📖A.R.T Docs
Here's all you need to know about A.R.T!
Last updated
Here's all you need to know about A.R.T!
Last updated
In our Introduction, we gave you an overview of what A.R.T is and the initial distribution of our unique A.R.T NFTs. This page will dive deeper into the mechanisms, how the A.R.T Factory is run, and how YOU can play a part in our world.
A.R.T is an NFT project which consists of more than one type of NFT, and this could be confusing! Don't worry, let's break it down for you:
A.R.Ts are NFTs that users can mint, buy and own. Just as how it looks like a retro hand-held gaming device, A.R.Ts are unique because they can display NFTs drawn by ARTists in our community. A.R.Ts have another feature—when staked, they produce V.O.L.T.S, the SPL token that powers the A.R.T Factory. One of the NFT traits of A.R.Ts is the multiplier that they harness. The multiplier represents the rate at which each A.R.T produces V.O.L.T.S. For the initial supply of 5,000, A.R.Ts are airdropped to special Artbots that were early or participated in The Z.A.P. Subsequent A.R.Ts must be minted using V.O.L.T.S ($VOLTS) according to the Variable Rate Gradual Dutch Auctions (VRGDA) mechanism (to be elaborated later).
Legendary A.R.Ts are a subset of A.R.Ts, a league of special super-charged A.R.Ts. They are very rare since there are only a total of 20 Legendaries, part of the supply of 10,000, and released gradually over the project timeline of one year. The very first Legendary will appear when 10% of the remaining non-initial airdrop A.R.Ts have been minted.
They are also special because they cannot be minted using V.O.L.T.S. Instead, they are bought using A.R.Ts via a dutch auction mechanism. The starting price of the first Legendary will be at 69 A.R.Ts and will trend downwards until it meets the price of a bidder. Subsequently, the starting price of the following Legendary will be twice the sale price of the previous. A.R.Ts used to create each Legendary will be removed from the total supply. Additionally, each Legendary will adopt twice the sum of the multipliers of the A.R.Ts used to create it. For example, if 20 A.R.Ts were used to create Legendary X, and the sum of the 20 A.R.Ts' multipliers is 100x, then Legendary X will have a multiplier of 200x. A greater multiplier means greater V.O.L.T.S production when staked!
P.A.P.E.R is an NFT that acts as a blank canvas. Anyone can use our Draw Tool to draw, doodle, and share their creativity with the world. We even have a gallery for all the pieces drawn on A.R.T. However, to mint your art to NFTs, you need to buy P.A.P.E.R to draw on. There is an infinite supply of P.A.P.E.R but the issuance of P.A.P.E.R also follows the VRGDA mechanism. This means that new P.AP.E.R is being churned daily but the rate of which it is produced will tend to a constant rate eventually. You can find a step-by-step guide to our Draw Tool here, inclusive of a tutorial.
S.C.A.Ns are 1/1 NFTs created by ARTists and members of our community. Essentially, once ARTists draw on P.A.P.E.Rs, they can scan P.A.P.E.Rs to become S.C.A.Ns. This way, anyone can be an NFT creatooor! Only S.C.A.Ns can be uploaded to be displayed on an A.R.T.
How do they all come together? Buy A.R.T -> A.R.T produces V.O.L.T.S -> buy P.A.P.E.R with V.O.L.T.S -> use Draw Tool to draw on blank P.A.P.E.R -> scan P.A.P.E.R to get S.C.A.N -> upload S.C.A.N on A.R.T
Read more about the process here!
Unlike the many NFTs, the A.R.T ecosystem runs on only one SPL token—V.O.L.T.S. That means that V.O.L.T.S has multiple uses and is an important must-have if you want to take the W in this A.R.T game. If you recall, half the supply will be released after the initial mint, and for this group of A.R.Ts, they must be minted using V.O.L.T.S. First and foremost, V.O.L.T.S are important because they give you the ability to buy more A.R.Ts.
V.O.L.T.S is also needed to buy blank P.A.P.E.Rs to draw on and scan your P.A.P.E.Rs to S.C.A.Ns.
And before we forget, here's a little tip: you need V.O.L.T.S to buy more A.R.Ts to buy Legendaries 😉
There are several ways you can get V.O.L.T.S. Pre-mint, there is only one way to accumulate V.O.L.T.S before the real game begins, and that is to participate in The Z.A.P (explained below). Post-initial airdrop, one way is to own A.R.Ts or Legendary A.R.Ts that will generate V.O.L.T.S daily when staked. The other way is to participate in post-mint zapping.
A little confused? Here's a more comprehensive break down of V.O.L.T.S.
A.R.Ts and P.A.P.E.R are issued according to the VRGDA mechanism.
VRGDA is a token issuance mechanism designed by Paradigm. It allows the sale of tokens to follow closely to a customized schedule by regulating prices. If sales are ahead of the preset schedule, then the algorithm will raise prices to decrease demand and slow down sales. Similarly, if sales are behind time, then the algorithm will decrease prices to increase demand and sales. VRGDA allows NFT issuance to adapt to market forces in terms of issuance rate and prices, this is different from the usual uniform linear issuance schedules. With VRGDA, issuance would be fast initially, then slowing down to a more constant rate over time. Additionally, the user experience is optimized because users no longer need to wait according to a fixed issuance schedule before they can buy the NFTs they have their eye on. Here's Paradigm's article on VRGDA.
Projects that have adopted this mechanism include Art Gobblers and 0xMonaco.
VRGDA is used in the issuance of non-initial airdrop A.R.Ts—consisting 4,500 of the total supply of 10,000. The issuance of A.R.T will be faster at the beginning, slowing to a constant rate over time. This is taking into account that every 10th auctioned mint goes to the Factory team.
If you missed it, information on initial distribution can be found here.
P.A.P.E.R is churned out daily according to the VRGDA mechanism too. Although supply is unlimited, daily issuance will be moderated—don't want there to be too much rough paper lying around! Similarly, issuance of P.A.P.E.R will be faster initially, slowing to a constant rate over time.
Since the inception of A.R.T, there has been several whitelist challenges to shortlist the best Artbots and reward them for being part of our Factory. Challenges are launched both on X/Twitter and Discord, so be sure to follow us there.
Here are some challenges that have ended/are ongoing:
From 4–12 January 2024, we held our very first WL challenge on Twitter and Discord. We presented our community with 14 mini cipher challenges, of which, eight were WL challenges where winners could qualify for our WL. More info can be found here!
From 17–22 January 2024, we had our A.R.T Creative Surge Contest, a WL challenge where we introduced our community to our Draw Tool. With daily prompts, we saw you Artbots start up your creative engines to draw the funniest and raddest ART. From this contest, we picked out the most skillful Artbots to be part of our WL.
The A.R.T Draw Meme Challenge is an ongoing WL challenge that began on 23 January 2024. We were inspired by the meme culture of CT, and we want to see what concoctions our Artbots can come up with. Join us now for a chance to secure a spot on our WL!
The Z.A.P is a 24-hour bonding event that is happening before the initial airdrop on 24 February 2024, 5PM UTC. Participating in The Z.A.P is the only way you can accumulate V.O.L.T.S before the mint for A.R.T is live. This bonding mechanism is inspired by Olympus DAO, and it serves 3 purposes:
Gives users a chance at receiving a FREE A.R.T NFT airdrop (only 1 NFT per wallet!)
Increases users' V.O.L.T.S token allocation before the actual mint is live, giving them leverage to buy more A.R.Ts post-initial mint
Establishes initial liquidity of V.O.L.T.S for the Factory to be used to run the system once A.R.T mints are live
During The Z.A.P, users can exchange other Solana assets, namely BONK, USDC or SOL, worth a minimum of $10 for V.O.L.T.S at a discounted price. Discounts begin at 20% and trend to a floor of 5%. Zapped V.O.L.T.S can be claimed once A.R.T mint is revealed on 1 March 2024, 5PM UTC. Not only can you buy V.O.L.T.S at a discount, there will also be a leaderboard during the 24-hour event to track how much each user has zapped. Needless to say, the more you zap, the higher the chances of receiving the NFT airdrop.
After initial airdrop, there will also be post-mint zapping where you can boost your V.O.L.T.S supply. We will offer limited bond sales where you can purchase V.O.L.T.S at discounted rates within stipulated timeframes. More details will be released when they happen!
TL;DR Join The Z.A.P if you want a chance at receivina FREE A.R.T NFT airdrop
Keep your eyes peeled for more events and challenges ahead 👀
For those who've been here for a while, you might have realized that A.R.T has similarities to Art Gobblers—you're not wrong. When Art Gobblers was released, we played around with it but observed some issues that arose. Here's what we did differently:
Gradual Ownership Optimisation (GOO) was designed by Paradigm to prevent a token-NFT divergence, the GOO tokens lacked liquidity on launch. Users could not buy tokens on the marketplace, creating an immediate imbalance between the token (GOO) and NFTs (Gobblers). This led to the hoarding of Art Gobblers in the initial week to produce GOO, stunting the growth of the ecosystem. This implicated the propagation and use of Pages and the core user experience of the Art Gobblers ecosystem. To mitigate this problem, we introduce our bonding event to ensure the initial liquidity of V.O.L.T.S in the ecosystem even before the initial mint.
The 10-year timeline for the 8,000 remaining post-initial mint Gobblers seems too long, dragging out the attention of the community towards the project. For A.R.T, we chose to rerun this experiment in an NFT-first ecosystem, Solana, over a more condensed timeline of one year with the same supply size. We hypothesize that this will provide a more optimal environment for such an NFT game to grow.
We'll start and end by saying that A.R.T is a decentralized experimental Artificial Robot Tapestry factory built on Solana. The first of its kind, A.R.T is at the forefront hybrid NFT in Solana, making use of both VRGDA and Gradual Ownership Optimization. This experiment is set to run its course for one year. After that, the future is a tapestry where both you and I can work together. The sky's the limit and what happens next is up to you, Artbot! ⚡️
