Finances & Tokenomics

Lizard DAO

Initial funding of Lizard DAO will be raised through Pre-Seed and Seed Funding rounds based on issuance of LizCoin ($LIZ). The total $LIZ token supply will be 100M max supply. Details for the token allocation and vesting are as follows:


The Pre-Seed token sale aims to fund rapid growth for Lizard DAO, enabling the addition of top industry talent to the team. A total of 10M $LIZ at $0.05 USD each will be offered during the Pre-Seed round. An allocation of 3M Liz ($150K) was made available to Ethlizards holders in May 2023 via a decentralized Aelin pool with caps of $200/Genesis NFT and $100/Venture Ethlizards. The remainder of the allocation was for advisors and strategic partners of the DAO.


The Seed token sale will support new hires, mid-term product acquisition and development, and partnership realization. A total of 25M $LIZ will be offered for the seed round. Existing Genesis and Venture Ethlizards holders were able to participate in December 2023 via the basedVC protocol at $5,000/Genesis and $2,500/Venture NFT. The Seed round is expected to close in early 2024.


A public sale to allow both market price discovery and liquidity is planned. More details will be forthcoming when the methodology is finalized.

Existing Holder Airdrop

In appreciation of the existing community's foundational role in the Ethlizards expansion, current holders are eligible for an airdrop of additional $LIZ tokens. Allocations will be distributed per NFT: 3,000 $LIZ for each Genesis and 1,500 $LIZ for each Venture. This gesture recognizes and rewards the contributions of the early supporters who have helped shape the DAO's growth and success.

Why Token?

Yield Rewards

Active Participation and Staking

  • Members can participate in yield farming by actively participating in the DAO's ecosystem to earn Loyalty Points and staking $LIZ tokens. Team, Pre-Seed and Seed round tokens are ineligible for yield farming until unlocked.

Stack up Yield Share Rewards

  • Staking $LIZ in the same wallet with a staked Ethlizards Genesis, Venture, or Champion NFT allows for increased yield farming rewards up to a specified cap. The caps are as follows:

    • Genesis & Champion - 3,000 $LIZ

    • Venture - 1,500 $LIZ

  • Staking $LIZ in a wallet with select partner NFTs grants moderately higher yield farming rewards, up to a cap of 1,000 $LIZ. This results in a variable APY structure that might look like this:

    • Genesis staked NFT: Stake 3,000 $LIZ @ 100% APY

    • Venture staked NFT: Stake 1,500 $LIZ @ 100% APY

    • Partner NFT soft-staked: Stake 1,000 $LIZ @ 65% APY

    • Non-NFT wallets: Stake unlimited amounts @ 50% APY

NOTE: APY percentages are for illustration purposes only.

Three Years of Yield

  • $LIZ can be staked for yield farming rewards during the first three years after issuance. The distribution amount will decrease over time, with roughly 5.5% of rewards in year 1, 4% in year 2, and 3% in year 3.

Revenue Rewards

Starting in 2026, the DAO Revenue Rewards Program will be introduced to incentivize active involvement in the project's growth and development. With the end of yield farming, this program aims to share revenue from the protocol with members who 1) Stake $LIZ and 2) Actively participate in the DAO's ecosystem to earn loyalty points.

Revenue Sources

The following revenue streams will be utilized to fund future operational development by Lizard DAO for the ecosystem:

  • Gaming Revenue (such as Battle in the Beyond platform fees and Reptile Rush purchases)

  • IP Sharing Revenue

  • Secondary sales of NFTs (such as Elemental Lizards, in-game tickets, and more) used for gamification across the community and partnership pillars

  • Lizard Shop Sales - Primary sales of utility/gaming NFTs, speed-ups, merchandise, etc.

  • Partnership fees for the Web3 Gaming Alliance

  • More to come...

Participate to Earn Loyalty Points for $LIZ Rewards

Both Yield Rewards and Revenue Rewards require the user to participate to earn Loyalty Points and stake $LIZ. Qualifying activities for Loyalty Points may include:

  • Voting in DAO governance

  • Promoting social media channels

  • Creating Content (YouTube, Twitter, TikTok, Twitch, Podcast, etc.)

  • QA testing for new products

  • Participating in Bug Bounty quests

  • Crafting Memes

  • Submitting detailed project analyses and reports

  • Engaging in Ethlizards and partner gameplay

  • Engaging in esports tournaments representing the Lizards

  • Translating communications into different languages

  • Validating the participation activities of others

  • Discord moderation

  • Lizard Contributor roles like liaisons and librarians

  • Core Contributor roles

  • Other governance and ecosystem activities

Portfolio Sub-DAO Treasury (Current)

Here is the present organization of the Portfolio sub-DAO's treasury management:

The Portfolio sub-DAO obtains funds from royalties earned on the secondary market from the Genesis and V2 Ethlizards’ collections. Team receives 15% of royalties. Of the remaining revenue, 42.5% of treasury funds are allocated for development and product services for the DAO.

The final 42.5% is earmarked to support early stage GameFi projects. The allocation of these funds is the responsibility of the Portfolio Council to deploy to high-quality projects in the sector.

When any of these funds are liquidated, the current distribution of funds is as follows:

  • 1% to each of 5 investment council members that made the initial funding decision

  • 15% to core team

  • 40% directly to staked Genesis and V2 holders who have participated in the Ethlizards ecosystem and DAO governance

  • 40% to treasury for more early-stage portfolio positions

Portfolio Sub-DAO Transition

The proposed future structure for the Portfolio Sub-DAO's treasury management is setup to have a safety pool for the Lizard DAO and additionally removes operational cost burden from the Portfolio Sub-DAO.

Safety Pool

  • The Portfolio Sub-DAO will continue its current support of approximately $20k/mo to Lizard DAO following the approval of this white paper. This funding will flow into a 'safety pool' and can be spent to support DAO and development operations and overhead including ongoing Portfolio Sub-DAO upgrades, Lizard contributor support, technical development, marketing, Discord, partnership coordination, communications, security, legal and regulatory compliance DAO administration, etc. This helps to ensure the DAO has sufficient runway in the case of unexpected costs, seed round delay or similar events.

Portfolio Sub-DAO has operation costs removed

  • From 2024 or successful closure of 100% of seed round, Lizard DAO will take on the three shared sub-DAOs' operational costs using revenue from LizCoin capital raises and other sources. At that time, all Ethlizards Genesis V1 and V2 royalties and earnings from fund liquidations would be allocated in alignment according to the current distribution process shown in the previous section. Lizard DAO can adjudicate any shared responsibilities between each party. Responsibility breakdown is as follows:

    • The Lizard DAO will cover DAO, sub-DAO and Lizard Labs operational costs.

    • The Portfolio Sub-DAO can optionally use funds from its treasury for upgrades and expansion (costs beyond the three shared sub-DAOs' scope) including Portfolio Council administration support, analyst, tools and infrastructure improvements.

    • Lizard Labs will provide the core contributor support to execute upgrades.

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