Bingus & Bog: We Have an Adoption
Hey there, Co-Creator of Bingus.finance here.
For the last month, I have watched in awe of the progress that Bogtools has made in its ecosystem. From oracles, to limit orders, charts, and now sell orders, Bog has consistently delivered features to improve the BSC ecosystem. Once again, they’ve done the same thing but this time for us at Bingus.
When the Bog team showed up in the Bingus chat, we were surprised to say the least. When they approached us to find a way that we could integrate with their RNG (Random Number Generator) that would help us grow we were incredibly humbled. Throughout the build, John, Luke, and Valdo have been so helpful and skillful that to say I am just grateful would be an extreme understatement. It’s a total honor to have them on board.
So from the outset, we wanted this to be a community-driven and focused token, however, the very basics of how charity tokens work puts the power squarely into the developer's hands. It’s an unfortunate fact but it’s the reality of the code.
Today we begin the first steps of removing ourselves from the equation. Let’s show off what we have made.
From here on out, every shelter selection will be voted upon by using LP tokens earned by staking BNB/BINGUS inside of Pancakeswap. Your LP tokens can be withdrawn back to your wallet after the vote is complete, they simply allow you to cast your vote. Not only does this incentivize providing liquidity which helps the long-term viability of the project, but it evens out the playing fields by transferring power into the hands of the people who are helping the project the most. We call these people The Liquidity Providers.
Your vote will be weighted by how many liquidity tokens you have. Don’t you worry however! The big players, whales as they’re commonly referred to, will not be able to absolutely dominate the vote. Due to the mechanics of the RNG system, after the 48-hour countdown ends, it will select a winner. Yes, those shelters with more votes/more weighted votes will have higher odds of being selected, but it is still entirely possible an underdog will be crowned the winner.
Furthermore, you can band together with your fellow BingusBros and vote together for a shelter of your choice, encouraging community interaction strengthening ties.
Does your local shelter need help right now? Get some friends and try and win the vote. Does your country have a widespread issue? Get posting all over your networks to try and win the vote. As Bingus grows we have more opportunities to help animals all over, so it is a win-win for everyone.
But…We’re not done yet. After the vote, from the pool of voters who picked the winner, the RNG will be deployed again. This time a random wallet will be chosen to receive a 1-of-1 NFT crafted by our artist to commemorate the vote. The NFT will be designed either around an animal from that shelter, or the shelter itself as a keepsake to always remember you were one of the people who helped make this happen.
This is just the first step in decentralizing the process behind the distribution of the charity wallet. We hope to eventually remove ourselves entirely from the equation and will make every attempt to keep the community in control of every action we take.
Now let's have fun voting and saving some animals!
