@b0rder1ess

SKYCASTLE: Incubator for the Base ecosystem Today, I want to talk about SKYCASTLE — a project that the Farcaster and Base ecosystems really needed. They have become a Web3 “producer” for other projects, offering not only support but also real value that helps the entire ecosystem grow. SKYCASTLE (@skycastle) is an incubator for Web3 projects, consisting of two founders (@itsbasil, @garrett) and about 30 partners. Among the advisors are specialists in design, AI, and development, such as @j4ck.eth, @dish, and @tldr. The incubator helps projects with everything from tokenomics and design to product development. In return, projects give 5% of their total supply of tokens to the Skycastle treasury, which are locked for 6 months. SKY tokenomics: • Partner Seats (30) — 30% (6-mo cliff, 18-mo vest) • Council Seats (64) — 10% (6-mo cliff, 6-mo vest) • Team (2) — 20% (6-mo cliff, 30-mo vest) • Incentives — 30% (5% day one, 24-mo vest) • LP — 10% — Currently, only 10% is in circulation, i.e., market capitalization ≈ $1.3 million. Partner Seats are 30 people who contributed 1 ETH each and received 1% of the supply, Council Seats are 64 participants who will later contribute 0.25 ETH each for 0.15625% of the supply. Both categories are eligible for bonuses for supporting incubated projects, which helps to create real and honest support for projects. Treasury and NAV Mechanics This is the most interesting component of the project, as it creates a flywheel for attracting people and projects. When the value of assets in the treasury exceeds the FDV of $SKY, token buybacks and burns are triggered. The treasury holds locked $SKY, $ETH, and tokens from incubated projects (5% of each supply). This creates a flywheel: "New projects bring in 5% → increase the treasury → raise the “support level” of $SKY → increase trust → new incubation applications come in" AND IT'S ALL A CIRCLE - CREATING A FLYWHEEL To date, Skycastle has entered into three partnerships, from which it has already received over $50,000 in tokens (+ 5% of the supply of @dendotshow in the future), and the total treasury is $1.23 million • Treasury contract: 0xf85b95dec02cef1d7a7cb36680bab392e455bddd — In conclusion, I can say that the base ecosystem really needed a project like this, one that could help thousands of people develop their projects. I really liked how they created a flywheel mechanism that encourages both new people to buy $SKY tokens and new projects that want to get into the incubator

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