Defining a Liable Reward policy for Lympo LMT token holders
A reliable and optimized Lympo NFT ecosystem is a critical point in successful LMT integration. To reach this goal, we had to overcome several challenges, which we would like to present in detail.
LMT quantities distribution
As shown in Figure 1, LMT quantities distribution between our participants follows skewed Gaussian (i.e., normal) distribution, which makes it complicated but solvable; therefore, we reached the final ecosystem considerably fast.
After thoughtful consideration, five main different types of cards were implemented in the Lympo NFT ecosystem. Shortly, you will recognize them as Common, Uncommon, Rare, Epic, and Legendary. Each type explicitly represents our client groups based on the amount of LMT they have in our platform. After careful evaluation, we assigned each group an average daily income of the credit, which they will use to mint (purchase) these cards. To calculate the best fitting function that would define the quantity of the contribution relevant to the daily credit income (stake LMT and receive credits), we have employed a polynomial regression data fit.
We used this polynomial function to interpolate and gradually distribute the credit income within each participant group based on their holdings in LMT. You may find the resulting curve in the following graphs (Figure 2). For instance, if you hold 2,500 LMT in your wallet, you will earn 3 credits every day.
As you can see from the graph (Figure 2), for all groups, the steepest rise in the daily credit income is located between 300 and 20,000 of LMT, while the income plateaus from 50,000. This creates a broader credit income variance into a wider group of our members and provides a better means of competition. This also allows minor and major holders of LMT to have fair competition. Although the credit income plateauing in the major holder’s side indicates that the income and quantities are not directly related, major holders may still maintain their advantage. Cards are minted on a first come, first served basis, which means that one who collected enough credits earlier will be able to acquire the card first. Credit income, pricing, and supply of NFTs were designed to maintain a small deficit in collectibles in the overall market. Based on this plan, the value of the NFTs is set to follow market trends. Hence, do not wait—grab your cards as soon as you can!
Returning to the different ranks of the NFTs, the pricing of cards is shown in Table 1. For example, if your daily income is 3 credits, then you may mint a single Common card every day. For similar examples, see the NFT mint capabilities table specific to 1, 5 and 10 credit earners (Table 2). The minimum amount to stake is 300 LMT, while the maximum is 1 million tokens.
Different staking examples based on the Figure 2:
- 1.A person who stakes 300 LMT receives around 1 credit per day
- 2.A person who stakes 100k LMT receives 7.6 credits per day
- 3.A person who stakes 1M LMT receives 10 credits per day A higher rank in the collectibles will always provide a higher satisfaction and better experience (in the staking or gaming environment) for their holders. Every day we put tremendous effort into the Lympo NFT ecosystem, which will enable a reliable and optimized market for our player cards, as well as fair leverage between contributors holding a different amount of LMT. Follow us to hear more on this matter. The formulas used in the design of the staking mechanism will be adjusted, optimized and tweaked based on the data, and the feedback that we will gather during the NFT minting period. Our goal is to create a fair competition system between all holders without excluding any group of participants.
Introducing: multipliers
A multiplier is a way to balance the NFT minting platform due to LMT price fluctuation.
The first multiplier is the "staking coefficient", which means that the whole base of values in the polynomial function (figure 2) is multiplied by the value that it represents.
The second multiplier is the "reward coefficient", which means that the daily credits reward is multiplied by the coefficient value.
Standart staking value
Staking value with 3x "staking coefficient"
Standart Credits per day
Credits per day with 1.75 "reward coefficient"
300 LMT
900 LMT
1
1.75
100 000 LMT
300 000 LMT
7.6
13.3
1 000 000 LMT
3 000 000 LMT
10
17.5
Given the coefficient implementation, we can adjust the days needed to mint specific NFTs.
Last modified 22d ago
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