- The Solana NFT collection ‘Le Cougar Clique’ will be launched by Cyclos in collaboration with Solatars.
- The Le Cougar Clique NFTs will be available in a batch of 10,000 hand-drawn Cougars.
- The coin will be released in early December as part of a cyclos.io minting event.
Cyclos, a Solana-based concentrated liquid AMM, has announced a collaboration with Solatars to launch Le Cougar Clique. Le Cougar Clique is a one-of-a-kind NFT drop tied to the CycloSwap DeFi platform. So what is the mechanism behind it? Le Cougar Clique ties NFTs to DeFi via a ‘culling’ mechanism that deflates the NFT supply to reduce scarcity.
Cougarnomics is a deflationary mechanism that relies on the CycloSwap platform’s earnings to burn through the current supply of Cougars. Following the mint event, 25 percent of CycloSwap platform fees and 15 percent of Cougar sale royalties will be used every two weeks to ‘cull’ the weakest Cougars.
The platform will buy back the NFTs from the market at the end of the mint event and then destroy them. The liquidity connection for Cougars is notable in that one-quarter of the royalties received from Cougars will be utilized to purchase CYS. As a result, it will be staked in liquidity pools, and the Cougar Clique DAO agency will receive a share of the CYS token supply.
Le Cougar Clique NFT will be released in a batch of 10,000 Cougars, according to the team. All of the NFTs will be hand-drawn in partnership with the Solatars team, which is unusual. The date will be announced in early December through a cyclos.io minting event.
Jason O’Brian, a co-founder of Cyclos, explains what the company hopes to accomplish with Cougars.
By linking the supply of Cougars with Cyclos, our aim is 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.
On Solana, Cyclos is the first automated market maker with focused liquidity. By adopting the powerful concept pioneered by Uniswap V3, Cyclos may enable any form of pair, from basic stablecoin-to-stablecoin exchanges to unique tokens. In addition, users can choose a price range within which they are willing to construct markets with concentrated liquidity, allowing them to get LP benefits with a fraction of the cash required previously.