Yaka Voyager NFT: Utility and Simulation

5 min readJan 15, 2024

TL;DR

1. Yaka Voyager NFT features a maximum supply of 2000 units, priced at 120 SEI during the whitelist round and 150 SEI during the public sale.

2. NFT holders are entitled to receive YAKA token airdrops, with a fixed total airdrop of six million YAKA tokens. NFT stakers will receive a share of YAKA DEX trading fees. (Several snapshots will be taken to determine the final airdrop allocation. More details are TBD)

3. The lower the quantity of NFTs minted, the greater the individual NFT’s share of airdrops and trading fee dividends.

4. This article primarily emphasizes NFT utility and revenue simulations, and does not concern capital gains obtained from secondary market sales.

Introduction

Yaka Finance serves as the native liquidity hub within the Sei ecosystem, and we have ambitious plans to seamlessly integrate the liquidity flywheel of VE(3,3) with a launchpad. This strategic move aims to establish the optimal environment for SEI trading, tailored to traders’ needs. As a testament to our vision, we proudly secured 1st place in the “Code Sei: Powering New Gaming and Defi Exchanges” Hackathon and received grants from the ecosystem.

Today, we are thrilled to announce the launch of Yaka Voyager NFT, heralding a new era of DeFi and NFTs within the SEI ecosystem. Our innovative approach involves sharing utility tokens and trading fees from the DEX with NFT minters, and we are actively seeking early adopters with foresight to join us on this journey, collectively witnessing the growth of Yaka Finance.

The total supply of Yaka Voyager NFTs is capped at 2000, with a whitelist round price of 120 SEI and a public sale round price of 150 SEI. This initiative is projected to raise a total of 240,000 SEI.

Of the funds raised, 50% will be dedicated to bribes, aimed at boosting $YAKA’s locking rate, attracting protocol participation, and providing incentives for pools without existing bribers, such as SEI/USDT. The other 50% will be utilized for establishing initial liquidity and covering operational and research costs, fostering the protocol’s long-term development and competitiveness.

We are partnering with industry collaborators to offer whitelist spots, with each whitelist spot allowing for up to 1 minting. Any unsold NFTs from the whitelist round will subsequently become available in the public sale round. Should any NFTs remain unminted after the public sale, the remaining NFTs will be burned.

The Utility

Despite creating 2000 exquisite Yaka-style Poseidon avatars, Yaka Voyager NFTs transcend mere PFP. Beyond their aesthetic appeal and reflection of YAKA Finance culture, these NFTs possess DeFi-like utility attributes, offering tangible rights and benefits to holders.

For Yaka Voyager NFT Holders:

All holders share in a 6 million YAKA token airdrop (3% of the initial supply), with 30% unlocked immediately at TGE , and the remaining portion unlocked linearly over 12 weeks. (Several snapshots will be taken to determine the final airdrop allocation. More details are TBD)

For Yaka Voyager NFT Minters:

They receive a 2% share of the royalty income from the NFTs they mint.

For Yaka Voyager NFT Stakers:

They earn a portion of the trading fees from the Yaka Finance EVM mainnet DEX, starting at 15% for the first 3 months and permanently set at 10% thereafter.
1% in royalties from secondary sales is directed to the NFT staking pool.

(The NFT staking functionality will be introduced following the launch of SEI’s parallel EVM mainnet.)

The aforementioned utilities represent the vested interests of Yaka Voyager NFT holders as early supporters, aligning them with the long-term benefits and vision of Yaka Finance.

The Simulation

The Dynamics of Minting

The Yaka Voyager NFT is designed to optimize minting quantities.

Firstly, since all holders share in a total airdrop of 6 million YAKA tokens, the allocation per NFT holder decreases as more NFTs are minted. Each NFT holder is guaranteed a minimum of 3000 YAKA.

Secondly, while NFT stakers can earn a share of the DEX’s trading fee rewards, this allocation is independent of the total number of NFTs minted. However, as more NFTs are staked, the trading fee rewards per NFT may reduce.

However, the flip side of this scenario is that as more NFTs are minted, it signifies greater support for Yaka. This, in turn, results in increased fundraising for Yaka, expediting its journey towards success and providing enhanced returns for both NFT minters and stakers.

Over 50% of the funds raised will be earmarked for the development of liquidity and liquidity incentives, which are pivotal factors in driving Yaka’s triumphant path forward.

Revenue Simulation

This profit simulation assumes all minted NFTs are staked, focusing on trading fee revenue from YAKA Finance. If users mint instead of just staking, with $YAKA’s conservative initial valuation at 7.5M, each NFT would airdrop about $112.5 in tokens, covering the 150SEI minting cost in the public sale. Thus, this simulation offers a reference for the intrinsic value of YAKA Voyager NFTs based solely on trading fee revenue sharing.

Variable Inputs:

Variable 1: NFT Minting Quantity
Case #1: 1000
Case #2: 1500
Case #3: 2000
Variable 2: Daily Vol Scenarios
Case #1: 2000000
Case #2: 5000000
Case #3: 10000000
Case #4: 15000000
Case #5: 20000000

Trading fee revenue sharing is illustrated in the chart below: