- Introducing Bulls PayDay: A Revolutionary Reward Mechanism for BSCWIN Bulls
Just now·4 min read
TLDR: BSCWIN Bulls NFT holders that hold a minimum required amount of $BSCWIN tokens will receive weekly rewards in the form of $BSCWIN tokens: (a) the amount of distributed tokens will decrease with increasing token price; (b) the rewards’ APY by NFT price will increase with increasing token market cap, ensuring sustainability and best rewards for early supporters of the Ecosystem.
Inspired by, and building on top of previous successful NFT utility projects that reward their users on a regular basis for holding their corresponding NFTs (e.g., CyberKongz, SupDucks), the BSCWIN Ecosystem introduces the Bulls PayDay, with the ultimate goal of rewarding loyal BSCWIN Bulls NFT holders in the form of the currency of the ecosystem, i.e., the $BSCWIN token, that primarily serves as a lottery ticket with no expiration date.
BSCWIN Bulls utility is unique from any other project in the NFT space.
Besides offering the best APY’s in the market, what stands us apart is that rewards are independent of royalties, creating more sustainability and therefore a much more robust Ecosystem.
BSCWIN Bulls NFT Rewards
As explained in a previous article, $BSCWIN lotteries trigger four times a day, effectively removing an equal proportion of $BUSD and $BSCWIN tokens from the Liquidity Pool (LP). The $BUSD is sent to the lottery winner, while the $BSCWIN tokens are sent to the DAO wallet.
The Bulls PayDay reward mechanism will use the $BSCWIN tokens accrued in the DAO wallet from lotteries to pay all active BSCWIN Bulls NFT holders on a weekly basis. To ensure Bulls PayDay is successful and supports the long-term sustainability of the BSCWIN Ecosystem, the amount of distributed tokens to NFT holders will decrease with increasing token price; in addition, the rewards’ APY by NFT price will increase with increasing token market cap.
Tokens Distributed Vs Price
Key requirements to be eligible for Bulls PayDay are as follows:
(1) Hold at least 1 BSCWIN Bulls NFT in your ETH wallet.
(2) For each BSCWIN Bulls NFT, maintain a minimum amount of $BSCWIN tokens on BSC under the same wallet address where NFTs are held. The minimum token amount required per NFT is originally set to 1000 $BSCWIN tokens.
For example, a user with 3 BSCWIN Bulls NFTs in his/her wallet will need to hold at least 3000 $BSCWIN. We believe that doing so, promotes the growth of the ecosystem as a whole, as it offers maximum rewards to users that hold both the token and the BSCWIN Bulls NFTs, and limits emissions of $BSCWIN.
The projected rewards are designed to be higher for people who minted the BSCWIN Bulls NFTs. BSCWIN Bulls NFT holders receive approximately 4.6 $BSCWIN/NFT/day at $0.25 $BSCWIN price (1.6 million market cap), and 0.73 $BSCWIN/NFT/day at $10 $BSCWIN price (63 million market cap). For an initial investment of approximately $300 including gas per NFT, that’s an APY per NFT price as high as 200%-900%, depending on the $BSCWIN market cap (see graph below). This corresponds to 4x–18x higher yields than those of Cyberkongz or SupDucks, which offer 50% APY. In addition, accrued $BSCWIN tokens provide a compounding increasing probability of winning the intraday lotteries since the lottery win odds are directly proportional to $BSCWIN token holdings.
APY Increases VS Market Cap
Disclaimer: APYs per NFT price are approximate estimates and assume that users already hold the required amount of $BSCWIN tokens. Estimations also assume that the LP parameter (k = x * y ) does not change significantly, which is justified by the fact that NFT royalties will be periodically deployed to replenish LP used for lottery payouts.
Rewards will be calculated and distributed on a weekly basis, effective retroactively since the BSCWIN Bulls NFT sellout date, i.e., November 19th, 2021. The first rewards payout date is scheduled for December 5th, 2021. To avoid reward arbitrage by users, snapshots will be taken daily at random times, and eligibility will be determined based on the total number of days that users met the key requirements for Bulls PayDay rewards (see previous section). Kind reminder that users will need to hold the required amount of $BSCWIN tokens and BSCWIN Bulls NFTs under the same wallet address on BSC and ETH networks, respectively, for eligibility verification purposes.
- Date of publication:
- Thu, 11/25/2021 - 17:35
Click on the link - it will be copied to clipboard