Q: Could you tell us how NCAT was created? Why did you choose such a name?
A: NCAT was created mostly as a fun community experiment on BSC. The aim was to see how far the community could go using an actual DAO, the first one on the Binance Smart Chain. We have one developer who has completed the sole majority of the DAO, as well as some other aspects of the coin. However, since the inception, NCAT has shown its true colors. Starting with only a few admins, we now have upwards of 29 ‘core’ admins, with some ~20 more, running our international NCAT channels. The project is functioning autonomously, with no admin taking precedence over any community member. After all, the huge majority of the admin team at the NCAT project were originally community members who took a special interest in NCAT and were highly active. It means that any willing person is capable of becoming an admin and part of the core team.
The name ‘NCAT’ originated from quite a funny story. We were originally branded ‘Nyan Cat Token’, after the well-known Nyan Cat meme and extremely catchy tune. Soon after minting our token and going live, we were contacted by the creator of Nyan Cat who was not very happy! The ‘Nyan Cat Token’ team and the Nyan Cat creator came to a happy medium, and we rebranded our token to ‘NCAT’. The creator of Nyan Cat and the NCAT team are on good terms, and we are happy to be able to grow into our own identity.
Q: What is the philosophy behind NCAT?
A: It has, and always will, remain the same. We will have a fully functional DAO where any community member holding more than 100B tokens can propose any idea. Next, any member of the community holding NCAT can place a vote in favor or against that idea. Our mission is to give everybody a voice and to allow the community to shape the direction of where NCAT should go. We are accomplishing a plethora of things in the background which will be released soon. As I have mentioned, our team of admins were originally community members, and each member brings important skills to the table, so we can make these DAO proposals a reality. You can check it out here.
Q: How will NCAT change and help the crypto environment? What is the advantage of NCAT over other new coins?
A: NCAT is changing all the time. The purpose of our DAO is to give members the chance and choice to completely change the direction of NCAT. In the one month since our launch, we have designed merch that will be shipping soon through our website. We have a videogame in the works which has the intention to fully foster the NCAT experience, including unique burn incentives, DAO interaction, and a few other surprises TBA. The amazing thing here is that NCAT can be forever changing and moving in the directions the ‘crypto world’ offers us! Every so often, new ‘crazes’ or ‘fads’ appear in crypto, and we can actively pursue them (if that is what the community wants). This way, NCAT is never stuck in the same spot. We will be always searching for the next amazing thing to complete! Do not mistake us for unfocused and scattered through. As our ambitions grow, the number of active community members increases, giving each project an ambitious and passionate spearhead.
This aspect alone gives us a huge edge over other tokens. Some tokens provide one utility as their mission and may be quite stuck in the service they provide, while others may even provide none at all. Unlike them, NCAT is forever fluid and able to pursue different goals that the community desires.
Q: It is a difficult time now where many projects have failed due to the COVID-19 pandemic. What factors make your team excited about making NCAT a success? How do you handle European GDPR regulations? Many projects have stalled or failed at this point. 🤔
A: COVID-19 has been an extremely difficult time for everyone. Its impact on the crypto space is no exception. Many projects have stalled or failed to get off the ground. We are extremely grateful that NCAT has been able to not only stay afloat but grow and blossom during this time. I must attribute this to our dedicated community stepping up into various admin positions and providing new, innovative, and wonderful things to the table. We really owe our success to our team and The Clowder at large.
Regarding the GDPR regulations, we have not attempted to address this yet. The core of our project is DeFi that is not focused around any particular country or its regulations. This does not mean that we will not address it; however, we have not taken on the task in one month since the NCAT’s debut. We have several wonderful members that the GDPR regulations affect, including a personal friend of mine that helps me in NCAT matters daily. We would like to be fully prepared when tackling the issue, with the right people leading the initiative. We are in no rush to step into anything like this haphazardly.
Q: I am following you on Telegram and I see that you want to develop merchandise and souvenirs from the project. When at the end of May you announce the NFT platform, I would like to see it as an opportunity to create and order cards with photos of your pets, a hologram, and a QR code confirming the ownership of the NFT by me. I will be glad to see this feature as it is a great prospect for the entire community. Our pets will remain forever not only in our hearts but also on the blockchain.
A: Excellent! Suggestions like these are part of what makes NCAT and the DAO so great. We are excited about the potential of the NFT element of our project. It will offer us the opportunity to interact with our community in ways that go beyond being part of the portfolio. Your idea is really interesting, and I can certainly see the merits. As we operate with a DAO, this would be something you can present for consideration. If you are successful, we would be excited to help you make this a reality.
We will be creating multiple collections outside of the community/DAO commissioned sets. The first one being an OG collection which is 8-bit themed and created by a great graphic designer who also did our logo and other graphics found on our website. We will have a contract set up that stores these minted NFTs. Users can burn their NCAT tokens to mint a random NFT ranging from common to legendary. Further collections that are introduced to the pound would be community art voted to be a part of the collection. This helps NCAT as it creates a further avenue to become deflationary. Here is an example that you may have seen floating about, a little zombie cat that I adore ❤️
Q: A part of the initiatives to put NCAT in the spotlight is DAO creation. What kind of DAO governance will the team create? Can NCAT token holders submit proposals and participate in the governance of the project?
A: Yes. Currently, there is a 100B minimum for a DAO proposal. As the onset of this project was to leave the choices and execution up to the community, there is no ranking hierarchy higher than the voice of The Clowder through the DAO. This may be subject to change after feedback through the DAO itself. There is no upper limit on the number of proposals that can be made by a person. We have a 7-day voting period on any single proposal and are implementing a multi-sig community wallet for funding passed proposals. The governance itself is created within the DAO with a simple binary block & tackle system (‘Yes’ 👍 or ‘No’ 👎).
Once a proposal is successful, it is evaluated by the DEV to determine how to implement it. This may mean a specific task force being created within the community to bring that project to fruition as long as it is feasible. Funding a $2.5M for marketing is one of the examples you may find there with a heavy emphasis on a ‘No’. The DAO does not grant wishes, it voices dreams. We are happy to put in the work to make them become a reality.
Q: Could you share your marketing plans? Are you going to promote on platforms like YouTube, Instagram, or TikTok?
A: Absolutely! Influencer marketing and crypto video content is really the bread and butter of marketing. We have a growing administrative team with several platform-specific spearheads. Expect to see NCAT popping up on your favorite platforms:
🕸 Website
🚀Trade Here: you have to set slippage to 10–11% to facilitate tax or transactions will fail (4% to existing holders & 5% to liquidity generation)
📈 CHART
📃 Contract: 0x0cf011a946f23a03ceff92a4632d5f9288c6c70d
🐸 GECKO
🗑🔥CMC
Some of the more interesting aspects of our marketing initiatives have been the roads less traveled. During the first week, we were focused on spreading internationally. Our main Telegram group serves as a directory hub to an expanded network full of different languages and cultures. NCAT has been able to market in several languages all over the globe as a result of this international initiative.
It may be worth noting that we will not tear down other projects to elevate our own. We are trying to play nice with our neighbors. For instance, we have recently had a meme-contest with SNOWGE for prizes. We launch spontaneous Twitter raids. Alpha Capital is giving away a Lamborghini after May 6th, once crossing a $250m market cap. Check their Twitter for more info on that, as it is their giveaway :)
We have been going full-fledged into marketing, both traditional and unorthodox. Expect to see us around your favorite socials :)
Q: Your project is growing very fast. What are your plans for the future? What are you going to surprise your users with?
A: Well, it would not be much of a surprise if we told you now, would it? I believe that the NCAT Worlds multiplayer game will be huge. A completely different way of interacting with the economics of crypto and their communities. RL is our senior merch manager and he is amazing! We are not even live yet, and he is already shipping to our community members via manual administration. The DAO itself provides new and exciting surprises all the time. Every day is a new and exciting onset with NCAT :)
