Mint details
Phase 1 — OG / Private Sale:
Cost per bugNFT — $700 for Private, $750 for OG’s
In phase one, strategic partners, investors, and early community contributors (OGs) will have the opportunity to participate in an early round with exclusive benefits.
This first phase will take place in advance of the full minting event. This phase is intended as a “seed” round to raise initial funding for the development, marketing, and execution of the Bug Finance platform.
We have elected to open this “seed” round to our community of OGs rather than a strict private sale. Because this first phase is taking place in advance of the full platform launch and at a more early stage, we have structured this round with unique benefits to acknowledge the additional risk and opportunity cost presented.
The first 211 OG NFTs minted will form an exclusive “OG Bug Faction” with bragging rights and exclusive community membership.
Significantly discounted mint price with a breakeven cost upon launch of Bug Finance and $BUG token distribution.
Permanent bragging rights and role within the Bug Finance community. Following the ending of phase 1, the OG role will be closed forever.
Opportunity to contribute to the success of Bug Finance as an early supporter.
Users minting during this round will receive a receipt token for redemption during the formal minting round in Phase 2.
The OG Phase 1 minting event will take place on June 26, 2023. Please make a note and stay tuned into our communication feeds for more updates leading up to this date.
To qualify for OG status and become whitelisted for participation in this first phase of minting:
Participate in community events and Zealy quests!
Join us now and get involved to secure your OG spot for phase 1 minting!
Phase 2 — Whitelist & Public
Whitelist cost per bugNFT — $850 USDC
Following a successful Phase 1, Bug Finance will advance to a ready-for-launch state, during which time Phase 2 will take place shortly prior to the launch of the platform.
This round of minting will allow community members to participate and guarantee an opportunity to mint closer to the launch of the platform.
The whitelist allocation is available for Bug community members who are active and engaged in the success of the project. Individuals who promote awareness and contribute to the Bug community will be assigned whitelist roles in our Discord server for early participation in this phase 2 round of NFT minting.
Public Sale Cost per bugNFT — $925 USDC
Unsold NFTs after the Whitelist round will be available to the public on a first-come, first-served basis. If the bugNFTs are sold out during the whitelisted sale, there will be no public sale.
Any NFTs that remain unsold at the end of the public round will be permanently removed from the total supply. Consequently, the proportional share of revenue and BUG token airdrop for all bugNFT minters will increase, rewarding our early supporters with even greater value.
The Phase 2 — Whitelist and Public minting date is TBA. Stay tuned for more information following Phase 1.
Valuation Metrics
Considering the airdropped $BUG tokens upon launch and the split of swap fee revenue, potential return profiles for the Swarm NFT can be evaluated. While the value of the NFTs goes far beyond just these returns (utility, community, faction wars, etc.), we are sharing this information to help inform our community on why we’ve priced the NFTs as they are.
Firstly, the $BUG airdrop allocation to Swarm NFT minters is substantial and stands to cover most, if not all, of the minting cost upon launch of the platform:
OG Minting @ $750 / NFT:
OGs minting can expect to receive the equivalent of their full minting cost in BUG / veBUG upon launch (95%+). Based on the minting scenario, this airdropped BUG value can account for more than the minting cost itself, realizing an immediate return upon and shortly after the project launch.
Because our OGs are the early believers of the project, we feel this is a fair return to our earliest and strongest supporters.
Whitelist Minting @ $850 / NFT:
The whitelist minting cost is slightly higher at $850, reflecting a reduced risk and shortened time cost of money being closer to the launch date.
Even at this price, whitelist minters can expect the vast majority of their minting cost (84%+) returned strictly through the airdrop alone, and depending on the minting scenario this can be even more.
Again, as early supporters of Bug Finance, minters of the Swarm at this price tier are also very adequately rewarded through the airdrop alone. But of course, this is not the only benefit of the NFT.
Staking Revenue:
This calculation of expected staking APRs is based on a minting price of $750 at the OG price tier. As a decentralized exchange, Bug Finance’s main business model is driving trade volume through the platform, which will grow over time as the platform matures.
This revenue forecast factors in a 20% fee share for the 5M — 25M scenarios, a 15% fee share for 50M — 100M, and a 10% fee share at 250M. This reflects the growth of the protocol from early stage to mature and accounts for the share of fees scaling down over time.
Minters of the Swarm NFT will have the opportunity to stake and take a share of the trading fees in perpetuity, with revenues growing in line with the protocol altogether. This potential staking revenue is substantial with a base scenario of 51% APR and an upside into the hundreds of percent annually.
With the $BUG airdrop covering a majority portion of the minting cost, and generous revenues from swap fees with uncapped upside growth potential, The Swarm NFT minting offers a tremendous opportunity to early supporters of Bug Finance.
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