Season 2 of Silly Snakes will start minting on January 26th at 20:00 UTC. To follow updates about the project, you can follow Silly Snakes on Twitter, visit our site, or join the Discord.
Silly DAO is a DAO built upon the Cardano blockchain that purchases and fractionalizes abstract and generative art NFTs across blockchains. NFTs owned by Silly DAO will be available for all members to enjoy and use as they see fit.
We have elected to build on Cardano due to the decentralization of the blockchain as well as the vast talent pool within the Cardano community. The Cardano blockchain was also selected for it’s accessibility — it is not throttled by high gas fees and mint prices for CNFTs are affordable when compared to NFT mints on other blockchains. One of our aims is to make the Silly DAO accessible to as many Cardano users as possible.
Silly Snakes CNFT
Silly Snakes are generative snakes living on the Cardano blockchain. Silly Snakes come in many bright colors, and aim to celebrate the snakes that live across the world.
There will be seven Silly Snakes CNFT seasons. Season 1 started minting at the end of October 2021 and consists of 500 snakes. Seasons 2–7 will each consist of 1,000 snakes each. Users who hold either a season 1 or 2 Silly Snake will be considered founding members of the DAO.
Individuals who mint a Silly Snake will be rewarded with benefits in the DAO. Founding members will have early access to future mints and be eligible to receive airdrops. All Silly Snakes will serve as governance tokens. This allows Silly Snake holders to vote and make proposals in the DAO. Each Silly Snake held by a member will grant that member 1 vote. 5 Silly Snakes held equals 5 votes.
All Silly Snake holders will have the right to make proposals to the rest of the community, such as buying or selling a DAO owned NFT or creating new projects.
Income from the Silly Snake mints will be distributed as follows:
25 % to the development team
75 % to the Silly DAO treasury
Seasons 2–7 of Silly Snakes will also have a 5% royalties on secondary sales. These funds will be 100% distributed to the Silly DAO treasury.
Silly Snakes Extras
There will be some extra Silly Snake pieces available to mint celebrating holidays and major blockchain events. These will each be cheap mints intended to be just for fun. These tokens will not serve as governance tokens in the future. Funds from these mints will go to a Silly DAO project betterment fund.
Silly DAO Native Token
The Silly DAO will work to create a native token to be made available to the community around late Q2 or early Q3 2022. When this token becomes available, Silly Snake holders will be airdropped tokens. In addition, snake holders will be given the opportunity to stake their snakes to earn additional tokens. The APY is undetermined at this time, and will be announced as soon as the staking mechanism has been finalized.
Non-Silly Snake holders will have the opportunity to purchase Silly DAO tokens through decentralized exchanges such as Sundae Swap and Muesli Swap. These fungible tokens will also serve as DAO governance tokens.
The proposed initial token distribution is as follows:
5% airdropped to founding Silly DAO members
5% to the development team
10% airdropped to Silly Snake Holders
30% Silly Snake staking rewards
30% to the Silly DAO treasury
20% to community grants
Later articles will be released as project development continues. The current focus at the moment is community building as well as preparing the season 2 snakes for launch. We are aiming to start minting the season 2 snakes at the end of January.
After the season 2 launch, the development focus will shift towards the creation of the Silly DAO native token. We aim to have finalized tokenomics available by the end of February and begin the first token airdrop to Silly Snake holders.