Kanaria 2: From the Ashes of Hou-ou

No, it's not the title of a bad 80s Kung-fu flick. It's Kanaria's (and RMRK's) next phase.

Our Initial Collectible Offering closed on June 30th, and what a ride it's been. We managed to break Kusama itself twice, launched two platforms - Singular and Kanaria - and while we've been developing the core of the most advanced NFT system in the world we commissioned 99 custom artworks, ran the first non-runtime DAO on Kusama and probably the first ever NFT-DAO, established partnerships with almost all of the heavy hitters in the Kusama ecosystem, are still running an art contest for 40 custom artworks, and are working together with major players from the Ethereum world on bridges, reimplementations, and stronger standardization.

In total, the fires of Hou-ou ended up consuming 1185 out of 9000 Limited Edition eggs and 153 out of 900 Rares. Yes, the rares missed their last bonus by only 3 eggs :(

Needless to say, the claim exceeded our wildest expectations. In the beginning even 50% was a distant dream, but with a unique sale angle, working products, and a good vision, we've proven that we can create demand and establish symbiotic relationships across the entire ecosystem.

The burned eggs contained 1171521.0356 $RMRK, or 11.7152% of the total supply. With growing CEX interest and 88% of the tokens in the hands of the community, this means our original tokenomics plan needs a revamp - more on that in a separate post as we get our bearings and decide what to do.

Snapshot and Token Allocations

The token allocation snapshot took place on July 1st, noon CET. Here's what this means:

  • every account that held eggs on July 1st noon CET has been assigned a token allocation based on these eggs. The allocation is visible at kanaria.rmrk.app/tokens.
  • you can now send the eggs around, sell them, destroy them, hatch them - your token allocation will remain unchanged.
  • if you lost access to the account which had eggs on July 1st, noon CET, you HAVE LOST ACCESS TO YOUR TOKENS. We will NOT be moving the allocation to a new account because it is not possible to prove that you owned that account.
  • the tokens will be minted as soon as Statemine, the chain on which we will be minting them, is permissionless and we're allowed to mint.
  • the tokens will be distributed automatically.

Stats

We have 1711 individual egg holders, with an average of 5 eggs per holder. Here's what the curve of eggs per holder looks like:

In total, people have sent in 1'200'000 emotes with an average of 121 per egg. Before Kusama's fees were reduced, we spent a total of 54KSM on emotes, and after another 78KSM at 50x less cost 😱

Of all 8661 claimed eggs, 7971 are hatching at this moment. 217 accounts seem to have completely forgotten about Kanaria (they only have unhatched eggs), effectively forgetting about a 3086 KSM (~$600,000 based on an exchange rate of $200 per KSM).

Of the 99 Founder eggs, 90 are hatching and 9 are rotting (fingers crossed they survive! 🤞).

In terms of our partnerships and referral links:

Additionally,

2 Rares and 57 Limited Edition eggs were claimed after this tweet, increasing their chances for Polkadot and Kusama related visuals, whereas the 2 Rare and 46 Limited Edition eggs purchased after one of the Hou-ou tweets (1, 2, 3, 4) will get an increased chance for fire-related visuals.

Thank you all for being a part of this journey - it's far from over, and I hope you'll join us on the rest!

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