Flying Pigs
  • Flying Pigs Explained
    • Flying Pigs - Overview
      • What is PIG$?
      • The Flying Pigs Manifesto
      • The Lore
  • What is Dollar Donation Club (DDC)
    • Overview of DDC
    • DDC Vetting Criteria
  • Impact To Earn
    • Vote, Stake, Earn
    • Impact Proposals
    • NFT Mechanics
    • NFT Registry
  • Ecosystem
    • Solana Network
    • Our Goals
  • Tokenomics
    • Tokenomics Allocations & Distribution
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  1. Impact To Earn

NFT Mechanics

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Last updated 27 days ago

Within the Flying Pigs ecosystem, NFT’s represent one of the core mission drivers. As a 404 model, tokens are interchangeable for NFTs, with the 5% fee derived from the conversion of tokens to NFTs being what populates the Impact Treasury. Each NFT will be able to evolve after 5 uses, when you evolve your NFT, you'll be able to receive your initial 250,000 tokens (minus the 5% fee) back! As such, the NFTs within Flying Pigs have several unique traits that we’ll discuss below:

  1. Reward Incentives: Holders of NFTs and Flying Pigs tokens who stake will have an opportunity to earn a portion of the 1% supply emission rewards each voting period. This encourages user retention and community engagement.

  2. NFT Reward Multipliers: Users who stake NFTs will earn reward multipliers corresponding to their rarity. Users with multiple NFTs of varying rarity can stack their rewards. However, there is a hard cap (e.g. max 5x per wallet) to prevent exploitation.

  3. Randomized NFT Acquisition: NFT minting is randomized for stakers, users will need to stake 250,000 tokens to the swapping contract, in doing so, an RNG will populate an NFT of any rarity, including Legendary NFTs!

  4. NFT Evolution: Each time an NFT is staked, the pig earns a Gem, once the NFT earns 5 Gems, it will automatically be burned and replaced with an evolved PFP NFT, this PFP does NOT correspond to any multipliers. The user will also receive their initial 250,000 tokens minus the 5% swapping fee. The burned NFT will be replaced in the swapping contract to maintain the 5K NFT supply.

  5. NFT Decay: As a means of preventing users from acquiring NFTs & hoarding them, there will be an acceptable use period associated with each NFT. If a user acquires an NFT and does not stake for 2 consecutive voting periods, they will begin forfeiting uses for those NFTs weekly (e.g. each week NFT loses one use). If that user has not staked their NFT over the course of the entire 2 month period, then the NFT will no longer be eligible for staking and will not be accepted in voting proposals. A detailed registry will be maintained and made publicly available for users to check the available uses of each NFT should they attempt to purchase on secondary markets.

NFT’s will also enable users to maximize their proportional earnings of the 1% voting rewards pool. By staking NFTs, users will be eligible for multipliers that are tied to the rarity of the NFT, (higher rarity = higher multiplier) please see table below for detailed multipliers.