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Staking and Token
Going over the staking mechanism and reward token associated with your NFTs.
Not Another Ponzinomics-scheme: One of our founders, with background in the world of private equity, does not support token ponzi-schemes and therefore we've created the appropriate setup for a reward system.
OSS is a typical way to say many things inside the dojo. From "okay" to "thank you", it's a very versatile way of showing appreciation to someone, something, or a piece of information.
$OSS is a reward and utility token that can be exchanged for benefits that will range both on and off-chain. A token is the perfect way to reward holders relative to their holding size and holding time, like it should. Being a decentralized token, holders can decide to trade these between them for whatever value they determine it has for them.
$OSS is not a passive-income promise, neither it should supplement any form of income, return of investment, or an investment vehicle. Do not purchase $OSS or a MMAD NFT in expectation of a passive return.
Good to know: 1 $OSS = 1 $OSS. We will never attribute a fiat value to this token.
There will be no pre-mint or team allocation. The only way for $OSS to start circulating is through the stakers.
The token will be governed by a halving protocol that will execute for the first time after 45 days of staking going live. After that 45 day period, it will halve at a 1.5x multiplier of the previous period. Therefore, the second halving will happen at day 67.5, then 101.25, and so on.
The Genesis collection will start with a daily token yield of 12 $OSS. If 4,440 NFTs are staked at the same time and going through the halving protocol, after 4 years there will only be 8.3M tokens in circulation.
The Upgraded collection will start with a daily token yield 3x of the Genesis Collection. Assuming this starts after 45 days, the Upgraded collection will start yielding 18 $OSS tokens, where the Genesis will be yielding 6 $OSS tokens. If all 4,440 NFTs are upgraded starting day 46 and staked, after 4 years there will only roughly 17.7M tokens in circulation.
Tokens | NFTs | Days Until Halving | Total Per Period | Tokens in Circulation | Emissions Per Month | Total Time in Days | Total Time in Months | Total Time in Years |
|---|---|---|---|---|---|---|---|---|
12 | 4440 | 45 | 2,397,600.00 | 2,397,600.00 | 1,598,400.00 | 45.00 | 1.50 | 0.12 |
6 | 4440 | 67.5 | 1,798,200.00 | 4,195,800.00 | 799,200.00 | 112.50 | 3.75 | 0.31 |
3 | 4440 | 101.25 | 1,348,650.00 | 5,544,450.00 | 399,600.00 | 213.75 | 7.13 | 0.59 |
1.5 | 4440 | 151.875 | 1,011,487.50 | 6,555,937.50 | 199,800.00 | 365.63 | 12.19 | 1.00 |
0.75 | 4440 | 227.8125 | 758,615.63 | 7,314,553.13 | 99,900.00 | 593.44 | 19.78 | 1.63 |
0.375 | 4440 | 341.71875 | 568,961.72 | 7,883,514.84 | 49,950.00 | 935.16 | 31.17 | 2.56 |
0.1875 | 4440 | 512.578125 | 426,721.29 | 8,310,236.13 | 24,975.00 | 1,447.73 | 48.26 | 3.97 |
Tokens | NFTs | Days Until Halving | Total | Text | Emissions Per Month | Total Time in Days | Total Time in Months | Total Time in Years |
|---|---|---|---|---|---|---|---|---|
18 | 4440 | 67.5 | 5,394,600.00 | 5,394,600.00 | 2,397,600.00 | 112.50 | 3.75 | 0.31 |
9 | 4440 | 101.25 | 4,045,950.00 | 9,440,550.00 | 1,198,800.00 | 213.75 | 7.13 | 0.59 |
4.5 | 4440 | 151.875 | 3,034,462.50 | 12,475,012.50 | 599,400.00 | 365.63 | 12.19 | 1.00 |
2.25 | 4440 | 227.8125 | 2,275,846.88 | 14,750,859.38 | 299,700.00 | 593.44 | 19.78 | 1.63 |
1.125 | 4440 | 341.71875 | 1,706,885.16 | 16,457,744.53 | 149,850.00 | 935.16 | 31.17 | 2.56 |
0.5625 | 4440 | 512.578125 | 1,280,163.87 | 17,737,908.40 | 74,925.00 | 1,447.73 | 48.26 | 3.97 |
Whenever the token is used in exchange for rewards, 95% of these will go back to the staking protocol wallet and effectively be recycled for holders. 5% will be transferred periodically to a DAO wallet to re-enter circulation through events and to community members that go above and beyond. There is no hard-cap in the total amount of $OSS, as putting one in place makes the system become short-sighted and adds no value (Different from Bitcoin where miner incentives can be met through fees). The halving is put into place to maintain certain emission control.
Anyone is free to trade the token OTC/P2P. Users can also get the token verified in platforms such as Famous Fox Federation or Raydium, but this will not be an attribute fundamental to the token ecosystem.
Anyone is free to build and fund a liquidity pool for $OSS, as it's a decentralized ecosystem. Monkey Martial Arts Dojo will not fund a liquidity pool, as this would create the environment where the token can be seen as passive income.
We also believe (and as it has been shown in other projects), that a liquidity pool is a fast way for the project to burn through their stable reserves and a mechanism that incentivizes dumping.
Rewarding holders through NFT verification is viable when the rewards can be considered of equal value to all holders. Such as whitelist to new drops, airdrops, and things of that nature.
Our Rewards: We understand that the MMAD rewards will be considered of different value to different people. This is why a token is the superior way of rewarding your holders. Some holders will value merchandise more than access to an NFT conference, or vice-versa.
If you believe in the future of MMAD and have 10 Monkeys vs only having 1, we believe that you should be rewarded for your conviction; and, the same logic applies to your time holding. Tokens that provide daily emissions is the perfect way to do this in the most unilateral and fair way.
Last modified 6mo ago