🐰

Rebasing NFTs

Staffing

RoleDiscord Handle
Contract Dev
JosepBove#9999josephroc (🦎🦎)#1646
Frontend Dev
neeko (🦎🦎)#2485
UX Design
0xjim#6969
Visual Design
aethermilk✨#7792
Art
TBD
Coordinator
TBD
Content/Copy
TBD
QA
TBD

High-level Idea

📖

NFTs that — as you stake them — give you more NFTs

OR

📖

NFTs that are held in your wallet but more are minted / some are burned based on some threshold (e.g., oracle that 1 NFT = 0.1 ETH)

Context

Why we want this

  • Rebasing NFTs would be absurd and hilarious
  • People get yield from their NFTs

How it would work

Option 1: like Olympus

  • [P0] Buy NFT from the genesis drop
    • genesis NFTs will look different than the new, rebased NFTs
    • New, rebased NFTs can also be staked. No difference in yield accrual
  • [P0] Stake NFT
  • [P1] Receive sNFT as staking derivative
    • No utility for now, but maybe a market will form
  • [P0] More NFTs are given to you every epoch (i.e., rebase period)
    • For example: 1 NFT per day

NFTs given are dependent on the rarity of the NFT you staked

  • Rarity tiers
    • Common (1 NFT per day / 36500% APY)
      • Will only receive common NFT (100%)
    • Rare (1 NFT per day / 36500% APY)
      • 1% receive another rare NFT
      • 99% receive a common NFT
    • Legendary (2 NFT per day / 73000% APY)
      • 1% receive a legendary NFT
      • 10% receive a rare NFT
      • 89% receive a common NFT
    • God (3 NFT per day / 73000% APY)
      • 1% receive god NFT
      • 10% receive legendary NFT
      • 20% receive rare NFT
      • 69% receive a common NFT

Option 2: like Ampleforth

  • Hold NFT in EOA
  • More NFTs are minted and given to you or NFTs are burned from your wallet every epoch
  • NFT are pegged to 0.1ETH

Should Genesis NFTs have more yield?

How it would look

NFTs

  • Rabbits! Because they multiply
  • Four tiers
    • Common
    • image

    • Rare
    • image

    • Legendary
    • image
  • God
image

Alternative:

image
image
image

UI

  • landing page
  • mint page (i.e., mint a genesis NFT)
  • dashboard (some stats)
  • stake & withdraw page
  • docs