Is it worth buying The Llamas, an NFT project in the Curve ecosystem?

Should you buy The Llamas NFTs in Curve?

The Llamas is a DeFi-focused NFT project within Curve’s ecosystem, with a strong emphasis on aesthetics. Apart from serving as a visual representation, The Llamas can also be used as a means of exposing vulnerabilities in the Curve protocol. Encryption researcher 16131 provides a brief overview of the project’s progress and future plans.

The total number of Llamas is set at 1111, of which 82.9% is allocated to the community in different forms. The Llamas collectively hold the treasury, which will purchase Curve ecosystem-related token mining. In addition, the treasury has a multi-signature feature. So far, 834 Llamas have been minted, each worth about 1.25 ETH. The current average bidding price is 2.17 ETH. Based on this price, each Llama will be worth around 1.4 ETH after all are minted.

The treasury is mainly exposed to Curve ecosystem-related protocols, so its value fluctuates accordingly. 50% of the profits go directly to the Llamas, while the other 50% are reinvested in the treasury. Currently, most of the protocol’s income comes from the ETH obtained from auctions, and future secondary trading fees will also enter the treasury.

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Future plans for The Llamas include: 1) a badges system: aimed at building an on-chain reputation system that rewards existing contributors while attracting new participants; 2) LaunchBlockingd: LlamasHaus will be able to deploy tokens, NFTFi, or on-chain art through various mechanisms. Currently, LlamasHaus will be deployed on the mainnet, and in the future, it will be deployed to L2 and sidechains according to community members’ decisions.

Reference: https://twitter.com/16131_/status/1662167374097965056

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