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Legends of SOL Whitepaper - v0.1.0

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Introduction

Legends of SOL is a project that launched with the aim to airdrop a token called $LEGEND, to projects and members of the Solana community who had been active throughout the bear market of 2022-23 to recognize and capture a snapshot of the community before the onset of the next bull market. This whitepaper outlines the project's history of the airdrop, tokenomics, the unique "The Choice" NFT, and our future plans for design and delivery of NFT tooling to add value to our partner projects through building a circular economy based on upgrading NFT traits.

Airdrop History

The Legends of SOL airdrop was the core focus of the first weeks of Legends of SOL, marking a significant milestone in engaging and rewarding the community. Here are some key statistics and highlights from the airdrop:

  • Launch Date: The airdrop officially commenced on January 16, 2024, with the announcement of the Legends of SOL website going live and the initiation of the $LEGEND token distribution.
  • Recognizing Legendary Status: Leading up to the airdrop, the project team upgraded key community members to @absolute-legends status, recognizing their early and engaged support.
  • Social Engagement: The airdrop tool was designed to foster social engagement, requiring participants to connect their Twitter, Discord, and Airdrop Wallet to claim their allocation. Additionally, community members were encouraged to nominate their peers, further expanding the reach and impact of the airdrop.
  • Token Distribution: The $LEGEND token, with a max total supply of 4,206,969,420 tokens, was minted with specific allocations for airdrop participants, community rewards, and development funds. A total of 662M in $LEGEND tokens were successfully distributed to 3769 claimers as part of the airdrop claim.
  • Strategic Partnerships: Legends of SOL established partnerships with 72 distinct OG projects within the Solana ecosystem, aiming to reward them for building through the bear market, post FTX collapse.
  • Claim Process: The claim process for the airdrop was meticulously planned, with a cutoff date announced to ensure participants had ample time to claim their tokens. The team leveraged technical challenges to filter community members who were acclimatized to volatile market dynamics, and was able to gather together a select group of experienced and resilient community members as a result.
  • Community Growth: The airdrop and subsequent activities significantly contributed to the growth of the Legends of SOL community, with an increase of 2273 Discord members and active engagement across social media platforms.

The airdrop not only served as a mechanism to distribute $LEGEND tokens but also as a catalyst for community building and engagement. It laid the foundation for a vibrant ecosystem centered around Legends of SOL, successfully setting the stage for building tools around NFT traits and sentiment.

The Legends Team

Our project is driven by a diverse and talented team of seasoned Solana holders, each bringing unique skills and experiences to the Legends of SOL ecosystem. Below is an overview of our core team members and their contributions:

  • ༒•∂ᖇ◎𝕎𝓧ᵉŞ•༒ (drowxes) - As a general support specialist, drowxes plays a crucial role in maintaining the smooth operation of our community and technical support channels, ensuring that our members receive the assistance they need promptly.

  • Artberines (abcberines.abc) - Responsible for video and content creation, Artberines crafts compelling visual narratives that communicate our project's vision and updates to our community and stakeholders.

  • Bergfalk - Overseeing video, content, and community management, Bergfalk ensures our message is consistent across all platforms and that our community is engaged and well-informed.

  • CdCruz (cdcruz) - As the Lead Moderator, CdCruz is at the forefront of our community engagement efforts, moderating discussions and fostering a positive environment for all members.

  • Flamulus - Our Lead Artist, Flamulus, is responsible for creating The Choice NFT and the visual identity of Legends of SOL.

  • Frigate (frigaate) - Serving as a Discord admin, Frigate ensures our Discord server is technically sound and a safe and welcoming space for discussions, collaborations, and support.

  • Gus (gus.dew) - Gus contributes as a Moderator, essential to our community management and engagement efforts to ensure a vibrant and active community.

  • Hårkl (harkl) - As the Founder/Owner, Hårkl is the visionary behind Legends of SOL, guiding the project's direction and ensuring that it remains aligned with our core values and objectives.

  • Nicknmyap - Specializing in growth hacking and partner management, Nicknmyap is instrumental in expanding our reach and forging strategic partnerships within the Solana ecosystem.

  • OUTIS (angrypacifist) - Another key Discord admin, OUTIS plays a vital role in community moderation and engagement, helping to maintain a dynamic and supportive community.

  • Råbba (rabbagast) - As the Head of Development, Råbba oversees the project's technical strategy and development, ensuring that our technology stack and digital assets, including NFTs and the $LEGEND token, are up to best practice technical standard.

  • Seeker (seeker2843) - Providing general and technical support, Seeker assists with various operational and community engagement tasks, contributing to the overall success of the project.

  • Steven Sabol (W3 Econ) - Our Tokenomics expert, Steven Sabol, designs and implements the economic models that underpin the $LEGEND token and its utility within the Legends of SOL ecosystem.

  • VermDragon (Reric.vermilion.sr.dir.econ) - Leading the Tokenomics efforts, VermDragon works alongside Steven to ensure a balanced and sustainable economic model for our project.

The success of Legends to date is primarily because of the team. Since we first started the project in January 2024, the team has grown and strengthened into a very tight knit unit with daily comms and weekly video chat held via Discord.

Discord Community

Invite Link: discord.gg/legendsofsol

The Legends of SOL Discord community has been a cornerstone of our project, being the central platform for engagement, support, and collaboration. With over 2,273 members and growing, our Discord has become a hub for discussions, announcements, and community-driven initiatives. Here's a brief overview of our Discord community's growth and activities:

  • Member Growth: Since the launch of Legends of SOL, our Discord community has seen a significant increase in membership, with 2,273 new members joining the ranks of Legends. This growth is a testament to the project's appeal and the engaging environment we've fostered.

  • Engagement: Our community is highly active with 1583 weekly active visitors, and 438 members participating in discussions across various channels. From general chat to specific topics related to NFTs, tokenomics, and development updates, there's always a robust conversation happening.

  • Support and Collaboration: The Discord server serves as a primary support channel for our members. Whether it's technical assistance, questions about the project, or ideas for collaboration, our team and community are always ready to help.

  • Exclusive Access and Announcements: Members of our Discord community with NFT based roles enjoy early access to announcements, sneak peeks at upcoming features, and the opportunity to participate in community-exclusive events and airdrops.

  • Community-Driven Initiatives: Our Discord has been instrumental in organizing and executing community-driven initiatives, such as the code cracking competition and discussions around The Choice NFT and its future developments.

As Legends of SOL continues to evolve, our Discord community remains at the heart of our project, driving engagement, fostering innovation, and building a strong, supportive network of Legends. Join us on this exciting journey and become part of a community that's shaping the future of NFTs and the Sol

$LEGEND Tokenomics

The $LEGEND token serves as the primary currency within the Legends of SOL ecosystem, facilitating transactions, access to exclusive roles/features, and community decision-making. With a max total supply of ℒ4,206,969,420 tokens, $LEGEND's distribution was carefully planned to ensure a balanced ecosystem. The tokenomics include allocations for airdrops, community rewards, and a development fund to support ongoing growth and partnerships.

Distribution Structure

  • Airdrop Allocation: ℒ662,000,000 $LEGEND tokens (15.7%) distributed - Airdrop claim to early supporters and community members.
  • Airdrop Overflow: ℒ389,742,355 $LEGEND tokens (9.25%) - Overflow from the airdrop claim, Distribution TBD.
  • Strategic Partners: ℒ525,871,178 $LEGEND tokens (12.5%) - Distributions to Partners of Legends of SOL.
  • The Choice NFT Distribution: ℒ525,871,177 $LEGEND tokens (12.5%) - Distribution to holders of the Choice NFT.
  • Liquidity Pools: ℒ210,348,471 $LEGEND tokens (5%) - Initial liquidity pools including Openbook markets on Raydium, and pools on Orca and Meteora.
  • Liquidity Other: ℒ631,045,413 $LEGEND tokens (15%) - Liquidity withheld for use in platforms that offer borrow/lending, farms, derivatives, and optionally CEX listings.
  • Marketing: ℒ210,348,471 $LEGEND tokens (5%) - Earmarked for promotions and sponsorship within CT and beyond.
  • Solana Ecosystem Reinvestment: ℒ210,348,471 $LEGEND tokens (5%) - Reserved for Solana developers, including hackathon rewards, and expansion of the Legends of SOL community.
  • Team: ℒ841,393,600 $LEGEND tokens (20%) - 30% initial with 16M vest with linear unlock. 70% for ongoing work paid monthly.
  • Total: ℒ4,206,968,002 $LEGEND tokens.

Future Plans

As Legends of SOL continues to evolve, we have a clear vision for the future to add real utility to "The Choice" through hot-swappable traits, a trait market-place and NFT sentiment analysis tooling. By introducing dynamic, hot-swappable traits we aim to create a circular economy not only for Legends of SOL traits, but for the whole Solana NFT ecosystem. This is what we are in the process of executing in the coming weeks.

The Choice NFT

"The Choice" NFT is the keystone to the Legends of SOL universe. It is the primary signifier for members Legends of SOL, unlocking full access to the Legends community through PubKey certification. "The Choice" NFT comes with several key features:

  • PubKey Certification: Discord members validate their Choice NFT through PubKey, unlocking full access to the insider Legends discord channels.
  • Hot Swappable Traits: (In progress) Owners can change the traits of their NFT, allowing for customization and personalization.
  • Trait tiers:
    • Common Traits: Available for free, designed to add basic customization and personalization options for NFT owners on a budget.
    • Uncommon Traits: Offer slightly more unique customization options than common traits, providing a balance between accessibility and uniqueness.
    • Rare Traits: These traits are harder to come by and offer distinctive customization options.
    • Epic Traits: Even more unique and valuable, epic traits provide significant customization and rarity.
    • Legendary Traits: Priced at ℒ420690 each, these traits offer highly unique and distinctive customization options, adding significant value and rarity.
    • MYTHIC Trait: A single, extremely rare trait named "The King Without Choices," available at a to-be-determined price.
  • Economic Utility: Traits can be purchased with $LEGEND tokens, and will be able to be sold via a trait market place, and created for partners and events, introducing a circular economy for traits within the Solana NFT ecosystem.
  • Trait Market Place: Delivered in a second round once the initial Legends NFT traits have been delivered and refined.

The Chooser

The Chooser is a platform that will allow NFT owners to personalize and upgrade their NFTs with hot-swappable traits. All of the traits of Legends, are going to be made up of an assortment of the best traits across the Solana NFT ecosystem, a set of Legendary Solana NFT traits if you will. This also opens the door for our partner projects to have official partner traits that can further build attention, where we can make project specific experiences based on traits from specific collections to generate colabs and engagement. Combined with a market place API and the ability to engineer NFT collections imbued with different token and trait mechanics, the trait mechanics will be like nothing thats ever been built in the NFT space on any chain in the history of crypto.

Sentiment Analysis of NFTs

Recognizing the emotional nature of the NFT market, Legends of SOL is pushing into sentiment analysis for NFTs. By developing tools and platforms that analyze sentiment data, we aim to provide our community and partners with actionable insights that go beyond the purely transactional data that has defined the analytics space to date. This sentiment-driven analysis will again link back into partner NFT projects to allow them to streamline their trait and character offering. It will also enable Legends of SOL to consult on NFT projects looking to deliver lore and artwork that is the most up to date with the current space zeitgeist.

Sustainable Ecosystem Growth

The core of our future goals is to create a circular NFT economy based on traits and sentiment data for stakeholders. Through our existing and future partnerships, continuous platform delivery, and a team firmly based in the foundation of Solana NFT culture, Legends of SOL is poised to be a big part of the next wave of the NFT cycle. We are a project focused on long-term growth and the continuous delivery of value to our community, partners and the Solana ecosystem at large.

Conclusion

With a seasoned team of experienced individuals, a high profile brand within Solana and a clear vision for the future, we are on a path to creating real value for our community and all Solana NFT projects we have partnered with. At this stage there are no OTC or VC opportunities open, and the sole way to engage is via the market. If you'd like to be part of this journey to super-charge the potential of every NFT project within the Solana ecosystem, you can purchase a Choice NFT or $LEGEND tokens, join our Discord and share in the vision.

LFG! 🚀🚀🚀

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