By EsotericLarper
Foreword
It’s an interesting time in the crypto market. 98% of the tokens shown on Dextools top trending list are Zero Utility Tokens (ZUTs) who never quite live up to their promises. There are so many NFT marketplaces in development right now that every solidity developer must be too busy creating them that they don’t have time to work on anything else, so people continue to create ZUTs to keep the market going.
Now, there’s nothing wrong with a good ZUT. I’ve made plenty of money on them, they’re a fun little gamble, and every now and then you get one that comes along and really builds a community that propels them to the moon, funds development and actually creates things on top of the token itself.
The problem with Zero Utility Tokens is that they have a tendency to rug. Removing liquidity, disabling sells, dumping team tokens, minting — there’s plenty of ways to rug a token. Thankfully for us, our developer Morpheus came along and made Great Ape, a completely un-ruggable token. There’s a lot to worry about in crypto, from China cracking down on Bitcoin mining to Elon Musk remembering he has a phone, but at least when you put money into Great Ape, you know you’re in safe hands.
Back on the topic of Zero Utility Tokens, I’d like to introduce a concept that I hope will evolve Great Ape from its current ZUT state: Ape Sales (patent pending).
The Platform
The general idea behind Great Ape is a simple but powerful one: it cannot be rugged. The LPs are burnt automatically during the launch, there’s no owner functions to worry about, and no way for the token to become unsellable.
That, by itself, only lets Great Ape be an un-ruggable ZUT. But what if we could export the features of Great Ape to a larger part of the crypto market? Imagine if every new token was made in the same way as Great Ape: Completely un-ruggable. Every INU, AKITA, Rise, Ever and Ethereum clone launched via the Great Ape method would be guaranteed to never have its LP pulled, have the token become un-tradeable or the fees to be re-routed. No marketing wallet dump, no secret dev fee sucking up buy pressure, no blacklisting.
The way you create a token to be launched on Ape Sales will be pretty simple: using our token building app, you’ll create the token to your specifications. During testing and for launch, this will be limited to fairly simple features, such as total supply, reflection fees, liquidity fees, optional token burn, and an optional donation or marketing wallet fee.
After creating it, you will then be able to list your rug-free token on the Ape Sales platform. Here you can select the amount you wish to raise, the amount of the raise that goes into liquidity, and the presale timer.
You may notice that, in comparison to DxSales or Unicrypt, there is no listing price or presale price option. We believe that presales should only be for initial liquidity raising, with no other advantage than listing price given to presalers. This comes from the spirit of the Great Ape launch, which was actually raised completely by donation, with no one receiving tokens at all.
As a user of the platform looking to partake in Ape Sales, the user will be given all of this information, similar to how DxSale provides its window of technical information, and its sidebar of warnings.
Giving Great Ape Utility
Now you might ask, how does this turn Great Ape into a non-ZUT token? Without getting into a philosophical debate on the nature of utility, and just letting me get away with defining it as “a token with more interactions than just buying and selling”, the Great Ape token will be benefiting from the Ape Sales Platform in a couple of ways:
1: For the duration of testing, soft launch and for a (as yet undecided) period of time after launch, Great Ape tokens will be required to be held to take part in sales on the Ape Sales platform. This won’t be a requirement like you see in IDO or Launchpad platforms with tiers; we just want to give people who have stuck with us so long a first crack at the platform.
2: The main benefit to Great Ape of the Ape Sales platform will be through the function of a token being launched on the platform. For each token launched using the Great Ape method on our platform, a certain percentage of the raised BNB that does not go to liquidity (that is, the creators portion of the raised BNB) will be used to buy Great Ape. From there, 50% of the Great Ape will be burnt forever, and 50% will go to the Great Ape Perpetual Treasury (0x64d721A2ed721e43c2c4a341bfEE885c9eE03147).
Note: For those who don’t know, the Treasury contract is built in such a way that the principle deposited (sent to the contract using a specific method) cannot be withdrawn. That is to say, only the reflection generated by the contract can be withdrawn, the principal (deposited) amounts are locked forever.
Also for those curious, the beneficiary of this Treasury is a wallet controlled by a multisig that is comprised of myself (EsotericLarper), Rust, Cryptony, LMNO and Nickhhh.
Conclusion
It’s been a fun ride so far in the Great Ape community. We saw a massive pump at launch, another surge once we began marketing and lots of organic growth, interest from ZUT whales and gained a bunch of loyal community members from our Fairmoon airdrop. I hope that we continue to keep the community growing and together make a better sales platform which will bring much-needed security to fellow ZUT enthusiasts.
The Great Ape Sales Platform is currently in development. More info will be posted on our social profiles and website when ready:
Website: https://greatape.cc/
Twitter: https://twitter.com/GreatApeCrypto
