When we launched ᖽATH one of our goals was to create a fun and safe environment for degens to degen. You see, prior to the launch of ATH, Degen Chain looked a lot like this…
So we decided to do things differently. We launched with 0% (yes, Zero) team allocation. We allocated 20% of the ATH supply to our holders for airdrops. We committed a juicy 70% for the LP. By investing our own funds—10% of the initial liquidity, we put skin in the game. We also put our credibility on the line, as known builders and creators in the crypto world and beyond.
If that isn’t enough, today we’re also excited to announce that ᖽATH is the first project to lock our funds in a SAFE multisig. These are the tokens that will be airdropped to all ATH holders once we hit ATHs on $degen and $ATH. You can see the transaction here.
Our multisig requires 3 of 5 signers, who are:
An impressive list we hope you'll agree! By doing this, we're proud to say ᖽATH is also the first onchain treasury on the L3. Fun fact, we actually deployed this SAFE from within a frame (what a time to be alive), so if you’re building on L3 you can also make use of this amazing tool from our friends at Palmera here.
Having tools like this available is crucial, as currently Degen Chain Layer 3 is living up to its name. It's, well, the wild west of incredible degeneracy. While projects like ATH and Wake are growing, backed by credible teams, the ecosystem is not without its challenges. We’ve seen lots of rugs, exploits and outright scams, so it’s pretty hard to stay SAFU. That’s one of the reasons we also created the Degen Chain OG group chat on Warpcast, to help each other stay safe and share interesting new projects as they emerge.
ᖽATH has been here since the beginning of Degen Chain, we’ve amassed nearly 1000 holders and a strong community across the interwebs. We're currently participating in the 'Deploy on Degen' week, gearing up to roll out an exciting initiative that we can’t wait to share with you! There are also lots of other great projects building on L3 which makes us confident we’ve picked the right ecosystem to grow within.
As first movers on Degen Chain, we see the enormous opportunity in front of us all. The chance to create a dedicated low-fee, high-speed, L3 ecosystem for degens to have the time of their lives. We also really believe that this can only be possible by supporting credible teams, with skin in the game, solid tokenomics and a commitment to safety––exactly like the Degen project itself that sparked all of this into life.
All in all, things are shaping up really nicely. ᖽATH is SAFU, we’re building the future on Degen Chain, and getting ready for the day where we see new ATHs on $ATH and $degen. It’s going to be a lot of fun.
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