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Solana-based Platforms Cyclos, Solatars Release Le Cougar Clique NFT Drop

Wed, 11/24/2021 - 15:00
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Vladislav Sopov
Batch of 10,000 cougars will be released as part of CycloSwap DeFi platform mechanism
Solana-based Platforms Cyclos, Solatars Release Le Cougar Clique NFT Drop
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Le Cougar Clique is a unique hybrid DeFi/NFT protocol with built-in deflationary mechanism Cougarnomics. As such, its NFTs become scarcer over time.

Le Cougar Clique released by Cyclos and Solatars

According to a press release shared with U.Today, Cyclos, a concentrated liquidity AMM on Solana (SOL), together with mainstream digital artists Solatars, are going to release Le Cougar Clique collection of non-fungible tokens.

Due to an eccentric mechanism being implemented, "Cougars" are deflationary by default: every two weeks, 25% of CycloSwap platform fees and 15% of Cougar sale royalties will be used to "cull" the "weakest" Cougars.

With these assets, tokens will be bought back from the market, so the aggregated available supply of Cougars will be reduced step by step.

Partially, fees raised from Cougars sales in CYS—the core native token of Cyclos DEX—will be restaked in a number of purpose-made pools.

Jason O'Brian, co-founder of Cyclos, stresses that the ongoing release is of particular importance for the community-building strategy of his DEX:

By linking the supply of Cougars with Cyclos, our aim is to create a virtuous cycle between the two products and their communities. As the Cyclos ecosystem continues to expand, so too will the utility cases for the Cougars. Our intent behind founding the Cougar Den (the DAO behind the project) will be for the community to collaborate on developing future use cases together with the Cyclos team.

Bringing concentrated liquidity to Solana

Cougars NFT drop will be released in early December 2021 through a minting event on the official website of Cyclos decentralized finance protocol.

Cyclos promotes itself as the first concentrated liquidity automated market-making engine on Solana. This revolutionary concept allows liquidity providers to enjoy fast and resource-efficient trading on the red-hot Solana blockchain.

Also, Cyclos aims to create liquidity pools for the widest range of assets: starting from "basic" stablecoin-to-stablecoin pairs to exotic low-cap cryptocurrencies.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)