Welcome back Islanders, it has been a long time since we wrote an article.
We are really amazed to have launched the radio service in beta version (Pass NFT coming soon) and today we would like to introduce you instead to the next dapp: Animals.
If we had to explain Animals in a few words we would say: “It could be seen as a DAO, to help all projects in this ecosystem, governed by animals, using a no-loss mechanism”.
What is an Animal?
An animal is an NFT with an inner soul represented by the amount of stable coins backed up in it, and each animal will have a different base and a maximum backed up capacity.
We will not offer any of them for sale, at least in the initial phase, so you will be able to obtain one of them only by interacting with the platform, becoming a Feeder.
So, how could I obtain an animal?
In order to obtain any of them you have to be a feeder first.
Anyone can become a feeder, by staking stable coins in the Feeders pool, and use only the interest generated by the stake to obtain Animals.
The Feeders pools will use well proven strategies from other DeFi platforms.
At launch we will use a USD strategy, on polygon, deployed and maintained by a well-known DeFii platform, so feeders could stake DAI/USDC/USDT on polygon.
This pool will have a no-loss mechanism, in the sense that only the interest generated by the stakes can be used on the Animal platform to mint new Animal NFTs with these earned stable coins that will become the inner soul of the animal. Every fund staked by feeders will be withdrawn at any time.
Feeders who earn Animals can use them in any HeadQuarters (HQ), which we will explain later, to support and earn benefits related to the HQ they are staking animals in.
Feeders can also resell them in a secondary market, such as Defivillle vending machines, OpenSea, Rarible, etc. Keep in mind that the soul amount could be redeemed only if the Animal NFT will be abandoned (explained below), instead with a normal sale the NFT will be transferred to the new owner and the soul ownership too.
Animal with a base inner soul of 1K USD (DAI/USDC/USDT)
- For obtaining this a feeder has to earn at least 1K USD from its stake.
- When it will be reached the Animal NFT could be minted and this 1K USD in token backed into it.
- For unlocking this amount the Animal needs to be abandoned (burned).
Said that, an animal can use its soul for generating interests to be used within the platform. At launch every animal will use the same strategy than the Feeders pool would use but later on, there will be implemented a list of well known and tested strategies from some different defi platforms.
Abandon of an Animal
Yes, sometimes the world can be sad and someone may decide to abandon (burn) an animal. If they decide to abandon one of them, the NFT will be burned and the NFT will disappear forever, no one will be able to use it again.
During the burning process the animal’s soul amount will be transferred to the owner who decided to burn it. Keep in mind that there will be a penalty fee to pay for burning any of them, it will be dynamic depending on the amount of users who abandon animals.
Please note that if you want to retrieve the inner soul amount you must do this terrible deed, there is no other way. Don’t do it, change the HQ if you are not satisfied with its benefits!
Each animal will be launched through a Collection, the first one, at launch, will be the Genesis Collection, it will consist of 4 Animals NFT.
They will be mintable/redeemable until the next collection is released, this is a rule for each future collection. Every collection will be made by a different artist, the main animal theme will be respected but every artist will be able to use its personal style.
The number of animals for each collection could vary and also the number of days a collection will remain mintable before the next one is launched. So some animals could become quite rare if they were in a “flash” collection.
We are truly amazed to present to you the artist that made the first collection, the Genesis One: Toya
Toya (@ToyaChibi), as an NFT artist, has a very fresh and friendly style.
The light-hearted atmosphere that he brings to his art always makes you smile in some way. He has done work for other well-known projects and his contributions have always been fully appreciated by the community.
Toya used a pirate style that comes from season 2, so we have a captain, a quartermaster, a treasurer and a gunner. Amazing!
Base Soul for the first collection:
Captain: 5K (DAI/USDC/USDT)
Treasurer : 1K
They are the number of interests generated needed for minting a new animal NFT.
We have already talked about what an animal is and how it can be redeemed.
Now we need to talk about where these animals could be used and what rewards a user could get by stakingon them in various HQ.
What is a headquarters ?
Basically a HQ could represent everything, it could be a base centre for any project involved in this world and can be opened by anyone who sends us a request.
One could imagine a HQ as an open world, customisable by the owner of the world, adding buildings and performing many other actions.
Possible Use Cases:
- Music artists,
- Charity Projects,
- New Defi Platform,
- Crypto Journalism,
- Audits DAO,
- Physical Products
- Indie Videogame house
When a new HQ is created, it is represented by a map, and there will be just one build (plugin) as default. Every build will have its fixed functionalities, and HQ could decide to add new builds into its personal map for enhancing the UX of its supporters with new services and other benefits.
In the next article we will reveal all headquarters that we will open at launch, they come from NFT platform to journalism.
Perpetual Grant Rounds (PGR)
It is the default build/plug-in for every hq created.
It works like this:
- Stake Animal in the related HQ.
- The passive income generated by the Animal, will be reserved for:
- Increase the animal’s soul (40%).
- Send this percentage to the HQ (40%).
- Send this percentage for increasing ISLA staking position (20%).
It could be seen as a kind of gitcoin/clr.fund grant, but in this case a grant will receive funds through the passive income generated by the animals, which this HQ hosts. In short 40% of the total revenue generated by each animal.
At the same time, thanks to the percentage reserved in 3), it will permit to the nft owner to stake an amount of ISLA into the solo staking pool (explained below), the amount is equal to the stable earned in time, reserved for this, at 1:1 rate, so for every stable reserved, 1 ISLA could be staked into the pool by the NFT owner.
If the animal is attached to a 20% APY stable coin strategy, the ISLA staking mechanism reserved by the owner will have a 4% APY (20% of the total passive income), if ISLA would be at 1 stable coin of value.
Upcoming builds (plugins)
We would like to explain some possible upcoming plugins use cases that hq would like to implement. The PGR would be a base utility for every hq, is like a grant, every user could support it by staking animals, and a percentage of the passive income generated will be sent to the hq owner. It is like a donation, but instead of a classic grant where you can fund it with a certain amount, with a one-shot donation, in this way you are donating in it in a perpetual way, increasing your passive income in time and the number of benefits that you could receive from the relative HQ. Said that we analyze some different use cases, other plugins capable of rewarding animal holders, the donation mind style is great for the ecosystem, but at a certain point maybe an user would like to obtain something in change, if the HQ that it is supporting is growing in time maybe the early supporters will be able to obtain some benefits.
A HQ could be an org that developed and is maintaining a github repo related to a tool used in the ecosystem, like any useful for developing and testing smart contracts or for any web3 related task. Supporters of that could start to destinate the animal passive income to it, and scaling the leaderboard for this HQ. Later on maybe it needs to have a plugin to give some benefits to its supporters, like distributing an alpha version of the sw related or set up a sort of dedicated support using telegram or discord. Or maybe the hq owner could be an NFT artist that could create some personal NFT only to the animal’s owner in its headquarters, so this hq will require a plugin for airdropping NFTs only to supporters. Another NFT platform could need a plugin for setting up a sale/auction only between animals’ owners that are staking in this hq, a reserved auction. An indie blockchain video game software house could use its HQ like a sort of crowdfunding hub, and they would need to have a plugin for reserving the “try the beta” only to animal stackers, or maybe a plugin for crafting these NFTs into the HQ official NFTs. More use cases will be described in the next article, where we will announce the first HQs.
At the launch, there will be an official Defiville HQ. We’ve lied to you, eh eh.
Because not all hq will have the PGR as a default plugin, it will not be present in this one, it will have a slightly different mechanism.
For each animal hosted in this hq, an amount of ISLA can be staked by the owner, and the same amount by the community. The maximum amount that can be staked would be equal to the amount of the animal’s soul.
Animal with a soul amount of 1000 DAI:
- The NFT owner has a 1000 ISLA reserved in staking
- Community can stake another 1000 ISLA (every user)
- 2000 ISLA stackable in total thanks to this Animal
So for every DAI, at the beginning, it can be staked 2 ISLA, 1 slot reserved for the NFT holder and 1 is free to stake by anyone, the faster will win. From the ISLA side, staking 1 ISLA is like earning from a 0.25 DAI, of stake. We say that the animal is earning a passive income from a stable coins strategy with a 20% of APY, so the initial APY for staking ISLA will be around 5%, if 1 ISLA would have the value of 1 DAI. Also
The passive income will have different distribution percentages than in PGR:
- Increase the animal soul (50%)
- Send this percentage to ISLA stakers (50%)
ISLA Staking Pool
With the launch of the official Defiville HQ, an ISLA staking pool will be opened.
The maximum amount of stackable ISLA in it will depend on the number of NFT Animals hosted in the HQ.
As explained above, each animal will unlock an amount of ISLA stackable by the NFT owner and also the same amount stackable by anyone else. Therefore, it will not be an unlimited pool of stacks, but the animals will dictate the number of stackable ISLA in it.
When a user removes an animal from the HQ, the number of stackable ISLA will decrease, and the opposite will happen when a new animal is added to the HQ.
At launch, we will distribute 150K ISLA.
They come from season 2, some stable funds have not been opened so we have excess ISLA to distribute.
We start with 150K ISLA, with a 1:1 ratio with the stable coins, so for every dai/usdc/usdt earned by an animal, the owner of the animal will be rewarded with 1 ISLA, until the platform distributes all 150K ISLA.