Catnip Money — NFT Update #1
As revealed in our last community update, the new criteria for receiving Catnip Yield NFTs is now being part of the Top 100 holder of CATNIP. Whilst this may excite larger holders of CATNIP we aren’t excluding late comers and smaller holders from the action — upon launch of the PURR rewards token we’ll be airdropping NFTs to lucky holders an also auctioning additional NFTs.
Grab a seat and buckle up for some bullishness as this update is intended to provide an easy read technical overview of the NFTs and their relationship with the PURR rewards token, whilst also exploring exciting future possibilities for Catnip Money.
A New Generation of Charitable Rewards via NFTs.
Our upcoming NFTs have caused quite a bit of excitement — and for a good reason. They’ll allow holders to reap passive income in the form of of our charity rewards token, PURR. Holders of these NFTs have vital role of being initial distributors of the rewards token and facilitating price discovery.
Whilst receiving free tokens is awesome enough, it gets better. A percentage of each transaction is automatically sent directly to our partnered charities wallets, allowing the Catnip Money ecosystem to autonomously support good causes in perpetuity.
The PURR rewards token also helps the Catnip Money ecosystem prosper by donating 1% of each transaction to our marketing and development wallet, allowing us to continually ramp up our marketing and development efforts.
In short, the PURR is a symbiotic token that autonomously donates to good causes, whilst also rewarding and supporting participants of Catnip Money.
The goal of any good rewards token shouldn’t be to mindlessly print tokens, but to add depth and utility to a growing ecosystem of money.
Distribution of NFTs
The first generation of Catnip Yield NFTs will be given to only the most dedicated collectors of Catnip tokens, with the Top 100 holders being eligible and contract addresses excluded. Taking contract addresses into account, a claimant of a NFT would need to be positioned in the Top 103 holders at time of the snapshot on the 14th of May at 10PM UTC.
Yield Weighting (Attack)
As many of you have seen from our teased drafts, each NFT has an attack score which is used to determine the rate in which the NFT earns PURR tokens.
Co-efficient A (CoA) is the value attributed to the Attack number seen on the front faces of each Yield NFT.
To determine the CoA/Attack we first must find the Co-efficient Reference (CoRef). The Co-efficient Reference is determined by simply dividing the Top holder of CATNIPs balance by 100. This value can only be finalized at the time of snapshot.
Calculating the CoA/Attack value for a card is equally as simple. Simply divide the eligible wallets CATNIP balance by the CoRef, which will provide an Attack number ranging from up to 100.
Again, these values can only be finalised at the time of snapshot, however it is fun to run the maths to see how you’d score — so let’s do an example.
Determining CoRef at time of writing (08/05/2021 15:00PM UTC) would require dividing the Top 1 holders balance by 100. Currently that is the Marketing and Development wallet with a total of 23,010,000,000,000 CATNIP. We simply divided this by 100 to determine a CoRef value of 230,100,000,000.
To calculate the CoA/Attack value of current top holder #9 we would divide their balance by the above CoRef value to produce an Attack value of 70.60.
Co-efficient B Rating (Defence)
Co-efficient B is another fixed value attached to each NFT which remains the same for all issued Catnip Yield NFTs. The role of Co-efficient B is to future proof the NFTs, allowing other developers, the Catnip Community and the Catnip Money Team to build upon the current design. More of information about ‘Defence’ ratings will be coming in the near future!
Introducing the redesigned and revamped family of Catnip Yield NFTs!
Nipsters only deserve the best. And when it comes to our NFTs we make sure that our biggest holders and supporters are rewarded with the most exclusive and prestigious NFTs.
Catnip Yield NFTs will now have a tiered ranking system for extra epic-ness and exclusivity! A quick breakdown of the distribution of the initial 100 NFTs:
Drum roll please!
Royal Purple Catnip Yield NFT — For Top 20 Wallet Holders!
Gold Catnip Yield NFT — For Top 21–60 Wallet Holders!
Silver Catnip Yield NFT — For Top 61–100 Wallet Holders!
NFT Snapshot Soon!
The snapshot date is now official as the 14th of May at 10PM UTC! Remember that only holders who list in the Top 100 holders of CATNIP (contracts excluded) are eligible for 1st Edition NFTs.
As soon as 10PM is hit the snapshot is automatically taken, we cant make any exceptions for late comers so our best advice is to cement your position in the advance as we expect a lot of jostling for Top 100 positions.
A timer for snapshot time can be found here — Snapshot Countdown Timer
For those who miss out — We got you covered!
We want as many Nipsters as possible to enjoy the Yield NFTs and we understand that not everyone is going to be able to get a position in the Top 100. For that we have a solution!
We’ll be gifting 45 NFTs (various tiers) to random wallet holders who hold a minimum amount of CATNIP* and auctioning 100 NFTs (various tiers) to the general public.
With 100 available for auction we feel anyone who wants to get their hands on one will have an opportunity regardless of if they were snapshotted or not. The auction is also a good way to raise funds to expedite future marketing and development.
Also, we’ll be giving away 5 NFTs (of all tiers!) in social media giveaways over the next few weeks, so keep your eyes peeled for these very unique opportunities.
*100,000,000,000 CATNIP (~ 0.1 BNB worth).
So to summarise the NFT distribution:
Top 100 Holders (100 NFTs — 1st Edition)
NFT Giveaway (45 NFTs — 2nd Edition)
NFT Auction (100 NFTs — 2nd Edition)
Social Media Giveaways (5 NFTs — 2nd Edition)
Total: 250 Catnip Yield NFTs
Whats developments are coming next?
Whilst we are busy finalising NFT designs and awaiting the snapshot, we’re also preparing more documentation to explain the mechanics behind the PURR rewards token distribution and functioning of the NFTs. Expect this to be posted to our Medium within the next week.
After the snapshot we begin work in building the Garden Faucet and preparing NFTs for minting. We want to move development of the protocol along as fast as possible but we also don’t want to neglect marketing, so expect us over the next few weeks to begin to ramp up both marketing and development as we reach higher CATNIP token price.
Thank you, global Nipsters for following us on this inter-galactic journey which is only just getting started!
If you haven’t already then join our Telegram and mingle with the growing Catnip Money community! 🚀
