SHILL Issue 22

Solana ecosystem zine.

Solana ecosystem zine.


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So many NFT that we had to

increase this issue to 48 pages!


Have we missed the train? Is it too



How to analyse a project’s potential



0.025 ◎









the Editor

Working together, paving

the way.


GenelifeNFT creates a new

kind of mint.

Hype and Price

12 Huhao walks us through

how to analyse a project.

SHILL the Mint

Dropping, holding and 15



28 7D Volume rankings


30 What’s new on Holaplex?


32 SOLSWATCH scan of the



34 Have we missed the train on

this one?


40 The one-of-one mints you

wish you had ALPHA about!





We are just 7 days out from christmas day. We can push 1 more

issue out before that before returning on Sunday 26 Dec with issue

#24. Twenty-four issues my #frens, that’s a hell of a lot of pages!

Issue 22 is on your screen. FFifty-two pages of Solana content from

the past few days. NFTs. Mints. Holaplex mints. Information and

alpha content. It’s all here to keep you up to date and in the loop.

Personally, I am looking forward to 2 upcoming mints. The LitJesus

Gen2.0 release. Probably mint the most common of traits but the

Jesus series are truly amazing. Hand-painted, scanned and minted

as NFT. No 2 alike. Unlike a lot of the shit out there that everyone

apes into lately. Otherwise, I have focussed mainly on Holaplex mints

this week as I at least know that, 1. the artwork is original and, 2. the

artist is actually being paid for their work. The second is the much

anticipated winter launch of Space Goats on Acid. I really enjoy the

art [almost] as much as I love McNatt’s original pieces.

In this issue you will come across a fine article by HuHao about how

to analyse hype around a project. A skill we quickly have to develop

on the Solana chain with the plethora of high-grade shit that has

been dropping daily and disappearing almost as quickly. GeneNFT

walks us through their project ‘the Human Machine’ which is a novel

NFT series you should keep your eyes open for. Solape is minting its

access card now, what does it mean for you and is it worth the 1Sol

mint price?

DigitalRoamad walks us through the GenesysGo, Shadowy Super

Coder project and how it could be the most significant NFT you could

mint in 2021. Not in my wallet at 40Sol. Was considering if it touched

20Sol but it bottomed at 24 before shooting back up. You can’t get

in on every project!


SHILL Issue #22

Two Holaplex newcomers are featured showing that talent is flooding

into the Solana space. So much so that it is getting harder to find the

diamond Holaplex mints - there are just so many to choose from!

Finally, we round out this issue with some ultra fine submissions

from the URS Artists Royal Gang. This group of artists is growing

weekly with a truly supportive network. You need to look at what

they are doing in the space!

What are the stats for the past week you ask?

My roadmap goal was 1000 readers per week. This past week has

seen 1072 unique readers cast their discerning eyes over the #Shill

zine. Thank you #frens for your retweets throughout your Twitter

communities. Going to be hard to top this!

Looking forward to the next issue.

I almost forgot...I created a Shill zine logo! Cool huh?


SHILL Issue #22 5




By Gene - Scientific Art NFTs

What’s behind the artwork of our first scientific NFT collection?

Most of us live unaware that we are colossal molecular machines

of unimaginable nano-complexity. 1,260,000,000,000,000,000,000

moving parts keep each one of us living, thinking, surviving. As

many as there are grains of sand on the Earth.


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These parts are your proteins, strings of amino acids ntricately

folded to form 3D structures of diverse form and function. Your

genome, your DNA, contains the instructions on how to build over

20,000 different types. Honed and refined by four billion years

of evolution, these structures work together in a constant battle

against entropy to keep you alive.

Only in the last century has this reality become clear, and with it

a new understanding of medicine and disease. For example, a

mutation or change in a DNA sequence can disrupt the shape of its

protein. That faulty protein can then start a chain reaction, through

interactions with other proteins and systems. A classic example is

cystic fibrosis, caused by changes in a gene involved in moving salt

and water in and out of cells. In conjunction with infections, this

results in the build-up of sticky mucus in the lungs and digestive

system. It’s still an active area of research, but if we can fix the gene,

we fix the protein and cure the disease.

The NFT for CFTR, the gene involved in Cystic Fibrosis.

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For many rare diseases, we still don’t know which genes are not

functioning properly. Affordable DNA sequencing technology now

means researchers can look for the culprit by sequencing many

patients with the same condition and finding which DNA mutations

they have in common. This genetic origin is only the first step, we

then need to find out what the defective protein should be doing

and how to fix it. This means understanding the 3D structure of the

protein and how it has changed.

Predicting the structure from the DNA sequence has been an almost

impossible problem to solve. The structure can be measured with

crystallography, very high-resolution microscopy, but this is slow

and expensive, meaning that only a fraction of human proteins

have been studied. Earlier this year, in a surprise to many biologists,

DeepMind released AlphaFold, a breakthrough AI system that

predicts protein structure. AlphaFold has the potential to be a

game-changer for scientific discovery and, hopefully, research in

common and rare diseases.

Each artwork in our first collection features one of these protein

structure predictions for each gene in the human genome. They are

coloured according to where in the body they are found and styled

by how well studied their genes are. These really are the structures

in our bodies, each one an essential cog in our machinery. We hope

they convey some of the wonder and strangeness of the reality

revealed by science.


SHILL Issue #22


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access card

The Solape Access Card is a utility based NFT that offers exclusive membership

and rewards to the Solape community. The mint is happening

Saturday, December 18th at 5:00 PM UTC. There will be two rarities of the

Access Cards: Black and Gold


•Black Card holder perks: Benefit from on-going token airdrops from both Solape

and exchange partners. As a platform with a proven track record for providing value

in airdrops, seen here, this is an opportunity for all community members to earn

token rewards through Solape, without holding 100K Solape tokens.

•Rare Gold Card holders will in addition to the Black Card holder perks be entitled

to a 10% bonus percentage of token airdrops.

Solape Early Access — For as long as you hold this NFT, users will be

granted early access to all future DEX upgrades and platform projects. Access

codes or links will be distributed directly to owners NFT’s. Ensuring

both security and utilization of the card.

The ApeHouse — Chat directly with the team in an NFT-gated discord

channel. Stay updated on upcoming features, partnerships, and airdrops

as a Solape Member.

Card Personalization — Hold your Solape Access Card and unlock NFT

personalization rewards over time. For example, Adding your twitter handle

(e.g. @solapefiance), Add your PFP / Logo, and more.

Total Supply: 5000 Cards

Mint Price: 1 SOL

Mint Method: Candy Machine

Number of Black Cards: 4950

Number of Rare Gold Cards: 50

Recently, certain projects have seen botting issues, in which individuals

were able to game the system and mint rarer NFT’s. To avoid this ma-


SHILL Issue #22

nipulation during our minting process,

ALL 5000 cards will initially mint as Black

Access Cards.

After the mint has concluded, the Solape

team will host a live event where the 50

Gold Cards will be randomly allocated to

NFT purchasers and updated on-chain.

Absolutely everyone has a chance to get

a rare gold card if you minted one of the

original 5000. The more cards you hold,

the greater the chance.

A Solape NFT gallery interface will then

be established on our website to view

metadata and in the future make update

requests for personalization.

Will 100k SOLAPE holders lose out on airdrop

rewards now?

No, airdrop rewards for NFT holders are

separate from $SOLAPE token holders and

will not impact or influence one-another.

Do I get double rewards for holding 100k

SOLAPE and having an NFT?

You will receive two sets of airdrops.

If I hold more than one Solape NFT card in

the same wallet, will I still receive multiple



What happens if I sell my personalized


If you decide to sell your NFT on a secondary

marketplace after accruing personalization

rewards, the personalized information

will be removed after a sale has been

completed. Airdrop rewards you previously

accumulated will remain in your wallet.

If I list my NFT on a secondary market, will I

still receive airdrops to my wallet?

No, your NFT must be held in your wallet

and delisted from any secondary market to

receive airdrops.

-15% team.

-15% buyback of $SOLAPE token over a

period of 6 months; this will be used to

provide liquidity to the market.

-10% NFT Ape Fund, used to support our

listing partners and projects in the Solana


A percentage of each airdrop will still go to

holders of 100k $SOLAPE and that percentage

will remain higher than that of the

NFT airdrops. If you hold both the NFT and

the 100k $SOLAPE tokens, you will receive

both airdrops.

-60% treasury which will be used for the

following:Team expansion and hiring,

New Solape products, Infrastructure

upgrades, Improved support mechanisms,

marketing & Growth budget, CEX listings.

SHILL Issue #22 11






We like NFTs. Ever heard of the term “apes together, strong.” A quote from

the movie Planet of the Apes and popularised by WSB. Though in reality,

it works. A tribe working together can complete any goal. If a group of

crypto-rich millennials collectively appreciates buys a certain collection,

then these NFTs are going to be more expensive to buy due to demand and

supply. Economics 101.

Hype in NFTs is generated mostly over social media these days,

specifically Twitter and group chats in Discord. Do not underestimate

these two resources, they are practically the charts, graphs, order books,

and information for NFTs. This is because the NFT space is so new, we

are just starting. Imagine you owned a piece of art from any previous art

movements in history, most are worth a considerable amount of money. We

are living during the digital art movement and you shouldn’t be surprised if

students in the future are studying this movement as part of a curriculum.


SHILL Issue #22


The social media platform for all things blockchain-related. Twitter is the

perfect tool for us to collectively share moments, thoughts, and photos

and connect with each other. Twitter is also home to all NFT project pages,

news, activity, announcements, and more. Fundamental analysis can be

conducted surrounding hype if you’re goal is to flip or invest in NFTs.

That is why you should dedicate your time and energy to find the best

projects for your ROI. The Bored Ape Yacht Club collection (BAYC) was

released at an 0.08 ETH mint price of $165.94 USD. Currently at the time of

writing, the lowest ape you can buy on the secondary market at OpenSea

is 6.55 ETH $13,586.34 USD. That’s an 81.875x return in 3 months. Cool.

Now let’s look at some apes with the highest sale prices so far. Cool cool


The highest price an ape has sold for is 109 ETH $225,910.13 USD. That’s

a 1362.5x or, 136,250% ROI IN 3 MONTHS. Now, this gets fun. Even for

anyone that has experience in crypto. The reason there are discrepancies

between the prices of apes is the rarity of these NFTs. Some procedurally

generated apes have traits that are rarer than others:

You can use rarity.tools which is a great website to view the rarity of each

collection. The tool lists the most popular NFT collections and you can

see your own NFT’s rarity by searching for the # of your token. The Twitter

platform will provide a gateway into certain project sites, as well as their


SHILL Is1ue #22 13


Send your playlist to:


to be included in the next issue. LIVE LINKS - CLICK IMAGE


SHILL Issue #22


LitJesus Gen2

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BatCity Underground


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Dino Kingz


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Chimpanzee Tribe

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Stock Tylers



Mickey DeGods




Communities in Discord servers of each project can be extremely

helpful in answering any questions you have. All aspects of a collection,

announcements, and most importantly: community building. You can find

my own Discord server here. Come swing by and say hello! The reason the

BAYC collection had such a popular rise and price is due to community

engagement. People are excited to own an ape. It meant that you were part

of the ‘exclusive’ club where people set their own apes as their PFP across

all social media platforms.

This created interest in the public, and thus created more demand. The

number of users, engagement, and feel in each Discord server would give

you a very good idea of how well a certain collection would fare after the

presale on the secondary markets. I’ll go through two examples with my

own analysis and thoughts. One will be a drop that has already happened,

one will be a drop that has yet to happen. If you are interested in watching

me mint NFTs check out my Youtube channel.


1. Pudgy Penguins (8888 Supply @ 0.03 ETH Mint)

These cute little penguins would be something I genuinely would buy,

considering the NFT market is starting to heat up. I’ll only mint one. I only


SHILL Issue #22

purchase or ape into projects/collections that I am 100% confident in. If I

have any doubts I’d rather not take the financial risk, as there is enough risk

as it is. Even if a project I’m in does flop, I’m happy to hold onto some art

that I really like for a long time. Remember CryptoPunks is only 4 years old,

and some are sold for millions already.

Imagine you owned some NFTs from right now. Where NFTs are brand new,

30 years down the line if you picked the right collections could your NFT be

the next CryptoPunk? Who knows. Finding projects that stick around, can

be done by choosing the right tribe and community to be in. These cutelooking

penguins sold out in under 19 minutes. A total of 8888 NFTs in the

collection @ 0.03 ETH mint price.

Analyzing the figures, we can look at the Twitter profile of the Pudgy

Penguins. Around 1.9k followers on Twitter. These numbers are extremely

important, as they will correlate with the number of people interested, and

therefore demand. Second, looking at the Discord server. There are 2033

users that joined in total at the time of the drop.

Between these figures and the fact that 8888 were sold within 20 minutes,

we can take this as an example of how the current NFT project sales are

acting in the metaverse. 8888 x 0.03 ETH = 266.64 ETH = $584,378.89 USD

in 20 minutes by 2k users in a fairly successful launch.

266.64/2000 = 0.133 ETH = $275.78USD. That means for every user in the

collection, the average purchase power was 0.133 ETH per person, from

the discord user to the total amount of ETH spent on this particular project.

This will give us a rough outline or base of what to expect in future

upcoming projects. The chat within the Discord server looks organic and

not dead which is what a normal project looks like, therefore it’s realistic.

Immediately, after the drop @ 0.03 ETH mint price the average sales on

the secondary market is @ 0.055 ETH, that’s almost a 2x ROI within a few

minutes. Just for waiting for a drop, paying some gas fees. Imagine doing

this on a bigger scale.

2. The Vogu Collection (7777 Supply @ 0.077 ETH Mint)

The Vogu features a

7777 supply of a roboticthemed

NFT collection,

with a large interactive

community. Before the

drop, which is on Monday,

July 26th, 5:00 pm PDT

2021 there’s already so

much engagement within

the community. The team

has generated a large

following by hosting and

joining interviews across

all social media and the

vision is something I am

looking for before investing

in an NFT collection.

Many projects have a

“roadmap” that only

happens throughout the sale, usually looking something like this: 25%

sold = 1 ETH giveaway, 50% sold = free airdrop, 100% sold = lofi Youtube

channel. What the hell is that? The team will just abandon the project and

move to the next best thing they do. Creating a short-term pump and dump

NFT project. The Vogu has a total number of 4664 Twitter followers at the

time of writing.

Looking through their Discord server, there are 4325 users in total and

counting before the drop at the time of writing.

I am only using the average purchase power per user rather than the

amount of NFTs per collection over the number of users because user

counts, number of NFTs per collection, and mint price are all variables. The

only factor we can assume is the average purchase price per user from a

successful project.

Compared to the previous Pudgy Penguins project, the average purchase

power of 0.133 ETH is $275.78 USD per person this means 4325 x 0.133

= 575.225 ETH can be spent by all the users. But. Is there enough to go

around? The total 7777 x 0.077 ETH mint price =598.829 which is great for

any whales as there is space for an extra 20 ETH worth of stock. There’s

the other factor with the amount of NFTs in the collection vs. the number

of users. 7777 / 4325 = 1.9 ~ just less than 2 NFTs per user. I estimate

that 20% of the total users will be minting the moment the minting function

comes live, 80% coming through the next couple of minutes. Though as

user numbers grow, I expect the average NFT per user will be closer to 1.

I personally am scared of missing out on this project so, during the time

when I mint, I’ll be setting my gwei over both normal and fast in order not to

get slaughtered in the gas war between other minters. The average amount

of people within the discord probably are buying < 2 as they truly like the

project, as do I. Some people can therefore utilise this demand in order to

make a profit. Sometimes in large amounts.

Vogu has differentiated itself from the typical animal/creature NFT collection

in two ways. Aesthetics and vision. Aesthetically it is very different from

anything else on the market, and this is how the CryptoPunks, Bored Ape

Yacht Club have done, with a plethora of knock-off projects for people who

did not get into the right one. Not many have a robot that is ripe for a PFP.

Do not underestimate the power of aesthetics on pricing in the NFT world, it

makes a difference in price. The team specifically wants to create IP which

creates value for the NFT you hold. This is the next wave of NFTs in my

opinion, to be able to find the first movers of collections that focus more on

IP than just a quick money grab. Follow me on my journey in the Metaverse.


Analyzing hype value on NFTs is an important factor when choosing a

collection you want to have, apart from hype focus on the community and

the team. Remember, dead Discord engagement = dead projects.

While you are looking around why not check out our Youtube Channel NFT

Caviar for some free content? Make sure to subscribe and to be notified

for each video upload! You can also follow me on Twitter @HuhaoNFT for

updates in the NFT metaverse.

Oh yeah, we like NFTs.



SHILL Issue #22


The Astronaut @thexastronaut

SHILL Is1ue #22 29



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SHILL Is1ue #22 31




SHILL Issue #22

Solana Bunny Business


Jeff Opdyke @DigitalRoamad

I will declare here that the GenesysGO Shadowy Super Coder NFT is going

to go down as a legendary investment. At bare minimum, I see it spinning

off about $4,100 per month, starting Jan. 4.

The problem, however, is this: Too many former SSC NFT holders do not

understand what happened in the Town Hall yesterday (14 Dec) and rushed

for the exits.

Brief aside: You know those stories of lottery winners who lose their $1

million winning ticket, and then beat themselves up thinking about what

could’ve been?

Brief aside over… The GenesysGO team held its third Town Hall with more

than 450 members of the Shadow DAO. These are the immediate highlights

you need to know if you’re an SSC NFT owner, or you’re thinking of investing

in one … or if you’re one of those who have an SSC listed right now…

•GenesysGO has set the IDO date for its $SHDW token. It will happen

Jan. 3 — 8am Central Time, US. (2pm UTC).

•IDO price is $0.50.


•GenesysGO has tweaked its previous token distribution model to

create a unique system based on daily vesting, in which each NFT will

spin out 27.39726 $SHDW tokens per day, every day, for a full year.

•GenesysGO — and this is most important — is expanding its mission

beyond Remote Procedure Call serves (a commodity) to on-chain

storage built directly into the SOL network (a premium service). The

$SHDW token, thus, becomes a true utility token that will serve as the

payment mechanism for storage needs. This becomes the revenue

stream — and it’s potentially huge.

I will address key elements of those bullet points in a moment. But first, a

crucial public service announcement: Despite all the angst I’ve seen in the

GenesysGO Discord server, what GenesysGO is doing is hugely beneficial

to NFT holders. It’s going to:

•Protect the tokens from the typical post-IDO dump that ALWAYS


•Maintain value of the NFT itself, post-IDO (a big concern many

people had).

•Give NFT owners far greater flexibility than they had under the

previous IDO distribution model.


SHILL Issue #22

I point out those facts because some

people in the wake of the Town Hall freaked

out, got mad, got frustrated, thought they

saw their plans for immediate IDO riches

vanish and, so, in what I will describe as an

emotional tizzy they immediately dumped

their NFT. I know this because the floor for

SSCs on Magic Eden fell to 20 SOL from

42 just prior to the Town Hall (if only I’d

been awake…)

The floor has since bounced back to 30.

SSC sellers have willingly traded the filet

mignon and a bottle of Chateau Le Pin they

could have had tomorrow, for a Chicken

McNuggets Happy Meal with a flat Sprite


Another brief aside: In the year 2000, John

Antioco, head of Blockbuster, could have

bought Netflix for $50 million. He literally

laughed out of the room a company now

worth $264 billion — a 5,280x winner. Go

read John Antioco’s Wikipedia page. He’s

best known for the stupidest decision

of his life, and one of the epic failures in

American business.

Now, let’s run through the more-important

elements of those four bullet points so

that you have a clearer understanding of

what GenesysGO is up to.

On-Chain Storage

Frankly, this is by far the most important

reveal in yesterday’s Town Hall.

GenesysGO will expand its mission to

basically become a storage system

embedded into the Solana blockchain.

It won’t be a layer sitting atop the chain

or riding parallel to the chain, like other

storage providers. It will be part of the

chain itself.

That has substantial benefits to

GenesysGO in that it becomes a necessary

service provider for basically every

project building on Solana.

Just this week, Solana’s network

slowed so dramatically that

transactions were failing everywhere.

A network capable of running 65,000

transactions per second was down to

1,000 at some moments.

Part of the reason for the turtle-like

pace: Bots, and a bug in the “Feeder

Queue,” which stacks transactions

in line as they wait for validators to

become available, wreak havoc on the

network during moments of stress.

Data storage — meaning the immutable

record of all Solana transactions — is

currently stored on RPC servers (often

temporarily before being overwritten)

and on what is effectively a giant

spreadsheet on Google Big Table

Storage. The integrity of data recall,

necessary meaning that immutable

record, is in question and is technically


In short, Solana’s consensus

mechanism is not as secure as it

needs to be in order to scale to the size

Solana envisions for itself. Without

the immutable record of transactions

and the capacity to have data-demand

scale with the network … Solana will

never achieve its big-boy dreams. (To

be clear, that’s coming from someone

who is a huge fan of SOL.)

GenesysGO now aims to tackle

that problem by building on-chain,

immutable storage that runs at speed

alongside Solana.

The effect is symbiotic: GenesysGO

gives Solana the “hard drive” it needs

for the rapidly accelerating data

demands placed on the rapidly growing

SOL network, and in turn, Solana’s ability to scale means GenesysGO rides

shotgun with that growth.

And here’s the benefit for hodlers of the SSC NFT: $SHDW tokens will be

required for storage demand. A utility token.

Instead of using $SHDW as ETH-like gas to afford the storage transactions,

the token will be staked in large quantities (think: collateral) so that a

storage user can maintain storage access.

The way I see it, that creates a certain price stability since so many tokens

will effectively be pledged as collateral. It takes those tokens out of daily


Daily Vesting

This seems to be where a lot of people got confused and flustered.

Or angry.

Originally, GenesysGO was going to allow NFT holders the option to sell into

the IDO some of the 10,000 $SHDW tokens awarded to each NFT holder.

But here’s the crucial point to remember: Those who might have opted for

that path would have been locked into the IDO price. That is an important

distinction I will return to in just a moment.

Under this new plan, SSC NFTs will be staked in a smart contract, and each

NFT will distribute 27.39726 $SHDW tokens per day for 365 days.

Owners can claim those tokens every day, then turn around and sell them

into the market at the prevailing price. Or they can hold onto them. Markets

will include major Solana network exchanges such as Orca, Symmetry,

Raydium, and Dex Labs among others.

What this means is that an SSC NFT is basically an annuity contract that

pays its owner daily for a full year.

And the law of averages says you’re very likely to see a higher return this

way. It’s dollar-cost-averaging in reverse. One day you sell at $2.32, one day

at $3.28, another day at $4.07, etc. Over the course of all your sales, you will

have likely earned more than had you sold all at one price from the get-go.

But for someone who demands liquidity, an SSC owner has the flexibility to

pull their NFT out of the contract and sell it on the secondary market at any

point along the way.

All the remaining daily payouts go to the buyer. Which means that post-

IDO the NFT maintains value. In fact, it might be worth even more than the

assumed daily payouts.

Here’s what I mean. Let’s assume that $SHDW is trading at $2 per token,

just to pick a number. And let’s assume an owner sells it with exactly 10


SHILL Issue #22

months’ worth of daily payouts remaining:

•The NFT is spinning out $54.79 per day.

•Or $16,438.35 over the next 10 months.

An owner could very well list that NFT at $20,000, which would imply an

expected $SHDW price of $2.433 per token. As the price of $SHDW rises,

you’re very likely to see buyers snap up the NFT because they’ll have

expectations that the $SHDW price will go higher than $2.433 and that

they’ll make good money holding the asset.

It’s literally no different than the reason investors pay up to own Tesla or

Amazon or Apple: They’re willing to pay a high price now on expectations

that the company’s earnings will drive the share price even higher. The SSC

NFT is something like a crypto version of that.

Better still, each NFT is packaged with a bonus: Stake the NFT for a year,

and you earn 3,000 bonus tokens, a 30% bump. Those tokens travel with the

NFT. So, if an owner sells before the 12-month holding period has expired,

well that bonus travels with the NFT, helping the NFT maintain even more

value since the seller would obviously calculate into the NFT price the value

of those 3,000 tokens that will land in the new owner’s wallet at some point.

(NOTE: To clarify confusion: Each NFT will pay out the 3,000-token bonus to

whoever stakes it for a full year.)

Now, back to the idea that some people are miffed that they don’t have X

number of tokens to sell in the IDO and pocket gazillions of dollars.

That was never going to happen!

Under the previous plan, NFT owners who opted to sell into the IDO would

have been selling at the IDO price — not the price to which $SHDW might

spike. If the IDO launched, for example, at $0.50, and an owner was selling

5,000 tokens of their 10,000-token allotment, then they’d walk away with

$2,500, even if $SHDW immediately spiked to $20 per token.

With daily vesting, an NFT owner actually benefits from that spike since

they will have tokens immediately available every single day to sell into

whatever price they’re comfortable with … or they can hold those tokens for

even higher prices later, if they expect that.

Moreover, those who want to sell their daily $SHDW emission will benefit

from daily vesting because of the limited supply of tokens on the market.

In most IDOs, there’s a brief flash higher, and then suddenly a tanking as all

the gazillions of tokens flood in. But with daily vesting, there is no flood of


The IDO is 30 million tokens. The daily vesting emission is 273,972 based

SHILL Issue #22 37

on the 10,000 NFTs that exist. That’s

not even 1% of the 30 million initial

supply. And there’s an extremely

high likelihood that only a fraction of

those 273,972 tokens will end up on

the market since there are so many

$SHDW hodlers who are not going

to part with their tokens (me being

one with the 3.5 Shadowy Super

Coders I currently own).

Taken as a whole, this approach

to the $SHDW IDO limits the ability

of whales to dump a boatload of

tokens immediately, which would

undermine the price. And it’s giving

us, SSC owners, a huge amount of

flexibility to sell tokens daily, hodl,

or even completely pull an NFT out

of the smart contract and sell it on

a secondary market, knowing that

the NFT has a ton of residual value

based on the remaining vesting

payments and the 3,000-token


What Might All of This Look Like?

Let’s consider a post-IDO $SHDW

token relative to Filecoin and

Arweave, two of the primary storage

firms now. Neither can scale with

Solana and neither is built into the

network itself. But they’re excellent

comparisons because of the

business they’re in.

At Filecoin’s market cap of $5 billion,

$SHDW is a $25 coin.

At Arweave’s valuation of roughly $2

billion, $SHDW is a $10 coin.

Frankly, I think $SHDW achieves

a $10 billion valuation ultimately

because as a storage arrangement

running inside the SOL blockchain

itself, $SHDW has a superior, cleaner,

more elegant solution that literally

scales right alongside Solana.

That’s a $50 price tag on $SHDW.

But let’s just stay conservative and

stick with $10 to $25. That means

one SSC NFT will spin out between

$274 and $685 per day.


Let’s be even more conservative.

Let’s say $SHDW is a $5 token (a

fully diluted market cap of just $1

billion; a top-90 crypto).

That’s $137 per day or more than

$4,100 per month. That’s an annual

salary for a boatload of people —

and more than an annual salary in

many parts of the world.

For those who see what GenesysGO

is doing, you will reflexively

understand why an SSC at 30 SOL

— or even 50 SOL — is dirt cheap

relative to the value that will be

unleashed over the next year.

Seriously, if you think $SHDW at $5

per token is a legit price, then an

SSC is worth nearly 300 SOL right

now, using a $170 SOL price. At 30

SOL, the market is valuing $SHDW

at $0.52 per token, basically its IDO

price. And to think $SHDW is worth

just $0.52, given the role it’s going

to play in helping Solana scale,

is akin to John Antioco’s Netflix


For those who can’t get past not

having immediate access to some

portion of 10,000 tokens you can

sell at IDO for $0.50 each and

pocket a whopping $2,500 or so …

I’ll be waiting for you at Magic Eden.


SHILL Issue #22

SHILL Issue #22 39



SHILL Issue #22


SHILL Issue #22 41



SHILL Issue #22


SHILL Issue #22 43




original is an animated gif



COVER: @itslordof

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