Explain it like i’m 5: New Feature the “BARRACKS”

The fun never stops here in the RugZombie Devs Dungeon, erm, we mean “Office”.

Our latest feature, the BARRACKS, is an iteration/evolution of our Shark Pool. Actually, we reverse engineered this feature to offer the shark pools. We want to give the community some time to understand this feature before release.

What is the BARRACKS?

The BARRACKS is a dedicated section for NFT only pools in which users can lock single assets in our “training vaults” to earn exclusive NFTs. So far, like our graves and tombs.

While the Zombies rule above, down in the catacombs, (where our BARRACKS feature will live) humans go to the BARRACKS to train in their fight against their overlords above. By locking assetts in the vault for X amount of time, users will earn the new NFTs.

How Do the BARRACKS vaults work?

Like any of our pools, users will deposit the required token in the minimum amount, however, rather than take a deposit fee as a lump sum, the contract will instead require a % of the total as a deposit fee.

The vault will seal/lock itself once the required TVL is submitted to the vault, after which, NO MORE STAKING may enter the vault. Subsequently, the NFT timer will begin counting down and all users may mint one (1) copy of the NFT and remove their withdrawal (receiving their initial stake back less the deposit fee) after the NFT is ready.

Users will be able to withdrawal their funds from the vaults at any point, but they will not recover the % deposit fee back, and if the vault is locked, they will lose their chance to earn the NFT. Re-entry will incur yet another deposit fee, ensuring that the vault incentivizes staking.

What About the NFTs?

Long term, we plan to monitor the development and minting of the NFTs that are created during the process and we will pre-assign the rarity based on the minimum staking amounts, thereby ensuring at least a maximum mint number;

For example, Barry the Intern (not a real NFT…yet), is a RARE NFT that we set the minimum asset of ZMBE to be 50,000. The TVL requirement is 1million ZMBE. This means that at a maximum only 20 of these NFTs will be minted thus ensuring the rarity of the NFT is in alignment with our protocol goals.

We also plan to re-release Barracks NFTs with higher barrier to entry, rewarding early entry and thus creating scarcity through barrier to entry. For example; Barry the Intern is a RARE NFT that we intend to mint a total of 400. We set the TVL requirement as above, but after a few weeks decide to let Barry out of his cage again. This time around, the deposit fee will be higher and the deposit fee increased 10% and the TVL threshold to be 500K.

We will of course be monitoring the mint numbers to ensure that RARE means RARE according to existing mint numbers etc. We also need to stress we do not have strict mint numbers for NFTs other than MYTHIC and BIBLICAL, only a maximally bounded amount per release.

What is the Intended Goal of the BARRACKS?

Our plan for the BARRACKS is threefold;

  1. Provide other asset staking to further attract TVL and partner projects to our platform. This will help us work with partner projects to lock LP for their token, for example, in much the same way that our Shark Pools operated. It also allows us to be flexible with the % fee that is captured to further drive our platform, run manual buybacks, and reinvest these amounts for our treasury and more.
  2. Mainly, this feature provides a mechanism for users to control the supply/demand of the NFTs. For example, if our CZombie Intern (oops) requires BNB as the asset to be staked, and the TVL requirement of 50 BNB is met, the contract will operate the same regardless of how many users provided the BNB. So theoretically the BNB could have been provided by 1 user, meaning 1 NFT will be minted, or it could be 10 users, or it could be 500, however all will be maximally bounded to be consistent with the average mint numbers of our protocol for the various rarity levels.
  3. Provides an interesting way of creating a new series of NFTs centered around the under-dwellers…the humans. Iykyk.

Have fun down there, and don’t get too comfortable with those humans. You can never really trust them.

Details on our first BARRACKS release will come shortly, and as this feature requires some timing, we will give the community a countdown for our first released BARRACKS asset:

What a Basic Human

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store