##What is Noggles (NOGS)?
Noggles (NOGS) is a nounish coin created to push the boundaries of the ⌐◨-◨ meme.
Launched in 04/07/2023 and powered by Nouns Name Service (NNS) and in the future by other contributors, Noggles is an experimental attempt to create a nounish economy around the proliferation of the iconic ⌐◨-◨.
Differently from other meme coins, Noggles distribution doesn’t start from a liquidity pool, but from acts of proliferation made by users around the world.
Based on this vision, half of the NOGS supply is locked into a Social Staking contract that will mainly allocated to reward every NNS holder who uses their .⌐◨-◨ as Twitter name.
A small part of the Social Staking allocation will also include open initiatives of distribution launched on Twitter that will allow non holders to earn small amounts of $NOGS and join the community.
Noggles also relies on an ecosystem fund and a proliferation program that aims to bring projects, artists and builders into the nouniverse, rewarding ideas and stimulating coordination with other members of the ecosystem.
##How Many NOGS Are in Circulation?
NOGS has been launched in 04/07/2023 with a total supply of 69 billions of tokens. 1.69% of additional supply will be issued every year to support the project and the communities in its ecosystem. This yearly inflation is expected to be completely decentralized and incorporated into the Ecosystem Fund.
The circulation supply is managed by 4 different contracts:
- NNS Team and Contributors: 10% (1.38B locked for 12 months, then 225,500,000 unlocked per month for 24 months)
- Social Staking: 50% (gradually unlocked by users through Social Staking)
- Proliferation Program: 10% (287,500,000 per month for 24 months)
- Liquidity Pool: 10% (activated after the first 3 months)
- Ecosystem Fund: 20% (2.76B after 4 months, then 225,000,000 per month for 48 months)
One thing to be noted:
The initial distribution will start from the Social Staking contract, but holders won't officially appear as such into the Explorer until their staked NOGS have been withdrawn from the Social Staking contract into their wallets.
##Who created Noggles (NOGS)?
Noggles is a coin created by Nouns Name Service (NNS). Launched to the public in October 2022, NNS allows users to create their onchain nounish identity through the .⌐◨-◨ domain.
At the end of November 2022, NNS was backed and supported by NounsDAO to push its expansion in and outside the nouniverse. With more than 650 holders and more than 1.5k names registered, NNS is the first project to integrate NOGS into its infrastructure, with the goal to be just one of many other future contributors.
The vision for the Proliferation Program, combined with the Ecosystem Fund, is the creation of a decentralized and collective building around Noggles that is able to truly empower individuals and communities in the long term.
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