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Solana Ecological PFP Project DeGods Offers Migration to Ethereum Network for DeGods NFT Holders

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On April 1st, it was reported that the Solana Ecological PFP project DeGods has opened its migration to the Ethereum network to DeGods NFT holders, and DeGods will pay the migratio

Solana Ecological PFP Project DeGods Offers Migration to Ethereum Network for DeGods NFT Holders

On April 1st, it was reported that the Solana Ecological PFP project DeGods has opened its migration to the Ethereum network to DeGods NFT holders, and DeGods will pay the migration gas fee within the first 24 hours. DeGods will waive the DUST pledge/cancellation fee on ETH within the first 48 hours. In addition, the Paper Hands Bridge Tax will become effective from April 3. All remaining DeGods and y00ts on Solana will be updated with a mandatory royalty of 33.3%. T00bs will remain on Solana and receive a 3.33% royalty. DeGods on Ethereum will receive a royalty of 0.33%.

DeGods is open for migration to the Ethereum network, where DeGods will charge a royalty of 0.33%

On April 1st, the Solana Ecological PFP project DeGods announced that it is providing migration to the Ethereum network for DeGods NFT holders. With this migration, DeGods hopes to offer its users more flexibility and opportunities to participate in the DeGods ecosystem. In this article, we will dive deeper into the migration process, fees, and royalty scheme, as well as provide answers to some frequently asked questions about the DeGods project.

Outline

1. Introduction
2. What is DeGods?
3. DeGods Migration to Ethereum Network
4. Migration Fees for DeGods NFT Holders
5. DeGods Pledge/Cancellation Fee Waiver
6. Paper Hands Bridge Tax
7. Mandatory Royalty Scheme
8. T00bs and DeGods Royalty Comparison
9. Conclusion
10. FAQs

What is DeGods?

DeGods is an NFT-based project that allows users to purchase and trade unique god-themed NFTs. The project takes inspiration from ancient Greek, Roman, and Egyptian mythology, and seeks to create a unique collection of high-quality NFTs. DeGods also offers opportunities for users to stake their NFTs, participate in yield farming, and earn rewards in the form of DeGods’ native token, DUST.

DeGods Migration to Ethereum Network

As mentioned earlier, DeGods has opened its migration to the Ethereum network for DeGods NFT holders. This decision comes as a response to user demand for more flexibility and opportunities to engage in the DeGods ecosystem. The migration process is straightforward, and DeGods has provided clear instructions on how to proceed. Users who wish to migrate their DeGods NFTs to Ethereum can do so by following these steps:
1. Visit the DeGods migration portal
2. Connect your wallet (Solana wallet for now)
3. Select the NFT(s) you wish to migrate
4. Confirm the transaction
5. Wait for the migration to be completed
It’s important to note that users can only migrate DeGods NFTs to Ethereum, while T00bs will remain on the Solana network and receive a 3.33% royalty.

Migration Fees for DeGods NFT Holders

To incentivize DeGods NFT holders to migrate to Ethereum during the first 24 hours, DeGods will pay for the migration gas fee. This means that users who choose to migrate within the first 24 hours won’t have to pay any fees related to gas. However, after the first 24 hours, users will have to pay the regular gas fees associated with Ethereum transactions.

DeGods Pledge/Cancellation Fee Waiver

DeGods has also announced that it will waive the DUST pledge/cancellation fee on Ethereum within the first 48 hours of the migration. This means that users who wish to pledge or cancel their DUST holdings won’t have to pay any fees during this time frame. After the first 48 hours, regular fees will apply.

Paper Hands Bridge Tax

Starting from April 3rd, a Paper Hands Bridge Tax will become effective. This tax is a mechanism designed to discourage paper hands, or those who buy and sell assets quickly without holding them for a longer period. The tax will apply to users who buy and sell DeGods NFTs within a short period. Users who hold their NFTs for longer periods won’t be affected by this tax.

Mandatory Royalty Scheme

DeGods has also introduced a mandatory royalty scheme for all remaining DeGods and y00ts on the Solana network. Under this scheme, all remaining DeGods and y00ts will be updated with a mandatory royalty of 33.3%. This means that any future trading of these NFTs on the Solana network will be subject to this royalty. On the other hand, DeGods on the Ethereum network will receive a lower royalty of 0.33%.

T00bs and DeGods Royalty Comparison

It’s worth noting that while DeGods on Ethereum will receive a lower royalty than those on the Solana network, T00bs will remain on Solana and receive a 3.33% royalty. This comparison is important for users who may be considering migrating their assets to the Ethereum network. While there may be some advantages to moving to Ethereum, users should also consider the royalty differences and how they might impact future trading.

Conclusion

DeGods’ decision to provide migration to the Ethereum network is a significant step for the project and its users. The migration offers more flexibility and opportunities for users to engage in the DeGods ecosystem. Additionally, the migration fees waiver and mandatory royalty scheme are likely to incentivize users to migrate their NFTs to Ethereum. However, users will need to consider the potential impact of these changes on their assets.

FAQs

Q: How long will DeGods pay the migration gas fee?
A: DeGods will pay the migration gas fee for the first 24 hours after the migration starts.
Q: How long will DeGods waive the DUST pledge/cancellation fee?
A: DeGods will waive the DUST pledge/cancellation fee on Ethereum for the first 48 hours after the migration starts.
Q: How does the Paper Hands Bridge Tax work?
A: The Paper Hands Bridge Tax is a mechanism designed to discourage paper hands by imposing a tax on users who buy and sell DeGods NFTs within a short period.

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