From ERC20 to NFT

UPDATE: NFT Collection is now live. View on OpenSea.

UniWhales DAO, as we approach our 3 year anniversary, are shifting from an ERC20 to NFT token.

Below you’ll find an FAQ touching on the major points of the transition.

When are you doing this?
Final snapshot will be taken on Tuesday, October 10th. Shortly after, later we will airdrop the NFTs.

Note you’ll have uninterrupted access to both the DAO chat and Cielo app during the transition.

Why are you doing this?

• NFT unit bias works better for Web3 communities.
• Major confusion in the greater crypto world around an ERC20 being used to gate a community and the purpose of the token.
• Reduce the maximum supply.
• Easier for NFT collabs (think Premint)
• Requested by multiple UniWhalooors.
• And last but not least, subscriptions.

Subscriptions?

While you, the UniWhales NFT holder, will be exempt from subscription fees, we, the company behind Cielo, will start to offer subscriptions to our free tier next year.

There will be a pro and a substantially higher priced whale plan.

While we must be tight lipped on our roadmap, we have some new products that have never been offered in the onchain tooling market.

And some of the most advanced features will go live early next year on the Whale tier.

What is the criteria?

It’s quite simple for the vast majority of you that hold 5,000 or 16,000 UWL. You will be airdropped a pro or whale tier NFT. Simply do nothing.

For those that have different amounts, we will use the following method to ensure fairness:

Every 5,000 = 1 UWL Pro NFT, Every 16,000 = UWL Whale NFT

Therefore it’s up to you to decide, if you have 18,000, you have a few options, including:

A) Add 3,000 UWL and you’ll have 21,000 (1 Whale tier NFT, 1 Pro tier NFT)
B) Sell 2,000 UWL for an even 16,000 and 1 Whale tier NFT)

Above 16,000 we start with whale tier and then pro tier. Example 37,000 UWL = 2 Whale Tier NFT (32,000) and 1 Pro Tier NFT (5,000)

Adjust your UWL however you like but make sure to be aware of the above methodology.

Will the team wallets be eligible for NFTs?

Nope, they are not. This will make the maximum community size much smaller than is currently possible now.

How will login work?

We will transition from the UWL ERC20 to the UWL NFT over the weeks following.

What happens to Uniwhaloor NFT and UWL?

Keep them in your wallet as a commemorative. We can’t promise anything for the future, but wallets that have the UWL NFT, UWL ERC20 and the Uniwhalooor NFT will have the most proven onchain longevity.