❓Frequently Asked Questions

What date will the BearMarket Degens be minted? What XRPL marketplace?

The collection will officially launch on the earlier of [30 Apr 2023] and [Ripple's successful settlement/victory over the SEC]!

The collection will be minted on onXRP or XMART (subject to community input). You’ll be able to randomly mint an NFT by exchanging 1 DEGEN token.

The NFT marketplaces built on the XRPL will allow you to mint and transact with gas fees of approximately $0.0001.

How can I buy a DEGEN token?

DEGEN tokens go on sale on 24 Dec-22 for a bear market friendly price of 21 XRP! This project recognises that the crypto-market is temporarily experiencing negative investor sentiment. Our mint price will ensure we experience member growth during this period of global economic downturn.

How can I receive the airdrop?

1,000 tokens have been allocated to airdrop to the broader XRPL community! To be eligible to participate in the airdrop, you are required to i) follow us on Twitter and ii) be Global ID verified. Beginning on 29 Jan-23, 100 tokens will be airdropped each month.

Will the BearMarket Degens offer utility?

The BearMarket Degens community has been established as a space where fellow investors and traders can come together to support each other during periods of economic turmoil and market volatility. NFT holders will gain access to exclusive channels containing research and analysis, including macro economic updates, trading strategies and cryptocurrency/NFT investment recommendations. Refer to the utility section of the White Paper for further use cases.

Why are you choosing to mint on the XRP Ledger?

The XRP Ledger offers fast and cheap transactions (<$0.0001/tx), validated in 3 to 5 seconds and is environmentally friendly as it doesn’t rely on a mining consensus. The XRPL is also scalable and can handle 1,500 simultaneous transactions. We’ve chosen to mint on the XRPL as its fundamentals align with our bear market ‘no frills’ and ‘under dog’ ethos. If you choose to purchase a DEGEN, you’ll be able to mint or transact an NFT with $0.0001 gas fees and instant transaction settlement.

How can I get involved in the community?

Stay active in the Discord and follow the Twitter page! Being an active community member will increase your chances of scoring a free NFT!