What is Solciety and how does it work?
Solciety is a Solana-based collection of 6.999,9 anime-themed characters called ‘Solmates’ that aims to send a message of love and respect to the NFT industry. The team has already minted 1.444,4 Solmates in their collection, which were already sold out, and anyone who missed that first mint can now acquire these Genesis characters on MagicEden.
The remaining 5.555,5 characters will be drawn by the team each week over a period of 26 weeks or so. The team will also soon introduce ‘Mating Games’, which will finally infuse play-to-win features into the Solciety universe. When it comes to exclusivity, owners and potential buyers can rest assured that each of the 6K+ Solmates is completely unique. The team has implemented code that ensures that two Solmates can never share the same resource, and will soon publish their tool to allow the community to fully analyze character trait distribution.
Where to buy Solmates
The mint of 1.444,4 Solmates is now 100% sold out. You can still buy Solmates from Magic Eden, a secondary market. The collection can be found here: https://magiceden.io/marketplace/the_solciety
Solciety’s story
In the year 2069, human civilization has already been wiped out, but luckily, two people named Madame and Steve managed to survive, making them the only survivors on post-apocalyptic Earth. Their main mission is to repopulate the world again with humans, or ‘evolved primates’ to be exact, and establish a new world called ‘The Solciety’.
NFT Sweepstakes ‘Rescue Program‘
- FARP Program – FARP or the “Find and Rescue Program” is the official name of the NFT weekly draw. NFT enthusiasts can “redeem” the new 5.555,5 Genesis Solmates by purchasing them and placing them in their care.
- FARRT Ticket – FARRT or ‘Find and Rescue Raffle Ticket’ is the ticket required to participate in the FARP redemption program and must be purchased with $CIETY tokens.
Solciety Allocations
Solciety will donate 30% of its proceeds to the American non-profit organization GiveWell, while the remaining 70% will go to the community treasury. A royalty of 6,9% will be implemented for all resellers, and 15% of this will go to GiveWell to help them continue and improve their charitable activities. To implement 100% transparency, Givewell will verify the amount donated as soon as 30% of mint proceeds are transferred to them. Additionally, cardholders can directly check GiveWell’s official Solana address to see if royalty donations are actually being sent to the charity.
GiveWell: A Closer Look
GiveWell is a non-profit organization and data-driven “recommendation platform” that ranks the best and most effective charities in the world. Determining the history of various charities can lead donors to trusted organizations that can efficiently manage donations for the good of society. With good souls willing to donate funds to worthy causes, GiveWell knows that looking for qualified organizations is a must to prevent dollars from being wasted.
CIETY Token
CIETY is Solciety’s utility token which has 3 main uses: the first is for the collection metaverse, the second is for blocking bets, and the third is for the ‘FARRT’ virtual raffle tickets. The token, which has a supply of 1 billion, can be won by holders by locking their Solmate NFTs between 1 day to 6 months. The longer holders wager their Solmate, the greater the rewards they can receive, further increasing their assets.
The system allocated 20% of the total token supply to the community treasury and 10% to the Solciety team. The remaining 70%, meanwhile, will be allocated to community rewards for the staking pool. In addition, $CIETY will have an issuance that will occur every 4 years, and its issuance rate will decrease linearly. And as an important reminder to holders, CIETY is only valuable (within) the Solciety ecosystem and cannot be exchanged for anything in the outside world.
stakelocking
Stakelocking is a mechanism that rewards users who can commit to long-term support for the platform and is a system originated from Curve Finance. Solciety adopted this concept by rewarding Tokens $CIETY to holders based on how long they blocked their Solmate NFTs. Tokens will not be automatically transferred to holders’ wallets; they can only receive their rewards when they claim them or when they withdraw their Solmate NFT. And since this feature is called ‘locking’ of participation, a Solmate is virtually locked and cannot be sold or transferred by holders during the lock-in period.
Final Thought
Solciety’s sweepstakes concept is an interesting idea from the team, and as it’s designed to take place every week, it can keep the community’s excitement fresh and fiery. Additionally, the stakelocking feature, derived from Curve Finance’s innovative protocol, encourages long-term holders regardless of the floor price. But what’s even more admirable about the project is its partnership with GiveWell, which will allow it to genuinely boost humanitarian efforts and various charitable activities through its NFT collection.
