One of the most popular features of Stasis Network, since we launched publicly on May 15th, has been the Stasis Viking Collection NFTs. We admit a mutual fund can feel kind of boring, so the team wanted to spice things up and add some story and lore to the protocol.
NFTs are a major market in cryptocurrency, and the Stasis Network team felt there was a way we could integrate this technology into the protocol that was additive in nature. This comes in the form of holders of the SVC being able to earn passive income just by possessing an NFT.
Passive Income NFTs
Owning an NFT that promises you passive income isn’t a new innovation. We’ve seen it for a couple years now with different mining NFTs, staking, etc. However, with Stasis Network, our NFTs offer users a weekly, lifetime payout from the token supply, which represents shares of the mutual fund.
Within Stasis Network, there is a smart contract exclusively for NFTs. In this contract, 9.6% of the total token supply is locked. Because Stasis Network Token (STS) is deflationary, we will always be burning supply. As supply goes down, it requires fewer tokens to maintain the 9.6% threshold.
200,000,000 Supply x 9.6% = 19,200,000 190,000,000 Supply x 9.6% = 18,240,000 — (Difference of 960,000)
The excess tokens above 9.6% are paid out to the NFT holders on a weekly basis. Because token burns are automated through tax contracts, plus additional manual buyback and burns, this is how we ensure NFT holders will continue to receive weekly passive income for life. There is always the potential for additional, random rewards for NFT holders as well.
The projected returns for holding an NFT is 25–50% APR. There are 700 NFTs that will mint for $600 each on June 11th.
Liquid Decaying Features
Illiquid NFTs are no longer desirable. Most of them die out, or holders lose interest. Due to their illiquid design, many holders feel like hostages. With SVC, an NFT holder can redeem it for a 20% Redemption Tax if they need immediate access to their proportion of backing tokens in the contract.
As the protocol matures, burns slow down naturally. With that, NFT rewards will slow down. To combat this, the NFT contract will decay 0.33% each week, releasing small additional rewards to NFT holders each week. It will take many years for the contract to decay. For example, after 8 years, the contract will still contain ~2.69% of the token supply.
In an effort to expand the lore and fun associated with the NFT collection, the Stasis Network team has built out seven unique clans with their own features and characteristics within the Stasis Vikings. You can see them below or read more about them here.
The clans will become a vital part of community engagement post-launch. Within the Discord community, individuals will be able to join a clan, and the team will have monthly competitions where the winning clan will earn prizes. As the protocol matures, more and more lore will be created to build out the world that the SVC inhabits.
Valkyrie’s Vanguard Perk
One thing the team did not anticipate was the sheer popularity of the Valkyrie’s Vanguard Clan within the collection. This clan is a fierce, all-female hoard of Vikings that can stand toe to toe with any other clan. In addition to their ferocity, they have been blessed by the Gods and Goddesses with an uncanny luck attribute.
Throughout their history, the Valkyrie’s Vanguard has uncovered many riches due to this trait, consistently unearthing long-forgotten treasures. A wealthy, premier clan among the many within the Stasis Viking Collection. Because of this, any holder of a Valkyrie’s Vanguard NFT will earn additional monthly airdrops. If you are lucky enough to mint one or more, it will truly pay to hold these NFTs.
Rare God/Goddess NFTs
But wait! There’s more! This wouldn’t be complete without a very small, rare group of NFTs that will be the belle of the ball within the Stasis Viking Collection. There are 10 of these rare NFTs, all 1-of-1 artworks with major benefits.
They will be limited to 1 per wallet, and the mint price is $2,500.
Special Sale: We will collect the wallet addresses of those interested in acquiring one between June 7–10, and do a live lottery to draw the 10 lucky buyers before the start of the NFT Mint on June 11th.
Not only will these NFTs benefit from the same rewards as a standard NFT, there is much more to them. Any holder of one of these NFTs will have a special role within the community, have permanent access to Asgard (private channel for larger holders), and have advisory opportunities when it comes to the protocol, mutual fund movement, and future developments.
Additionally, the team plans to maintain the projected APR, despite the higher mint price. To sustain the projected 25–50% APR, any holder of the God/Goddess NFTs will qualify for monthly airdrops of tokens between $50-$100. The amount and timing will be randomized.
That way, there are monetary and non-monetary rewards for holding one of these Rare God/Goddess NFTs. This golden group will be the pinnacle of the Stasis Viking Collection.
NFTs are a great way for a project like Stasis Network to reward holders, open up our brand to a new market sector, and add some character and fun to the traditional finance structure of mutual funds. Through this variety, the team will build an eclectic and well-rounded community.