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DeMons Document

DeMons

Decentralised Monsters (DeMons) are characters of the DeMon Metaverse that were created with a bang and have their own stories orbiting them, Decentralised Monsters (DeMons) are characters of the DeMons Metaverse that were created as a result of a big-bang like an explosion from the Zilliqa blockchain shards colliding into each other. The DeMons each have their own stories, lore and are a part of the Zilliqa Metaverse.
To allow each DeMons NFT holder ownership of a stake of the DeMons Metaverse, these NFTs are unleashed as NFTs that can generate yield in the form of DMZ tokens (the DeMons governance token), leveled up and traded in the marketplace. DeMons are NFTs that with their value accrual coming from the fact that they are scarce, with only 666 of them ever minted and also their utility in generating DMZ yield.
While most NFTs and collectible series use a computer-generated. But they are not mere holdings that you can hold and trade but are a cut and cult above. These are entirely hand-drawn artwork specimens, generated without using any computer algorithm, unlike any other existing NFT projects, that you can name as your belonging and show-off to shine apart as a card in your deck or as an Avatar to display your presence in your social circles around.

What is $DMZ? How to get $DMZ?

Every financial project demands utility tokens that the consumers could use to trade over the platform and deal with consumers around the globe. The same motive at DeMons will be served by $DMZ, our very own utility and governance token built on the Zilliqa blockchain that you can get in several ways:
    1.
    The very first way is to participate in ZILO. You can find more information here.
    2.
    Buy $DMZ in exchange for $ZIL over the currency exchange platform. A consumer can trade and get $DMZ from ZilSwap.
    3.
    Through incentives and burning rewards, where, with each demon sold, some amount of $DMZ tokens will be given to the first buyer of each demon as an incentive or as an incentive for holding demon, but this will be unlocked only after some $DMZs are burnt.
    4.
    Liquidity mining is another method that one can adopt to earn $DMZ by providing liquidity in the $DMZ Pool.
An exquisite way to earn $DMZ is by playing the game built around DeMonverse, making it a rare project. This method of earning $DMZs will benefit students and beginner investors in the field of NFT trading.
We'll be introducing a play-to-earn game that will be built around DeMonverse. We'll soon be announcing more details in due time.

$DMZ Utility

$DMZ is the official token that will be used in the DeMonVerse. There are a fixed amount of $DMZ tokens that can be bought from ZilSwap. So, $DMZ being the official currency of DemonVerse, it can be used for various tasks and has a higher utility.
Following are the utilities of $DMZ token :
    1.
    Level Up: Our users can level up their respective demons using $DMZ, which in return will increase the level of their demons and earn them good rewards and benefits. This will also burn some $DMZs in the process leading to an increase in the price of $DMZ.
    2.
    Resell Marketplace: We give our customers to resell their demon at resell marketplace using $DMZ. Anyone can set up an auction at the market and sell their Demon, where all the transactions will take place in $DMZ.
    3.
    Voting Portal: Customers can use $DMZ to vote for their favorite demons in the Devil’s court, which will help us identify the popular/rarer demons in the market.
    4.
    Name Changing: It is one of the biggest perks of leveling up, which allows our customers to change their demon and name it something personal to them to have an ever-lasting imprint in the blockchain. Changing the name will require them to burn a certain amount of $DMZs, adding another utility to the token.
    5.
    Merch Store: DeMonVerse does not have a merch store as of now, but we plan to introduce one as time passes. All of the merch available at the merch store will be bought in $DMZ.

Tokenomics

To get a fair and even distribution of monetary resources $DMZs, the virtual currency of DeMonverse will be restricted with a maximum supply of 16,666,660 $DMZs. Of this total $DMZs, a certain percentage, fixed as follows, will be allocated in different quotas.
Distribution
Percentage
$DMZ
Vesting Period
Advisor
5
833,333 $DMZ
1 Year
Initial Liquidity
5
833,333 $DMZ
-
Liquidity Mining Rewards
6
999,999.6 $DMZ
-
Private Sale - Investors
8
1,333,332.8 $DMZ
1 Year
Initial Launch Offering
10
1,666,666 $DMZ
-
Play to earn
12
1,999,999.2 $DMZ
-
Foundation
12
1,999,999.2 $DMZ
1 Year
Ecosystem
12
1,999,999.2 $DMZ
-
Demon Holder Pool
15
2,499,999.0 $DMZ
-
Team
15
2,499,999.0 $DMZ
2 Years
The $DMZ burnt while leveling up & name changing will be sent back to the reward pool, resulting in a more significant reward pool and making it last a few years longer.
Note: A round of private sales led by ZILHive was conducted at $0.50 / DMZ. More details on the initial sale will be made available in the near future. If you want to more about the private sale, you can reach out to us at [email protected] ETA 4 September 2021.

NFT Division

Name
NFT Per Species
Total NFTs
Original
100
500
Descendants
20
100
Legends
-
66
Total
120 + Legends(IF ANY)
666
In every species, out of 100 original demons, 80 will be male and 20 will be female. Each female demon can breed only once. For breeding, one male and one female demon will be sent to a breeding contract which will lead to the birth of a descendant demon. If any demon owner doesn't have any female demon, then he/she will first have to first buy/partner with a female demon for breeding.

Sale and Distribution

The sales and distribution of demons will be made according to the Step Curve. Buyers will be awarded 200 $DMZ for each demon purchase they make during the sale. Any random demon of that species will be allocated to the buyer, resulting in a fair random distribution. We have decided to limit a maximum of one demon per transaction. To ensure a fair distribution, the user will not know what demon they purchase until the sale is over. You can find more details here.
NOTE: Users have to create their profile (connect their ZilPay wallet) on the DeMons website before taking part in the sale.
Price increase after each significant batch of 25 demons
Why Step Curve not Bonding Curve?
Step Curve is a function derived from the initial phases of the bonding curve. Distribution as per the bonding curve makes the pricing rise exponentially for the later stage purchases. In contrast, the step curve resolved this problem by steadily incrementing the price for each separate batch of demons.
The initial sale purchases will be made in $ZIL as we do not expect colossal $DMZ circulation in the project’s initial stage. Due to the high sales demand in the preliminary phase, we have limited the demon purchases to one demon per sale.

Yield Rewards for Holding

DeMons has the provisions of not letting demons being as dead as dodo while residing in your wallets. To remove this apprehension, DeMons use Defi to add financial value around the owned demons. In a nutshell, demons will generate $DMZ just by residing in your wallet. All you need to do as the owner is, hold and level up your demons; furthermore, claim rewards (in the form of $DMZ) periodically.
But how is this possible?
To unlock the capability of getting rewards over the demons, the users need to level up their demons to a minimum of level-2. On reaching this level, the options for reward yielding will get unlocked. An extensive $DMZ reward pool (2,499,999.0 $DMZ) is established to reward all the users. With every block, you will get a small fraction of the reward pool. The amount of reward generated will depend upon the type of demons owned. Till now, DeMons has mainly two kinds of reward farming demons - the Originals and the Descendants. The $DMZ emissions for the respective demons can be analysed from the matrix below:

NFT Holder - $DMZ Emission (From Reward Pool)

NFT Type
Number of NFTs
NFT Emission
Time
Total
Originals
500
1500 $DMZ/yr
3 Years
2,250,000 $DMZ
Descendants
100
500 $DMZ/yr
3 Years
150,000 $DMZ
Legends
66
-
-
-
Originals
500
200 $DMZ
First Sale
100,000 $DMZ
With the current size of the reward pool, the demon yield farming will last for three years, but as people level up and name change. Those $DMZ will be taken out of circulation and will be sent to the newly created reward pool, making demon yield farming last for few more years.
How will it benefit the users?
The concept of reward yielding will add an intrinsic value to the demons apart from the resale value. Eventually, the users could feel financially independent as well as get great returns on the investments as they will earn by retaining their demon into their wallets for a longer extent. Yield Farming can be viewed as an alternative to level up demons, using the rewarded $DMZ instead of spending the earned ones.

Leveling Up

Leveling Up is a process to introduce gamification in demons. Gamifying Privileges will allow people to interact with their demons, rather than having them as sitting ducks and just reselling them.
We give all our users an option to level up their demons through $DMZs, which in return will provide them with an increased valuation of their demons along with different perks and benefits all through the ladder.
Unlike other NFT projects where you buy an NFT, you get a collectible for yourself, something you look at repeatedly and be proud of. But that’s just it; you can just look at it and applaud it. You have bought digital art, and if it's not used somehow, it sits disconnected from the blockchain environment. We are also aware of the slopes one might face in this market, and if it’s negative on a given day, you do not want to sell it. Maybe you want to sell your NFT but can’t because you like to make profits.
To ensure our users do not take losses and have the opportunity to earn even when the market is down and to create a barrier between selling and buying since higher-level demons will have more value, we have introduced leveling up.
And you don’t want to be late in doing so because as those $DMZs are burned, the cost of leveling up will keep getting higher. So try and hop up as soon as you can!
Levels:
Following are the different levels that can be accessed by our users, which can be unlocked using a certain number of $DMZs.
Level 1: 100 $DMZ - Welcome to DeMonverse
Perks - Introduction to DeMonverse. A place where your demon is placed in the DeMonverse gallery giving it visibility to the whole world. So that everyone knows that a new demon has come to the DeMonverse & also who owns that piece of art.
Level 2: 200 $DMZ - Reward Yielding
Perks - After unlocking level 2, our users can start earning through $DMZ. All you need to do as the owner is, hold and claim rewards 1500 $DMZ/yr (in the form of $DMZ) periodically.
Level 3: 300 $DMZ - Voting Rights
Perks - At this level, our users are given Voting Rights. The voting portal will be deployed to determine demon community ratings and feedback and collectively craft the future story of demons. We also decided to avoid conventional voting and enter a more modified and fairer vote - quadratic voting.
Level 4: 400 $DMZ - Merch Store
Perks - At level 4, we plan to give our users one of the immense stakes in the business by opening a Merch Store where all the users will be allowed to create their personalized demon merch, which will be sold on our website, and thus generating a parallel revenue stream for the demon owners.
    We do not have a merch store right now, but we plan to have one soon in the future.
Level 5: 500 $DMZ - Name Changing
Perks - After unlocking the highest level, we give our users to make their demons their OWN and give a personal touch to them. We will allow our users to change the name of their demons into whatever they like and have it permanently stored inside the blockchain and become an undying part of it.
Things to keep in mind.
    Once a demon is upgraded to a certain level, it cannot be downgraded.
    Level of demon will not change upon selling.
    New buyers can increase the levels, but in no case can they decrease.

Name Changing

After unlocking level 5, we allow our users to name their demons and add a unique personalised touch to their rare collectible, owing to your identity and making it rarer. We will enable our users to change the name of their demons into whatever they like (name change comes with a price, so choose it wisely) and have it permanently stored and publicly visible inside the Zilliqa blockchain and become an undying part of it.
A user, once leveled up, will have the option to change the name of their demon, which will cost them 250 $DMZ, making name changing the fastest way to burn $DMZ.
Why should you change your name?
One can always ask why it is essential to change the name of a demon or why you should burn your $DMZ in changing the name. These all are valid questions, and we will try to answer all of them.
When we decided to sell demons, we wanted to stand apart from the rest of the world, where thousands of NFTs in music, artwork, etc., are being sold.
We wanted our customers to feel more connected to their demon and give it a personalised touch which they can’t at any other place. Naming something is very special, and when that unique name is stored in an extended blockchain environment, you feel connected. That is why it is essential to change your demon and name it something that matters to you. And when that demon earns you profit, you can shout and tell that your boy made your money today.
Also, Name changing is an excellent way to burn $DMZ. When you change your name, $DMZs are burned, i.e., they are taken out of the circulating supply making the number of $DMZ available in the market more scarce, which increases the value of each $DMZ.
Things to Remember
    Name changing will be unlocked at level 5
    Name changing cost is 250 $DMZ
Name Changing criteria:
A name is treated as a valid name if it follows the following things:-
    No name can be identical
    There is a limit of 25 symbols (including spaces)
    Uniqueness is case insensitive (i.e., «Demon» and «demon» are considered the same for the blockchain)
    There are no leading or trailing «spaces.»
    Only alphanumerical symbols are eligible for use, i.e., A-Z and 0-9
    Used names become available immediately after the name of the demon was changed.

Community Rating/Demon Rating

The idea of Demon Rating (Community Rating) is being executed to unfasten the problem of 'Single NFT Autocracy,’ providing an even break to all the NFTs. Unlike other platforms where the makers decide the ratings of NFT and make them round-the-clock, Demons, however, keeping it unbiased from the creator’s viewpoint, given all the demons their virtue of upgrading the pre-attained ratings once in a quarter through the process of quadratic voting at the Devil’s Court. Demon Rating will help the demon owners to identify the rarity/popularity of the respective demon. The higher the community rating, the rarer the demon will be.
DeMonverse has its own Devil's Court, where the public will bench the chamber to vote for the demons. The winners of the ratings would get incentives to their holders, adding on to their profit.

Devils' Court

Devil’s Court is the platform’s own Voting/Governance Portal. Devil’s Court has introduced the idea of Gamifying the Voting portal with its brilliant and exciting voting mechanism, unlike the traditional monotonous and lengthy one. Gamifying privileges allow people to increase bonding by partnering up in the voting process, increasing the chances of winning their interests. Devil’s Court will open once in a quarter, listing a vast number of demons for voting. With the opening of the court, demon owners will assemble to decide the future of DeMonverse and the Demon Rating of each listed demon. It works on the principle of Quadratic Voting.

Quadratic Voting

What is Quadratic Voting?
Quadratic Voting is the decision-making exercise to cast votes to express your preference and how strongly you feel for it. You will not just be voting for or against an issue; instead, you will be given a set number of credits to cast votes across multiple topics.
It allows you to express more than simply your favorite choice. You are given some credits you can distribute to the options according to how you feel about them. You can also provide negative credits to the options you don't like. The adequate number of votes you cast for a given amount of credits is the square root of the absolute number of credits. This encourages you to vote for multiple options instead of piling all your credits on one choice. In this way, you effectively rank the options according to your preference and express the extent to which you like or dislike an option.
Why Quadratic Voting?
Quadratic voting gives more freedom to the voters in expressing a nuanced view. The quadratic cost function encourages voters to spread their votes, so they represent their opinions. More practically, this means that voters vote for options that they are more invested in, creating results driven by people with the most knowledge and passion for a particular subject.
What are credits?
Credits are units from which votes on a given option are derived. If you were to provide 20 credits to some option, we take the square root of your credits. Thus 20 credits would amount to ~4.47 votes. One hundred credits would amount to 10 votes. Do you notice how there are diminishing returns? That is why it is good to distribute your credits rather than putting them all on one thing; then, you will have a more significant impact overall.
Votes = (Credits)^2
Negative votes
Voters can cast a negative sum of votes on options they dislike. This makes a quadratic voting sound in polls with more than two options.
How is quadratic voting different from the traditional ones, and Why was this selected as a better procedure to cast a vote?
With the limited number of credits, you have to prioritise voting for the more critical issues. The freedom to express your intensity of priority across subjects helps protect the interests of small interest groups from the majority. It is not a winner-takes-all situation.
Let’s put the importance of that into perspective; in most cases, we are used to having only one vote to vote on one issue, but this can lead to an outcome preferred by the majority. One added advantage of Quadratic Voting is that it allows you to cast a negative vote on the options, which seems monotonous. This is called negative voting. The exact amount of credits will be utilised as positive voting in negative voting but are treated as opposing votes. Quadratic voting lets us hear your voice and have a clearer picture of what you believe is essential and should be prioritised.
Credits Distribution Policy
For users having demons of level three or higher, ‘C’ credits will be distributed to each user. And those having demons of levels less than three will be given credits based on the amount of $DMZ Tokens they own(A maximum of ‘C/2’ credits will be allocated to such users). If the user owns more than C/2 $DMZ tokens, they will be distributed a max of ‘C/2’ credits. And the users having less than C/2 $DMZs will get credits equivalent to the number of owned $DMZs.
For Example:
Considering the value of ‘C’ equivalent to 1000 Credits.
    If a user owns demons of level three or higher, 1000 credits will be allocated.
    If the user owns either demon of level 2 or lesser or has no demons, then the allocation of credits will be based on the $DMZs, the user owns. Here two scenarios are possible. They are:
      If the user owns 800 $DMZs, then 500 credits will be given to the user.
      If the user owns 300 $DMZs, then 300 credits will be given to the user.

Resell Marketplace

Resell marketplace, designed around DeMonverse, will be used to create an in-house platform for buying, selling, and trading your demons.
Why create our marketplace when there are many already existing?
Finding your demons at different marketplaces and struggle to find the right deal can be a hustle that we don’t want our customers to face. Resell marketplace will be that one solution to all such problems where our customers can see their Demons and trade them easily.
Keeping everything in one place also reduces the involved risk and takes off the pressure of creating different accounts at various marketplaces.
Technicalities
    If you sell demons at our marketplace, you’ll have to pay 5% platform fees and no additional charges.
    The characteristics (demon level, name, ratings) will also be given to the new buyer when demons get sold. So, sellers have to set a price that justifies their demon's price.
    The market’s currency will be $DMZ, i.e., everything will be sold and purchased in $DMZ (hence, it also adds another utility to the $DMZ token).
Auction
    The seller can choose how long the auction will run - 24hrs/48hrs/72hrs.
    When you put your item on timed auction, you choose the minimum bid, time for your auction.
    At least the minimum bid is set for the auction.
    It is freely available for the seller to set the price increment for the bid between 5%-12%.
    The auction cannot be canceled after making a valid bid.
    The winner, after the auction, has to claim the demon. While the other bidders have to claim their placed bids.

Auction Mechanism

Most of the auction platforms present today offer minimal privileges to both sellers and bidders. On many popular auction platforms, users are incentivized to bid the maximum they are willing to pay by not binding them to that total amount but rather to the previous highest bid plus the increment. These auction mechanisms are designed to limit the bidders to place higher bids and reduce the takes for sellers. DeMons has deployed its own Auction Mechanism to sort this problem, which will provide surplus opportunities for both the sellers and the bidders.
Now how is our auction model different?
Let’s understand this through an example:We have defined some key: value pairs to be used later.
Key
Value
current_Highest_Bid
$430
bid_Increment
$10
highest_Binding_Bid
current_Highest_Bid + bid_Increment
*These numbers are fictitious; please don’t consider them as true values.
CASE 1: Using the Conventional Auction Model
You decide to bid $500. But you cannot do so due to certain limitations. By default, the only option with you is to bid $440 (i.e. current_Highest_Bid + bid_Increment). If someone comes along and bids $450, you now need to bid $460, and the process continues until you bid maximum or bow out.
CASE 2: Using the DeMons Auction Model
You decide to bid $500. However, you are only obligated to pay $440 (i.e. current_Highest_Bid + bid_Increment) if you win the auction. In this case, $440 is the highest_Binding_Bid. If someone comes along and bids $450, you will still be the highest bidder, but the highest_Binding_Bid will be raised to $460. It’s like asking the platform to automatically bid for you up to a given amount, after which point you’ll need to decide to raise your maximum bid or bow out. Just to be clear, anything you send over highest_Binding_Bid will be refunded to you when you win the auction.

Merch Store

DeMons has its Merchandise Store to enhance user experience, both virtually and physically, by adding autogenic relics to their lifestyle. Demon owners will have an option to sell the merchandise based on their owned demons. The Demons of level four or more are only privileged to be listed over the Merch Store. The majority of profit will be shared with the Demon Owner, and a minimal amount would be charged in the form of platform fees.
Demons of level four or over will automatically go live over the store as soon as the Merch Store goes live. Till then, keep upgrading your demons, and stay tuned!

Liquidity Mining

Liquidity Pool stands for a swap exchange system. An investor could put some cryptocurrency already existing in his wallet and get the desired token that he could use for trading in the projects he intends to invest in. In DeMonverse, the liquidity pool stands for $DMZ-$ZIL liquidity pool, from where investors could buy $DMZ in exchange for $ZIL.
DeMons gives an advantage to investors who would provide liquidity in the $DMZ-$ZIL liquidity pool. The advantage is in the form of LPR, liquidity pool rewards. This rewarding system is called liquidity mining. The quota for the same has got 6% of the total DMZs allocated to it, which accounts for 999999.6 DMZs. The rewards are further distributed over a vesting period of 156 weeks as follows:

Liquidity Mining Rewards Distribution

Distribution
Percentage
DMZ
Rewards/week
0-52 Weeks
45
449,999.82 DMZ
8653.84 DMZ/week
52-104 Weeks
30
299,999.88 DMZ
5769.2 DMZ/Week
104-156 Weeks
25
249,999.9 DMZ
4800 DMZ/Week
Total
100
999,999.6 DMZ

Contact

Learn more about DeMons through the links below.
Project: DeMons (DMZ)
If you've any suggestions/feedback, you can reach out to us at [email protected] or [email protected].
Last modified 29d ago