Defining a Liable Reward policy for Lympo SPORT token holders
A reliable and optimized Lympo NFT ecosystem is a critical point in successful SPORT integration. To reach this goal, we had to overcome several challenges, which we would like to present in detail.
SPORT 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 SPORT 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 SPORT 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 SPORT. You may find the resulting curve in the following graphs (Figure 1). For instance, if you hold 2,500 SPORT in your wallet, you will earn 3 credits every day.
As you can see from the graph (Figure 1), for all groups, the steepest rise in the daily credit income is located between 300 and 20,000 of SPORT, 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 SPORT 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 standard amount to stake is 300 SPORT, while the maximum standard is 1 million tokens.
Different staking examples based on the Figure 1:
- 1.A person who stakes 300 SPORT receives around 1 credit per day
- 2.A person who stakes 100k SPORT receives 7.6 credits per day
- 3.A person who stakes 1M SPORT 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 SPORT. 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.
A multiplier is a way to balance the NFT minting platform due to SPORT price fluctuation.
The base function is polynomial (figure 1), which will have a multiplier based on SPORT token market fluctuations. Lympo will introduce various multipliers in different Lympo development stages. Introducing: Multiplier 2.0
Multiplier 2.0 - "Staking coefficient" (2022 07 12), meaning that the whole base of values in the polynomial function (figure 1) is multiplied by the value it represents. Daily credits multiplier remains standard.
Last modified 1yr ago