SHILL Issue 48

#SHILL 

SOLANA NFT/DEFI/TWITTER ECOSYSTEM 

CHEST Explained 

CHEST Explained 

final 2 whitepapers that 

uncover utility and future 

REflection 

how to cope with fud 

shill or pump 

you make the decision 

ISSUE #48 

0.1 ◎ 

lucid screens 

uncover the mystery

THIS 

In 

ISSUE 

48

4 

FROM 

6 

10 

26 

42 

44 

60 

FROM THE EDITOR 

So much to write. So little 

space. 

CHEST Whitepaper 

3 of 4 MUST READ whitepaper 

#alpha 

CHEST Whitepaper 

4 of 4 whitepaper complete 

#alpha 

REFLECTION 

Papamoomoo explains the FUD 

you’re feeling 

ALL BLUE 

Stoned Ape Crew are 

innovating, what’s the deal? 

#alpha 

SHILL or PUMP 

SolGuava lays his cards on the 

table #alpha 

LUCID screens 

ArteOvni uncovers their project 

that continues to deliver the 

goods #alpha 

archmorley

the 

from 

EDITOR 

#Shill is nearing its 50th issue. Got an idea for how #Shill should 

celebrate? Let’s hear it: pixeltoy.sol@gmail.com 

Riddle me this. A Twitter account for a HYPED project has over 3k 

followers. Their DISCORD has over 4k members. They are minting 

an 1111 project under 0.5Sol. Sounds like quite a few projects, right? 

They DON’T mint out, only 5 people on Discord are verified as holding 

an NFT and the Twitter following doesn’t say BOO! 

Yes, I thought so. 

The more that shit flings around the fan the happier I am that I focus 

more on the 1 of 1 on Holaplex, Exchange and Fornication. 

Don’t get me wrong. There are 1 of 1 artists who go M.I.A. @Pixeltoy 

has been documenting Solana NFT well before #Shill became a 

reality. In this issue I have added a few of the covers I created back 

in Sept 2021. Some of those artists are still around. The “Plex+” 

covers were posted to Twitter a couple of times per week. Just over 

35 covers created. Where are they now? 

I know I have MORE rugged NFT in my collection than genuine 

keepers. It’s those genuine gems that keep us hanging in there 

determined to support the community. 

#Shill seems to have plateaued in readership. Hovering around 

7500-8500 views per week since February 2022 (since Solana fell 

below $100 usd). Maybe it’s time to slow down and release 1 zine 

per week? Limit it to 64pages max. Thoughts? 

As always, show your love on the Twittersphere with a simple retweet. 

Enough said. You know the drill. Let’s f go! 

Pixeltoy 

4 

SHILL Issue #48

GRAPE EVENTS 

https://vimeo.com/manage/videos/688791798 

SHILL Issue #48 5

DeFi Sea Council, DAO & Vesting 

In parts 1 and 2, we’ve gone over Utility, Gameplay and the $Chest 

token covering all the basics you need to know before jumping into the 

Treasure Island. In part three, we’re covering Governance, the DeFi Sea 

Council & Token Vesting. These components allow the community to 

actively contribute and direct the growth of the protocol and Treasure 

Island universe. 

DeFi Sea Council (DSC) 

The DeFi Sea Council (DSC) is the governance DAO forum where 

Pirates and Players will cast their votes to enact changes and reform 

policies. These policies can have important effects on the Treasure 

Island world, from forestry expansion plans that affect $WOOD supply, 

ship building policies that can decrease ship building cost, to treasury 

management and tax policies. 

$CHEST token holders will be able to vote directly on future game 

development, treasury management, and much more. From the very 

early days of Chest Finance, community ownership has been at the core 

protocol focus. That’s why, the protocol has sold a total of 0 tokens to 

6 


VCs, and have actively avoided private rounds. 

One of the first few legislative agenda points will include: 

•Starting tokenomic distribution (see $CHEST Token 

& Basic Game Features) — This will determine the 

starting tokenomic distribution model based on 4 

different distribution options. 

•Minimum requirements to propose new policies. 

•Quorum threshold for voting on policies. 

•Voting threshold for a policy to be passed. 

However, community ownership is no easy feat. To achieve true 

community-based autonomy, distinctions need to be made between short 

and long term holders. This is attained through different incentives and 

rewards distributed to active DAO contributors and participants. These 

incentives will include token vesting (similar to curve’s vested locking), 

and other forms of juicy governance incentives. These features will be 

officially rolled out following a successful governance proposal. 


Governance Incentives 

Sustainable governance requires sustainable incentivization and 

participation from the most active stakeholders. To that end, governance 

incentives can be activated through a DSC vote. 

In its most basic form, governance incentives will enable token holders 

to lock their tokens for $veCHEST, which symbolizes their commitment 

to the governance of the protocol. In exchange for their longer term 

commitment, they are rewarded with $veCHEST rewards such as vote 

participation rewards, vesting bonuses & more(specifics determined 

through governance vote).(specifics determined through governance 

vote). 

Additional governance mechanisms include governance delegation, 

which effectively allows representative groups to form within the 

Treasure Island community: passive users can delegate their voting 

power to representatives who can vote and lobby on their behalf. This 

is also a feature that will require DSC approval. 

… a look into the vision of Treasure Island governance 

One of the biggest pain points of DAOs, is that it often tries to satisfy 

too many people, which always leaves certain groups excluded or on the 

short end of the stick. 

As Treasure Island expands into a metaverse where users can own their 

own Islands and lands, each Island will be able to have its own microgovernance. 

In a way, each user’s own island will become sovereign states 

within the bigger Treasure Island universe, with the DSC maintaining 

8 


oversight over the larger protocol. This allows for efficient grouping, 

clan building, and empowers everyone. 

… but the first step is to BUIDL the DSC. 

Pirate Clans 

A pirate is nothing without their crew. In a world filled with treasure, it’s 

important to find a team that you can trust. 

Your teammates are there to help you find 

loot during quests, protect you from other 

pirate raids, and provide your pirate with 

additional experience. 

It is however important to remember that 

not all pirates are honorable, some may 

challenge your leadership, attempt to steal 

your loot, or even worse, cause a mutiny. To 

aid your crew during a hard times you can 

also hire mercenaries or bounty hunters at the tavern. But again, you 

have been warned, be careful who you trust. 

Clan alliances can also provide you with special group missions and pvp 

sea battles (Coming in the future..) 

$CHEST IDO & Token Allocation 

$Chest token IDO will take place a week after the Game release in 

the end of March/beginning of April. The IDO will be a mango style 

public IDO. We believe this provides as many people in the community 

to buy in as possible, and is the fairest method of community token 

distribution. 

Upon IDO and token genesis, token vesting for Pirate NFT holders & 

Early Chest Finance protocol stakers will also begin. In fact, 12% of the 

$Chest token supply for both NFT holders and early stakers will begin 

to be linearly vested to holders over the next year. The percentages of 

further allocation to other parties will be subject to a DSC DAO vote 

on the Treasure Island. 


Development & Treasure Island World Roadmap 

As we’ve covered across the previous three articles, Treasure Island is 

set to become the biggest GameFi platform on Solana. Our vision is 

to create an open world allowing users to use borrow-lending pools, 

trade tokens, yield farms all while exploring and playing on the Treasure 

Island and using $CHEST as its native currency. 

Indeed, in the image of open-world games, we want to incentivize active 

participation and user-based contribution while making sure that you’re 

rewarded for the time you spend learning, playing, and strategizing. One 

of our goals is to allow players to not only enjoy $CHEST curated 

products but also allow them to create their narratives through things 

such as clans, alliances & strategic farming partnerships & more. 

Through governance and DSC, each DeFi Pirate NFT & $CHEST 

token owner becomes not only a player but a part-owner of the protocol 

and hence, can vote and determine the future course of the game. To 

encourage community ownership, long-term holders are rewarded 

additional tokens through things such as lock-up periods, $veCHEST 

vesting, governance incentives, and voting rewards. Thus, by aligning 

10 


themselves with the protocol, its shareholders and the protocol are 

synergistically benefited. 

On top of the Roadmap, the next upcoming weeks for the Treasure 

Island and $CHEST. Here are the next developments that our members 

will see implemented. 

A general roadmap can be found below which outlines our global vision 

and future development phases. It is important to keep in mind that, due 

to the Treasure Island project’s public ownership model, the roadmap 

can be adjusted and molded by the community as they propose ideas, 

vote on implementations and development. 

These are estimated ETAs, the precise date will be unveiled before each 

release 

•Gen 1 Unveil & Gen 1 Pirate auctions — March (Announcement next 

week) 

These include Three 1/1 DeFi Pirates with an additional Treasure 

Island Bonus & Unique Cosmetic Attributes. All proceedings from the 

auctions will be as Prizes for community events & contests. 

•Treasure Island world Trailer & Game Release Date— March 

This is a huge step before the release of the game, as it will display most 

of the available features. Furthermore, the official date of the Game 

release will be teased in the trailer which will kick start the Game Alpha 

reveal for holders. 

•Game Release & IDO — Beginning of April 

Once the official has been announced in the trailer, we will begin the 

process of gradually giving access to holders to the treasure Island as 

the ship can’t carry all the pirates at once. The unlisted pirates will be 

invited on board the next ship and sent to Treasure Island. 

A few days after the Game release, we will unveil our official IDO date, 

as pirates get their first experience of Treasure Island. Our Mango-style 

initial DEX offering will further expand $Chest utility and Treasure 


Island potential. This date is also important as it will put a start to token 

distribution to early stakers in Chest Finance protocol and Defi Pirates 

NFT holders. 

•First updates & Token Integration — April 

To increase the range of products available on Chest Finance, our 

team will be rolling out new utilities and integrations on a weekly basis. 

Upgrades will include Treasure Island map animations, new buildings 

with utility, characters, cosmetics & much more. Furthermore, as the 

token is integrated $CHEST will become available on the Treasure Island 

DEX, allowing to further buy and trade loot based on the secondary 

token prices: $pGOLD, $pSILVER, $pWOOD. Its integration within 

the game will further allow users to use $CHEST for transaction fees, 

as a burning mechanism for the game. 

•Governance & Development Phases — April on forwards 

$CHEST token however is not only important within the game, but it 

also is on the outside. Once the primary utility is released, and more 

& more updates are integrated within the game, the more opportunity 

and power will have the DeFi Sea Council (DSC) will have in the 

determination of the next updates, releases, and integrations. The 

official $CHEST DAO will be picking the direction of the game and 

voting on the details of each development phase. 

12 


Phase I — Community (in progress) 

Before we set sail to Treasure Island, we will focus on expanding the 

community, documentation, and excitement around the project. This 

includes curating Discord, expanding the DeFi Sea Council(DSC), 

giveaways, community events, and website upgrades. 

Phase II — Pirate NFTs and $CHEST (in progress) 

Pirate NFTs and $CHEST play a pivotal role in the development of 

Treasure Island. Funds generated from the NFT sales and IDO will go 

towards providing liquidity to the Treasure Island metaworld, seeding 

development efforts, and establishing the DeFi Sea Council (DSC). 

This phase also includes the long-awaited reveal of Gen 1 Pirates and 

the hidden rank reveal. 

Phase III — Treasure Island Core Components & Pre-IDO 

Staking 

Release of the main Treasure Island map, with a functional interface for 

yield-generating chests, NFT Marketplace, DEX integration, LP staking, 

and yield farming. It will also contain a basic loot system allowing pre- 

IDO staking and item marketplace trades and listings. 

Phase IV — Token Integration & Pirate Quests 

After the IDO, the game will finally receive its full potential as Pirate 

NFTs will be usable for various in-game functionalities and quests, 

including but not limited to, earning additional yield, accumulating stats, 

battles/ raids(phase VI). 

Phase V — Sea Exploration, Ships, and Land conquering 

Lookout for rare treasure-bearing land, which they can either loot for 

treasures, or settle down and develop as real estate. The Real Estate 

agency will also open for users to buy, sell and trade islands. 

The Shipyard will also open, where they can buy, sell, upgrade and 

trade their ships. Each ship will also have its stats, and allow players to 

accomplish unique quests. Owning your own vessel also allows you to 

battle and raid other ships. 


Phase VI — PVE 

Users will need to fight off other pirates, protect their home islands, 

build shelter, repair their ships, and more. Users will be able to investigate 

dangerous caves, explore dangerous lands, and fight off hostile enemies. 

Phase VII — PVP and Confederations 

Users will be able to engage in battles with other players, for the chance 

to earn additional loot and yield. Groups of people will also be able 

to form confederations to pool their resources together and become 

stronger in the meta world. 

In the pursuit of a legendary Island filled with an unimaginable amount 

of gold and silver that could last 100 lifetimes, a violent storm caught 

a crew of one of the bravest pirates alive at the open sea. While trying 

to combat the storm and survive the heavy waves, an unexpected beam 

of light sprung from across the waters, revealing a mysterious desolate 

Island not far away. The crew had no choice but to dock on the Island to 

avoid succumbing to the unforgivable Sea. However, while making their 

way to the Isle, the waves grew in size and the violent rain dropped on 

the ships making any attempt to effortlessly arrive on the shore futile. 

After hours of struggle and damaging the ships, throwing a dozen 

pirates overboard, and pushing numerous chests filled with gold off the 

ships, the Pirate fleet finally arrived on the stray island. 

The proceeding morning, the crew realized that significant repairs 

needed to be made before it was possible to resume the search for 

the legendary Island. However, it also became clear that their current 

place of stay wasn’t safe as the first scouting party sent to explore the 

Isle disappeared without a trace. For the time being, while the Isle is 

being explored and to accommodate their stay, a camp has been built 

with a Market, Tavern, a lending shop as well as multiple other shacks 

and buildings. Thus, as they await their departure, Pirates continue 

discovering mysteries of the Lost Isle and prepare for their next voyage. 

14 


MonsterzDao

NikeetaLakhiani

NumbOneT_T

RedRabbitCult & SQVTCH

@Papa_MooMoo 

So the markets are a bit MEH and volume is a LOT lower than it was 

even 3 weeks ago. I’m seeing some 1/1 artists starting to question 

themselves: Why are my pieces going for less than just a few auctions 

ago? What am I doing wrong? Why is this happening? 

I think right now, as an artist, it’s important to step back and look at 

the market. A few weeks ago, there was a small period of MASSIVE 

FOMO in the 1/1 market. Pieces were going for 3 - 4x higher than 

normal for some collections. 

It seemed like a wave of new buyers came in hoping to catch lightning 

in a bottle. That period lasted a VERY short time. Like a giant taking 

a breath - the markets inhale, but then they must EXHALE. I think it’s 

clear we are in an exhale. 

Chances are you are NOT the problem - the markets just got a bit too 

excited. With that said, these periods of the markets EXHALING are 

a good time to step back and re-evaluate: - What’s my goal for this 

series/collection? - Am I taking risks and innovating? 

If I released this piece on a site like @exchgART, and a collector sorted 

by “ending soon,” would this piece catch their eye (or even you own 

eye) and possibly make them stop to go check it out? 

It can be tempting to stop releasing your work during these times for 

fear of seeing your pieces go for much lower. For fear of rejection. For 

fear of failure. For fear... Fuck the fear - we are still so early, and the 

market will without a doubt have more inhales and exhales. 

Regardless, we must continue to create, innovate, and take risks. 

Personally, I like these small shakeups because they make me wake 

up a little. It’s like a forced pivot. - Was I on autopilot? - Following a 

formula that I thought made sense? 

View this as an opportunity to deepen your reflection. And give yourself 

permission to keep taking risks, creating, and innovating. We are still 

early & the markets will continue taking deep breaths. Just like the 

markets - let’s take a deep breath and keep moving forward. 

26 


Keezerfeld

tsunami031

LIGHTS_nft

PROBABLY 

NOTHING 

@joemccann 48.1K Followers 

A non-trivial number of very 

early @nodejs devs (think 

v0.1.x) have hit me up over 

the past few months are all 

building on 

@solana. 

What happened with @nodejs 

with these early devs? 

It led to 100% of the 

Fortune 500 adopting it. 

30 


PURPLEanalysis 

@Purpleanalysis 


the ASTRONAUT 

The Astronaut @thexastronaut 

32 


SpectrumHacker

maxwelladamsart

grapeprotoco 

BARNDOG 

STEP-N 5 min tip 

https://vimeo.com/manage/videos/689921550 

METAVERSE 

Best APP on Solana 

https://www.youtube.com/watch?v=Th6rj4WnNuc 

36 


OVER 5Sol & TOP NFT 

SolsWatch 


NikeetaLakhiani

archmorley

tsunami031

RedRabbitCult & NonDigitalSoul

@StonedApeCrew 

All Blue will be a next-level launchpad + incubator combining 

quality information & social features to make minting safer, easier 

& most importantly, fun again. It’ll be THE platform to discover the 

best upcoming projects on #solana together w/ your frens. Here 

is why 

Best products always start with the problem in mind! 

For minting we identified those: - Lack of info & trust due to rugs - 

Manual process of whitelisting - Botting - Hard to spot good ones 

To solve those, here is what will come in the next weeks + a little 

bit of magic 

Lack of info & trust 

Finding info for a project is a tedious process, often the best 

information is hidden somewhere in Discord. This often leads to 

confusion & FUD. We’ll provide first-class information on the mint 

page about art, team, roadmap, expert opinions & assets. 

Launches on ALL will be split into different categories - Permissioned, 

Unpermissioned & Free mints All come with different security 

levels & different warnings on the page. Permissioned launches 

will be audited by the team. For others, info will be provided by 

partners. 

For your profile, you’ll also be able to specify your own burner wallet, 

which enables you to mint with it, to get additional security. As a 

base security measurement, we’ll make sure to audit the candy 

machine + art, so it matches what has been shown on Twitter. 

No 2 problem is the manual process of whitelisting — There will be 

an automated way of whitelisting on our platform. Oh and about 

42 


whitelist tokens - not needed anymore, as this is anyway often just 

dragging liquidity from the secondary market. Stay tuned 

Botting — We are currently working on avoiding botting for public 

mints through captcha verification & other optimizations, which 

will be added over time. 

A little bit of magic - making it personal & social. You’ll be able to 

have usernames, connect with your frens, mark mints as favorites, 

give your opinion and see what others think. Also, mint votes 

will show a general sentiment, maybe coming with additional 

gamification 

Benefitting the $ALL & $PUFF ecosystem #1 — Yes, you’ll be 

able to mint projects in $ALL & $PUFF To give an incentive for the 

projects, we’ll give discounts for reserving NFTs to be minted in 

$ALL & $PUFF. Oh, and there is more ... 

Benefitting the $ALL & $PUFF ecosystem #2 — 15% of all the 

profits will be used to buy back $PUFF. 20% for $ALL. It’ll be split 

into straight buybacks, stabilizing orders & adding general liquidity 

About incubating 

As you know, ALL BLUE will incubate the best of the best kick-ass 

projects out there. The high-class projects will be able to earn $ALL 

and it will be used in their ecosystem, so every project will benefit 

from all of those different use-cases. $ALL will be an experiment 

trying to bring certain projects in our incubator together while 

adding back value to Stoned & Nuked Apes. 

Here are some dope use-cases coming next week 

The first use cases are around the corner. 

1. $ALL can be used to purchase raffle tickets in our NFT Raffles 

with over 420 SOL in prizes. 

2. In the green list mint of @MaryJaneNFTs, .11 of SOL needs to be 

paid in $ALL. This will add additional value to SAC, NAC & BestBuds. 

For launching, we’ll take 10% of mint + 10% of royalties regularly 

- discounts for making mints available in $PUFF & $ALL. The 

incubator price will vary based on the project’s own objectives & 

deliverables as well as the services required. More on the services 

this weekend. 

In general, the launchpad will combine social graphs, valuable 

information for users & gamification. $ALL of that will help us 

add value back to the SAC & ALL Blue ecosystem setting a new 

standard for #SolanaNFTs 


@SolGuava 

SHILL 

or 

PUMP? 

The Blue Chip Hunters don’t have to wait any longer... Crying cause 

you missed out on 

@CetsOnCreck? Time to shape up. I present you: @chestfinance 

Now, why would I ever shill something on a pump? Better read this 

thread. 

I get it, you’re probably sitting there asking why in my right mind 

would I shill you these during a pump? With their new whitepaper 

and insane team behind @chestfinance, I truly believe these guys 

are going to be one of the next projects to break a 10 SOL floor. 

Don’t believe me? 

44 


Maybe the fact that @SOLBigBrain bought 24 Defi Pirates earlier 

today will convince you differently. That’s 168 SOL ladies and gents. 

Regardless, let’s look into why I think these can easily break 10 SOL. 

Point 1: They’ve managed to hold a floor price of 5 SOL since 


January while still being extremely early in their roadmap 

Point 2: Their devs are constantly building to innovate DeFi Pirates. 

The other day they released sneak peeks for their Gen 1 collection 

+ version 2 of their whitepaper, this screams bullish to me. I always 

46 


say to bet on projects with good teams behind them, I trust this 

team. 

Point 3: This whitepaper’s damn good. Whether it’s sending your 

pirates on a treasure quest or their p2e game improvements or the 

announcement of future multiplayer integration or the creation of 

their NFT marketplace, this resembles bullish. Notice how many 

or’s I said. 

Point 4: This project is massively undervalued. If the team actually 

implements everything they say they are working on, this project 

is bound to moon. It’s easier said than done, but my full confidence 

truly resides with this team at @chestfinance. 

Point 5: Look at that beautiful, pixelated art. 

With OpenSea integration coming to Solana 

NFTs very soon, I’m sure some ETH whales 

will be snagging these up for those pixels. 

Who doesn’t love pixelated art in the NFT 

space? 


AlehGonzalez11

GricioAriel

Hazzor_Sol

hz_mord

atoll_art

josephtaylorart

xtillgood

SkyeKiing

yulviart

Garbage_Patch_Kid

septadenata

@ArteOvniNFT 

What are Lucid Screens? 

A thread about our 100 

cap 1/1 art collection 

on @exchgART and the 

labor intensive creative 

process that goes into 

photographing these 

unique portraits. 

Let’s start with the purpose 

of “Lucid Screens”- which 

is to not only serve as a 

beautiful profile picture, 

but to also be 1/1 art that 

all types of people can 

identify with. No one “Lucid 

Screen” is alike, each have 

a unique mood, shade 

of color, material, and 

landscape. 

In terms of how they’re 

made, 

@TimeThiefNFT once 

told us they had to take a 

double take to think how 

exactly We’ve often been 

60 



confused for a 3D rendered 

project at first glance. We 

take that as a compliment, 

proud that our photographs 

are staged in such a way that 

they’re clean enough to appear 

as such. Every detail we aim 

to make matter, especially the 

backgrounds. Traditionally, 

portraiture photography is 

taken in a studio in front of 

a backdrop, but we make it 

a point to actually scout and 

go out to these locations irl 

to bring that added element 

to each. Here’s some insight 

into “Error Screen” which is in 

our current auction. It was a 

portrait taken around midnight 

by setting up lighting in a dark 

wooded area We’re very fond 

of this one and how it turned 

out as it was an interesting 

experiment for us that took 

a lot of trial and error. A nice detail is the oil like sheen that 

appears on the screen when zoomed in. With that being said, we 

hope this thread helps bring an appreciation to “Lucid Screens” 

and how our photography is much, much more than putting 

a cloth over someone’s head and taking a picture lol. Not to 

mention the technical details that go into finding the right lighting 

in different places, setting up shots in public, hours of post 

editing, sorting through them, suffocating under these, etc 

It’s all so worth it. Thank you all to our collectors so far. All 

we want in life is to be able to have the time and resources 

to make our art, you all help bring us one step closer to that 

If you’re interested in being our next collectors here’s how: 

62 


Error Screen” along with two other Lucid Screens are available 

for auction ending tonight 3/16/22 at 8pm CT/ 9pm ET/ 2am 

UTC- 

Link https://exchange.art/single/8xR3X54DU9p6qBcM6Gm- 

7MywTdFg95H87dBZexUqzEAgC 

Link to “Kaizen” https://exchange.art/single/CRbg6pcigyoC7UfRCg2vLXfAhaeEtWDyQtVu7x2Jhzi9 

Link to “Aquadrop” https://exchange.art/single/8ZYEUkcnWBBwMd6v5BPQJsVhz72zjJLRrTjNTycRGuYH 


ItsRyanBates

altarikbagus

64jooski

alexandredesane

faqihnrzmn

jpg_18234

theoryofvision

solBOOGLE

itsMcnatt

superjimmer

NumbOneT_T

archmorley

SHILL Issue 48

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