Staking

Staking of the NFTs is unique in the sense that no SPL tokens are involved and holders instead earn y00tpoints at a rate of 1 y00tpoint per minute of staking.

At present, there is no immediate use-case for accumulated y00tpoints but future utilities include redemption for rewards and to mint projects launched on Polygon through the y00ts incubator.

Clubs

y00ts brings a rebrand of the traditional sub-DAO concept through the y00ts clubs. The clubs provide an opportunity for holders to band together and bring value, provide competition and build their respective communities centred around their traits. At time of writing, the most prevalent communities include N00unsDAO, McY00ts and y00tletics.

Incubator and Launchpad

Perhaps the most exciting utility is creating a significant incubator and launchpad service for the Polygon community with holders being able to mint new projects launched with their y00tpoints. This is particularly exciting given the existing partnerships that Polygon have and the potential for that to be leveraged by the y00ts incubator.

UPDATE: Following the announcement of y00ts migrating to Ethereum, it is unclear if this remains part of the plan.

De[ID]

Alongside the de.xyz announcement, the DeLabs team released De[ID].

De[ID] functions as a verification system for DeGods and y00ts holders on Twitter. Where fake accounts using other people’s PFPs to drive scams is very common, this tool allows the community to verify and connect with each in a way not seen before.

Team Members	Role

Powered by

Frank

• Founder
• Twitter: @frankdegods

Kevin

• Dust Labs CEO
• Twitter: @kevindegods

Update: August 17th 2023

Needless to say, the migration to Polygon did not go according to plan. Whilst I am not aware of specific details behind the scenes, I take comfort in knowing that the team felt more than comfortable returning $3 million in funding in order to allow them to migrate again.

Unfortunately this still leaves many unanswered questions for a y00ts community that has been waiting very patiently without much happening for them. Frank and the team will be the first ones to acknowledge the disappointment from holders that none of the plans on Polygon came to fruition. That being said, the move to Ethereum was met very positively from the community due to the higher liquidity and trading volume available on the network compared to Polygon.

However, questions still remain over the path forward for y00ts. Will the incubator program remain part of the plans? How will y00t points fit into Points Parlour?

Frank and the team definitely have their work cut out for them to keep such a large community happy.

Initial Notes: 31st March 2023

Summary

y00ts is first and foremost a brand/community play. The curated community is aimed at creating a space for learning, growth and discussion among holders from all walks of life. As an example, members of the community have already created a club to educate holders in coding which can be found at De;Code.

The move to Polygon certainly attracted a lot of attention, drew a lot of opinions, and certainly a lot of ire. Most of the negative sentiment is based around the significantly smaller NFT community on Polygon compared to Solana. For me personally, I see this move as a potentially huge power play. It is true that at present, the NFT space on Polygon is small. This however, presents an opportunity which Frank and the team have clearly identified. I personally see the opportunity for the project to position itself and take that ‘Number One’ title on a growing chain with immense partnerships in the future as a huge power play with massive upside. It should be understood that Frank, Kevin and the rest of the team do not make such decisions lightly and are prepared to be bold in where they lead the project. It is clear to me that they have identified the growth that is coming to Polygon and have decided to be one of the first movers into that space.

Consider that Polygon already have these following partnerships (among many more):

• Reddit
• Adidas
• Starbucks
• The NFL
• Disney
• Adobe

Given that Frank and the team have a direct line of dialogue to the Polygon Founders, it is not unreasonable to think that y00ts will have access to these companies for collaboration. If even one of these companies decides they want to launch an NFT project and get pointed to the y00ts team for incubation, the potential upside and exposure to holders could be immense and something I am truly excited about.

De[ID] was also an absolute masterstroke. In hindsight, it seems like such an obvious thing to create, but it was the DeLabs team that thought to create it. The ability to verify and connect with your fellow community members further drives that tight-knit sentiment that the project has created.

The Team

I strongly believe the biggest assets to the project is in their leadership team, especially with Frank. Brand plays rely very heavily on the presence of their community in the space, but also their leader. I doubt there are many people in any of the NFT ecosystems who put themselves at the front of attention the way Frank does which drives hype and attention to his community as well. It amazes me how someone so young is able to make such a target of themselves, not get affected by the community and still have the drive to push his agenda.

The Migration

This took place on March 27th and it must be said that the process was extremely smooth and very aesthetic as well. The team’s decision to airdrop some MATIC and DUST to the receiving Polygon wallet was a wonderful gesture to help their holders migrate and stake their y00ts straight away if they were still navigating working across chains.

Cross-chain collaboration will be a huge part of crypto’s future and the DeLabs team are looking to lead the way on that.