The Idols is a collection of 10,000 unique NFTs living on the Ethereum blockchain. Similar to other projects, Idol NFTs will serve as a proof of membership to a special community (The Idolverse). Unlike a standard NFT mint, no ETH raised from The Offering will be paid to the founding team. 100% of funds raised will be converted to LIDO stETH and deposited into the Idol Treasury. The Idol Treasury is an example of PCV (Protocol Controlled Value similar to the FEI PCV). The principal amount of stETH in the treasury can never be withdrawn, however all 10,000 Idol NFTs will have an equal claim on the staking income generated from the Idol Treasury in perpetuity.
Robin’s original DefiANTS brain dump https://docs.google.com/document/d/1Cemu9ki6ikD-e5tEzSnns7yjoVJrEPof8Vv-x9abiNA/edit?usp=sharing
#TheDefiant #DeFi #Decentralized #Finance #Blockchain