Cherry

ALPHA : @themutualfun by @Kingpickle Everyday we see something interesting on Robinhood Chain. This one is no different. Instead of one traditional fund manager deciding where the money goes, a limited group of NFT holders collectively participate in investment decisions. The basic idea is: People buy Seats >> Seats belong to different funds >> Seat holders vote each week >> Funds invest on-chain >> Profits/dividends can accumulate for participants. It is designed around the idea that the community, rather than a central administrator, controls the funds. The ecosystem is built around two main NFTs : Seats There will be 4,001 Seats. A Seat is the main membership NFT. Each Seat is associated with one of the project's five funds. Owning a Seat is intended to give you access to things such as: Weekly voting on your fund's investment direction An onchain Briefcase where dividends can accumulate Participation in ecosystem activities The ability to potentially convert the Seat into $TMF However, simply owning a Seat isn't enough. You must pay a one-time enrollment fee to activate your voting and dividend functionality. TMF Passes There will be 2,000 TMF Passes. These are soulbound, meaning they cannot be transferred to another wallet. Each Pass allows its holder to mint 2 Seats. The are plans to build a UGC application around the Passes. Each Seat is assigned to one of five funds. There are five different funds, and each Seat is assigned to one based on its NFT background trait. The five are : BAGEL LADDR HAGGL GRAVY BOGLE The interesting part is that Seats are tradable, so you can move into a different fund simply by acquiring a Seat with that fund’s background trait. This means holders can choose which fund they want to be part of as performance and composition change. So what does a Seat actually give you? Think of it as your membership and voting position in a fund. ➜ Vote weekly on your fund’s investment direction ➜ Receive potential dividends through your on-chain Briefcase ➜Convert your Seat to $TMF at the stated rate of 401,000 $TMF per Seat ➜ Convert your Seat to tem activities like the Mailroom for additional rewards $TMF is a separate part of the ecosystem and is planned to launch through StonkBrokers’ Smart Launch. Created by @Kingpickle, who was previously involved with DENGSonApe and other projects within the Ape ecosystem. @what3verman was recently announced as Head of Operations It is said that 50% of the allowlist spots were reserved for DENGSonApe holders through a loyalty system. There’s still a lot that hasn’t been finalized yet including mint price, mint date and some of the mechanics are still TBA. Still, I think the underlying experiment is worth paying attention to I’m really curious to see how this works out and, more importantly, how it evolves once everything is live. The concept sounds solid , so I’ll definitely be staying close and watching how @themutualfun plays out. You should too .