Computer-Generated NFTs are not fun. A lot of times you will get a randomly generated JPEG that you don’t like or the one does not represent yourself in the Metaverse.
As a Fully Customizable NFT, MYPUNKS allows you to make infinite NFT combinations by combining items and faces, which are two individual NFTs. In this way, you are able to make your favorite NFTs.
However, holding a NFT in your wallet isn’t really fun as well. What if? What if you can make an NFT from your NFT? We’ve applied a DeFi-like tokenomics design that allows you to mine extra NFTs from the NFT you hold.
Face: 5000 faces will be minted for free at first, and then be acquired by staking only. Total Supply: 9999
Item: The Items will be minted with different prices determined by the current number minted. You are able to acquire the items either through random minting (this will be totally random) or stake the combination(face+item) into certain staking pools. Total Supply: 16666
Genesis 0 (Whitelisted Only): 5000 minted for free, FCFS, 1 face / address maximum
Tokenomics
Face Total Supply: 9999
Acquired by staking: 4999
50% claimed for free, 50% acquired by staking & mining
Item sales will be conducted with no time restriction. Price will be determined based on the bonding curve. The price will be gradually increased by the numbers of minted.
Items (9999, from Minting, 60%):
TokenIds: Price: Productivity Mul:
1 - 999 -> 0.03 ETH 1.05x
1000 - 2999 -> 0.05 ETH 1.10x
3000 - 7999 -> 0.07 ETH 1.15x
7999 - 9999 -> 0.09 ETH 1.30x
Items (6666, from Staking, 40%):
10000 - 16666. -> 0.00 ETH 1.00x
The “Productivity Mul” designates the productivity multiplier. With the multiplier, the NFT staking period will be reduced. We will provide a calculation formula in the later parts.
Instead of letting NFTs lay in the wallet, MYPUNKS holders are able to mine extra NFTs by staking the combination.
To participate into NFT Mining, a user has to hold a combination (1 face with 1 item equipped). There are two pools that you can choose to mine.
By staking the combination, you will be able to mine a face in a certain period. When the staking time is over, you can claim a face for free (but, definitely pay for the gas). Due to the limited supply of the faces, this mining pool will be closed when all the faces are mined.
The Item Mining Pool will be opened until all the items are sold out. You will be able to mine an item by staking your combination. The claiming process is pretty much the same as that of the face.
Mining Factors will affect the staking time as well as the traits of the items and faces.
These factors are:
Rarity Score of the Combination
Number of Items equipped on the Face.
Productivity Multipliers of the Item
Each Item and Face will be tagged with a certain rarity score. The rarity score will help to determine the rarities of the faces and items being mined. The rarity score of the combination will be calculated by the sum of the items equipped on the face plus the face rarity.
Combination_RS = ∑ITEM_RS + FACE_RS
For example, if you have 2 items with RS(rarity score) of 10 and 50, and a face with RS 40, your Combination_RS will be 100.
With the higher Combination_RS, you will have a better chance of getting rare items from mining.
The staking time will be directly affected by the number of items equipped on the face. When you stake the face, you will have a specific locking time until you can claim your face. The staking time will be reduced by the formula below. To talk about the formula, let us address the Productivity Multiplier first, which is also an important factor that directly affects the staking time.
Every Item will have a Productivity Multiplier(PDM). The Productivity Multiplier varies based on the Token_Id. The productivity multiplier will help to determine the time reduction of mining a new NFT. This will work for both mining pools. The Staking Period Reduction will be calculated based on the following formula:
Staking Period = Base Period * (∏(Item_PDM))
The ∏(Item_PDM) denotes the product of Item Productivity Multiplier.
For example, if you have three items equipped on the face with multipliers of: 1.05, 1.10, 1.15. Then your μ(Item_PDM) will be (1.05*1.10*1.15) = 1.328. If the base period is 336 hours, then your staking time will be reduced to 253 hours.
Suppose
The MP Token will serve as Governance Token to the NFT Holders of MYPUNKS. This will help MYPUNKS to form a DAO and make the project a completely autonomous and decentralised project.
30% Airdrop to the MYPUNKS Holder
50% Mined by MYPUNKS Pool by staking NFTs
20% MYPUNKS DAO Treasuray