[Introduction] Fritz: DeFi INDEX wrapped as a MEME

Hello Hello fam :love_you_gesture:

Hope everyone is going great :dog:. Today I take the opportunity to announce the kick-start of our own MEME token by celebrating the website launch today:

Token circulation supply is fixed to 21,000,000. Explore token to check we already have more than 130 transactions before the website launch.

Ref Finance liquidity pool is live as a way of running an airdrop, as IDO is still to happen. While writing this, the token is available at around $0.001 USN and a market cap of $21,000 USN.

Value Proposition

  1. Improve ecosystem support by adding liquidity to the projects with the FRITZ DeFi solution
  2. Feature the NEAR ecosystem as the home of the 3rd more valuable MEME token
  3. Evolve our trading on-chain community

Considering

NEAR native token value is connected with the number of transactions in the NEAR network, but that’s not the only value we are building; many projects within the NEAR Ecosystem are offering excellent web3 services and growing their market cap, like Ref, Meta, Paras, and Burrow.

Suppose NEAReans wish to support the NEAR Ecosystem and get profit from the market cap growth. In that case, they will have to review and choose different projects, decide the funding allocated to each project and manually perform each swap.

Solution

Create an INDEX for the best projects within the NEAR Ecosystem and market it as a Meme.

  • What is an INDEX?
    In finance, an index is a group or basket of securities, derivatives, or other financial instruments representing and measuring the performance of a specific market, asset class, market sector, or investment strWhat.
  • What is the purpose?
    Bring liquidity to a chosen list of web3 projects running on NEAR. The INDEX token named FRITZ will show value according to the holding of the ecosystem tokens inside the FRITZ smart contract basket.
  • How the list of web3 projects for the INDEX will be chosen?
    A trading group leading this initiative will review the projects and make decisions over the portfolio management using Aa stroDAO as a tool.
  • How the smart contract is going to work?
    Each time FRITZ is bought from the Smart Contract, the funding is used instantly and automatically purchase Tokens from pre-selected web3 projects like REF, META, PARAS, and others.

Clarification

Instead of manually buying 50 different web3 projects running on NEAR, the user can just deposit $NEAR into the smart contract, which is used instantly to buy ecosystem tokens from a list available on-chain; those tokens are saved in the smart contract, then a withdraw of $FRITZ token from the contract, which is deposited into the wallet of the user.

Napkin Idea - Simple explanation

In addition, from the following diagram, it can be seen that the list of tokens to be saved in the basket occupy different size spaces or percentages of the holding. Meaning the DAO can decide to diversify the holding with different weights for each token.

Process Diagram - Complex explanation

For example: 10% of the basket could be REF tokens, and 5% could be META, with another 5% for PARAS and the rest 80% between 80 other tokens with 1% participation each.

Why the name Fritz?

  1. Because of the creator of the idea =)
  2. Cause the name itself is a joke by now. Because all Germans were called Fritz around 100 years ago.
    Once 3 Italian girls mocked me when asked my name and then started laughing, saying “Amigo Fritz” several times, which translated as “Fritz Friend”. Later I found out that some Italians use “Fritz” as a word used to designate any person whose name is unknown or not interested in specifying.
    If you watch world war movies, you might spot that the Allies called Fritz to all Germans.
  3. Overall, it is a good name for a Dog :dog:

Why a MEME?

Branding purpose, for promotion and exposure.

We are inspired by the $9 billion dollars market cap of dogecoin.

Dogecoin was born as a joke, making fun of all other Cryptos:

But the Community laughed last by buying and running the project into what is now.
The founder of Dogecoin sold out all the tokens and bought a Honda Civic :joy:

The Crypto Community demonstrates that blockchain technology is the tool for a financial revolution giving freedom to all, and also proves there is a lot of dumb money out there. :grin:

Now, is very funny that memes like DOGE or SHIB can be worth $9 and $6 billion dollars, respectively. Proving we are all having fun, we are all in this space to enjoy, relax, and of course, build together.

By launching an INDEX for the NEAR Ecosystem and presenting it as a MEME, we are having fun mocking of MEME tokens, and we can easily be featured as the 3rd more valuable MEME token on coinmarketcap with just surpassing $200MM USD market cap. In the end, this will grow the exposure of the NEAR Ecosystem.

Revenue model

By farming, the DAO treasury will be used to provide liquidity.

Roadmap

  • September 2022: Smart Contract on Testnet
  • October 2022: NFT Collection Launch
  • November 2022: Mainnet Launch & DAO organization
  • December 2022: Token Campaign & IDO
  • January 2023: Coinmarketcap Listing

Request

Near Foundation Grant

Looking for a Grant where all the funding is used to buy tokens from the NEAR Ecosystem projects. The Grant purpose will be to deposit enough tokens into the smart contract basket, therefore creating backup value that will allow our MEME market cap to surpass Dogelon Mars (ELON).

Top Meme Tokens by Market Capitalization

Community Support

NEAR is amazing because we all support each other, so this time I came to share an idea and hope to be able to count again on your support.

  • @KriptoRaptor from the Concierge could we launch an airdrop to the most active NEAReans?
  • @MarcusNEAR Ecosystem Success Team could support and coach the project?
  • @amgando could we onboard this project as a DiR with NEAR University?
  • @Dacha could we have a meeting with the Marketing DAO to discuss how this could help NEAR marketing in general?

Partnership proposals

Disclaimer

Still in the early stage; thus, many details are still TBD.

Smart Contract: Allows automatic and instant swap. Holds and protects the funding basket.
DAO: On-chain trading community with rights to decide which tokens are added to the basket.
Core Team: The project builders add value through smart contract and web development, trading community building, partnerships, product growth, financial strategies design, and others.

  1. At the moment, only the Token is on mainnet
  2. 80% of the tokens will be deposited into the Smart Contract once is launched on mainnet
  3. 5% of the tokens will be distributed as an airdrop to the community
  4. 15% of the tokens will be used to fund the development of the project
  5. Smart Contract holdings can be subject to swaps upon DAO consensus
  6. We plan to build decentralization for the DAO by launching an NFT Collection where holders will own voting rights
  7. The DAO will receive 5% from each swap for management, further development, and even other investments such as venture capital
  8. Once the 21,000,000 $FRITZ tokens are in circulation, the INDEX is fully mature
  9. DAO could decide to swap tokens if there is a need to delist some tokens and list others
  10. This is not a project to make some people rich, this is not financial advice, and the whole idea is to help to promote NEAR and provide Ecosystem support while having fun

Tokenomics

Categories Allocation Release Schedule
Smart Contract Basket 80% Through website swap
Private Fundraising 5% TBD
NEAR Users Airdrop 5% TBD
DAO Treasury 3% TBD
Core Team Incentives 1% 2-year linear release
IDO 1% TBD

=) Still many things to figure out; let’s do it together

image

28 Likes

this is a good catch. and overall an interesting well studied idea

4 Likes

Great idea, @FritzWorm :clap: Also, the website looks really good. My only concern is with the combination of tokenomics and branding. Let me explain why. An Index token I think represents something very professional in that it usually aggregates the best companies from an industry. A Meme token, on the other hand, is basically seen as a “pump and dump” scheme.

In addition, meme tokens have a very high token supply and low price. This is because many people are thus encouraged to buy because they hope for a higher price. This is not the case with an Index token, so while I don’t see the tokenomics being wrong for an Index token, I think the branding can.

This is just my opinion from my experience over the last few years. I still think the idea is very good and wish you much success with $FRITZ. :rocket: :dog: :pray:

4 Likes

hello friend :slight_smile:
i’m reflexing on it the second day, and want to ask for some clarification, if you’re ok with it :blush:

  1. why to make new meme coin, if there are already a number of them?

for example, i wish to explore how it all work with meme coins for the community, but how to study from new coin that doesn’t have previous experience?

  1. i’m sure you know many projects on NEAR
    like NEKO https://twitter.com/goodfortuneNFT is not new for you - it works well (if to see numbers of followers on Twitter and Discord - NEKO )
    website is also beautiful and useful https://stake.nekotoken.xyz/

the question is - why you don’t take existing trustable, working, nice meme coin to study community how to involve it into projects ?
mostly people from Creatives don’t know, what to do with it. they need with explanation and new clear experience, so they could start using it in future, then - mass adoption ))

but sorry, i don’t like plagiarism (husky-fritz is better then DOGE ?? not the best way to start from comparing with the coin that has huge community by my opinion)
especially without past experience - how to trust the coin?

:pray:

Thank u very much for your feedback :white_check_mark:

You are totally right hehe, so the idea is to exploit the unimaginable result from Bitcoin: DOGECOIN and the next iteration… Shiba Inu. Jokes worth Billions.

Let’s exploit the huge coverage Meme tokens have, the great exposure non-blockchain users, but dumb money investors have to these ones by getting fast into the 3rd position for the meme category with a NEAR ecosystem token.

The faster way to get there is with a backed token; just by backing it with $200.000 USD you get into the 3rd position, and that backup can be done with a great INDEX service, making it the next iteration of a joke, an actually useful joke.

Hehe yeah, we will flip their heads; this is a fixed supply and backed, more similar to a stable coin in functionality, but branding as a MEME, so maybe we could also help to educate the newcomers about the importance of the market cap and tokenomics instead of the price.

This is all experimentation; what could go wrong? how much can be lost? and how much we can win from exploiting the opportunity to be in 3rd place quickly and taking over the market of Doge and Shiba. It is worth :100: the little effort.

2 Likes

Not so many, I mean, at least not enough successfully, as we can easily take over the 3rd place.

Hehehe yeah, Dogecoin has a huge community of people having fun and also dumb money =)

You missed the whole meaning of Dogecoin, Dogecoin itself borne making fun of Bitcoin in a way you could sense the same plagiarism, as Shiba and ELON later same, watch again the Doge video :wink:

No financial advice :cowboy_hat_face: Hopefully we will get an audit for the smart contract as soon as possible (step by step), and as you can see from the presentation it will be backed by ecosystem tokens

3 Likes

you didn’t get me :slight_smile:

all this is not interesting at all, i don’t intend to give my attention towards to scam. and your token is accepted directly the same way, when you start from comparing to DOGE - it looks like the same scam

finally

it’s too self-righteous with such a name of coin,

anyway let’s see :slight_smile:
i continue studying NEKO , SHITZU and other interesting projects :wink:

1 Like

Mhh, interesting approach, I am eager to see if it works that way :metal:

3 Likes

Not logic at all, you support one MEME, but another MEME you can call Scam?

and then


I will not call your Meme a scam, I hope you have fun with yours.

Yeah, now I am more confused because cant see if there is real value addition to the conversation but just attack and then saying that your MEME is do interesting… seems spam :triangular_flag_on_post:

You make me think your intervention is also emotional because I closed the following proposal, and you take it personally:

Just let you know, I never took any decision, the Creatives DAO moderators had internal polls with 5 votes of 10 you could get approved or rejected in the forum, but you can always go directly to AstroDAO and ask for the council’s support as I wasn’t a council.


So, please

Don’t make things around here personal, let’s try to enjoy our time here and build the web3 :vulcan_salute:

4 Likes

Oh friend
I’m forgetting about 1 closed proposal for friends among others 10 approved cause so much work is going on after! :orange_heart:
No emotions, I’m staying in bed with temperature ,no energy for emotions, just only can think of what is useful and what is useless :pray:
Didn’t want to hurt you
Wished to understand what is the utility from the coin for people from ecosystem.
And also, that is would be amazing if someone prepares a coin to study community how to use it for community purposes

Peace out

2 Likes

EngiNEAR with great ideas as always :sunglasses:

4 Likes

We from the @Merchants_NEAR just had a meeting today and will discuss the Meme Index token concept further in the coming weeks. So happy to see where this initiative is going. Any ideas regarding tokenomics or other areas are very welcome.

4 Likes

I like this idea!
what I see here is a totally different meme token. 21M limited circulating suply instead of billions like the others!

acting as an index of several NEAR projects :+1:
supporting those projects at the same time!

I’ll buy some of those tokens to support this idea, to have fun by participating, and to become one of the first FRITZ hodlers :wink:

in the NEAR future, they will represent an invest on our own community. :slightly_smiling_face:

thanks !

1 Like

As a Merchant Guild Council, I support the idea.
We are the unofficial NEAR telegram group and with a project like this and a DAO we could function similar to a Community Venture Capital building more decentralization, driving NEAR Protocol from the community, supporting projects, and enhancing NEAR Marketing.

Interested to know more.
Thanks!!

2 Likes

Let’s see If i can use this crappy software writing and attach a gif

Wow I did!

If your afraid of Crypto Winter.
Here’s a solid and strong comrade to help you through the cold and snow.
$Fritz #Husky

This is a great idea :bulb:

3 Likes

These is really Interesting to know, that we will be having our meme coin :heart:
Happy to Support your @FritzWorm , let’s Build the Community like Doge,… You will be our Elonmusk

3 Likes

Honestly this is a great idea nice one @FritzWorm :clap:t5:

But concerning what @Kemal said about it being a meme and and index
He made a point

1 Like

I’ll love to be a part of this project
You have my support
I’m eager to see this project thrive :100::fire:

1 Like

Hey @Alvin, thanks for your feedback. We are still in the concept phase of this initiative that @FritzWorm started and will discuss this topic again internally. If you have any ideas, feel free to share them with us. :beers:

2 Likes