NFTs as a yield-bearing asset class? Keynes would be proud.
Recent meme-coin mania leaves us in little doubt that there is huge opportunity for platforms that can simplify the DeFi experience for the retail investor. We believe that the NFT space presents us with an incredible opportunity to do just that — to inspire and engage those who are bamboozled by jargon and unnecessary technicalities, using incredible art as a proxy for well-proven DeFi mechanics with a healthy dose of gamification thrown in for good measure.
Of course, there is nothing more pervasive in DeFi than yield farming, however many platforms present impenetrable fortresses of exotic pairings that scare away all but the most curious of retail traders. Raini’s here to change that.
In a nutshell, we are setting out to bring yield farming to the masses via our gamified NFT platform. What does that look like? It’s quite simple really; using rainbows, unicorns, our NFT levelling burn mechanics, trading, community connections, skill, and everything else in your repertoire — grab onto those Gold & Chromatic NFTs, because you will be able to stake them and earn $RAINI from our generous NFT Earning Pools.
How will this work?
As we’ve covered in previous Mediums this week, each NFT drop will contain a number of artworks with multiple copies available. These initial copies will all be Core editions.
For each drop, the numerical parameters will vary, but for example:
- If you collect 10 Core editions, you can burn them through our platform to mint 1 Gold edition.
- If you collect 3 Gold editions, you can burn them to mint 1 Chroma edition.
- Note that the parameters for any drop will only ever allow for 1 Chroma edition per artwork.
Once you have a Gold or Chroma NFT, you will be able to stake it in one of our NFT Earning Pools and earn $RAINI tokens.
By way of further gamification and to ensure the sustainability of the model, each NFT will have a stamina rating. The stamina will define the earning rate for a given pool, and will deplete over time. Once the stamina is depleted, it can be topped up with stamina potions to continue earning.
We feel that this approach will heavily reinforce the value of the NFTs available via the Raini platform’s curated drops. We have already announced a lineup of incredible established artists plus we’re building a market-leading toolkit to enable evolving NFTs — and now in addition, we’re providing guaranteed yield on the rarer collectibles and, by extension, supporting market value for the Core editions of Raini NFTs. Every Core NFT is valuable, because every single one represents a puzzle piece for creating a Gold NFT.
If you had any doubt or question about the merits of stacking $RAINI and farming for Rainbows & Unicorns, we hope this is music to your ears.
Remember, our NFT drops will include pieces exclusively available to Unicorn holders, and Unicorns will be valued more highly within the ecosystem; so we strongly encourage you to consider providing liquidity and staking your LP tokens (on PCS or Uniswap).
A quick note on Uniswap V3 LP staking — this is being worked on, and a liquidity rush event is being planned to coincide with the launch of this.
We hope you’ve enjoyed our lineup of news for Rainiweek v1.0. It was the first of these events, and certainly won’t be the last.
PS: Some alpha right here — we’ve got huge news that we’ll be dropping next week, so stay tuned.
Main Raini Website: raini.io
Raini Launchpad: raini.io/launchpad
Pancakeswap: Buy on Pancakeswap
Uniswap: Buy on Uniswap
Ethereum & BSC Contract: 0xeb953eda0dc65e3246f43dc8fa13f35623bdd5ed
Etherscan, DEXTools + more: linktr.ee/rainicoin