Raggie Rehoming Centre
An innovation geared at creating value and utility for all of our tokens and forms a crucial part of a circular economy facilitating a sustainable tokenomic structure for $RAG
Last updated
An innovation geared at creating value and utility for all of our tokens and forms a crucial part of a circular economy facilitating a sustainable tokenomic structure for $RAG
Last updated
Raggie Rehoming Centre is essentially a Raggies marketplace where Ragsters can buy (rehome) Raggies using $RAG. These are Raggies that have already been minted and comes from the existing circulating supply. Rehoming a Raggie is not a minting transaction and does not affect total supply.
Many parts of our project has microtransactions built in, resulting in a small ADA profit per transaction coming from dust fees associated with native tokens sent to us. When we combine these native tokens into a single UTxO, the result is that the ADA amount required to be locked with these tokens dramatically falls. This frees up locked ADA which we could use to further create value for our ecosystem.
It is with these ADA that we are able to buy Raggies at floor price from the various marketplaces, and list them at the Raggie Rehoming Centre to be rehomed for $RAG. We check the floor price using opencnft API, and work out the current $RAG/ADA exchange rate based on our liquidity pool on Minswap, and we always ensure that the total cost of rehoming, in ADA value, is lower than the current floor price. This means that rehoming a Raggie using $RAG is always the most economical way to own a Raggie outright, and we can do this while raising the Raggie floor price (by our buy pressure) and creating demand and utility for $RAG at the same time.
This depends on the rate at which the RaggieStore wallet manages to accrue ADA that can be used to buy Raggies off the floor. We don't normally list Raggies for rehoming immediately after buying them from the markets. We sometimes do, but not often. We want this unpredictability so everyone stands a chance, and it is not easy to spot a pattern as there is none. We also try our very best to list them for rehoming during different times of the day in our own timezone so more people can benefit.
As explained above, the total cost of rehoming a Raggie will always be lower than the floor price on secondary markets. We charge a $RAG fee and a flat 5 ADA fee for each rehoming transaction. This is the total cost and it will always be below the current floor price. The 5 ADA component is very important for us to be able to continue to run this rehoming programme, because we never liquidate any $RAG in our project wallets to get usable ADA value. You can get a rough gauge of how much $RAG to get ready in your wallet to snipe the next rehome deal by looking up recent prices in the 🏠recently-rehomed channel in our Discord.
