Sublime Society #5: Launch Requirements

PLEASE NOTE THAT TOKENOMICS AND DISTRIBUTION MECHANICS HAVE BEEN UPDATED SINCE THIS ARTICLE WAS FIRST PUBLISHED. PLEASE REFER TO THE WHITEPAPER V1.0 FOR UP TO DATE INFORMATION.

“Start by doing what’s necessary; then do what’s possible; and suddenly you are doing the impossible.”
— Francis of Assisi

It’s not easy to take a bite out of a beach ball. That’s why, for the Sublime Society’s initial drive, we’re starting small.

There are just two primary requirements of the initial Sublime Society website:

• Distribution of $VIBES token
• Minting of SBTs

Distribution

There are three components to the distribution process:
1. Claim for $LSVR holders
2. Minting of SBTs
3. Club 432 daily auction

Everything will happen on single page interface comprising MVP functionality only. Namely:

• Connect wallet
• Create profile
• Mint & link SBT
• Links to Medium articles outlining process
• Links to Twitter and TG

The user journey will be straightforward as well:

• Users will be prompted to create an account
• The first step in order to do this is linking their wallet via Metamask
• The second step is creating profile comprising: Name, PFP, bio and email address (for communication purposes only not displayed publicly)
• The third and final step is minting their SBT

Genesis minting period

The Genesis minting period will last 33 days. When it ends, 30% of the available supply of $VIBES will be distributed evenly amongst each SBT linked to a profile account. Furthermore, each minted SBT profile will be offered a Genesis attribute badge to claim.

During Genesis, a bonus structure exists for wallets containing $EDGE tokens. This is our way of rewarding/incentivising those who help to power Sublime Society’s computational layer.

• 3% $VIBES bonus for wallets containing 100–999 $EDGE
• 6% $VIBES bonus for wallets containing 1000–9999 $EDGE
• 9% $VIBES bonus for wallets containing >10,000 $EDGE

Club 432

ETH donations (as outlined in our article on Tokenomics) are entered into a daily auction. The winner will earn a sequentially numbered Club 432 attribute badge (e.g. Club 432 #1, Club 432 #2, etc).

This auction will reset every 24 hours at 00:00 UTC. Each attribute badge comes preloaded with a 432Hz FREQUENCY score, which will be transferred to the linked account profile on claim.

Why would you want one? Each Club 432 attribute badge is allocated 1% of the total balance of Club 432 token holdings wallet, which will be community owned. Therefore, token distribution to Club 432 attribute badges will decrease slightly each day, but will go on forever.

Proceeds from Club 432 auctions will be sent to Sublime Foundation wallet for the first 69 days from launch. These funds will be invested in the first version of the build of Sublime Society OS and may also be allocated towards liquidity provision and buybacks/burns.

From day 70 onwards, proceeds of Club 432 daily auctions will be sent to Sublime Society community owned wallet, for the purposes of marketing, development, and other endeavours as decided by the community.

Club 432 tokens will be allocated to each of the 24 Sublime Productions team, one per wallet. Club 432 tokens will also be allocated to a Sublime Society Council, comprising 24 early active community members. Neither of these will come with an additional $VIBES token allocation however.

$LSVR claim

The claim period for holders of $LSVR will last 33 days, covering the same period as the Genesis minting period. During this time, SBT linked accounts will be able to claim $VIBES tokens available to them.

The total number of $VIBES allocated to each wallet will be determined by the account holder’s balance of $LSVR (based on a snapshot from December 24th 2022).

30% of overall supply of $VIBES will be made available for $LSVR holders to claim during the 33 day claim period. Tokens will be allocated proportionally to $LSVR holdings amount at that the time of the snapshot. We’re doing this for a simple reason: we believe that $LSVR’s community had something special; a drive, a purpose. And given the underwhelming performance of the project since its heyday, we wanted to provide its members with the opportunity to keep up the momentum we know they loved, and channel it into something positive once more.

Any allocations unclaimed at the end of the period will be burned.

The claim process has two stages. During the first step, users will have to claim their tokens through a contract signature. The second step will be to transfer the available tokens. Tokens will be made available for transfer through a vesting process; this unlocks tokens at a rate of 1% availablity each day for 100 days.

Note: Users pay gas fees for all claim transactions and currency distribution.

A pretty functional article this time around, folks, but a necessary one nevertheless. More to follow, as always.

Sublime Society