One Hundred X - 100x - x100 - HundredX - Hundo
Yellow Highlights are initial numbers thrown out - can change these based on feedback
Background
Manifest has gotten a $10k grant to deploy something on polygon. While zksync is our premier
partner and scaling solution we can expand onto other chains via new labels. Each label is
essentially a franchise of Manifest. Sharing profits, tokens and community with the core brand.
So what is our label on Polygon? Polygon is fast becoming the place for ReFi (thanks to
KlimaDAO). I propose the brand “One Hundred X”. A streetwear brand that offset all of its items
by.. 100X.
By some estimates the lifetime carbon footprint of a shirt is around 10 kg. So a 100X is 1 Tonne.
Easy and cheap to offset at these prices.
100X is also a crypto meme, we all know that we are only a few hundred X’s away from buying
modestly sized houses and quitting our day jobs.
We make offsetting en masse cool.
100X could be the “store” for klima. We can continue to do partnered drops with Klima
DAO. Sharing profits and running the backend -> 100X is the MaaS for Klima. If Klima is
interested in this.
We can price items in klima (if klima is ok with the contracts being written to sell some of
the funds to stables instantly, so we can always cover manufacturing costs).
100X genesis.
We drop 9999 sock NFT’s on polygon. Each sock offset by 1 tonne of either BCT, MCO2, UBO
(if available at launch)
Funds from socks go to manufacturing the socks, development and marketing of the front end,
and funds back to Manifest.
Price point is around $100, can accept klima (see above), directly in CO2tokens, or in
ETH/Matic/USDC
Each sock comes with 1 “HUNDO” token. Note, this is a secret airdrop. NO materials or public
discussion communicates that there is a token.
Quick preliminary numbers on 9999 NFT’s
$100 each
$999,900 raised
$25 Manufacturing Cost each.
$249,975 cost
$15 offset cost (high estimate)
$149,985 cost
$30 token bootstrap
$299,970 cost
$30 remaining
$299,970 TDAO treasury.
Treasury Makeup
⅓ Klima tokens - This is to power future offsets, and as a hedge against rising offset prices
⅓ stables - safety fund
⅓ ETH/MATIC/GOHM - for ecosystem upside
See
https://docs.google.com/spreadsheets/d/1P6aEey9GiqUVPDMQvQ9uRsfBH6qIKfKRMN5UeaT
7rLA/edit?usp=sharing
for sheet that calculates pricing/amounts/etc.
Hundo Tokenomics
The hundo token uses the OHM bonding mechanic and the concave bond distribution of CNV to
stakers from bonders as well as bond redemptions for DAO/team funds at 50% of treasury
backing.
Hundo Bonds -> 1.5 Hundo minted per 1 hundo bond. 0.05 to hundo founding team, 0.15 to
Manifest, 0.05 to launch partners, 0.25 to stakers
Bonds only sold with a 1.55 premium to liquid backing
Bonding is aggressive, premium never to exceed 3-4X. There will be no 95%+ down ever on
this token.
Bonding discounts maintained with max discount modifier in bonding contracts -> ie, the
discount can never be greater than 5%
The NFT’s serve as a “bonding pass”. You can only bond if you own an NFT.
Price is protected under backing via IV bonds (can be coded later as required)
Proposed initial backing per token is $15, with initial lp price of $0.15 -> ie, the first 100X is
guaranteed. $200k in hundo treasury.
All NFT buyers get 1.33 tokens -> 13298.67 tokens
All current MNFST holders get 5 tokens - > ~1500 tokens
20% initial circ supply LP -> ~3000 tokens
Remaining in DAO -> 2202 tokens
Approx $100k USDC starting lp