SOLANA NFT/DEFI/TWITTER COMMUNITY
SHILL the MINT
So many NFT that we had to
increase this issue to 48 pages!
Have we missed the train? Is it too
HYPE & PRICE
How to analyse a project’s potential
Working together, paving
The HUMAN MACHINE
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
URS ARTISTS ROYAL GANG
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
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!
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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.
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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-
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nipulation during our minting process,
ALL 5000 cards will initially mint as Black
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
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
-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
-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
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to be included in the next issue. LIVE LINKS - CLICK IMAGE
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SHILL the MINT
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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
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
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.
SOLANALYSIS 7D volume
SHILL Issue #22
TRANSACTIONS / NFT HODL
The Astronaut @thexastronaut
SHILL Is1ue #22 29
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MOVERS / VOLUME
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
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
•Give NFT owners far greater flexibility than they had under the
previous IDO distribution model.
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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
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
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.
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
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
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
This seems to be where a lot of people got confused and flustered.
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
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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.
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