Rare Presidents White Paper
Introduction
Rare Presidents is an innovative blockchain project designed to gauge the crypto community's sentiment towards the major presidential candidates in the upcoming 2024 US presidential election. The project leverages the power of cryptoart and meme coins to create a unique and engaging experience for participants while promoting blockchain technology as a force for good through a DAO system that allows people to vote on charitable contributions.
Project Overview
Rare Presidents consists of two identical projects launching simultaneously on the Ethereum blockchain, each focusing on a major presidential candidate - Donald Trump and Joe Biden. As Joe Biden has dropped out of the 2024 Election, his revealed art will depict images of the new candidate Kamala Harris. Each project has two components:
- Two NFT Collections: 2 collections of 10,000 unique, FREE-TO-MINT ERC-721 NFTs featuring stylized AI-generated art representing the respective presidential candidate's portrait.
- Two Meme Coins: 2 ERC-20 meme coins associated with each presidential candidate, with a maximum supply of 69,000,000 tokens each.
Buying an NFT or meme coin should serve as a predictor for who the user thinks is more likely to gain support from the crypto community and win the election, not necessarily indicating direct support for the candidate.
NFT Collection
Free Mint
The NFT mint is FREE. There is a maximum mint amount of 10 NFTs per wallet. Please follow our Twitter and Discord for real time updates on the exact time of mint.
Total Supply
Each NFT collection consists of 10,000 NFTs, divided into 33 stylized sets based on unique human art styles, such as Surrealism, Steampunk, Calligraffiti, and more. Each set contains 303 NFTs, and the NFTs are pre-reveal, meaning they have a default image that will be dynamically updated in small batches on a bi-weekly basis leading up to the election.
Rare Obamas & Rare Ws
In both the Republican and Democrat collections, one NFT in each set of 303 is RARE, featuring an image of George W. Bush for the Republican collection and Barack Obama for the Democrat collection in the art style associated with the set. Each of these is considered the "rarest" piece in each set.
NFT Reveals
The NFT reveal will occur in batches of 303 every day leading up to the election starting on September 1st, 2024. The tokens being revealed are completely random, and participants will not know which NFTs will be revealed at any given time. On election day, the final NFTs will be revealed - a GOLDEN Trump and GOLDEN Biden. These are dynamically created based on the outcome of the US Presidential Election, representing the holy grail of each respective collection by depicting the results in visual form.
Official Nominations
The project begins by revealing images of Trump and Biden. However, if either candidate does not receive the official presidential nomination, the art and collection will be dynamically updated with art featuring the officially nominated candidate in the same art style. Due to Kamala Harris becoming the officially nominated candidate, Rare Bidens will reveal images of Kamala Harris.
Claim Mechanism for Token Allocation
NFT holders will have the option to burn their NFTs by depositing them into the NFT contract in exchange for an allocation of 420 $REP or $DEM tokens per NFT. This exchange process will be available for each NFT only after the art is revealed for that NFT. Each NFT can only be exchanged once to claim the tokens, ensuring a fair distribution among participants. Burning your NFT means you are permanently losing access to it, removing it from the supply, and surrendering your DAO membership. This creates a deflationary mechanism for the NFT collection where the available supply gradually decreases over time.
Meme Coins
Token Distribution
The $REP and $DEM tokens each have a total supply of 69,000,000. There is a maximum transaction limit on launch of 420,000 tokens (≈0.609% of the max supply) to ensure fair distribution and deter market manipulation. This will be removed shortly after launch.
The token minting distribution is as follows:
- 42,000,000 tokens (≈ 60.9%) are available in the Liquidity Pool at launch.
- 4,200,000 tokens (≈ 6.09%) are reserved for NFT holders, claimable by staking NFTs after they are revealed.
- 4,200,000 tokens (≈ 6.09%) are held for potential future exchange listings.
- 18,600,000 tokens (≈ 27%) are reserved for adding additional liquidity and token burning. These are held in a smart contract that CANNOT withdraw or sell tokens. The only functions available in this contract are ADD LIQUIDITY and BURN TOKENS.
- No tokens are reserved for the team.
NFT holders can claim 420 tokens per NFT they stake after their NFT's art is revealed. This staking process allows for a fair and gradual distribution of tokens to community members.
Liquidity Provision
$REP and $DEM will each launch at approximately with 1.11111111111 ETH of initial locked liquidity, allowing for the injection of additional liquidity as the market demands while maintaining a reasonable bar of entry for buyers. At launch, there is a maximum transaction limit of 420,000 meme tokens (0.609% of the supply) to ensure a fair distribution of tokens. This maximum transaction limit will be removed shortly after launch.
Charitable Contributions
A significant portion of the project's proceeds will be donated to a charitable cause chosen by NFT holders on Election Day. A 1% royalty applied to the token's transfer function will fund the project's operations and charitable contributions. Sell transactions will trigger a minimum swap amount of accrued fees into ETH immediately following the user sale. No tokens are reserved for the team. This structure allows the project to incrementally fund itself without manually batch selling tokens, creating a healthy and sustainable token environment. Our incentives are aligned with yours. The project's success is dependent on a sustainable and healthy trading environment.
A significant portion of this royalty will be allocated toward charitable contributions. Factors such as the fluctuating price of ETH and AGI of the project by Election Day will influence the exact amount and currency of this contribution to ensure alignment with the US government's guidelines governing charitable contributions of cash or property as outlined in IRS Publication 526.
The Republican DAO and Democratic DAO will each vote on Election Day to determine the charity that will receive the contribution. Depending on the amount of funds generated, the project may establish a non-profit whose mission and focus is voted on and managed by each respective DAO, to ensure alignment with the values of the DAO and their respective candidate. In lieu of the establishment of a DAO-powered non-profit, each DAO will be presented with a list of existing charities that align with the mission and values of their respective presidential candidate. Contribution options will include charitable missions such as combatting trafficking, supporting veterans, combatting animal abuse, and more.
DAO Governance
The Rare Presidents project will implement a decentralized autonomous organization (DAO) governance model to ensure community involvement and transparency. The governance process will be conducted through our Discord server, utilizing tools such as Collab Land and Snapshot.
Collab Land will be used to verify NFT ownership and token holdings, granting appropriate roles and access within our Discord community. This ensures that governance participants are verified holders of the project. If you deposit your NFT into the contract to claim your tokens you are resigning your membership within the DAO.
Snapshot will be employed for voting on charitable contributions, with a snapshot being taken at 12:00AM EST on November 5th 2024. Shortly after, voting will be available on Discord and will conclude at 12:00AM EST on November 6th 2024.
Project Roadmap
The roadmap for Rare Presidents is straightforward:
- Launch $REP and $DEM meme coins
- Launch Rare Trump and Rare Biden NFT Collections
- The NFT collection is FREE TO MINT with pre-reveal art
- The NFT art reveals in random sets on a bi-weekly basis
- AFTER the art reveals, you are able to claim your $REP or $DEM tokens by burning your NFT
- On 11/05/24, all NFT holders vote for charitable donations to make on behalf of their candidate
- Charitable donations are made from royalty proceeds to the charity of each DAO's choosing
After the initial vote, the tokens and NFTs will continue to live on the blockchain, and the organizers will make charitable contributions on an annual or quarterly basis.
Disclaimer
Rare Presidents is a cryptoart project and does not represent an investment contract of any kind. Participants should treat this as an experimental art project. It is crucial not to spend more money than is responsible, as there is a real possibility that external factors could result in the loss of funds. The primary purpose of this project is to serve as a large scale commentary on the state of sensationalism in politics and the importance of implementing beneficial policies regarding blockchain and AI technology. Please meme responsibly.
This project is a cryptoart initiative providing cultural commentary and is not associated with, endorsed by, or affiliated with Donald Trump, Joe Biden, Kamala Harris, Barack Obama, George W. Bush, or any other presidential figure, campaign, or political party. The use of names and likenesses is protected under fair use for commentary, criticism, and parody.
The NFTs (non-fungible tokens) produced through this project represent AI-generated images of these presidential figures. These NFTs are intended purely as artistic expressions and cultural commentary. Minting these NFTs does not constitute an investment contract, and buyers should not expect to receive any financial return or benefit from minting. The $REP and $DEM meme coins are intended for entertainment purposes and do not have any inherent value or guaranteed financial return. Purchasing these meme coins does not constitute an investment contract, and buyers should not expect to receive any financial return or benefit from their purchase.
The creators of this project are not responsible for ensuring that individual participation in this project complies with any local, state, federal, or international laws and regulations. Participants are responsible for understanding and complying with all relevant laws and regulations in their jurisdiction, including but not limited to tax obligations.
Participation in this project involves risks, including but not limited to the potential loss of funds, market volatility, and regulatory changes. Participants should fully understand these risks before participating. The creators of this project are not liable for any financial losses or legal consequences incurred by participants.
The use of names, likenesses, and any other references to public figures are purely for artistic and commentary purposes. This project does not imply any endorsement, approval, or association with these individuals or their estates.
Conclusion
Rare Presidents offers a unique and engaging way for the crypto community to express their sentiment towards the major presidential candidates in the upcoming 2024 US presidential election. Through the use of NFTs and meme coins, the project creates a dynamic and interactive experience that combines art, technology, and political commentary while promoting decentralized media and blockchain technology as forces for good. Utilize the power of memes to shape the world for good.
