders of unrevealed celestials, tokens will be reserved for a future airdrop.
$TRAC token holders
A total of 112 million $KARMA tokens will be allocated to holders of $TRAC
- 5.33 $KARMA tokens will be airdropped for every $TRAC token held
- Snapshot date for $TRAC holders will be announced at a later date
$PIPE token holders
A total of 28 million $KARMA tokens will be allocated to holders of $PIPE
- 1.33 $KARMA tokens will be airdropped for every $PIPE token held
- Snapshot date for $TRAC holders will be announced at a later date
Token Swap for $TRAC holders
A total of 200 million $KARMA tokens will be allocated for the token swap raising 500,000 $TRAC for the community treasury.
- $TRAC token holders will be entitled to swap their $TRAC tokens for $KARMA tokens at a ratio of 1 $TRAC = 400 $KARMA
- The token swap will be available on a first come first served basis once the token swap window goes live
Community Treasury
A total of 100 million $KARMA tokens plus up to 500,000 $TRAC tokens will be reserved in the community treasury.
The $KARMA team strongly believes in the vision of Tap Protocol and the importance of building a decentralized indexer. 500,000 $TRAC tokens raised from the token swap will not be sold and will be staked on Trac Core to validate the network on Tap Protocol.
$KARMA Council
$KARMA is a token launched by a seven-member council, including four representatives from the OCM community: Soldman Gachs (@DrSoldmanGachs), Fitzy (@fitzyOG), Rabbi (@RabbiGains), and Drheref (@DrHeref). They are joined by BennyTheDev (@rarity_garden) and Alex Philippine (@Skrylabs) from Tap Protocol, bringing their technical expertise. Rounding out the group is Jason Fang (@JasonSoraVC) from Sora Ventures.
OnChainMonkey
OnChainMonkey is the first non-fungible token (NFT) profile picture collection created on-chain in a single transaction on Ethereum. Recently OnChainMonkey marked history again, becoming the first 10k PFP NFT collection inscribed on Bitcoin in a single inscription. The collection of 10,000 randomly generated NFTs is led by an experienced team, including Danny Yang, who founded Taiwan’s largest cryptocurrency exchange; Amanda Terry, who served as a digital media business development executive at Twitter and NBC; and Bill Tai, a legendary venture capitalist who was the first investor in Zoom and early investor in Canva, Dapper Labs as well as over 20 companies that have become publicly listed. The OnChainMonkey community is building businesses in Web3 and aims to “do well and do good,” creating value for token holders and promoting social good.
For more detailed information, you can visit their website at www.onchainmonkey.com or on X at https://twitter.com/OnChainMonkey.
TRAC, TAP, PIPE (TTP)
Trac is a protocol designed to enable decentralized tracking of Ordinals metaprotocols on Bitcoin. It addresses the centralization issue in current metaprotocol trackers by offering a decentralized network that anyone can connect to, use, and benefit from. The protocol has tracked over 55 million transactions and is part of an ecosystem that includes innovative blockchain technology products like Trac Core, Tap Protocol, and Pipe. This approach aligns with the decentralized ethos of cryptocurrencies like Bitcoin.
For more detailed information, you can visit their website at https://trac.network/ and twitter at https://twitter.com/trac_btc.
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