BrainDAO introduces the largest-ever update to the IQ token

Tue Nov 01 2022

Today, BrainDAO is introducing the largest-ever update to the IQ token with the launch of BrainDAO.org and the brand-new BrainDAO IQ Dashboard. In addition to the launch of the IQ.wiki platform in October, these changes represent the largest improvements and upgrades to the IQ infrastructure to date.

The IQ token’s new halvening tokenomics model triples the rewards for IQ stakers and increases the rewards for early contributors to IQ.wiki over the next 12 months. The model provides higher initial emissions to incentivize early adopters and gradually lowers emissions to ensure long-term sustainability. The IQ stakers who collectively make up BrainDAO voted in favor of the new model with the IQIP-14: New IQ Tokenomics for the New IQ.wiki Platform proposal passing with an overwhelming majority of votes.

In addition to providing greater rewards to early adopters, the new model makes the IQ token more sustainable. Every year IQ emissions will halve, sustainably decreasing emissions over time until they dip below 1 IQ minted per month in August of 2050 ensuring that the IQ token’s maximum supply cap of 21 billion tokens is never breached.

The new tokenomics will also help grow BrainDAO’s diversified treasury with assets such as IQ, Ethereum, stablecoins, and blue chip NFTs which back the IQ token. As part of the tokenomics update, IQ tokens will also go to the IQ.wiki company allowing for hiring more developers and directing greater resources toward growing the IQ.wiki platform and the IQ ecosystem. The new model also dedicates IQ token rewards to the upcoming NFT gauges system and the Brainies NFT collection. Brainies will be the first NFT collection with real DeFi rewards and will bring new value to the IQ ecosystem. Over time there are plans to add more blue chip NFT collections to the NFT gauges.

The brand new IQ Dashboard includes a wide range of new functionality and information for the IQ token, such as staking, bridging, voting on governance proposals, stats, where to get IQ tokens, the NFT raffles, as well as the assets held by the BrainDAO treasury. BrainDAO now also has a new homepage, braindao.org where more information will be shared on the progress BrainDAO is making in building out the IQ ecosystem.

Another new addition you will also see in the BrainDAO Treasury is two new blue-chip NFTs that have been acquired by BrainDAO. The Hashmask Gnostic and Pudgy Penguin #2614 which you can view here.

Hashmasks were one of the first generative art NFTs to gain traction. The collection launched in January of 2021, with 16,384 unique digital portraits, created by over 70 artists globally. Unlike most NFTs, where the rarity of all traits is set out by the creators, Hashmasks have two layers of scarcity: the creators provided an explicit set of traits to provide general guidance to the consumer but also created implicit traits that have not been explained by the creators. The most unique trait of a Hashamask however is its name since no two Hasmasks can have the same name. Holders can give their Hashmask a name by burning Name Change Tokens (NCTs). We chose to acquire the Hashmask Gnostic specifically for its name. The word gnostic means relating to knowledge and comes from the Greek word gnostikos, meaning "knowing" or "able to discern”. Our Hashmask Gnostic is a symbol of BrainDAO’s commitment to knowledge.

Pudgy Penguins are some of the cutest blue-chip NFTs designed with the values of love, empathy, & compassion. Pudgy Penguins launched in July 2021 and quickly rose to prominence getting covered in a New York Times Column just one month later. The collection has grown rapidly over the last few months with the launch of a media arm, physical toys, and a clothing line after the collection. In July 2022, they became one of the first NFT projects to use SoulBound tokens, issuing their own SoulBound token truePengu to celebrate the first birthday of Pudgy Penguins. The Pudgy Penguins' positive vibes and mission of accelerating Web3 innovation through IP utilization and community empowerment is a perfect fit for BrainDAO and the IQ token. The mission and vibes align well with IQ.wiki’s goal of becoming the hub for crypto knowledge and education. We chose Pudgy Penguin #2614 specifically for his baby pink skin and rare pink turtleneck trait.

The team has been constantly adding new features and integrations to IQ.wiki and just last week added new functionality that allows users to check & browse NFT IDs on NFT pages.