The Babenas of Kadena
Preface: A Bull Case for Kadena NFTs
How early are we, exactly?
As of this writing, the Kadena NFT space is pre-market. But a whisper of a dream, we are early even in the world of cryptocurrencies. Yet, it feels like we have been through so much already.
As of September 2021, roughly ~90% of adult Americans have heard of Bitcoin, and only 22% of Americans, roughly ~46 million people, have ever bought or held Bitcoin.
Why are we talking about Bitcoin? Well, it all starts with BTC, but let’s take a look at a few additional statistics from Q4 2021 to give us some perspective:
- ~106 Million Bitcoin Users Worldwide
- ~12 Million Ethereum users
- ~1 million Solana users
- ~21,000 Kadena Users
- ~300,000 Eth NFT users
- ~50,000 Sol NFT users
- 0 Kadena NFT users
If you think you’ve ‘missed’ anything: think again. Less than 0.5% of crypto users have interacted with NFTs. Let alone Kadena NFTs, where we are pioneering the use of Marmalade standards. Kadena, the only layer1 blockchain that scales, has been building in silence for years, and we are excited to be building on the proof-of-work blockchain we see as the future of a decentralized web3 enabled world.
Marmalade because of the low gas fees, because of 100% on-chain transactions, because of high-quality provenance and superior custody, because we can make our own policies and, most importantly, because it is on Kadena — the only scalable, decentralized and secure blockchain.
We believe there will be thousands of use-cases for NFTs which we can barely begin to imagine.
One thing we can clearly imagine: the pivotal role Babena will play when these use cases are executed on Kadena.
Babenas are the Builders
We forge forward — and will do so together.
We have mining experience. Coding experience. Investment experience. Design experience. More and more talent is attracted to this community, and this is just the miraculous progress so far — without any NFT sales or a working market!
At Babena we firmly believe that if we build it, they will come.
We are pleased to present, our vision for Babena:
Stage 1: Launch
- Community formation: comic creation, song releases, giveaways & competitions
- Social media coverage and releases
- Babenas are launching our own sale page, using marmalade contract (KIP-0013), and aim to be the flagship project to launch on Kadena.
Stage 2: Initial Utility
- Staking: we have established partnerships that will allow us to offer Babena NFT Staking. Staking will be released extremely soon after mint.
- Chainbabes NFT collection: Chainbabes are the titillating sirens of Kadena. Each kadena chain will have its own unique Chainbabe, which will be auctioned on our site.
- Marketplace: we will begin work on our in-house, Babena marketplace. Please note: staking is priority 1, and marketplace priority 2. This will take us some time. External platforms, like OpenSea or MagicEden, charge a platform fee (separate from royalties) for each transaction. Our team at Babena will remove the need for these external fees, and charge 0% platform fees for trading. There will be separate 10% royalties on all Babena sales, which will fund stages 3 & 4.
Stage 3: Merchandising & Partnerships
- Exclusive virtual and IRL drops for verified Babenas.
- Launching Kadena & Babena merch shop soon! All initial designs can be found at our official merch store linked below and on our discord. This is just the beginning of what we plan to do with merchandising.
- The team has begun exploring potential collaboration opportunities with celebrities, artists, designers, and charities.
Stage 4: BabeDAO
- 10% income of initial Babena NFT, 10% of secondary market royalties, 90% of all chainbabe auctions, 50% of merchandising profits — these are just the initial revenue streams we have created for BabeDAO.
- After the mint, additional 10,000 KDA will be locked in Babena.finance. All $BABE earned from locking on Babena.finance will be donated to BabeDAO.
BabeDAO will be controlled by a multi-signature wallet for the purpose of sustainable venture-philanthropy. The revenues collected by BabeDAO will be utilized in Kadena ecosystem investment: DeFi, NFT incubators, and other capital-efficient proposals. Profits from these investments will be reinvested into the ecosystem, and donated to worthy ventures, as decided by BabeDAO community policy process:
- There will be weekly fireside chats to foster transparency and facilitate engagement with members of BabeDAO.
When joining BabeDAO, members are not expected to provide monetary donations. Members are expected to contribute to the level they feel comfortable, and will be exalted within BabeDAO proportionate to their contributions.
There are 4 initial roles within the DAO, outlined below. Any user can enter the DAO and receive the role of “Babenian”, but further role advancements will require merit-based community nominations, and voting.
- Role 1: Babenian — Babenians are members who have a Babena and have the DAO’s best interests at heart. Babenians are here to enjoy being part of the ecosystem and community, and can contribute to the system in whatever beneficial way they feel. Babenians can proactively work on tasks from the #white-board, can engage with project leads they are intrigued by, or take a leap and work on an initiative of their own to bring forward for the DAO.
- Role 2: Boobenian — Boobenians have been recognized by the community. These individuals have traits that are deemed admirable. They are exceptional babena that stand out. Boobenians will have the authority to establish initiatives and working groups within BabeDAO. For example: financial analysis & project vetting could be a working group. Marketing. Merch. 3d modeling & graphic design. All these are just examples of easily conceivable working groups.
- After crafting a working-group proposal, Boobenians will be able to nominate members of the community that they feel are value-adds to take on a role in their specific working group. We aim to create an infrastructure of decentralized trust, to ensure that qualified users are running the DAO through a process of transparent community vetting.
- Role 3: Baboonian — The third, and final formal role for this system comes in the form of Baboonians. Baboonians formally submit proposals for voting, create white board assignments, develop strategic partnerships, and are integral forces in BabeDAO. These are the world-builders, the visionaries, the ecosystem stewards that we need and that have proven themselves to the community. All-stars will collectively run BabeDAO, and work to make our vision of venture-philanthropy a reality.
- Role 4: Babendos — The BabeDAO core team will start with the role of “Babendos”. This role is basically the same as Baboonian, but will initially have a strong, hands-on presence during the formative process of BabeDAO. The goal of the core team of Babendos is to progressively decentralize. Over time the Babendos role will be diminished as working groups gain sustainable autonomy, and the Babendos will transition to Baboonians. This vision is all done in the pursuit of empowering the community to run BabeDAO’s venture-philanthropy endeavors in an effective, democratic fashion.
- 90% of DAO wallet is utilized for venture-philanthropy, 10% will go towards salaries for Babendos and working groups.
- DAO initially plans to provide Babena.finance deposits and Kaddex LP where decided by Babendos
- Monthly profits are contributed to worthy causes, as decided by DAO. If there are no profits in a monthly period, the DAO will focus on profitability initiatives to refuel our philanthropic war chest, and re-allocate once we are above the equity level of our prior contribution. This process is essential to the longevity of BabeDAO.
We look forward to having you all come on this journey with us!
Stay tuned for more information.
Mint Quantity: 5,000
Mint Price: TBD
Feel free to reach out, you can add us anytime on discord!