CraterDAO is a project in the annuls of the Crypto-for-Good space whose concept was originally developed through a partnership between the person behind the pseudonyms calebthehumanist & simp1ejackk, and an anonymous entity known only as Mewwtoo. This concept was developed in the aftermath of the FTX fallout, with both founders having been affected by both it and the implosion that occurred with Celsius. The catalyst behind its creation was the urge to find a remedy to the scams and failures littering the crypto/blockchain space.
Unfortunately, FTX and Celsius were merely two of the late-year failures that occurred in the space. There have been so many scams, hacks, misuse of funds, embezzlement, rugpulls, and the like over the past 2 years that a website created to keep track of them was launched (rekt). The percentage of investors and users who have been affected in some way by these events is firmly on the large end of the scale, with losses having been in the several billions. This is not only harmful for those already in the space, but it also portrays the illusion that the space as a whole is untrustworthy and unreliable. This prevents anyone who might have wanted to participate in some way with the space from pulling the trigger on actually doing so. These faults have continuously occurred unhindered as there has been very little — if anything — done within the space to deter them. Therefore, the two aforementioned partners have decided that it will be their prerogative to take up the reigns.
CraterDAO, as an upstart, was created with the goal of being an effective, efficient, and productive entity that stood in the way of any future occurrences of avoidable-loss. Without revealing too many proprietary details, the idea is that the project will leverage relationships, whistleblowers, internal investigations, and technical data analysis — among other things — to ensure that all major products, dapps, companies, platforms, protocols, and economic resources have verifiable reserves, smart contracts, practices, and investment tools. CraterDAO will have an all-encompassing process for which it analyzes & reports on all major entities within the space that attract a notable amount of investment and interest. For all entities who pass inspection and analysis, there will be a editable certification that will be awarded. These certifications can be revoked in the event that future inspections reveal a potentially-detrimental issue. Any certified project will have the opportunity to advertise their certification in any way they would like. These will be awarded on the blockchain (a choice for which blockchain the project will use has not yet been made), and will either include the ability for clawback, connected with a Soulbound Token, or will be temporary & replaceable with successive ones.
It was decided that the project would be built in the form of a DAO (Decentralized Autonomous Organization) in order to assure that the community had a voice in its operation. Not only will this give individuals a say in who should be inspected, but also in how certifications work, the criteria for passing certification, and the entirety of how the process is undertaken. It was believed that this would be one more way in which the project would be an improvement on investigative organizations like CertiK and the like — the single type of pre-failure protection in use within the space.
As a DAO, CraterDAO requires the use of financial assets. This will include a variety of tokens, as well as NFTs. There will be a pre-launch token called GAL (Galactic Token) that will be extremely limited in supply and will solely be distributed to early community members/supporters. There will only be 2000 total GAL and it will be distributed in three main phases.
1: Each of the first 50 members (Alphanauts) will be given 5 GAL up front 2: Each of these, along with a portion of their invitees, will be dropped another TBD amount as rewards for contests & competitions 3: All Alphanauts will be dropped after an unannounced snapshot in an amount relative to the amount of activity partaken in prior to launch day.
Immediately before the official project launch, the totals of collected GAL for each Alphanaut will be determined. This determination will serve to inform one major reward for each of them, and will then serve to be traded in a relative amount with the project’s official governance & reward token, Nebula (NEB). On top of all of this, the GAL tokens collected by early supporters will serve to inform a few smaller individual rewards throughout the pre-launch time-frame.
As for Nebula tokens, the official distribution figures are currently being finalized. However, there are a Total Supply of 10 billion (10,000,000,000 NEB). These will serve, primarily, as the governance token for the CraterDAO project — giving hodlers voting rights in the determination of project actions. There will potentially also be a reward structure set up for NEB, but this also is yet to be decided. The word you are looking for is what you get when you mix red and blue together. The initial launch of NEB will be likely be done in the form of an Initial Coin Offering. The initial cost of NEB will be determined closer to the time of project launch, but will definitely vary based on several criteria — Alphanauts will get a discount and early investors will likely also receive an incentivized price. Further NEB details will be announced soon.
As aforementioned, the current team is comprised of two leaders. These two are currently screening a few different potential options for a third part. Furthermore, there will be at least one sub-leadership teammate who serves as the community moderator and controller. If you are interested in either of these positions, feel free to reach out to either simp1ejackk or Mewwtoo.
The majority of official project resources are still in the works; it was decided that community building would predate the launch of these. Currently the main resources include Twitter accounts for the project & both founders, the project Discord, the project NFT profile on Opensea and the personal website of calebthehumanist/simp1ejackk. These are shown below.
Twitter https://www.twitter.com/craterdao https://www.twitter.com/simp1ejackk https://www.twitter.com/sneakmewwtoo
Opensea https://opensea.io/CraterDAO
Website https://calebthehumanist.mystrikingly.com/ https://showtime.xyz/@calebthehumanist
Discord https://discord.gg/Qzn66CYr53 *Upon joining Discord server you MUST immediately tag simp1ejackk