EDIT: Created a light-weight DeLabs vs Yuga Dashboard.
DUST is the utility token for DeGods and y00ts. If you haven’t already, read through the DeGods x y00ts deep dive.
At the time of writing this, DUST has been bouncing between $0.33 and $0.45, or a $10M - $15M fully diluted market cap.
$DUST has a max supply of 33.3 million tokens, 32 million of which have already been distributed to DeGods owners via staking. The remaining 1.3 million tokens will be fully distributed to DeGods holders via staking emissions over the next ~40 days (by mid to late February).
$DUST has been used to give DeGods utility through staking, was required to upgrade DeGods to DeadGods, and required to mint t00bs.
$DUST has also been used for raffles & merch.
As of this moment in time, there is very little, if any, utility for $DUST, and the low token price reflects it.
It is expected that the DeGods team will announce some sort of utility for DUST at some point in January as part of their Season 3 roadmap.
Whatever this utility is, it will be more utility than the current utility (which is almost none).
A launchpad program has already been announced, which will likely serve as a platform to jump start the Polygon NFT ecosystem.
There is some speculation that $DUST could be integrated into minting fees on the launchpad.
Inflation to Zero
Dust emissions end in mid February, meaning $DUST will go from an annual inflation rate of ~35% to 0 all at once. While many DeGods stake do not harvest and sell their rewards, many do so on a daily or weekly basis.
Exchange Listing (?)
With a market cap of only $15M at the time of writing this, $DUST has low liquidity, the majority of which is on Orca, a decentralized exchange (like Uniswap) on Solana.
There is virtually zero liquidity elsewhere.
Any real exchange listings will require liquidity, which means there will need to be large purchases of $DUST (possibly OTC deals), which may push the price up.
As DeGods and y00ts migrate to Ethereum and Polygon, it is expect that $DUST will migrate in some manner as well (perhaps a bridge).
Orca is a rather niche exchange that few people outside of the Solana ecosystem transact on.
If $DUST gets listed on a major exchange or Ethereum DEX, demand should increase significantly.
BAYC Comp Analysis:
Apecoin trades at a 2.41x multiple (fully diluted) compared to the total market cap of Yuga NFT assets. DUST is trading at 15% of the fully diluted cap of DeGods + y00ts (DeLabs) NFT assets. Insanely undervalued in relation to the NFT assets.
Assuming a 2.41x multiple vs NFT assets puts DUST at $6.69. Assuming a 2.41x multiple and a 2x of DeLabs NFTs market cap, $13.37.
Accumulate $DUST prior to the DeGods/y00ts Season 3 roadmap announcement. Take profits into any short-term spikes following the announcement or consider holding into any exchange listings announcements down the line.
Edit: Updated DUST/APE comp after $DUST pumped to $0.91: