Try Quests to earn SOLDUST is in the Air
Project : Solana
\n Bounty Name : DUST is in the Air
\n Question:The team and the community have been building with $DUST. How is $DUST being used in the Solana ecosystem? What are its most popular use cases and where are buyers of $DUST coming from? Highlight at least 3 metrics showing $DUST trends in Solana.
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Date of analysis : 2022-09-08
What is DeGods?
DeGods is an NFT project fully built on Solana. DeGods offers a range of deflationary collections, including degenerates, punks, and misfits. They consider themselves Gods of the metaverse and masters of their own universe. There are less than 10,000 DeGods NFTs available on the market.
DeGods have integrated with Dust Protocol in order to use DUST tokens across its entire ecosystem.
DeGods NFTs
DeGods NFTs can be verified and allows its holders to gain access to the DeDAO community and become visible on DeMap. It can also be staked to mint 5 DUST tokens per day, regardless of rarity.
Users can burn DeGods NFTs to earn DUST tokens. Rare DeGods NFTs will obtain more DUST tokens than common ones. The amount of minted DUST tokens is calculated as the following formula:
DUST token Quantity = 1000 + (number of Remaining DeGods NFT - Rarity Ranking)
Only one DeGod NFT can be burned per day. DeGods NFTs holders need to submit their NFTs to a queue (non-reversible) if they want to burn their NFTs. At the end of each day, the most common DeGod will be burned, and the holder will receive DUST tokens. Source
DeGods Token Use Cases
DeGods do not have their own token. They integrated with Dust Protocol to use DUST tokens in their ecosystem.
DUST tokens can be used to:
- Win top-tier NFTs every day.
- Purchase NFTs in the DeDAO treasury.
- Used in DeadGods mutation, auctions, raffles, P2E & PVP games, and betting platforms (TBA).
- Sent to the DeDAO treasury to maintain a healthy supply of circulating DUST tokens for economic activities and utility development.
In the future, there will be a new NFT collection only mintable using DUST. The DUST token is not an investment and has no economic value. The price of the DUST is established by the free market.
DUST Swaps
In September, due to the good news that came to DeGods, the volume of its swaps increased a lot, so that on September 6, the volume swap record of this token was broken, and its swap volume reached 800k on this day. Most of the dust swaps are done in Jubiter, and a total of 18.5 million DUST has been swapped in this exchange, which is 61% of the total volume of swaps, and this means that the remaining 39% has been swapped in Raydium, with a volume of 11.5 million DUST. This token had the most swappers on September 4th, and it had 2,370 swappers on this day.
The most used token by users to buy DUST is Wrapped Sol and its swap volume is 4.39 million.
The most popular currency that users sold their DUST to buy is Wrapped Sol and its swap volume is 3.85 million. So we conclude that the most popular currency for swap DUST is Wrapped Sol.
In total, the volume of Wrapped Sol swaps with DUST is nearly 70% of the total swaps of this token.
The most wallet has done with dust swap is (3heTLmaYyWpQhvfYztMWBhzB9wqRqVgZofYtdw8778gf)
This wallet has swapped more than 100k DUST by doing 3000 swaps.
DUST Actions
The most activity that was recorded for DUST was transfer. In total, Transfer is more than 90% of DUST activities.
After the transfer, the most activity is related to account creation, which accounts for 8% of the activities with 7M tokens.
Over time, the most activity after the transfer has been related to create, so that on September 4 of this year, more than 2,800 related transactions were registered.
DUST Holders
More than 55% of DUST holders have less than one token, which means 23k holders have less than one DUST. The positive thing is that there are 1,700 holders who hold more than 1,000 DUST, which are considered loyal. The most DUST holder is (deadUjmd37YNDcnz8mMtWS3abhA2k4tb6GJFCToT4QT). This holder has more than 22m DUST tokens.
