Introduction

48 Club® was founded in Sept. 2017 by a diverse and tight-knit group of investors with a common passion for BNB. They now have over 500 club members with various backgrounds hailing from all over the world. 48 Club® is run as a decentralized autonomous organization (DAO) and its main areas of operations and expertise are industry research, angel investment, product development, community development and management, and technical operations and maintenance.

KOGE Token

KOGE is a BEP-20 token issued on BNB Chain (Smart Chain), which basically represents every right and benefit in 48 Club.

Distribution Plan

Koge will be issued on Binance Smart Chain as a BEP-20 token with a supply of 5,000,000. Until Septemeber 2020 1,000,000 Koge was recorded as recognition of BNB early donations to the club.

The club reserves 1,000,000 Koge for tecnology , marketing, and other costs.

The will be 2,250,000 Koge in the IDO pool with the initial price being 0.03 BNB. Market price will drift slowly as DODO's PMM algorithm reacts to the market dynamics without artificial interference. Once the total raised funds hits the minimum requirement (25,000 BNB) they'll close the public round and burn all of the remaining Koge if only any of the following three conditions are met:

• All Koge in the pool is sold

• Total raised funds hit 75,000 BNB

• The round lasts for another 7 days

Then all remaining Koge in the IDO pool will be burnt.

As soon as IDO starts, Koge is tradeable on chain. The club will provide an initial liquidity of 750,000 Koge on Dodo ex, in order to avoid price volatility due to lack of liquidity. This is a short term measure and will last no longer than 30 days.

Token Allocation

Voting

The vote occurs on 48 DAO. Only staked KOGE represents voting power. Notice that once staked, you have to wait 7 days before being able to unstake. Another 7 days is required to withdraw un-staked KOGE.

The club will periodically allocate KOGE into a voting incentive pool. Both proposers and voters will be eligible for incentives.

Every time a proposal is created, a dedicated proposal pool will be too. A default 4.8% share from the total pool will be extracted with a floor of 480 KOGE and a ceiling of 1000 KOGE.

Once the proposal finishes its voting period(quorum met), the proposer will get 8% from the proposal pool and then all voters split the rest according to respectively voting power. Otherwise, 4.8 KOGE will be returned and claimable by anyone.

Propose

Everyone can make a proposal if only and only if there is a 48er NFT held in the wallet, only the proposer must contribute to the proposal pool, 48 KOGE at least.

Vote

Everyone can vote for/against a proposal if only and only if there is KOGE staked from the wallet.

48er NFT

You are required to hold an unoccupied 48er NFT to propose in 48 DAO. One 48er one proposal.

The very first 48er NFT is minted by burning 48 KOGE. Each time a 48er is minted, the amount of KOGE required to be burned for the next minting will increase by 4.8%.

Creators are allowed to customize how the NFT looks, but it is only free when creating. Each additional modification calls for the burning of 0.48 KOGE.

There is no hard cap on 48er NFT.