IMPORTANT ANNOUNCEMENT

The team announced on October 25th 2023 that the project would be closing down operations, selling off assets and distributing the remaining treasury among holders.

Lynx

The fundamental value proposition for FatCats Holders is that profits earned earned through Lynx will be utilised for the growth of FatCats and rewarding of holders through IRL events, items, Web3 based assets and mint opportunities from projects contracted with Lynx.

Staking

Prior to FatCats II, NFTs were staked to earn $CATNIP tokens. This has stopped and a new staking mechanism will be launched soon and will be a points-based system. Token sinks will be utilised to recoup remaining $CATNIP in circulation.

The team have confirmed a transition to a points-based mechanism for FatCats II. Rewards will be powered by revenue earned through Lynx and will be a combination of Web3 based assets and IRL items.

Aladin recently revealed in an announcement that he would be tying his web2 business to the FatCats rewards in the form of high quality jewellery that his business manufactures.

The Accelerator

The accelerator is easily the biggest drawcard at the moment for being a FatCats Capital holder. As previously stated, accelerated projects will have a portion of the mint spots allocated to being minted in Points for FatCats Holders.

The number of mint spots will vary from project to project depending on their supply and level of acceleration but where possible, points mints are allocated as follows:

• FCC Directors (40+ NFTs) – 4  Mint Spots
• FCC Executives (30+ NFTs) – 3  Mint Spots
• FCC Supervisors (20+ NFTs) – 2 Mint Spots
• FCC Associates (10+ NFTs) – 1 Mint Spots
• Catnip Plant Holders – 1 Mint Spots
• Less than 10 NFTs – remaining mint spots are raffled amongst the remaining holders.

It is important to note that there is a hard cap of 4 mint spots. In other words, if you are an FCC Director but also hold a Catnip Plant, you will still only get 4 $CATNIP mint spots.

In the event that there aren’t enough mint spots to ensure every holder gets their guaranteed allocation, Holders of 30+ (Executives and above) and Catnip Plant holders will receive 1 $CATNIP mint spot. A portion is then set aside to be raffled amongst the remaining holders of 10+ and another portion is raffled to holders of less than 10.

Update: This will be subject to change depending on the points mechanism that gets introduced.

The Art Upgrade

In addition to purchasing a FatCat II directly from secondary markets, these NFTs can still be acquired via un-upgraded cats whilst maintaining a chance to receive one of the remaining 1/1 NFTs.

It requires 1 x FatCats Capital NFT + 1 x FatCats Deadfish + 1000 $CATNIP (5555 Supply)

The FatCats Executives

To gain entry into the Executive Suite, one must hold at least 30 FatCats NFTs or 1 Catnip Plant. It should be noted that originally, the supply of Catnip Plants was 50 NFTs however a recent burn saw 34 of them removed from circulation. Executives are entitled to priority access within the FatCats family, the most obvious of which is a guaranteed CATNIP mint regardless of the level of project acceleration.

Furthermore, Executives have the opportunity to partner alongside the FatCats team in FatCats Ventures. Whether or not the team opens up a project acquisition to the Executives will be on a case by case basis and only where there is obvious benefit to be shared with the members. For example, the purchase of Ape16Z saw the acquisition of their Launchpad. Executives who bought into this venture will earn a portion of revenue raised from all projects minted on the Launchpad for the duration that they hold the Executive NFT.

When a Joint Venture opportunity is presented to the Executives, the team will gauge how much interest there is. If there is more interest than there are shares, a raffle is carried out to determine who gets to mint the Executive NFT.

LYNX

Lynx was officially launched May 2023 with details available here.

Team Members	Role

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Henny

• Co-Founder and Operations Lead
• Twitter: @FatCatsHenny

Aladin

• Co-Founder and Marketing Lead
• Twitter: @FatCatsAladin

Denomics

• Royal Council and Core Team Member
• Founder of Skribr Network
• CEO of LYNX
• Twitter: @DeNomics_

SusWhale

• Accelerator Team
• Twitter: @sus_whale

Microwave

• Community Manager
• Twitter: @Microwave5473

LoneLambo

• Community Moderator
• Twitter: @flutovic

IMPORTANT ANNOUNCEMENT

The team announced on October 25th 2023 that the project would be closing down operations, selling off assets and distributing the remaining treasury among holders.

Initial Thoughts

One of the biggest things missing from FatCats Capital was brand awareness and the team have recognised this which is the driver behind the Art Upgrade and expansion of the community. The Team are really pushing for the development of FatCats Capital as a reputable brand bringing sophistication and value to the ecosystem and this is reflected in the new art.

The Accelerator

The potential to mint quality projects vetted by an intelligent team and then minted in a token earned via staking is an absolute no-brainer benefit in my opinion. That being said, it has been a difficult period for minting in recent times so this benefit hasn’t been fully realised but all one needs to consider is that under more bullish conditions, where significantly more projects are launching, this benefit could really turn heads. Of course, not every project is guaranteed to succeed, but the nature of such endeavours is that all you need is one project to take off and you’ll be sitting pretty.

The double-edged sword here is that if we assess the project purely on an ROI basis (i.e. X Cost of purchasing NFTs vs Y returns on projects being minted),

Community

Yes, I know this is a cliche but the FatCats Community is one I genuinely have more time for than most other projects. Most of the original holders that are still present are dialled in very well to the project vetting process, especially within the Executives. Significantly fewer people endlessly asking ‘wen moon’ is definitely refreshing.

The Founders themselves are looking to lead by example to set up the FatCats Community as the next exclusive and quality community to be a part of with several members of the community stepping up to voluntarily share their knowledge for the benefit of the community. An example of this is recently community MVP Sus_Whale led a session explaining how to use SharkyFi’s loaning platform and the strategies people can employ to extract profit. This kind of culture is being actively cultivated and I look forward to seeing the potential growth.

Main Concerns

My main concerns at present centre around the team and their marketing strategy. Mind you, this is purely based on what I know and there may well be plans for marketing in place which I am not aware of. The success of the project hinges on awareness of the brand and its products and at this stage, FatCats and Lynx remain relatively unknown. That being said, it is also my understanding that the FatCats team have also shifted to look at Web2 partnerships as well.

What irked me recently was following the close of the Ape16z and Sphynx upgrades into FatCats II, leftover cats from this phase were distributed via a raffle. The problem was that this was not heavily targeted at bringing people outside the community in and instead, enabled more holders to whale in at substantial levels. We’ve seen in other projects the problems that are created by having a large number of whales who gained that status by buying in at very cheap prices.

There have previously been issues where projects have signed on to use FatCats’ services only to flake at the last minute despite the effort the team had been putting in up until that point. Since contracts are extremely difficult to enforce in Web3, this has left the team hanging on several occasions. Whilst this isn’t the direct fault of the team, it’s a problem they’ll need to work out somehow. The team have hinted at several collaborations already in the pipeline. One can only hope they don’t have the same fate.