TangleSwap Genesis NFT
The Big Bang is coming.
Journey Log — Reference TS270322
It’s been almost a month since our previous announcement where we revealed the future of staking IOTA NFTs, and officially introduced our utility-driven Genesis NFT Collection, The Big Bang.
We understand there is a considerable amount of information to assimilate around real-utility, stakeable NFTs that are fully integrated on a DEX built on top of feeless, scalable & green IOTA — so today we are only bringing you the most important bits of info about our collection. Let’s get right to it!
What are Utility NFTs?
Non-Fungible Tokens (NFTs) are essentially records of ownership for unique digital or physical items.
Utility-driven NFTs typically build on substantial intrinsic value by providing token-gated perks, access, and opportunities that go beyond single airdrops or bare art appreciation.
TangleSwap’s Dual-Utility System
Our Genesis NFT collection has been crafted over half a year with great care to provide access to six different types of long-lasting, meaningful utilities.
We have decided to start strong and pioneer with not only one but two separate utilities per NFT, which are wholeheartedly centered around community-building and sensible economic rewards.
While utilities are deeply rooted at the heart of our collection, add on top of that a gorgeous face composed of vibrant 3D-animated aesthetics and fine attention to detail. We have been fortunate to onboard prominent 3D artist & animator Merlo, who also leveraged his extensive expertise in Ethereum NFT markets to advise the crew on short- vs long-term strategies to generate real value, always with the best interest of the IOTA ecosystem in mind.
Our team seriously can’t wait for the full art reveal.
The Big Bang: Shared Utility
Liquid NFT-Fi Staking
Let’s break that down into pieces.
As introduced in our previous blogpost, NFT Finance or NFT-Fi refers to the concept of leveraging your Non-Fungible Tokens to use just as you would do with any fungible token or cryptocurrency: buy, sell, swap, stake, lend, borrow… Simple as that!
Staking essentially means locking up your tokens into what’s usually called a Staking Pool — a term that in our opinion is confusing due to its resemblance with Liquidity Pools, we opt instead for ‘Staking Fields’ — to start passively generating a monetary yield, sometimes as part of a Proof of Stake (PoS) protocol but not necessarily.
Finally, Liquid highlights the unique feature of our Staking Fields to let users withdraw their funds or NFTs at any time with complete freedom. Instead, in order to further incentivize retention we will be implementing a novel, simple, nonrestrictive mechanism that — to the best of our knowledge — has never been done by previous DeFi protocols. To err on the side of caution, we would like to protect this intellectual property for now, and reveal the intricacies of such feature at a later date closer to Mainnet launch of our NFT Staking dApp.
Overall, if we piece these parts all together we get that our Genesis NFT holders will enjoy the following: non-fungible tokens that can be staked on TangleSwap to automatically yield passive rewards in VOID, while maintaining their ability to be freely withdrawn at any point in time!
The Big Bang: Distinctive Utilities
We believe that stakeable NFTs generate huge built-in incentives of their own, for the plain reason that — on top of the value of the NFT in itself — holders accrue independent rewards in the native utility token of a DEX built on a nascent, revolutionary IOTA ecosystem.
Still, we felt early-stage supporters of any DeFi project ought to be rewarded generously together with the growth of the project, which led us to go a step beyond and add a second additional utility that would be unique to each NFT, and drive external value as much as staking does for intrinsic utility.
With this ethos in mind, we would like to introduce our set of five ‘Primordial Landscapes’ which represent the diverse grandiose environments into which primitive elements ejected from The Big Bang coalesced, ultimately leading to the formation of Void and Mass.
A beginning, for everyone, and everything.
2500 pieces | 🪂 Airdrops Multiplier | 20% APY
In the rolling hills of Palm Springs, mindfulness and serenity inspire clarity as crystalline as the waters of its lagoons and streams. Those in Palm Springs wear wisdom with grace, their frames of mind sharp enough to see past any problem posed.
Palm Springs residents enjoy extra-generous VOID airdrops over time.
As detailed on our upcoming tokenomics, TangleSwap will airdrop 5% of its VOID supply to the community over a period of 2 years.
With a 5-fold increase in airdropped tokens, Palm Springs holders will reap five times as many rewards per NFT owned in this category. When holding multiple, the corresponding airdrop amount increases linearly: x5, x10, x15, x20…
1500 pieces | 👑 IFO Whitelists | 30% APY
Not short of paradisiac scenery, the mesmerizing sea-glass waves and silky shores in Floating Relaxation suffuse the landscape with a blissful hedonism blanketed by inviting sunlight. Floating Relaxation is an enchanting Eden for the spirited and adventurous.
Floating Relaxation residents gain exclusive access to whitelisted IFOs.
Initial Farm Offerings (IFOs) enable new DeFi projects to raise capital by participating in pre-sales events hosted on a DEX, typically by offering their utility token at a significantly lower price than later rounds or public sales.
The maximum investable amount is $500 USD per IFO and owned NFT. When holding multiple Floating Relaxation pieces, max investable amount increases linearly for all whitelisted IFOs on TangleSwap: $500, $1k, $1.5k, $2k…
500 pieces | 🥂 The Great Gatsby | 60% APY
Genuine and magnetic, those who make Tranquillity their home become seduced by glossy lakes and hypnotic reflections. Although seemingly laid back, the easy-going nature of Tranquillity’s inhabitants belies their contemplative habits and inner desire for introspection.
Tranquillity residents become exclusive guests to our triannual metaverse events à la The Great Gatsby.
Our triannual events are intended to become a central hang-out spot for the IOTA community, including varying amounts of champagne, poker, chess, conferences, AMAs, debates, DJs… and perhaps most notably, VOID treasure hunts for hidden tokens worth $ hundreds each. Time to dust off your party spacesuit and, if you haven’t already, grasp the mood by watching the movie.
These metaverse parties, gatherings, and events will only be accessible to Tranquillity holders. When holding multiple of these non-fungible tickets, you will be able to use them to invite your friends or family, or sell them to others individually just as you would do with any physical entry tickets to a festival!
300 pieces | 🎟️ Presale Access | 80% APY
In surreal, alien skies, Ascension floats in dreamlike, heavenly composure. The landscape enchants intellectuals, artists, writers, and daydreamers, their creativity unbridled on corporeal clouds as smooth as marshmallow.
Ascension residents attain an exclusive pass to our VOID presale.
Token presales sell part of the total supply to interested parties — typically private investors such as Venture Capital firms and Angel investors—in order to raise the necessary funds and ongoing strategic support required for an optimally successful project launch. As shown on our upcoming tokenomics, TangleSwap will allocate 10% of VOID supply towards a presale in Q3/Q4 ‘22.
The maximum investable amount is $500 USD per owned NFT, which means that Ascension holders will represent up to 5% of the total presale volume. When holding multiple, max investable amount increases linearly: $500, $1k, $1.5k, $2k…
200 pieces | 💎 Trading Boost | 100% APY
Soon after sunset, the iridescent waters of Night Fall gather around those who are self-reliant and eccentric. The atmosphere in Night Fall spreads a cheerful, permeating optimism and quirky cleverness that seems not to be elsewhere replicated.
Night Fall residents thrive on reduced liquidity fees required to trade assets.
As described in our upcoming documentation, TangleSwap will have only one type of fee, which is a liquidity fee of 0.25% that is incurred when trading cryptocurrencies.
Night Fall holders enjoy a 10% discount on all TangleSwap trading fees. When holding multiple, this is the only utility that does not add up together: the maximum discount possible will always remain 10%, regardless of the amount of NFTs owned. This has been deliberately decided to ensure fair usage of our DEX since, besides its remarkable APY return, we anticipate many whales will be craving the unique benefits associated with this token.
Below is the essential intel on our upcoming collection:
- Price: 500 MIOTA
- Process: Blind Minting
- Date: 15th April 12022
- Time: 15:00 CET
- Place: TangleSwap’s Soonaverse Space
- Total Supply: 5000 pieces
- Reserve Supply: 50 pieces — 25 for Team, 25 for Giveaways & Advisors
The crew carefully selected the available supply and collection price to strike a generous balance between anticipated value, mint cost, weight of early-stage contribution & support, and distribution fairness.
Also, after lengthy discussions with various IOTA community members, we opted for a blind minting mechanism, which means the NFTs are revealed only after minting. Blindness incentivizes an equitable genesis distribution for the entire community, and that is our utmost priority. If there is any particular utility or design that caught your interest, we encourage you to find a suitable fellow explorer to swap or trade your non-fungibles on the Soonaverse.
In addition to all the information included here, on March 31th we will release our full documentation — including comprehensive tokenomics, company vision, team overview, and educational material both on general DeFi and on TangleSwap specifically.
Finally, we would like to conclude by communicating our planned use of funds from this community raise in an upfront and transparent manner:
- We intend to use 80% of raised capital to pay salaries for the entire team for our work over 2021, 2022, and 2023. We have been operating out of our own pocket since June of last year, with no compensation since we have not yet received any sort of economic assistance to date, so our upcoming Genesis NFT sale will allow every single member — present and future — of the TangleSwap crew to keep working with the same insane level of energy and none of the current financial stress.
- As for the remaining 20% of funds raised, those will be deployed to the TangleSwap Treasury and used to cover the operative costs associated with running our platform for all of 2022 and 2023 — with a substantial majority being put towards two full audit processes (one before launching on Shimmer Mainnet, the other prior to IOTA Mainnet) with a highly reputable and repeatedly awarded New York-based firm provided by the IOTA Foundation. Addresses for both our Team & Treasury wallets are included in the upcoming TangleSwap documentation.
We are beyond excited to finally release such meticulously designed NFTs into the hands of our IOTA community, and we encourage all interested explorers to reach out to us and let us know any questions on our official channels.
See you all on the other side!