Cyclos, a concentrated liquidity market maker on Solana and Solatars, a collation of generated avatars living as NFTs on Solana, will be working together to launch Le Cougar Clique, which will be tied to the CycloSwap DeFi platform.
The Le Cougar Clique NFTs are all hand-drawn in collaboration with the Solatars team. Reportedly, the NFTs are scheduled to be released in batches of 10,000 Cougars, and the release is set for early December through a minting event held on cyclos.io.
Notably, the Le Cougar Clique was created to connect NFTs to DeFi through a culling mechanism called Cougarnomics. This mechanism is designed to deflate the NFT supply in the market to create scarcity. Couragnomics relies on the CryptoSwap platform revenue to burn the existing supply of the NFTs.
While commenting on the launch, Jason O’Brien, co-founder of Cyclos, stated:
“By linking the supply of Cougars with Cyclos, we aim to create a virtuous cycle between the two products and their communities. As the Cyclos ecosystem continues to expand, so too will the utility cases for the Cougars. Our intent behind founding the Cougar Den (the DAO behind the project) will be for the community to collaborate on developing future use cases together with the Cyclos team.”
One thing to note is the platform’s plan to use 25% and 15% of CycloSwap fees and Cougar sale royalties, respectively, to cull the weakest Cougars. Cyclos plans will be done every two weeks following the minting event.
In addition, one-quarter of the proceeds from the Cougar royalties will be used to purchase CYS, Cyclos’ native tokens, and stake them in the liquidity pools. The process aims to give Cougar Clique DAO agency a portion of the CYS token supply.
Launched in 2021, Solatars is a collection of 10,000 generative dope arts. These arts have over 140 traits across eight categories that represent the user’s cyborg-self, which will invade the Solana blockchain.
Cyclos was created with the duty to allow liquidity providers to fine-tune their positions in the market, offering much more precision and cost-effective active management. The platform uses a concept pioneered by Uniswap V3 to support all types of pairs, be it basic stablecoins, stablecoin swaps, or highly exotic tokens.