Tokenomics

Breaking down the tokenomics structure of our NFTs and tokens.

Token	Type	Contract Link	Max Supply
Membership Pass	ERC-721M	Membership Pass Contract	20,000
Genesis NFT	ERC-721M	Genesis NFT Contract	20,000
$RUG Token	ERC-20	$RUG Token Contract	255,000,000
$RDAO Token	ERC-20	$RDAO Token Contract	170,000

Membership Pass

• The Rug Radio Membership Pass started out as a mint pass that provided early access (famlist) to mint the genesis NFTs. However, it has now transformed into a more affordable key to the ecosystem, offering greater accessibility to all interested participants.

• Holding a membership pass allows you to participate in our Rewards Program where you can earn $RUG by engaging on Twitter, completing bounties, and participating in listen-to-earn.

Genesis NFT

• Genesis NFTs provide daily $RUG token rewards and offer access to additional perks for being part of our community.

• Accumulated $RUG tokens can be viewed or claimed on the claim dashboard.

• Holding a Genesis NFT also allows you to participate in our Rewards Program.

$RUG Token

• The $RUG token serves as our utility token

• The total supply of 255 million $RUG is slowly released on a 5 year time frame

• $RUG can be earned by holding Genesis NFTs, participating in the Rewards Program, and listening to shows.

• $RUG can be used to convert to $RDAO and participate in governance, purchase items in the Rug Store, and more as we continue to build out our rewards program.

$RDAO Token

• The $RDAO token is our governance token that represents a holder’s voting power within the DAO.

• $RUG can be converted to $RDAO on the claim dashboard
• $RUG that is converted into $RDAO is not burned, but is instead transferred to the RugBank for redistribution

• The exchange rate is 1800 $RUG = 1 $RDAO

Note: Currently, it is not possible to swap $RDAO back to $RUG.

ERC-721M

• ERC-721M is a new standard developed by SyndicateDAO, our smart contract partner, with a modular design that includes features such as

  • Customizable mint, burn & transfer plug-ins

  • Customizable, evolvable metadata & renderers for on-chain identities, roles, reputation, and more

  • Gas-optimized bulk mint, distribution & onboarding capabilities

• The power of using this smart contract standard means that our NFTs can easily evolve as our community grows and changes.