Zombie Horde,
After careful review and testing of our first 2 auction pieces, the Zombie Undertakers unanimously decided to change the base bid token for our Auctions.
Formerly, users would need to form APE LP tokens in order to bid. Our team had intentions of using a zap feature to allow users to safely and easily create these tokens. In addition to this, we were excited about the possibility of users creating LP, and the unique way in which that would help support the price floor of ZMBE and increase the liquidity.
Upon review, we assessed that despite our intentions this was a stupid idea. ??
Some of the barriers we encountered:
-Difficulty creating LP (too many steps involved and it forced uninformed users to do something they were not familiar with simply to be involved)
-Difficulty seeing the value of bid tokens
-High deposit fees (we think this has been a barrier as well)
Moving forward, we will be UPGRADING the MAUSOLEUM to operate this way:
All BIDS will be offered in BNB. Simple! No downward pressure on ZMBE token. No need to exchange for LP pairs.
Entry fees will be lowered from ~5BUSD to 1BUSD. We believe this will open the doors for more users to bid and get a chance to earn the BIBLICAL level NFTs.
How Are Auction Funds Used?
Formerly, 25% of the LP tokens were sent to the LP wallet increase LP price floor and the rest was unpaired. This left little to nothing for our starving artists who rightly deserve a reward for their wonderful art.
Moving forward, the winning bid will be used as follows:
50% goes to the artist
25% goes to our treasury
25% goes to burn ZMBE
We will on occasion use discretion to direct treasury funds toward charity or other causes, but this is the formula!
Zombie On!
