oooo what about a lambo or a moon or half? might be too …ya know. whats that word…
I personally don’t like the clown theme. Clowns are creepy…
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Ideas here are great and I dont want to pressure anyone but if market cycles repeat itself, now that btc pumped and alts stay cool I think not before long and alts will pump immensly.
Would be nice if $degen would be ready for that.
I personally like the clown face idea but looking at defi5 and cc10 logos I think it should be only a hint of clown in the logo (maybe the nose?) so we are consistent.
Attaching the logo we’ve been using in Discord just for reference. We could make the d on the forehead white if people like it.
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Yeah I think making it white would match the color patterns better
Helium or hot air balloon. Fast rising!
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Yeap, a ballon with a D instead of the clown might give a more credible/serious/sarcastic impression
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lets get this going soon boys
Would there be any requirements for performance of underlying assets? For example, if we add REN and REN spends the next month in a 1% range, would that be grounds to have the community discuss replacing it with a coin that has exhibited higher price movement over the same time period?
Understand the underlying idea is riskier, higher yielding small cap tokens, but what do we do if it’s a risky small cap token that doesn’t generate the price movement we expected?
I imagine it’d be a self-solving problem if we include sufficient candidates that are showing growth - REN would just get bumped out in favour of some other up-and-comer in that case on a reindexing.
After looking at the approximate weightings posted by @Norsefire on discord it seems strange to me why the token inclusion parameters wouldn’t be FC market-cap focused if weighing is based off of it.
Having any overlap between DEGEN and DEFI5 doesn’t seem right although I’m not entirely opposed to holding more CRV… $100m - $5b FD cap token criteria seems more inline with DEGEN
Yeah tbh curv is not really degen.
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DEGEN FTW looking forward
I’m very excited about this. Can someone explain how the initial value and then minting of the DEGEN tokens works. Do I just need to wait until the index pool is launched on indexed and then buy the tokens? Is my ETH swapped for DEGEN then balanced into the assets that compose the index by the sigma committee?
The initial value is crowd-sourced from a contract which credits the contributors based on the ETH value of the liquidity they provide (using a Uniswap oracle to price them), then gives out a proportional amount of the first 100 tokens to those initial LPs.
Once the pool is initialized, you can mint new DEGEN by providing one or all of the underlying tokens directly, or you can use the Uniswap minting interface, which finds the cheapest token you can provide liquidity with to mint a given amount of DEGEN, finds the optimal swap route on Uniswap to buy those tokens using ETH/DAI/USDC/etc., then executes all of that in one transaction (send eth -> buy underlying asset(s) -> provide liquidity to pool & mint DEGEN).
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Thank you for the explanation! Is there a benefit to being an initial LP (I’m assuming they’d earn NDX, but idk if there is incentive beyond goodwill)? It seems like the $500 target would get hit immediately
The incentive is just to get the pool started and mint some tokens - with this one it’ll probably finish the crowd funding in one transaction yeah, this is just a standard contract we use for all index pools to ensure the sigma committee / governance don’t need to already own all the underlying tokens to kick things off.
Gotcha, thanks for the rundown. I’m looking forward to getting involved when the contract is launched 
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Some mildly related comments
In my humble view, both $SUSHI and $CRV are at this point like blue-chip stocks.
I also (again matter of personal preference) I do not hodl tokens are continously printed, more often than not I harvest the rewards to reinvest the profits.
Finally, I strongly believe that underlying tokens should be working for us. Surely there are some farms that can welcome them. Holding $DEGEN tokens is so 2020, putting them to work is something I would greatly welcome 
Alternative vision
Really really really low key, undiscovered, super early stage projects:
- Just like here: https://www.polkastarter.com/
- And here: The Complete Guide to getting in Exnetwork by staking EXNT (token) | by Dric | ExNetwork | Medium
- Or DuckDao: https://duckdao.io/
(not affiliated with any of these)
If you like this vision, than vote with emoji 
(click heart on this topic) and I’ll prepare a fully fledged proposal…
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A great initiative @redphonecrypto …have been (re)reading / (re)listening all of your writing & interviews such that I give full justice to all the hard-work you’ve put in the past few months.
Where can I find the discord channel(s) for $DEGEN ?