Hyper boost your favorite vaults with our NFT Collectibles!
NFT Collectables and NFT Farming
We will release a series of Non-Fungible Tokens (NFTs), geared for collection purposes with a prime focus on the added utility of boosting daily APY upto 50%.
With the revenue generated by the sales of the NFT, we will buyback and burn Medusa tokens. The goal of buyback and burn is to increase the value of $MEDUSA token by lowering its supply as income increases.
With the NFT Marketplace, users will be able to auction off their NFTs. This opens up an opportunity for smaller holders to farm and forge NFTs, and potentially sell to holders with bigger wallets to take advantage of the boosted APY farming.
All auctions are facilitated by smart contracts, where auctions can be done either through $MEDUSA or $BNB. A 5% royalty fee will be charged between any trades and will be used for buybacks and burns.
Every NFT will be assigned a rarity score from 1–5, where the higher the rarity score, the greater the boost to farming! Each holder can be equipped with up to a max of 5 NFT's to boost up to a maximum 50% Daily APY of Medusa Token.
Tier 1 — Common: 2% boost
Tier 2 — Uncommon: 4% boost
Tier 3 — Rare: 6% boost
Tier 4 — Epic: 8% boost
Tier 5 — Legendary: 10% boost
By equipping a total of 5 items (NFT), you will be able to receive up to a maximum of 50% boost on daily Medusa APY!
Users will be able to use the forge to create Higher Rarity NFT's. This is done by providing 2 NFT's of the same level (both of which can be bought with $Medusa, that is burnt). Each forge takes 12 hours to complete, so plan your time wisely!!
✳️ Forging 2 common NFT's you will get you 1 Uncommon NFT in 12 hours
✳️ Forging 2 Uncommon NFT's you will get you 1 Rare NFT in 12 hours
✳️ Forging 2 Rare NFT's you will get 1 Epic NFT in 12 hours
✳️ Forging 2 Epic NFTs you will get 1 Legendary NFT
Putting this across in Layman's terms/ Basic calculation :
🔱 Take an example, if 1200 common NFTs will be launched. After forging all 1200 common NFTs, after forging , only 75 Legendary NFTs will be left. One can hold only 5 NFTs at a time irrespective of them being of any rarity score.
Utilizing Chainlink VRF
In addition, Chainlink VRF will be used to randomize the assignment of rarity to the minted NFTs with a provably fair and verifiable source of randomness from the get-go. This will provide a fair and smooth distribution across our community. The usage of Chainlink VRF will be crucial to the success and transparency of our NFT release.
You can opt to collect cheaper NFT's, and then forge them to upgrade or resell on the marketplace. Higher rarity NFTs give you more clout and a higher APY boost, so there will be a natural demand!
This combination of NFT Farming and Stheno token (upcoming project) seeks to enhance the Medusa Ecosystem by providing greater utility and opportunities for $MEDUSA holders.