Explorer’s Manual: The Big Bang

The full article was originally published by TangleSwap on Medium. Read the full article here.

Dear Explorers,

We have been more than overwhelmed with the support we have received on our Big Bang Genesis NFT collection. Within the first 12 hours your demand for our NFTs catapulted us to become the 2nd most successful NFT launch on Soonaverse ever — the #1 spot being taken only by SoonLabs themselves!

Over the last couple of days our space pilots & engineers have focused on answering all of our amazing community’s questions surrounding the various utilities of our NFTs.

We’ve been providing detailed answers left and right and thought it might very well be time for a compilation of all the knowledge around The Big Bang — an Explorer’s manual, so to speak.

Let’s dive in and explore all of the utilities that can be reaped by holding our Genesis NFTs!

Shared Utility — NFT Staking

While all of our primordial landscapes (NFTs) enjoy diverse benefits that are unique and particular to each environment (more on unique utilities below), they have one thing in common: When taken proper care of, little lively farms prosper and yield magnificent VOID fruits. Thus, VOIDs can be earned by staking the NFTs.

Even though many explorers have heard about staking tokens (like IOTA) before, NFT staking is a novel concept that the TangleSwap Crew is bringing to the IOTA ecosystem.

By staking your NFTs into the TangleSwap Docking Stations (in earthly terms: a simple click of a button), the NFTs ancient power is unleashed, allowing the lucky explorer to continuously reap the fruits of their land in our native VOID token.

A quick note on the staking reward — our token: VOID will be a core component of the whole TangleSwap platform and will be required both to influence the future strategy and direction of the platform via community governance, as well as to unlock a range of other functionalities.

We believe that positioning ourselves to become an apex protocol on IOTA requires an apex token. As such, the tokenomics of our VOID token have been deliberately calibrated and fine-tuned to allow for organic growth and price-sustainability in both bull & bear markets. A number of buyback and burn-mechanisms will be implemented to ensure that organic protocol revenue will directly benefit token holders. While the details will be announced closer to the launch of TangleSwap, we are more than excited to unveil all intricacies leading up to the launch of our platform.

The different NFT types will generate the following amounts of VOID per year:

  • Palm Springs | 200 VOID per year
  • Floating Relaxation | 300 VOID per year
  • Tranquillity | 600 VOID per year
  • Ascension | 800 VOID per year
  • Night Fall | 1000 VOID per year

Note that it is the NFTs themselves who are host to the primordial staking power. Holding VOID tokens is neither required to begin the process of NFT staking, nor does it affect the amount of VOID rewards collectable by staking an NFT.

Our NFT Docking Stations will be accessible on the launch of the TangleSwap protocol, expected shortly after the Shimmer mainnet goes live. The emissions rate and allocation for the period after the first two years have passed will be voted on by community governance of all VOID token holders.

Examples

Dom owns 1 Palm Springs NFT, 1 Ascension NFT and 1 Night Fall NFT. He can stake his NFTs to generate 200 + 800 + 1000 = 2000 VOID per year.

Navin owns 2 Palm Springs NFTs, 3 Floating Relaxation NFTs and 2 Ascension NFTs. He can stake his NFTs to generate 2 x 200 + 3 x 300 + 2 x 800 = 2900 VOID per year.

Minters-exclusive Utility — Bonus Airdrop

Shortly after The Big Bang launch, Soonaverse discovered an issue in the code of its randomness generator which also affected our Genesis NFT mint.

While the TangleSwap crew had no way of foreseeing or avoiding this issue, we did want to ensure that nonetheless all parties implicitly affected by the randomness calculation were compensated with an additional reward.

As such, we have decided to allocate 1,000,000 VOID (=1% of our TOTAL Token Supply) to everyone who has either already participated in our Genesis NFT mint, or decides to mint one of the few remaining NFTs. This airdrop will form a part of our total airdrop allocation and thus will NOT introduce additional tokens. Of course — as with every airdrop — the Palm Springs x5 airdrop multiplier will apply in normal fashion (details on Palm Springs follow shortly below). The snapshot date for the airdrop has not yet been announced.

Important to note: the NFTs held at the snapshot do not need to be the same as the minted NFTs — those bought on the secondary market will also allow for airdrop participation, if and insofar the user had also participated in the minting event (and thus had potentially been exposed to the randomness calculation procedure).

Examples

Valerie owns 1 Palm Springs NFT that she got by participating directly in the mint. She will participate in the Airdrop with a x5 multiplier and receive a minimum of 333 VOID.

Thoralf also owns 1 Palm Springs, although he minted a Night Fall that he exchanged for the Palm Springs he now holds. Since it’s not mandatory that the NFT held at the snapshot date is the same as the minted NFT, Thoralf also participates in the airdrop with a x5 multiplier, thus receiving a minimum of 333 VOID as well.

Maximilian did not participate in the mint, but still bought 1 Ascension and 1 Palm Springs on the secondary market. While he will get to reap many benefits in the future, he does not participate in the bonus airdrop, since he did not mint any NFTs.

Looking for more details? You can find out exactly how many VOIDs will be generated by YOUR NFTs from the bonus airdrop by following this link:

If you are interested in further details on the Soonaverse randomization issue, please follow the links below for official statements from both the TangleSwap crew as well as the Soonaverse engineers:

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The full article was originally published by TangleSwap on Medium, where people are continuing the conversation by highlighting and responding to this story.

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