11min

Overview

Welcome and thank you for joining MetaBrands.io

In order to make the process as simple as possible, we've created a manual and will keep this updated with the most common questions or issues someone may encounter when interacting with MetaBrands.

1. When is MetaBrands/MAGE Token Launching?

MAGE token from MetaBrands is currently not listed. Uniswap listing is anticipated to be late-November / early-December.

2. How do I acquire MAGE Relic NFTs?

MAGE Relic NFTs can only be created by using MAGE token on the Ethereum Blockchain. There are 3 different MAGE Ranks or MAGE Relics that all require different levels of MAGE Tokens to be burned in order to mint. For example, Master (10,000 MAGE), Oracle (25,000 MAGE), and Archmage (50,000). MAGE Relic NFTs are upgradable to the highest rank, Archmage. At the moment, MAGE Relics can only be minted on the official NFT Minting Portal on the MetaBrands website. Since they are ERC-721 tokens, they are also transferable and tradeable (OpenSea).

3. Where can I learn about MAGE Relic requirements and benefits?

This information can be found on the Utility NFTs page in the MetaBrands White Paper.

4. Do MAGE Relic benefits and perks "stack" or compound?

There are different use cases in which the MAGE Relic NFTs are stackable and compound and then there are other environments where having just 1 MAGE Relic NFT is sufficient and no additional benefits can be added on top. For example, owning multiple MAGE Relics in one ETH address will provide compounding benefits for the Monthly Yield Airdrops. For MetaBrands Ventures, MAGE Relic NFTs do not stack and allow people to have multiple allocations for one individual.

5. How do I participate in the DAO?

All token holders will be able to vote with voting power at a ratio of 1:1 meaning 1 MAGE token = 1 vote count. Only relic holders can create and submit proposals. This protects the resource DAO by ensuring the quality of the proposal is from committed members with a positive vested interest in the growth of the resource DAO.

6. How is the Treasury managed and who controls the funds?

The treasury is managed and governed by the DAO Advisors. The treasury is protected by Gnosis Multi-Sig Safe which requires a total of 3 out of 5 signature for any execution. These funds are used to participate or commit in new promising projects in order to grow and produce yield for all relic holders on a monthly basis.

7. What is the Foundation Fund and what is it used for?

The Foundation fund in the Tokenomics Map represents funds locked for 2-3 years and is reserved for the members of MetaBrands that have contributed the most to the project's foundation. In other words, any current or future DAO Advisor could solidify their spot as a what most would refer to as a "founder", but not predefined from the beginning. The model of MetaBrands is dynamic and based on commitment and contribution, which is largely why a DAO structure was chosen and utilized.

8. Who are the Core Team members?

MetaBrands has created its own model and terminology, which is why everyone was given the same title of DAO Advisor to represent equality. This does not mean every advisor contributes the same amount or is able to contribute the same. Every single advisor that was chosen either has and/or is actively contributing to MetaBrands. Additionally, the "DAO Operations" fund will support the "DAO Operators", which can be seen similarly as the core team. The levels of commitment are likely to change with current people and also with new people coming on board and that is why everyone shares the same title, but roles and tasks differentiate.

9. Who are the Co-Founders?

The term and title of "Co-Founder" is not used within MetaBrands like a traditional, corporate model because MetaBrands was established with a large group of individuals, all around the world, that have been working in the space for many years together. MetaBrands is unique and enjoys the path of innovation to see what new models and systems can be created that are more in alignment with the project's vision and mission.

10. Why was Ethereum chosen as the base foundation for MetaBrands?

Ethereum provides the necessary tools, accountability, accessibility, users, developers, and resources needed to fit the scope of MetaBrands. Specifically, the top Metaverse-based ecosystems are currently on Ethereum and MetaBrands requires a direct link to these projects and ecosystems in quick and seamless manner. MetaBrands will expand into other blockchains and ecosystems, including bridges for the MAGE tokens and also for the MAGE Relic NFTs. The entirety of MetaBrands will not be limited to Ethereum or any blockchain, platform, or ecosystem as a whole.



Updated 29 Dec 2021
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