Operation POPS

$xCULT stats

There are 1,848 POPS in circulation out of a max supply of 3,333. 1,485 POPS remain to unminted. There is 3,899 $xCULT in circulation. If every POPS in circulation claimed their $xCULT, the supply would be at least 5,544 $xCULT. If all 922 GHOSTLYs in circulation claimed their $xCULT, the $xCULT supply would be 6,466 $xCULT. If the rest of the POPS were minted, and all $xCULT claimed, there would be 10,921 $xCULT.

Dilemma

The DAO needs to provide $xCULT/FTM LP in a responsible way. The DAO has purchased $CULT and added to LP over the past few days. This followed the closing of $CULT claims. $xCULT claims are a part of the benefit of minting a fresh POPS. We want the remaining POPS to mint so claims will remain a open for now. This makes purchasing $xCULT and providing LP risky.

Proposed Solution aka Operation POPS

If this proposal passes the DAO will:

1. Mint 500 POPS to the DAO Multisig.
2. Claim all 1500 $xCULT
3. Pair 300 $xCULT with FTM in LP.
4. List any common POPS for no less than 55 FTM on Paintswap.
5. Reserve 200 $xCULT for future xCULT/FTM LP adds.
6. Reserve 200 $xCULT for future xCULT/CULT LP adds.
7. Reserve all uncommon POPS and require future governance for their use.

Operation POPS Airdrop/Rebate

Starting after we mint the 500 POPS any user can:

1. Mint a POPS
2. Claim your 3 $xCULT
3. Get a bonus 1 $xCULT airdropped at end of Operation POPS

For each $xCULT distributed, the DAO will add 1 $xCULT to liquidity. There is no limit to how much bonus $xCULT you can receive. Funds raised from POPS mints during this event will be used to deepen $xCULT liquidity, purchase $xCULT, and protect the floor price of POPS.

This operation will start on June 1st and run until July 1st.