PlanckCat DAO (PCD) is a DAO for Overlay contributors to participate in Overlay Protocol via PCD NFTs on Arbitrum.
A maximum of 500 original PCD will be minted for core contributors (those who are part of the Gnosis safe, and those who accumulate Cred by contributing - more below).
We also have the ability to mint custom PCD. The 12 members of the Gnosis safe have custom PCD. These PCD are one off and take the place of a normal original PCD.
Confusing? Okay, let’s break it down.
500 original PCD were generated. They’re great and cute and look like this:
It’s PCD #1
These PCD, when minted, have numbers associated with them👆.
Because @mikeyrf is a mighty solidity slayer, we are able to mint custom PlanckCats, which, when minted, take the place of an original PCD at the series number it was minted at. So, at the time of writing, we have minted 12 PCD. Our next mint, either original or custom, will be #13.
There will only ever be 500 original PCD. However, 500 is the soft-cap. The DAO can vote to mint custom PCD at any time. Custom minting is a manual process, and takes effort, so even though PCD total supply can grow, it will only grow slowly, and only at the behest of the DAO.
Why would the DAO vote to add more PCD to the total supply? Perhaps many reasons, but one could be for growth of Overlay through partnerships with other protocols.
Which of course, brings us to the utility of PCD. The utility is likely limited to the imagination of our community. At this time, owning a PCD gives you governance rights. When Overlay launches, PCD should also give the holder discounts on trading fees.
You do not have to be part of the DAO to contribute, but you do need to have an NFT to vote and participate in governance. 1 NFT = 1 Vote.
Governance voting will be held on Snapshot.
PlanckCat DAO Governance is still evolving, but here are a few of the things that PCD could do:
Now that you know what PCD is, and what it does, let’s move on to how to get it.