Cryptocurrency3 hours ago (Nov 24, 2021 11:00AM ET)
Cyclos and Solatars Announce The Launch of Solana NFT Collection “Le Cougar Clique”
Cyclos, the concentrated liquidity AMM on , is partnering with Solatars to launch Le Cougar Clique, a unique NFT drop tied to the CycloSwap DeFi platform.
Le Cougar Clique connects NFTs to DeFi through a “culling” mechanic that deflates the NFT supply to increase their scarcity. The deflation mechanism, called Cougarnomics, relies on CycloSwap platform revenue to burn the existing supply of Cougars. After the mint event, 25% of CycloSwap platform fees and 15% of Cougar sale royalties will be used every two weeks to “cull” the weakest Cougars. The platform will buy back the NFTs from the market and destroy them, thus reducing the supply of Cougars.
The liquidity connection for Cougars goes both ways. One quarter of the proceeds from Cougar royalties will be used to purchase CYS and stake it in liquidity pools, giving the Cougar Clique DAO agency over a portion of the CYS token supply.
Le Cougar Clique NFTs will be released in a batch of 10,000 Cougars, all hand drawn in collaboration with the Solatars team. The release is planned for early December through a minting event held on cyclos.io.
Cyclos is the first concentrated liquidity automated market maker on Solana. Utilizing this powerful concept pioneered by V3, Cyclos can support any type of pair from basic stablecoin-to-stablecoin swaps to highly exotic tokens. Building on the highly-scalable Solana platform enables CycloSwap liquidity providers to fine-tune their positions, offering much more precision and much cheaper active management compared to Uniswap V3.
“By linking the supply of Cougars with Cyclos, our aim is to create a virtuous cycle between the two products and their communities,”
says Jason O’Brian, co-founder of Cyclos.
“As the Cyclos ecosystem continues to expand, so too will the utility cases for the Cougars. Our intent behind founding the Cougar Den (the DAO behind the project) will be for the community to collaborate on developing future use cases together with the Cyclos team.”
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