RugZombie Main Features (Part 2)
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Main Features (Part 2)
RugZombie is all about bringing value to victims of scams, rug pulls, and hacks. We imagine a day with a cleaner Defi ecosystem, with an educated public and stellar community value.
If you read our recent article on our main features, you may have had questions. Here are some additional bits of info on our main features to satisfy the curious.
Let's commiserate together: swap your rugged tokens for something with utility AND appreciate the art.
It sucks to be the victim of a rug pull. While you may never recover the lost value of certain tokens, we remain committed to helping you get value in a novel way: custom NFTs. Our GRAVES allow users to earn custom NFT artwork that will be a consolation prize of sorts for being scammed. Each NFT is unique and related to the scammed project. Only token holders of that rugged token can earn that NFT.
*not financial advice: while we want to incentive people to stake and earn ALL of our NFTs, we do not recommend buying scammed projects in general. This is why we will eventually open up a secondary market and retire certain graves as necessary.
Our NFTs will serve many functions. Not only do we aim to provide quality, awesome looking NFTs, but they will play a key role in our upcoming gaming, merchandise, and entertainment ecosystem.
Our NFTs will come with ratings based on rarity (stay tuned for more). Some of our NFTs may look common, but trust us you will want them. :-)
Additionally, once our secondary market is created, users will be able to trade their trophy NFTs with others. NFT artwork is exclusive to each particular rugged token project, and will therefore be more difficult to acquire for those who were not scammed, making them fairly unique ie valuable as collectibles.
For those worthless dead tokens.
Graves are single asset staking pools wherein the user stakes:
- An initial “unlock amount” of RugZombie’s native token to unlock the grave and stake, earning a yield
- At least 1 of the rugged/scammed token to be donated
The user will be rewarded for staking our token for a certain amount of time (determined by each pool) and having donated the rugged token (for verification) with a yield emitted in our native token AND a single NFT commemorating their rugged token experience.
There is a deposit fee (in BNB) for graves and tombs to be unlocked. This deposit fee allows our team to:
- Actually pay our artists for their work
- Buy back and burn our token manually
- Build up our treasury fund for future liquidity pools, audits, marketing etc.
We know that other AMMs do not require deposit fees. If (or when) we launch our own AMM we can discuss removing the deposit fees. For now, consider the fee as an investment in the artist. Of course, through staking, you will earn a yield that will hopefully MORE than cover the deposit fee.
These NFTs may be a fun way to adjust to losing money on scammed tokens, but will have utility in our upcoming NFT gaming ecosystem and value on our secondary market as well, and much more (but details are private).
Why are deposits in BNB?
Our Deposit Fee is assessed in BNB to reduce selling pressure of our token and to keep our token price stable. TLDR: You won’t see our treasury wallet selling tons of our native token on the open market .
We determine the APR for our GRAVES staking based on the amount of our token only. Your rugged token is ONLY used to determine eligibility for the NFT.
For locked liquidity rugged tokens and "buried alive" tokens
Our tombs are most similar to what users of AMMs (automated market makers) experience with providing liquidity-with a twist. After paying our deposit fee, users will be able to stake unique Liquidity Pairings of RugZombie’s token and certain rugged tokens in order to earn a certain percentage yield.
While our graves are designed for “rugged” tokens that have zero or very little financial value, in contrast, our Tombs are designed for “rugged” tokens that retain some residual value by way of locked liquidity.
This residual value allows our team to resurrect life from dead tokens by allowing our users to stake their rugged tokens in our Tombs to receive a comparable yield with RugZombie, thereby resurrecting the rugged token from the dead. It is quite possible for users who hold RugZombie long enough to completely recover their lost value from these scammed projects. It’s alive!!!
APRs for these farms may be different that what you would see in other farms because the value of rugged tokens is generally fairly low and the liquidity pair itself is unique. Please tread lightly when considering the TOMBS.
Some of our LPs will contain projects that may not truly be scammed or rug pulled tokens. Our team will denote which of these farms are “buried alive”. Our devs have seen projects that appear to be rugged be relaunched with new teams or community efforts, or were not intentionally rug pulled to the best of our knowledge.
Our team is not attempting to make a statement on the future of these tokens, only that they have been subject to rug-pulled activity in the past, or confirmed suspicion around the project exists, regardless of their current status.
Land of the Living
In addition to allowing LP for rugged projects, we will of course offer a few traditional LP pairs for those who believe in RugZombie long term, but maybe have not been victim of a rug pull and still want to participate in the project.
See more about RugZombie in our other posts on Publish0x:
The information shared in these docs, our roadmap, our lite paper and white paper, and social channels such as this blog, is not financial advice and should not be misconstrued as such. The primary purpose of these documents is to provide potential token holders with pertinent information in order for them to thoroughly analyze the project and make an informed decision. Engaging in cryptocurrency projects involves substantial risk and it is strongly advised that you consult with a financial professional prior to your participation. These documents do not constitute a prospectus or offer document of any sort and is not intended to constitute an offer of securities or a solicitation for investment in securities in any jurisdiction. Neither RugZombie nor any of its contributors or creators shall be held liable or responsible for any errors or omissions concerning this project or for any damage you may suffer from your participation or as a result of failing to seek competent financial advice from a financial professional. This white paper is not in any way intended to create or put into implicit effect any elements of a contractual relationship.
Originally published at https://www.publish0x.com.