# Idol NFTs ### The NFTs The Idols is a collection of 10,000 generative portraits living on the Ethereum blockchain. Each Idol is unique and is generated from over a hundred hand-drawn assets. Some Idols will have features that are rarer than others, however, since all Idols will have an equal claim on the income generated from the Idol Treasury, all Idols will have an identical intrinsic value.
### The Offering The Offering represents the genesis event for the Idol NFTs. During this event 10,000 Idol NFTs will be created and given to users who contribute to the *Idol Treasury*. 100% of the ETH raised through The Offering will be converted into stETH and deposited into the Idol Treasury. As 100% of the ETH raised from the event is going back to the community, the founding team is reserving 10% (1,000 Idol NFTs) for the team and early advisors. Idol NFTs dedicated for team members and advisors will have a 1 year no-sale lock. ### Idol Treasury The Idol Treasury is a monotonically increasing treasury comprised of [LIDO's](https://lido.fi) stETH. stETH enters the treasury in one of only two ways: 1. Through The Offering 2. Through the Virtue Bonding Curve (see [$VIRTUE Token](/usdvirtue-token.md)) It is important to note that the "principal" amount of stETH can never be withdrawn from the Idol Treasury, only the staking rewards that are earned. This ensures that Idol NFTs will always have "intrinsic" value as they will have a proportional share of the staking rewards in perpetuity. ### stETH Rewards 99%\* of stETH income from the Idol Treasury is paid to and split equally amongst every Idol NFT. Rewards will be claimable as they are accrued via the contract. \*1% of stETH rewards is paid to the caller of a keeper function which updates the protocol after a stETH rebase. This 'caller reward' may reduce over time. ### Commissions Idol NFTs have a 7.5% commission that is due on *all* secondary sales. 100% of this commission is paid back to the community (to $VIRTUE stakers). $VIRTUE stakers are important members of the ecosystem since post The Offering, the only way the Idol Treasury can increase its holdings is from the Virtue Bonding Curve. ### Smart Contract Whitelist Idol NFTs have a smart contract whitelist. This means that a smart contract has to be on an approved whitelist before it can be approved for or hold custody of an Idol NFT. Initially this whitelist will be managed by the founding team, but this responsibility will eventually pass down to the [DAO](/usdvirtue-token.md#dao). ### Idolverse The Idols NFT is the first project of many that are planned in the upcoming *Idolverse*. Each new project in the Idolverse will provide further utility for the Idol NFTs and the $VIRTUE token. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.theidols.io/idol-nfts.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.