Roadmap and White Paper

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White Paper

What is our Project?


As an avid saltwater reef tank enthusiast, I wanted to bring to the world an NFT project that not only gives rewards to its holders but also provides something back to the environment.

Our Reef Pets NFT project will create both a reward for our holders and a reward for non-profit organizations that work with marine life and coral reefs.

The first NFT created for our project will be a standalone NFT for our community to simply hold for WCRO rewards and double as a Founders Token. Once minted out, we will begin working on our full line of NFT’s based on marine life animals and corals. The second line of NFT’s will all be different from each other and have different rarities.

It was important for me to come up with a project that did 2 things. 1. Give back to the holders in some form of reward and 2. Give back to the world in some way to help our environment. I do not think many NFT’s, or tokens right now are doing either and we want to change that.

We have partnered with our first nonprofit Reef Restoration Foundation from Cairns Australia. They are a grass-roots company built from the ground up by hand. They have no government backing and rely solely on donations to save areas of the Great Barrier Reef from Coral Bleaching and damage. Please check them out at https://reefrestorationfoundation.org/

Why are the reefs of the world important?

They provide protection to the coastlines from storms and erosion while also providing jobs to local communities. They also provide recreation such as diving or snorkeling along with being a source of food and medicine for over a half a billion people. Coral reefs are known as the “Rainforests of the Sea” because they also provide a quarter of all marine life with food and shelter.

 

We will launch and mint our NFT line on the Croking Platform. 
Our plan to offer utility to our holders comes from the Tokenomics that Croking already provides! We plan to list our first NFT in quantities of 1500. Our pricing will be 500 CRO on the day of mint. A breakdown of allocated percentages can be seen below.
15% to 18% Donated to Reef Restoration Foundation
41.5% Will be used to purchase CRK to reward our holders with WCRO and CRQ will be donate from our personal wallet continue to grow the bag of CRK and CRQ.
35% will go back into the project to help develop our follow-on line of NFT’s, collaborate with other developers to grow our project in other ways (gaming, ReefPets Island, and token, etc.), cover administrative costs, artist retainer, bring on full-time staff such as developers and coders, and marketing.
8.5% will be utilized for prizes and drawings back to the community.
Please see the below information regarding CRK/CRQ Tokenomics to better understand the rewards system.
Croking and Croqueen both operate based on buying and selling actions along with volume on chain.
CRK operates with a 12% buy tax broken down into 5% to LP, 5% to Reflections, and 2% to Marketing and a sell tax of 15% where 5% goes to LP, 5% to Reflections, and 5% to Marketing.

 

CRQ is very similar in that it has a buy tax of 6% where 1% goes to LP, 1% to owner, 2% CRK Rewards to holder, 2% Reflections for CRK/CRQ NFT holders. The sell tax is 10% where 1% goes to LP, 2% buyback for CRK, 1% Reflections for CRK/CRQ NFT holder, 3% CRK rewards, and 3% to the Dev Wallet.
We will be buying as a community 20T tokens of CRK which is the max a wallet is allowed to hold and donating our own 500B CRQ. This is just the beginning.
With each NFT line release we can either continue to purchase CRK/CRQ or, venture into a different Reward Token if the community so desires, as of now CRK/CRQ and CMP is the path forward for us. There are many more ideas for this project other than just holding NFTs and collecting rewards. Please see our roadmap attached.
The theme and styles of our NFT’s will be marine related such as Clownfish, Crustations, and Corals, and Invertebrates. All NFT’s in the future will continue to support non-profits working to sustain the marine life around the world. Each release of new NFT’s we will partner with a new non-profit from a different location in the coral reef arena.
We feel holders and new purchasers can feel good doing something for the environment while also getting a cool NFT and rewards.
Currently we have our Twitter account set up @ReefPetsNFT along with our Discord, Telegram and YouTube Channel. There is still much to do, and we are working very hard to get it all done so we can continue to grow!!! Thank you for taking the time to review our white paper and our roadmap.
Reef Pets NFT Team