Gm fellow nut enjoyoooors, this post is gonna be slightly longer so sit tight!
When I released the Tiny SPL standard on Solana at the start of the week, never did I expect it to gather the amount of attention it did. I am really appreciative of all the support garnered thus far, and the success of the first token launched with the Tiny SPL standard (Deez Nuts 🥜🥜🥜) shows that Tiny SPL has a lot of potential for further growth.
In the beginning, Deez Nuts was an experiment showcasing the capabilities of this new standard. While ever since then Deez Nuts has grown a lot, this does not change the fact that I am currently using my own funds to run the protocol (costs associated with program deployments, time to write the code etc) and I am not earning (and not intending to earn) anything from this standard. However, to further drive growth for Deez Nuts and Tiny SPL, we will need to allocate a certain % of total supply to run the protocol in order to push Tiny SPL forward and increase adoption across the Solana ecosystem. (for full transparency, I only own ~4k nuts).
Given that current supply (~21M) has no allocation reserved for growth and marketing, I am suggesting minting an additional 4M more tokens (~16% of final supply) so that the team can focus on growing the adoption of Tiny SPL standard and build more partnerships for DN, if given the blessing by the community.
This will be done in a transparent manner and therefore I would be open to creating a multisig custody of these extra minted tokens with trusted members of the community. These funds will also obviously be held in a public address, and anyone will be able to check and see if I am dumping the additional allocation on holders 💀
I will be opening a 48 hour vote from 12th Jan 2024 12pm eastern time to 14th Jan 2024 11:59AM eastern time. Casting a vote will lock up the amount of tokens you used for the vote, and more tokens = more votes. If you are against the additional mint, write your suggestions in this tweet below. And on 12th Jan, the top 2-3 options will be voted on to see whats the next steps for DN.
Additionally, with Deez Nutz attaining such virality, it has quickly come to my attention that current marketplace UX on Solana might not be the best for the trading of the token. This token standard is not meant to be traded as a NFT and that is why I've been focusing on building a safe and secure AMM integration for the protocol. This is also where we will be using additional minted nuts in, we will need to bootstrap pool liquidity for this new protocol and token. Do let me know if anyone is willing to become a contributor and help to provide liquidity for the DN pool - my DMs are open too!
All in all, thanks for reading and here's to a more bullish future for Tiny SPL and Deez Nuts 🥜🥜🥜
TL;DR, if given the DN's community's blessing via voting, I would plan to mint 4M more DN tokens (~16% of final supply) for the growth of the Tiny SPL project. We are also looking for contributors that are keen to help bootstrap liquidity for the DN AMM LP.