TL;DR,
- D33D is a decentralized Metapoly protocol token used on Metapoly ecosystem,
- Governance and utility token for Metapoly ecosystem. “own the D33D, rule the Metaverse”
- Protocol fees are shared with D33D stakers to incentivize long term HODLers.
Defi 2.0 has championed the idea of a new type of model that is revolutionary; protocol-owned-liquidity and protocol-controlled-value.
Metapoly takes this further. All D33D tokens are backed by Metaverse assets (land, liquidity, yield, LP tokens). The vision is to enable more Metaverse protocols and platforms to join Metapoly’s ecosystem.
What is D33D governance token?
Overview, let’s start by identifying what is governance token and how it is used in the DeFi ecosystem, shall we?
Governance tokens are tokens that developers create to allow token holders to help shape the future of a protocol. Governance token holders can influence decisions concerning the project such as proposing or deciding on new feature proposals and even changing the governance system itself.
In many cases, the changes proposed, vetted and then voted on through on-chain governance accessed by using governance tokens are applied automatically due to smart contracts.
Proponents of systems that use governance tokens believe that they allow for user control, which holds true to the original cryptocurrency ideals of decentralization and democratization. In most cases, organizations who let users control the development of their systems are called decentralized autonomous organizations (DAOs).
One well-known example of a governance token is Maker (MKR). This token allows its holders to vote on decisions pertaining to the decentralized finance (DeFi) protocol that the decentralized stablecoin DAI runs on.
For example, MKR holders can vote to change the complex economic rules that govern the decentralized lending that allows DAI to keep its price stable.
Why does it mean “own the D33D, rule the Metaverse”?
Let’s step back and ask ourselves this question, would you wants to own that piece of the land or owns the land-bank that governs that land? Smart investors know that assets utilization and cash-flow with yield are smart investments.
This is how it works in the Metapoly protocol.
- Metapoly treasury buys assets (metaverse lands, LP-tokens and stablecoins) from the open market by offering floor price + premium to the sellers.
- Sellers (the landowners), get the D33D governance token at a discount. He/she/they/it gets the D33D token in 5 days from the treasury smart contract.
- Sellers can stake it into the staking contract to get even more D33D using the profits and fees from the treasury’s assets and liquidity. All D33D tokens are backed.
- D33D token stakers (vD33D) are participants for the Metapoly DAO for decentralized and democratized decision making. Effectively, governing the Metapoly metaverse ecosystem.
Hence, “own the D33D, rule the metaverse”!
What is D33D token utility?
- Borrowing and lending. LP tokens and Metaverse NFT assets could be deposited as collateral to be used for borrowing. Imagine that you would be able to provide liquidity as LP (D33D/USDC), lend it as collateral and borrow liquidity to further amplify your portfolio profitability by acquiring more D33D for staking!
- Gamification with membership NFT. Mint Guardian NFTs. This includes multiplier on governance voting rights, referral commission, profit share and fees distribution.
- Metaverse NFT marketplace. Metaverse landowners could bring their lands to buy/sell and the trading fees would be shared with token stakers.
- Fractional ownership. Metaverse landowners could fractionalize their Metaverse land assets to the Metapoly community. Imagine a premium land on Sandbox, would you be interested to co-own these lands together with the D33D community? I know I would! Micro-ownership of Metaverse assets for the citizens.
Protocol Fees sharing with D33D token holders
As demonstrated in the recent successful DeFi protocols, 1 of the key to ensure stability in token price is unlocking protocol fees sharing with token stakers. There are 2 approaches we will be implementing in the near future:
- Fees sharing with vD33D and vNFT stakers
- Token buyback with protocol profit
For more details, please refer to: https://metapoly.medium.com/d33d-token-use-cases-3bedaecf435a
What is asset-backed and how is it different from pegged?
All D33D token are minted and backed by the treasury’s profit. No one can mint D33D from thin air, thus, preserving its value.
Each D33D is backed by a value of Metaverse land NFT. Because the treasury backs every D33D with tradeable metaverse assets, the protocol would buy back and burn D33D when it trades below the treasury value. This has the effect of pushing D33D price back up.
All D33D that is staked generates yield. All of these yield comes from treasury’s growth.
Metapoly treasury owns all the Metaverse assets and value that is controlled by the DAO. Using the same mechanism, these are the benefits:
- Owned Metaverse: All Metaverse lands and Metaverse LP tokens are yield generating assets
- Asset-backed: D33D tokens are backed by Metapoly treasury’s POM.
- Yield generation: All Metaverse assets, liquidity tokens, and own-liquidity pairs produce yield through the trading volume.
What is the benefit for D33D holders?
D33D token holders would participate in the Metapoly protocol and ecosystem. D33D holders could discuss, ideate, propose and vote.
As the influence and adoption of D33D grows, where more Metaverse protocols integrate with the Metapoly ecosystem and use D33D & USM as their currency, each D33D will grow in value.
Join us to understand more on this movement.
Gitbook FAQ: https://metapoly-team.gitbook.io/doc/
Github: https://github.com/metapolyorg
Discord: https://discord.gg/BxctC7ExgA
Twitter: https://twitter.com/metapolyorg
Medium: https://metapoly.medium.com/
