What is Rug Radio? Rug Radioᴳᴹ is the first fully decentralized media platform.
What does this mean?
It means that our community, our hosts, and you, own the platform you consume from.
Why is it important?
Because we need to own the narrative and the memes. Together, we can build a network where the incentives favor truth, ownership and long-term care for the commons. Ownership means we each get to decide what we consume, how it's delivered, and we all benefit from the abundance created through it.
Membership Pass
Because we need to own the narrative and the memes. Together, we can build a network where the incentives favor truth, ownership and long-term care for the commons. Ownership means we each get to decide what we consume, how it's delivered, and we all benefit from the abundance created through it.
$RUG is a pure utility token which means it’s specifically designed to be used within the RugRadio ecosystem.
Rug Genesis
The RUG Genesis NFT is first collection of 20,000 token-yielding Utility NFTs that were available and minted by RUG Radio Membership Pass holders for 0.11 ETH. The Rug Radio Genesis NFT distributes $RUG tokens to holders on a monthly basis and sets the cadence and exchange within the ecosystem. This means the longer you hold your Utility NFT, the more tokens you will receive
$Rug
$RUG is the key currency of exchange within the RugRadio ecosystem.
$RUG is a pure utility token which means it’s specifically designed to be used within the RugRadio ecosystem. It will also hold future exchange value within the RugNetwork on new projects developed by the DAO.
ECOSYSTEM ECONOMY
Every Genesis NFT you hold will produce $RUG tokens. The longer that you hold your utility NFT, the more tokens you will receive.
$RUG token works on a slow release cadence, meaning it will take 5 years for all the $RUG to be trading in the marketplace.
A utility NFT will yield between 1800-4500 tokens per year (depending on rarity)
1,800 $RUG earn you 1 $RDAO $RUG AND RUG RADIO NFTS
$RUG is a pure utility token which means it’s specifically designed to be used within the RugRadio ecosystem.
It will also hold future exchange value within the RugNetwork on new projects developed by the DAO. NFT Holders & Hosts
$RUG is produced via the RugRadio Genesis NFT, which yields a set amount of $RUG token every day. The amount varies depending on the rarity of the genesis NFT.
RugBank
The RugBank also holds a special one of one RugRadio Genesis NFT which yields an additional 10% of the total daily production of $RUG token, which is then used in the ecosystems for hosts, projects and other utilities.
Hosts & Creators
The first utility of $RUG is entrance into the RugDAO. Members can swap 1800 $RUG for 1 $RDAO token which gives them governance participation rights in the RugDAO.
RUGDAO
RugDAO represents the heart of the RugRadio decentralized structure.
The DAO will store value created in the network and will house the governance of the whole platform.
The $RUG and $RDAO tokens are slow released over time. This means the DAO will grow slowly with them to ensure decentralization. A governance council will be created through a public election process. This council will represent the community for the first 6 months of the DAO.
The DAO is how the community hold long term ownership in the ecosystem. As the DAO grows bigger and more people join it, it will get more and more decentralized through time. We are putting 1,000 ETH into the RugDAO from the primary sales, in addition to 70% of ALL secondary sales profit. INSIDE THE DAO / COMMUNITY OWNERSHIP
A community DAO with a mixed NFP/FP structure custom built by SyndicateDAO to meet the needs of a large community offering.
SyndicateDAO is revolutionizing investing by changing how communities and capital work together through accessible, effortless, and social web3 technologies.
This means that The RugDAO will be the caretaker of the RugBank. The bank is the heart of the token rewards structure in the ecosystem. This is how we run programs like Learn to Earn and also how we reward the content creators within the RugRadio ecosystem.
The Bank is also the recipient of all the $RUG tokens that are swapped for utility within the ecosystem.
These $RUG tokens are then added to the pool that is redistributed throughout the ecosystem to members and creators.
The Sub-DAO that the RugBank sits within is created with a custom governance framework to ensure that, should there be any changes made to the Tokensomics structure, that is done so in a way that ensures that it’s not detrimental to the overall functioning of the ecosystem.
The merit of this framework is to create a path where the tokenomics structure can grow and change with the growth of the ecosystem, but in a way that is thorough and comprehensively aligns with the continued stability of the ecosystem.
RugBANK will hold 10% of all $RUG tokens.
RugBANK will accumulate a holding of 10% of all daily produced $RUG utility tokens which is approximately 4.3 million $RUG tokens/year.In addition, upon launch the RugBank will hold 1000 Member passes, and 1000 Genesis NFT’s. These tokens will be used throughout the ecosystem and rewards, gifts and incentives.
RUGBANK GOVERNANCE The peoples bank.
Total circulation of 170,000 $RDAO RugBANK will receive approximatley 4.3 million $RUG tokens/year
The Bank will also yield tokens from it’s holding of Utility NFTs
RugBANK will be governed by the DAO structure
STUBS
Rug Radio Faces of Web3 by Cory Van Lew
Items 20K · Created Feb 2023 · Creator earnings 6.9% · Chain Ethereum · Category PFPs
Faces of Web3 is a fine art collection created by Cory Van Lew to represent the Rug Radio community as well as the broader web3 ecosystem.Your PFP grants you access to the Rug Radio ecosystem alongside our Membership Passes and our Genesis NFTs.
