❓FAQ
Frequently Asked Questions❓
What is Degen Frog Republic? 🐸
Degen Frog Republic is the first frog state in the Metaverse. The NFT collection will give you access to the Metaverse Pond, that will be purchased after lunch.
Why would someone be interested in lending out their NFT's or borrowing NFT's?
Why should people lend out their NFT's?
In the section NFT Lending we explain the incentives in greater detail. In short, the major reason for lending out your NFT is to collect a rental fee as reward, whatever the asset behind the NFT may be.
Why should people rent NFT's? Depending on the kind of NFT lending we are talking about, different motivations come up:
Gaming: When borrowing other NFT's as an in-game asset, you get all the benefits, that the NFT holds for you - all without even having to purchase the NFT yourself, saving you a lot of money upfront.
Real Estate: Wanna host an event in the Sandbox Metaverse? Rent a virtual space as an NFT! Wanna get some items for your home? No need to buy em, simply rent em out. The same reason why you would rent stuff in the real world.
Company PFP: For branding reasons, many modern companies want their employees to have a reputable NFT as character when interacting online and in the Metaverse. Borrowing it out is one way to get that benefit for a buck.
Art Gallery: Bridging the Metaverse with the real world is the future of art - NFT's exhibited in real Art Galleries amongst famous paintings.
How to bridge Solana?
To transfer existing tokens from one network to another, please check out our guide on how to use Solana- click here
What are we planning to do with the funds raised?
We are planning to use the funds raised for product development, paying the team’s salary and expanding our meeting efforts in order to keep maintaining an engaged community and attracting newcomers to Degen Frog Republic's ecosystem 🐸🐸🐸
Does Degen Frog Republic have Governance?
The governing of the Degen Frog Republic is based on a long-term strategy. A first governance panel, a Community Club, will be launched soon to supervise the selection and ongoing administration of the platform's Community Farms. This endeavour brings Degen Frog Republic one step closer to becoming a completely decentralized and openly run ecosystem, as well as cementing the platform's position as Solana's go-to DeFi destination.
What Blockchain is the Ribbit Token on?
Our native token Ribbit will be launched on the Solana Blockchain
What is a lending protocol?
You can find a comprehensive introduction to Degen Frog Republic's lending protocol here.
Wen Mint? Wen Lunch?
Patience you must have, my young padawan. The exact time & date still need to be determined. We are working hard to deliver something incredible to you. Make sure to follow us on our social Media channels and join our Discord here.
How much does the citizenship of Degen Frog Republic cost?
Pre Sale/ White list: x Sol TBA Public Sale: x SOL TBA *(make sure to have an additional ~.05 SOL in your wallet for transaction fees.)
Do you have a Whitelist/ Pre Sale?
You absolutely don’t want to miss this. We have several Whitelisting challenges open, that will increase in difficulty getting closer to mint date. Kindly check our froggy Discord for more info! Get your Whitelist spot now!
Do I own the degen frog after purchasing?
Yes, with the mint/ acquisition of a Degen frog, the full intellectual property rights are automatically transferred to the buyer.
Which wallets will I be able to use?
Degen Frog Republic is powered on the Solana Blockchain. As a consequence, we recommend Phantom wallet. However, you will be able to use any other Solana compatible wallet alternatives at your own risk.
Do you have a rarity system?
Yes, we do. As mentioned all Frogs are dope, but some are rarer than others. Each Frog is a unique 3D Artwork that has been algorithmically generated on the base of 100+ traits.
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