Special updates from the BCH GANG NFT project
A few days ago, the BCH GANG NFT project team announced in their telegram group notifying the community of some upcoming changes to the project. The team apologize to the community for the slow pace of the project and promised to come up with a robust and accommodating plan for the project.
The announcement was followed by the first update of a reduction to the mint price of the BCH GANG NFT by a 50% margin. The new price will now be 0.015 BCH to mint 1 BCH GANG NFT. This was a decision taken by the team members after a series of discussions. According to the update, they decided to do this to encourage everyone and to speed up the project.
In light of the above, the team has designed two options to compensate those who have minted BCH GANG NFTs earlier. Investors can choose between any of the options they like.
1. A full refund of invested money if they want to send the NFTs minted back to a specially designated address.
2. Or additional NFTs to cover the invested money at the new price.
That seems to be a logical and brave decision from the BCH GANG team, something that has never been done in any project in the smartBCH community. However, it's essential to give a full update on the entire BCH GANG NFT project and how the team plans to achieve its goal.
This update details some changes to the technical implementation and roadmap design for the BCH GANG NFT project. The official BCH GANG NFT Team has published a special roadmap page on their media handle detailing the upcoming changes and updates on the roadmap. The team is already in the process of working on many important updates for the project.
BCH GANG NFT: Plan of Action
The BCHGANG NFT minting site will be updated to reflect the new price of 0.015 BCH per mint and relaunched consequently. The NFT minting now comes along with an immediate reward or discount on a badge mint of 10 NFTs at once. Minters will automatically receive 1 free NFT for every 10 NFT minted.
The first use-case (STAKING) and its implementations are already being worked on by the project"s Developer and will be released as soon as the NFT mint progresses. The staking power of each BCH GANG NFT will be determined by the rarity level of each piece.
The release of the staking features will be available after the BCHGANG NFT Token ($BGNT) presale. This is so to have enough liquidity for the reward tokens for staking BGNFT. at a 20% discount off the actual listing price.
In addition to that, the NFT leveling system will be deployed, and the BCHGANG NFT lottery follow as the project progresses.
Nonetheless, complete details of how the project funds will be utilized were made available, which I think you need to have a look at.
Below is a detailed breakdown of how the team plans to disburse the revenue for the success of the project.
Here is the proposal for the distribution of funds:
80% of minting revenue goes into farming on reputable DEXs on SmartBCH with reasonably stable token pairings such as BCH and a stable token or two stable tokens.
50 to 75% of the farming rewards will be reinvested into the farming funds.
25 to 50% of the farming rewards will be used for reward token buy backs, liquidity increases, or expenses for a reward token farm.
This is done to safeguard the reward tokens from dumping quickly and to have a reserve fund for the project development towards the implementation of its use cases.
The exact allocation of the farming rewards depends on the market conditions and reward token prices at the time.
20% of the minting revenue is allocated for marketing, community events, outreach, future development, and team compensation
25% of the NFTs are allocated for marketing, outreach, community events, and team compensation.
Presale of the reward token
3,000,000M BGNT rewards token (50% of the first year's emission) is allocated for a presale. The presale aims at raising 30 BCH. 100% of the presale proceeds will go into the liquidity pool for the reward token.
The presale offers a discount of 20% to the listing price of 0.000012 BCH per GANG token. The presale price is therefore 0.00001 BCH per GANG token.
For every 100 BGNT reward tokens created via emission, 3 additional BGNT tokens are created and sent to the project's wallet. These tokens can be used for token burns, token liquidity increases, and to cover the cost of future developments or marketing, outreach, and community events.
The incentives are aligned so that the team is interested in making this project a success in the long term.
Given the information above, I believe the BCHGANG NFT project is one with good intentions for the smartBCH community, a project that is more or less community-driven.
Presently, the BCHGANG NFT mint site has been updated to reflect the new minting price per BCHGANG NFT. Minting is currently going on, you can head over to the mint site to get some BCHGANG NFTs, and don't forget the instant reward for minting 10 NFTs at a go.
Useful links and contract address
Mint site:
http://thebchgang.github.io
BGNFT Contract address
0x651D28aa119e484008037DbCb783DB68F7Ac590A
For more information and subsequent updates follow the project on their telegram chat group.
The BCH Gang - NFT GameFi Platform on SBCH
Main Chat
This might just be as good project to invest in from all what I have read. I will mint some when I can.