Update on Petroleum DAO NFT, IDO and Roadmap

In this brand new article, the Petroleum DAO team will share with you the latest news about NFT, IDO and roadmap.

I. NFTs Mint

Launch Time: To be determined, maybe next week.

We are still waiting for the designer to complete her artwork. Our team has now completed the development of Mint DAPP. When the designer finishes her artwork, we believe everything will progress faster in the future. Our team has already started developing Stake/Bond DAPP, and now we are in the phase of basic adjustments.

Art elaboration

We have posted drafts of some characters on Twitter and Discord. As we said before, our team has been preparing for designing the NFTs and drawing up the contract before our Discord channel was opened.

We conducted research on most of the popular NFT projects this year, and summarized them into the following categories: pixel, 2D avatar, 3D modeling and rendering, animal, project theme (such as the universe planet, plants, and so on), traditional industries entering the NFT field, code interaction, art, etc.

Among the many categories, we chose the art category. We believe that art has the most value in collection. There is no constant standard. In Petroleum DAO, it is completely valued by community members’ understanding of an artwork.

Our painting style is inspired mainly by the linocut prints, pop art and the poster art from the mid-20th century. It blends well with the overall style of Petroleum DAO. The highlights are primarily composed of yellow, while the dark parts are primarily composed of black. It seems to be a simple graphic work, but in fact, the sharp contrast of light and shadow makes the character prominent and more three-dimensional. The depiction of details shapes the characters vividly. At the same time, we also consider changing the background to the same style as the Homepage, so that you will get a different background effect by dragging the mouse on the artwork. It can be oil, water, or flowing air… As long as you use your imagination.

II. Features of NFT and IDO

•You can regularly get unlocked OIL tokens.

The price of each NFT mint is 2 AVAX, and each NFT will get a locked 48 OIL tokens.

Unlock time: Before adding liquidity, first it will unlock 10% of OIL token. One week later, it will unlock 40% of OIL token. After two weeks, it will unlock 50% of OIL token.

The IDO price of OIL token is 25 MIM, unlocked, and the price when launching is 50 MIM.

During the IDO, all whitelisted community members will have the opportunity to purchase up to a full allocation of 500 MIM (20 OIL).

All IDO funds will be used to add liquidity and treasury.

•Holding NFTs will allow you to earn additional OIL tokens every week.

※Worker: Receive 1 OIL Token weekly

※Engineer: Receive 2 OIL Tokens weekly

※Accountant: Receive 4 OIL Tokens weekly

※Director: Receive 8 OIL Tokens weekly

•Holding any 4 NFTs will make you eligible for our whitelist.

•Holding any 8 NFTs will unlock hidden characters in the game.

•During the IDO, community members of holding any 8 NFTs will have the opportunity to purchase up to a full allocation of 800 MIM (32 OIL).

•During the IDO, community members of holding any 16 NFTs will have the opportunity to purchase up to a full allocation of 1500 MIM (60 OIL).

Before IDO starts, we will take the snapshot to determine the whitelist allocation and who will get the locked OIL token.

•We will have 4444 NFTs. Our team will allocate 5% of the amount to reward members who contribute to the community and airdrop. NFTs will be divided into 4 categories, which are Worker, Engineer, Accountant and Director.

Worker — — 50% — — 2222 items. Increases the speed of token production by 5%

Engineer — — 35% — — 1555 items. Increase the speed of token production by 10%

Accountant — — 10% — — 444 items. Increase the speed of token production by 15%

Director — — 5% — — 223 items. Increase the speed of token production by 20%

Funds allocation of NFT

•Petroleum DAO Treasury

•Provide OIL/MIM liquidity for Trader Joe

•Direct funding to support the core development team’s operation and project development.

III. Using Avalanche for the NFT mint

The NFT mint will be held on Avalanche, an EVM-compatible chain with incredibly fast transaction times (just seconds) and cheap transaction fees (below 30 cents). Petroleum DAO will operate entirely on the Avalanche C-Chain.

To add Avalanche to MetaMask, click on the list of networks at the top of the extension window and select “Custom RPC.” Input the following parameters:

· Network Name: Avalanche Network

· New RPC URL: https://api.avax.network/ext/bc/C/rpc

· ChainID: 43114

· Symbol: AVAX

· Explorer: https://snowtrace.io/

Here’s a tutorial to help you set up MetaMask on Avalanche.

The easiest way to add funds to your wallet on Avalanche is to withdraw AVAX (the native token) directly from a centralized exchange (Crypto.com, Coinbase, etc.). You can also bridge from other chains using any of the following popular options:

· Avalanche Bridge: https://bridge.avax.network/

· Synapse Bridge: https://synapseprotocol.com/

· AnySwap: https://stable.anyswap.exchange/

· xPollinate: https://www.xpollinate.io/

· ElkDex: https://app.elk.finance/

Important: You will need AVAX in your wallet to perform transactions on the Avalanche C-Chain. If you bridge non-AVAX funds (USDC, WETH, etc.) onto Avalanche and have no AVAX in your wallet, you will not be able to perform any transactions with those funds.

Currently, there is no “faucet” for the Avalanche chain for supplying small amounts of AVAX. However, if you bridge over more than approximately $75 worth of tokens via the Avalanche Bridge (which only connects the Ethereum mainnet to the Avalanche C-Chain), the bridge will automatically airdrop a small amount of AVAX into your wallet. Another alternative is ElkDex. ElkDex provides the option to swap a small amount of the bridged token into the native chain token for transaction fees.

IV. Recent Updates

1. Our team has completed the development of Mint DAPP, and is currently working on modifying the contract of Stake/Bond DAPP.

2. We have designed the basics of the game. We have a clear purpose for metaverse, which should not only be limited to play to earn, but should also include creating content and interaction between people. This new world belongs to everyone. A simple game design may be too simple for our future plans and complexity.

3. We will consider cooperating with the review agency to verify the contract before launching the Stake/Bond DAPP, so that our community will feel more assured.

4. We are considering establishing a marketing team consisting of full-time personnel for about 5 to 7 members.

5. We are considering cooperating with some influential communities to strengthen the Petroleum DAO community.

6. It will be more difficult to apply for the whitelist spot. Please cherish the whitelist spot you have now.

Contact us

Discord: discord.gg/RzaaDJyWVu

Twitter: https://twitter.com/PetroleumDAO




Welcome to the PrtroleumDAO Metaverse. This is the world of oil.

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