Main Street Money Monkeys are backed by 100% of their mint money which funds our Apeswap yield farm. Generating monthly rewards for each Monkey in $MAINST Tokens!
Monkey mints have officially been closed. Thank you to all of those who chose to join Main Street & our Money Monkeys NFT community! We’re looking forward to continuing to build and provide value back to you guys. Here’s some statistics on the current value of your Monkeys
As of December 3rd, our Banana Bag currently holds approximately 95,000 $BANANA and 54,000 $GNANA for a total of $12,000 at current prices. This dollar amount essentially backs each NFTs value; If Money Monkeys would dissolve today, the Banana Bag would be split amongst the total supply. Monthly $MAINST rewards are merely a boost to this underlying value while giving holders a stake within Main Street.
We believe Apeswap has made some solid moves to position $BANANA for long term success with the implementation of their hard cap and other recently introduced concepts. As $BANANA’s value continues to increase, here’s how Money Monkeys underlying value will follow…
Ideas of splitting the entire bag when it reachs a certain dollar amount have been thrown around. An example of this would be if the Banana Bag reaches $500k, then it would be converted to $MAINST and dispersed evenly to all Monkeys. This concept could also be done in a vested manner (xx% at $200k, xx% $300k), or not at all. These are just ideas we have been discussing as a team, and would love to hear our community's input.
We highly encourage you to use OpenSea when listing to a secondary market, as we will be using the platform as our official secondary marketplace. Secondary Sales & Marketplace listings will be key to retaining and building value for ourselves. Royalties will be added to the Banana Bag or used to deflate supply, in order to continue to build the underlying value of our Monkeys
Sneak peeks of the V2 Art have been released periodically. The goal of the new art is to bring some new energy to the project, while also helping create more value for holders. Therefore we’re really in no rush to release it. Currently we are looking at ways to implement a deflationary supply concept that provides holders different options in terms of which art they prefer.
The Banana Bag will now be able to compound every 3 days through the $BANANA Bounty! This bounty pays small $BANANA reward to the claimant while compounding the entire bag, and in turn supplying more $MAINST rewards to the pool for all Monkeys! The timer for the bounty resets every 72hrs! So be on the lookout to claim some $BANANA and help grow our bags!
Due to the nature of the concepts and current time restraints on UI development, the bounty process along with Money Monkey rewards claiming will take place on the Eternal Labs Platform. As before mentioned, the rewards bounty timer will reset every 72hrs. Making new $MAINST rewards also claimable every 72hrs!