Bard Guild Introduction

LootSwap Finance
3 min readJul 7, 2021

The bard guild is a place where artists can join together to create amazing artworks. Unless artists share their personal story, it stays as a mystery, a hidden past that is better not known. Telegram and Discord will be our shrine to receive inspiration, support and guidance. Sticking to our theme, members known as bards can use artistic ability to create, charm and inspire others. We care about inspiration, creation, and sharing. There is no need for war or competition as we are at safe haven. The bard guild strives to make NFTs, stickers and other art-based projects for other LootSwap guilds and other Harmony projects.

Quests

The Bard Guild will have a 5% deposit fee which will be used for BARD buy backs/burns and development.

Tokenomics

For our distribution model, we will be following LootSwap’s Tokenomics with a few tweaks. The minting max cap will be 10,000,000 BARD tokens.

50,000 BARD tokens will be allocated to the Bard Leader to do as he wishes.
1,000,000 BARD tokens will be allocated to LootSwap single staking rewards. 8,950,000 tokens will be paired off with 500,000 LOOT tokens.

Lockup rewards

There will be no lock up rewards.

Emissions

Bard guild will start out at x10 multiplier and will reduce by x1 multiplier every week until x1 multiplier.

Income

While we wish to make money with licensing artwork, we do have short-range goals for driving utility to the BARD token. Joining the LootSwap alliance, we will be offering BARD Crates utilizing special artwork for guilds across the platform. Joining forces with the GUILDs, we will offer crates that will be stuffed to the brim with NFTs, Achievements, and Guild Tokens! How will it work?

We will make a special Bard Crate filling it with 50+ 100+ or maybe even up to 1000 NFTs of a specific artwork styles, let’s say Necromancer Artwork. We’ll ask the Necromancer Guild to donate some NECRO tokens and add those into the crate. Users can then spend ONE tokens in order to buy BARD boxes and will have a chance to generate a common, rare, epic or legendary item. Over time, the crates will become more empty and it is possible that travelers will receive nothing but a small refund as a consolation prize. The proceeds of the crates will be utilized in the following manner:

  • 25% of the funds raised will be used to buy back and burn GUILD tokens
  • 25% of the funds raised will be used to pay the Artists
  • 50% of the funds raised will be used to buy back and burn BARD tokens

We will request that participating GUILDs list BARD token pairings as part of their QUEST to help drive artwork and creativity.

While the exact breakdown of the rewards may change, the concept is still the same. The crates and other endeavors will allow us to generate funds to support the BARD artists but also supporting the BARD tokens. By focusing on this model, BARD tokens can be used more for the intent of developing the NFT system and the artists don’t have to worry about dumping tokens for their salary. This will also enable us to incorporate other artists into the project because we can share a percentage of fees earned.

Treasuries

20% of the BARD tokens minted will be allocated into 4 treasuries:

  • 6% Development Treasury— Used for building our magical NFT playground. Bounties for a NFT marketplace, Bard Achievement Board, Integrating Achievement Board into Discord/Telegram, Tipping Bot
  • 6% Marketing Treasury — Building awareness for Bard’s Guild
  • 4% Partnerships/Liquidity Treasury — Primarily used for NFT related crypto projects
  • 4% Gambling Treasury —Funding BARD Crates and other high risk-high reward platforms.

Telegram chat: https://t.me/bardguild

LootSwap Note: Due to the nature of the Bard guild, LootSwap is going to throw full support behind the BARD Guild and focus our development in other areas of our road map. This guild will take over our NFT goals. Due to this and the fact that the BARD guild is utilizing their treasuries for the betterment of the community, LootSwap Artist will collaborate underneath the Bard Guild.

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