💸MATIC distribution
How we will utilize the MATIC
The daily 7% withdrawal is to ensure Degen or Bust will sustain for many cycles to come (*daily withdrawal percentage is subject to change). These fees will also contribute towards further improvements to DoB, marketing purposes & future benefits to our holders.
Every 24 hrs we will take out 7% of the current pool amount, this will happen right after the LMF, SLMF get their payouts. After the 7% has been extracted, we will call the "request random words" function on the contract, this functions triggers Chainlink VRF to draw the winning numbers for the day's Lottery. If we have a 👑The Ultimate Degen winner or winners, they will get the remainder of the MATIC in the pool promptly after.
Here's how that 7% will be dispersed:
We will set aside MATIC each day that will be used to jump start the lottery game if it ever comes to a point where the prize pool money isn't attractive enough to attract players to play. This shouldn't ever happen, but this fund will be a safety net if that situation ever occurs.
This is how the team is rewarded for their continuous work on the project, ensuring that the project is operational for years to come. This will also help cover hosting fees for the website etc.
To ensure we have a steady stream of new players playing our Lottery, we will designate a budget towards ongoing marketing. This aims to help everyone as more players means more MATIC in the pot to be won by our daily winners, as well as the lucky person(s) who wins the Jackpot!
The purpose of the DAO's Treasury fund is to be used to host private raffles for the Degen NFT holders. What happens with the DAO's funds is to be decided on by the Degen NFT holders. If you wish to be apart of the Degen DAO and make proposals and governance, you must own a Degen NFT.
The purpose of the Legal Team's percentage is to ensure we're protected at all times, we want to ensure we are always operating within the confines of the law at all times.
Sustainability
40%
Team
30%
Marketing
15%
Degen DAO's Treasury
10%
Legal Team
5%
Multi-Sig Vault Signers
Degen Or Bust vaults are guarded by a 2 of 3 multi-sig via safe.global. This means any transaction, no matter how big or small must be approved by a total of 2 signers, we have 3 signers in total. The security of the assets is protected from a single actor going rogue because it takes a quorum of 2 to authorize any transaction that occurs.
The following are the safe signers:
Diggsiii
Founder
vault.diggsiii.eth
Ophidian
Developer
To be added
btwnuni
Artist
To be added
Disclaimer and Vaults
All Degen Or Bust multi-sig financial storage contracts are created via safe.global, giving the project complete self custody and immense security over its financial capital.
Below are the transparent contract addresses for all Degen Or Bust multi-sig vaults:
Pool Holdings
Holdings.DegenOrBust.eth
Ethereum
TUD Winner Holdings
TUD.DegenOrBust.eth
Ethereum
SLMF Winner Holdings
SLMF.DegenOrBust.eth
Ethereum
LMF Winner Holdings
LMF.DegenOrBust.eth
Ethereum
Degen DAO
DAO.DegenOrBust.eth
Ethereum
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