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Dear Bankless Nation,
Bankless Apparel is here.
Season 0 goes live when this post is 1 hour old.
We’ve created a way for you to wear Ethereum. This is gonna be fun.
p.s. if ultra legendary scarce swag isn’t your thing—don’t worry we’ll be launching a regular Bankless merch shop soon—stay tuned. 🏴
Bankless Apparel Campaign, Season 0 🚀
I often speak of Ethereum as a physical landscape; a 3-D place where the DeFi structure lives and grows.
Season 0 offers this metaphor in a tee-shirt!
“ETHSCAPE” Season 0 shirt
SOTN to see Ryan & David Explain $BAPs
We just released episode 8 of SOTN—all about the magic YFI token….
📺 Watch State of the Nation #8: PUMPED – w/ $BAPS
$BAPs! (ETHERSCAPE SHIRTS, ETH2 COMING, BULL MARKET MENTALITY)
No more than 50 will ever exist.
Total Supply: 50 BAP0s
Pre-issuance: 2 BAP0s (David + Ryans BAP0)
Liquidity Market: Uniswap
Supplied: 48 ETH / 48 BAP0
Uniswap exchange: BAP0-Uniswap Etherscan
Phase 1: Initial Liquidity
BAP0s will initially sell at Uniswap market rate starting at 1 ETH per BAP0. After 23 of the 48 BAP0s are sold we’ll move to Phase 2. The 23rd BAP will sell for approximately 5 ETH according to the Uni-AMM.
PHASE 2: Liquidity Adjustments
After the 23rd BAP is sold, we plan to withdraw 50% of the Uniswap liquidity for BAP0, and begin selling the withdrawn BAP0s into Uniswap to maintain a price of 5 ETH or less. If the price of BAP0 exceeds 5 ETH, we will continuously withdraw and sell BAP0s until there is no more available on Uniswap and all the available BAP0s are in people Ethereum wallets to be redeemed or resold back to Uniswap.
This two-phase system ensures that the price curve for the BAP0 tokens remains as shallow as possible, and only increases in steepness once the tokens are fully distributed.
Uniswap will be seeded with BAPs and liquidity when this post is 1 hour old.
How to Buy
1 BAP0 is redeemable for 1 Ethscape shirt
In order to redeem 1 shirt, you must purchase a BAP0 from Uniswap, and BURN it. You can burn the BAP0 by sending it to the genesis address of Ethereum:
Some wallets do not let you send it to the genesis address. Replacing the last 0 with a 1 also works:
Sending to the Parity Multisig address also works 😈
Email this transaction to firstname.lastname@example.org, along with your shipping address and shirt size and we will coordinate the delivery of your Season 0 shirt! We’ll ask for additional confirmation transaction in response to this email.
If you want to be one of the 50 people with the Genesis Season BAP….
Check the timestamp. The market gets liquidity when this post is 1 hour old. Be ready. 🚀
Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. I’ll always disclose when this is the case.