The role of Master NFTs on the Helicon ecosystem

Master NFTs are an integral aspect of the Helicon ecosystem and are the cornerstone of the whole ecosystem’s operations. These NFTs can only be traded with Liquidity Provider (LP) tokens and smart contracts have been utilised to predetermine a linearised growth for them. At present, there exist 9 Master NFTs which correspond to 9 individual DeFi liquidity mining pools, represented by the 9 muses of Helicon.

Regular NFTs, which consist of in-game assets such as weapons and skins, are categorised under each Master NFT, and operate differently from each other — to be discussed in the future.

In order to ensure that Master NFT holders do not monopolise the market, each Master NFT can only be held for at most 24 hours. Holders of Master NFTs can list their Master NFT on Helicon’s NFT exchange at any time within the 24 hour time period — and once it is listed, the owner will stop receiving any of the associated rewards.

Once the 24 hour holding period lapses, the Master NFT will automatically be listed on the exchange and enter an unowned state. Whenever the transaction price is met, the transaction will follow through and the new sale price will always be higher than the previous buy one, predetermined through smart contracts. The proceeds from the sale will be released spread over 9 days, with one-ninth of the LP tokens released each day. This can be collected at any interval; however it will require a gas fee each time.

As the Master NFTs cannot have the price adjusted, it either sells for the predetermined price or enters a Vacant status. Once the vacant status is reached, 30% of the rewards get burnt, 30% of the rewards go back to the HeliconNFT ecosystem, and the new owner will receive the remaining 40% of the rewards.

The benefits of holding Master NFTs as discussed earlier, will grant holders rewards in the form of the Helicon Drachma Token (HDT). HDT couples as the utility and governance token of the whole ecosystem, with it being essential to navigate throughout the ecosystem. HDT is used for regular NFT transactions, and staked to put through and vote on proposals for community development. The voting and proposal mechanism gives Helicon the status of a DAO, learn more about it here.